Devon Energy (DVN) Operating Expenses (2009 - 2026)
Devon Energy's (DVN) quarterly Operating Expenses came in at $5.0 billion in Q2 2026, up 61.16% year-over-year from $3.1 billion in Q2 2025, and up 38.23% quarter-over-quarter from $3.6 billion in Q1 2026.
Analysis
Devon Energy (DVN) Operating Expenses (2009 - 2026) Analysis & Trends
Devon Energy (DVN) has reported Operating Expenses for 18 consecutive years, with $5.0 billion the latest figure, recorded in Q2 2026.
- On a quarterly basis, Operating Expenses rose 61.16% year-over-year to $5.0 billion in Q2 2026; TTM through Jun 2026 was $15.5 billion, a 14.98% increase from a year earlier, with the FY2025 full-year figure at $13.7 billion, up 12.22% from the prior year.
- Operating Expenses was $5.0 billion for Q2 2026 at Devon Energy, up from $3.6 billion in the prior quarter.
- Over five years, Operating Expenses peaked at $5.0 billion in Q2 2026 and troughed at $2.6 billion in Q1 2022.
- A 5-year average of $3.1 billion and a median of $3.0 billion in 2022 frame the typical range for Operating Expenses.
- Across the five-year window, Operating Expenses decreased 18.33% in 2023 and surged 61.16% in 2026, its largest moves.
- Over 5 years, Operating Expenses stood at $2.7 billion in 2022, then slipped by 1.13% to $2.7 billion in 2023, then jumped by 31.23% to $3.6 billion in 2024, then slipped by 5.3% to $3.4 billion in 2025, then jumped by 49.17% to $5.0 billion in 2026.
- The last three Operating Expenses figures came in at $5.0 billion (Q2 2026), $3.6 billion (Q1 2026), and $3.4 billion (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Conocophillips | 166.37 Bn | 158.68 Bn | 12.81 Bn | 2.43 Bn |
| 2 | Canadian Natural Resources | 106.24 Bn | 104.35 Bn | 8.84 Bn | 114.95 Mn |
| 3 | Eog Resources | 77.64 Bn | 72.73 Bn | - | 5.09 Bn |
| 4 | Diamondback Energy | 57.73 Bn | 57.26 Bn | 5.55 Bn | 3.05 Bn |
| 5 | Devon Energy | 46.75 Bn | 45.74 Bn | 6.02 Bn | 5.03 Bn |
| 6 | Expand Energy | 23.07 Bn | 21.81 Bn | 2.33 Bn | 2.30 Bn |
| 7 | Permian Resources | 19.87 Bn | 19.61 Bn | - | 929.86 Mn |
| 8 | Ovintiv | 17.94 Bn | 17.05 Bn | 2.83 Bn | 2.02 Bn |
| 9 | Apa | 15.73 Bn | 15.28 Bn | 2.28 Bn | 1.12 Bn |
| 10 | Antero Resources | 12.12 Bn | 11.55 Bn | 1.56 Bn | 1.18 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.03 Bn |
| Mar 31, 2026 | 3.64 Bn |
| Dec 31, 2025 | 3.37 Bn |
| Sep 30, 2025 | 3.42 Bn |
| Jun 30, 2025 | 3.12 Bn |
| Mar 31, 2025 | 3.81 Bn |
| Dec 31, 2024 | 3.56 Bn |
| Sep 30, 2024 | 2.96 Bn |
| Jun 30, 2024 | 2.88 Bn |
| Mar 31, 2024 | 2.83 Bn |
| Dec 31, 2023 | 2.72 Bn |
| Sep 30, 2023 | 2.76 Bn |
| Jun 30, 2023 | 2.56 Bn |
| Mar 31, 2023 | 2.60 Bn |
| Dec 31, 2022 | 2.75 Bn |
| Sep 30, 2022 | 2.97 Bn |
| Jun 30, 2022 | 3.13 Bn |
| Mar 31, 2022 | 2.55 Bn |
| Dec 31, 2021 | 2.61 Bn |
| Sep 30, 2021 | 2.50 Bn |