Devon Energy Corporation · NYSE:DVN
Devon Energy — Merger or Acquisition (June 2022)
5 slides from Devon Energy's merger presentation, Jun 8, 2022
Slide 1: Williston Basin Bolt-On Acquisition
Williston Basin Bolt-On Acquisition June 8, 2022 NYSE: DVN devonenergy.com
Slide 2: Transaction Advances Our Strategic Plan
Transaction Advances Our Strategic Plan #1 IMMEDIATELY ACCRETIVE TO PER-SHARE METRICS Attractive valuation: 2.2-times cash flow with a FCF yield of >25% #2 INCREASES RETURN OF CAPITAL TO SHAREHOLDERS Board to approve a 13% increase to the fixed dividend payout MAINTAINS TOP-TIER BALANCE SHEET #3 Exp
Slide 3: Enhances Williston Basin Asset Quality & Scale
Enhances Williston Basin Asset Quality & Scale PURCHASE DETAILS OVERLAPS EXISTING POSITION IN CORE OF THE PLAY Contiguous operated position of 38,000 net acres (88% working interest) Mountrail Price: $865 million (100% cash) Effective Date: 4/1/2022 Secures >100 highly economic drilling lo
Slide 4: Immediately Accretive to Per-Share Metrics
Immediately Accretive to Per-Share Metrics ACCRETION TO SHAREHOLDERS (PRO FORMA YEAR-ONE BENEFITS) TRANSACTION ADVANCES OUR FINANCIAL STRATEGY $ ATTRACTIVE PURCHASE PRICE 2.2X CASH FLOW (FCF YIELD: >25%) EARNINGS & CASH 3%-5% FLOW GROWTH PER-SHARE IMPROVEMENT MAINTAINS TOP-TIER 0.2X FINANCIAL STRENG
Slide 5: Investor Contacts & Notices
Investor Contacts & Notices Use of Non-GAAP Information Investor Relations Contacts This presentation may include non-GAAP (generally accepted accounting principles) financial measures. Such non-GAAP measures are not alternatives to GAAP measures, and you should not consider these non-GAAP measures