Devon Energy CEO to Address Investors at Pivotal 2026 Conference

OKLAHOMA CITY – December 30, 2025 – As the energy sector braces for a complex 2026, Devon Energy Corp. (NYSE: DVN) is positioning its top executive to address the financial community directly. The company announced that President and CEO Clay Gaspar will participate in a high-profile panel at the Goldman Sachs Energy, Cleantech, & Utilities Conference on January 6, 2026. The appearance is seen by analysts as a crucial opportunity for the leading U.S. oil and gas producer to reinforce its strategic direction in a market grappling with oversupply concerns, price volatility, and an accelerating energy transition.

Investors and industry observers will be closely watching the live-streamed event, seeking clarity on how Devon plans to balance its robust fossil fuel operations with growing demands for sustainability and shareholder returns. Gaspar's commentary will be a key barometer for both the company's health and the broader sentiment among major American energy producers heading into the new year.

A Message of Financial Discipline and Shareholder Value

At the forefront of the discussion will likely be Devon's steadfast commitment to its disciplined cash-return business model. In a climate where many producers are shifting away from aggressive expansion, Devon has championed a strategy focused on generating free cash flow and delivering that value back to its shareholders. This approach has already yielded impressive results. The company's third-quarter 2025 performance surpassed analyst expectations, with reported earnings per share of $1.04 on revenue of $4.33 billion, signaling strong operational execution.

Investors will expect Gaspar to elaborate on the company's business optimization plan, an ambitious initiative designed to unlock an additional $1 billion in annual pre-tax free cash flow. Having already achieved over 60% of this target, Devon's focus on margin enhancement, capital efficiency, and cost reduction is a central pillar of its investor pitch. In Q3 2025 alone, the company allocated $250 million to share repurchases and paid out $151 million in dividends, demonstrating a tangible commitment to its capital return framework.

Furthermore, Devon's 2026 outlook showcases significant financial resilience. The company has outlined a disciplined capital investment plan of $3.5 billion to $3.7 billion, a notable $500 million reduction from prior maintenance levels. Critically, Devon has stated it can fully fund its 2026 program, including its dividend, with West Texas Intermediate (WTI) crude prices below $45 per barrel. This low break-even point provides a substantial buffer against the price volatility forecasted for the year ahead and will be a key point of assurance for the market.

Navigating the Energy Transition and 'Cleantech' Demands

The very name of the conference—encompassing 'Cleantech' and 'Utilities' alongside 'Energy'—highlights the evolving landscape Devon must navigate. Gaspar's presence signifies an acknowledgment that a modern energy company must address sustainability to maintain its social license to operate and attract investment. Devon has been proactive in this arena, setting ambitious environmental, social, and governance (ESG) goals.

The company is targeting net-zero Scope 1 and 2 greenhouse gas (GHG) emissions by 2050, with an interim goal of a 50% reduction in GHG intensity by 2030. It has made tangible progress, reporting a 26% reduction by the end of 2024. On the critical issue of methane, Devon has already cut its emissions intensity by 45% and is a participant in the UN's Oil and Gas Methane Partnership 2.0 (OGMP 2.0), where it has achieved the "Gold Standard Pathway" for its advanced detection and reporting plans.

Beyond emissions targets, Devon is making strategic investments that blur the lines between traditional oil and gas and renewable energy. The company's $100 million total investment in geothermal technology firm Fervo Energy, including leading a $244 million funding round in early 2024, is a clear signal of its intent to participate in the broader energy ecosystem. This move provides a concrete example of how Devon is using its financial strength to gain a foothold in next-generation energy technologies, a topic likely to be of great interest to the conference's diverse audience.

A Barometer for a Turbulent 2026 Market

Gaspar's panel discussion is timed at the start of what is predicted to be a turbulent year for oil markets. Forecasts from the International Energy Agency (IEA) point to a potential oil surplus in 2026, which could keep downward pressure on prices. After a 20% drop in 2025, Brent crude entered the new year hovering around $60 per barrel, with the U.S. Energy Information Administration (EIA) projecting it could fall further to an average of $55 in the first quarter.

Against this backdrop, Devon's stated strategy for 2026—to maintain consistent production levels of around 845,000 barrels of oil equivalent per day rather than adding incremental barrels to a well-supplied market—is emblematic of a wider industry trend. Capital discipline has become the new mantra, replacing the growth-at-all-costs mentality of previous cycles. Gaspar is expected to frame this conservative posture not as a lack of ambition, but as a prudent and responsible strategy to protect shareholder value amidst macroeconomic uncertainty and geopolitical volatility.

This disciplined approach is further enabled by technological advancements. The industry's push towards digital transformation and the use of artificial intelligence to optimize operations is a key theme, and Devon is leveraging these tools to enhance production efficiency and drive down costs. By integrating AI into its workflows, the company reinforces its core message of maximizing value from its world-class acreage in the Delaware Basin while keeping a firm hand on expenditures.

The panel at the Goldman Sachs conference will therefore serve as more than just a corporate update; it will be a real-time test of Devon's ability to articulate a compelling, multi-faceted strategy. For investors, it will be a critical moment to assess the leadership and vision of a company steering through the crosscurrents of a legacy industry and a low-carbon future.