Devon is a far bigger producer since the Coterra merger closed May 7, but Devon's second quarter results reflect legacy Devon operations for the full quarter. Q2 oil production for the company came in at the higher end of guidance at 503 Mb/d, with total production at 1.36 MMboe/d. Full year 2026 guidance wasn't increased, but tightened to 495-505 Mb/d for crude oil and 1,364-1,398 Mboe/d for total production (see table below). Looking ahead, Devon is pushing capital toward the Delaware, where roughly 400 federal locations won at the New Mexico lease sale are being permitted for their 2027 drilling program.
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Fly Like An Eagle – With New Permian Takeaway Capacity Coming Online, Gas Production Could Soar
For the first time in years, the Permian Basin’s chronic natural gas takeaway constraint is beginning to ease — and in a big way. Today, we discuss the major Permian gas pipeline projects scheduled to come online in 2026-27, how much new capacity they will provide, and consider what it all means.
- Analyst Insight
Q1 2026 Earnings Calls: Devon Remains Disciplined As Coterra Deal Closes
Devon Energy’s Q1 2026 call put the company’s U.S. drilling plan squarely around execution, lower well costs and a bigger Delaware Basin opportunity following the Coterra merger. The Coterra merger gives Devon a bigger U.S.
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Solitude – New Natural Gas Pipeline to Overwhelm the Permian Basin with Outbound Capacity
Over the past couple of years, the Permian has been dominated by one story: natural gas takeaway constraints and negative prices at the Waha Hub. That has changed recently, however, as more pipelines have entered service, and now plans for the Solitude Pipeline System have been unveiled.
