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This statistic highlights Devon Energy’s Average Realized Prices, split across Combined, Gas, NGLs and Oil, on a quarterly basis from Q1 2016 onwards.
The table below enlists Devon Energy’s average realized prices in the past few quarters:
Period | Q3 2020 | Q2 2021 | Q3 2021 |
Oil ($ per Bbl) | 38.2 | 63.6 | 68.2 |
Combined ($ per Boe) | 22.9 | 41.8 | 47.1 |
NGLs ($ per Bbl) | 12.1 | 23.9 | 31.3 |
Gas ($ per Mcf) | 1.5 | 2.4 | 3.6 |
Note 1 – Price realisation is the average selling price per unit of the product/commodity for the business.
Note 2 –
Per the given data, the average price realisation increased at a notable rate. The average price realised increased from $74.7 in Q3 2020 to $150.1 in Q3 2021, marking a percentage growth of 101% on a YoY basis. And, the average price realised increased from $131.6 in Q2 2021 to $150.1 in Q3 2021, marking a percentage growth of 14% on a QoQ basis.
Segment-wise analysis
Oil ($/bbl)
The average price realisation increased at a fine rate for this segment. The average price realised increased from $38.2 in Q3 2020 to $68.2 in Q3 2021, marking a percentage growth of 78% on a YoY basis. Whereas, the average price realised increased from $63.6 in Q2 2021 to $68.2 in Q3 2021, marking a percentage growth of 7% on a QoQ basis. Moreover, the percentage contribution of this segment in the latest quarter is 45%.
Combined ($/boe)
The average price realisation increased at a decent rate for this segment. The average price realised increased from $22.9 in Q3 2020 to $47.1 in Q3 2021, marking a percentage growth of 105% on a YoY basis. And, the average price realised increased from $41.8 in Q2 2021 to $47.1 in Q3 2021, marking a percentage growth of 13% on a QoQ basis. Also, the percentage contribution of this segment in the latest quarter is 31%.
Natural gas liquids ($/bbl)
The average price realisation grew at a decent rate as well for this segment. The average price realised increased from $12.1 in Q3 2020 to $31.3 in Q3 2021, marking a percentage growth of 159% on a YoY basis. Also, the average price realised increased from $23.9 in Q2 2021 to $31.3 in Q3 2021, marking a percentage growth of 31% on a QoQ basis. And, the percentage contribution of this segment in the latest quarter is 21%.
Natural Gas ($/mcf)
The average price realisation increased for this segment. The average price realised increased from $1.1 in Q3 2020 to $3.3 in Q3 2021, marking a percentage growth of 131% on a YoY basis. Whereas, the average price realised increased from $2.4 in Q2 2021 to $3.3 in Q3 2021, marking a percentage growth of 51% on a QoQ basis. However, the percentage contribution of this segment in the latest quarter is 2%.
About The Company
It is an energy corporation engaged in hydrocarbon exploration in the United States. It is headquartered in Oklahoma. Its main operations are in the STACK Formation in Oklahoma, Barnett Shale, Delaware Basin, Eagle Ford Group shale, and the Rocky Mountains. The corporation is ranked 520th on the Fortune 500.As of December 31, 2020, the company had proved reserves of 752 million barrels of oil equivalent (4.60×109 GJ).
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