Debt ReductionDevon Energy sold their stake in Matterhorn Pipeline for $375 million, with proceeds going towards short-term debt reduction.
Financial GuidanceDevon Energy's decision to avoid cutting activity is expected to be positively received by the market, especially with high oil production and lower capital expenditure.
Operational PerformanceDevon Energy has been one of the better oil performers over the past quarter, and recent asset rationalizations and buybacks should maintain positive sentiment.