Devon Energy

Leadership transitioned smoothly to CEO Clay Gaspar on March 1, 2025, after his tenure as COO and extensive technical background. Under this team Devon tightened costs, beat several 2025 operational targets, and laid out a detailed, time‑bound optimization plan with measurable milestones.

The strategy emphasizes returns on capital, balance sheet strength, and disciplined returns to shareholders. Execution quality is evident in 2025 production, unit‑cost reductions, and program under‑spend, though the pending Coterra merger adds integration complexity to manage.