Key Takeaways Devon Energy leverages a high-margin multi-basin portfolio with oil, gas and NGL exposure to drive output.DVN closed the Grayson Mill Williston Basin deal, tripling production to 150,000 Boe/d. Devon Energy generated over $2B free cash flow in 2025, funding dividends and buybacks with$200-$300M.Devon Energy (DVN) has been gaining from a top-notch multi-basin portfolio, debt and cost management, generation of free cash flow and acquisitions that boost expansion and production.Long-term (three ...