EX-99.1 2 d148066dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 Devon Energy Corporation Three Memorial City Plaza 840 Gessner Road, Suite 1400 Houston, TX 77024 Devon Energy Enhances Permian Inventory in Federal Lease Sale HOUSTON, May 21, 2026 (GLOBE NEWSWIRE) - Devon Energy Corporation (NYSE: DVN) announced the successful acquisition of 16,300 net undeveloped acres in the core of the Delaware Basin in Lea and Eddy Counties, New Mexico, for approximately $2.6 billion, or approximately $161,500 per net acre, through the Bureau of Land Management (“BLM”) Oil and Gas Lease Sale. This acquisition bolsters the premier Delaware Basin positions in the industry, extends inventory life, and is accretive to net asset value per share. KEY HIGHLIGHTS Acquisition adds approximately 400 net locations normalized to 2-mile laterals, with expected strong well economics and low breakevens supported by: High Net Revenue Interest: Federal leases carry an 87.5% net revenue interest (“NRI”), with 10-year terms across all depths, more favorable than NRIs typical of state and fee leases in the region. Contiguous Acreage Position: Provides the ability to drill longer laterals a…
Open exhibit ↗Current Report · Items 7.01, 8.01, 9.01 · 8-K
Devon Energy Corporation
DVNNYSEEQUITYCurrent
Regulation FD Disclosure · Other Events
Item 7.01 Regulation FD Disclosure. On May 21, 2026, Devon Energy Corporation, a Delaware corporation (“Devon”), issued a press release in connection with the acquisition described in Item 8.01 below.…
Company context
Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.
Current securities
Disclosure sections
Item 7.01Item 7.01 - Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure.
On May 21, 2026, Devon Energy Corporation, a Delaware corporation (“Devon”), issued a press release in connection with the acquisition described in Item 8.01 below.
The information in Item 7.01 of this Current Report and in Exhibit 99.1 attached hereto is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in Item 7.01 of this Current Report and in Exhibit 99.1 attached hereto shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in any such filing.
Item 8.01Item 8.01 - Other Events
Item 8.01 Other Events.
On May 20, 2026, Devon completed the acquisition of 16,300 net undeveloped acres of Delaware Basin acreage in Lea and Eddy Counties, New Mexico, for approximately $2.6 billion, or approximately $161,500 per net acre, through the Bureau of Land Management Oil and Gas Lease Sale.