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Devon Energy Business Segments

Business, geographic, and product segment breakdowns

Devon Energy generates $16.5B in annual revenue across 3 key segments: Gas ($993.0M), NGL ($1.4B), and Oil Reserves ($8.9B). The company-wide operating margin is -76.34%. Based on the Q1 2026 filing.

Gas (TTM)$993.0MNGL (TTM)$1.4BOil Reserves (TTM)$8.9B
Latest FilingQ1 2026
Report Date2026-05-06
Market Cap$51.5B
P/E Ratio22.69
ROE15.13%

Products & Services

Revenue

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Oil Reserves$2.5B$2.4B$2.2B$2.3B$2.1B$2.4B
NGL$429M$403M$358M$356M$358M$349M
Gas$191M$309M$246M$252M$241M$254M

Cost of Goods Sold

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Marketing And Midstream Expenses$1.4B$1.4B$1.4B$1.5B$1.4B$1.5B

Geographic

Percentage Of Extensions And Discoveries Proved Undeveloped Reserves

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Anadarko Basin0.8%2.0%2.0%2.0%2.0%—
Delaware Basin18.8%14.2%14.2%14.2%14.2%—
Eagle Ford0.5%3.0%3.0%3.0%3.0%—
Rockies—5.8%5.8%5.8%5.8%—

Proved Developed And Undeveloped Reserve Extension And Discovery Energy

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Anadarko Basin$7.5$8.3$8.3$8.3$8.3—
Delaware Basin$63$69.5$69.5$69.5$69.5—
Eagle Ford$4$12.8$12.8$12.8$12.8—
Rockies—$20.3$20.3$20.3$20.3—

Proved Developed And Undeveloped Reserves Revisions Other Than Price

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Delaware Basin13.756.256.256.256.25—
Rockies—31.2531.2531.2531.25—

Proved Undeveloped Reserves Percentage Extensions And Discoveries Energy

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Delaware Basin17.0%18.5%18.5%18.5%18.5%—
Rockies—5.0%5.0%5.0%5.0%—

Proved Undeveloped Reserves Revisions Other Than Price

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Delaware Basin-1.50-11.25-11.25-11.25-11.25—
Rockies—-8.25-8.25-8.25-8.25—
Williston Basin-0.50-2.50-2.50-2.50-2.50—

Proved Developed And Undeveloped Reserve Purchase Of Mineral In Place Energy

SegmentQ4 '24Q1 '25Q2 '25Q3 '25Q4 '25Q1 '26
Eagle Ford—$10.8$10.8$10.8$10.8—