Devon Energy
Q2 2023 Earnings Call
Aug 02, 2023, 11:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Ladies and gentlemen, welcome to Devon Energy's second quarter earnings conference call. [Operator instructions] This call is being recorded. And now, I'd like to turn the call over to Mr. Scott Coody, vice president of investor relations.
Sir, you may begin.
Scott Coody -- Vice President, Investor Relations
Good morning and thank you to everyone for joining us on the call today. Last night, we issued an earnings release and presentation that cover our results for the second quarter and our outlook for the remainder of 2023. Throughout the call today, we'll make references to the earnings presentation to support our prepared remarks, and these slides can be found on our website. Also joining me on the call today are Rick Muncrief, our president and CEO; Clay Gaspar, our chief operating officer; Jeff Ritenour, our chief financial officer; and a few other members of our senior management team.
Comments today will include plans, forecasts, and estimates that are forward-looking statements under U.S. securities law. These comments are subject to assumptions, risks, and uncertainties that could cause actual results to differ materially from our forward-looking statements. Please take note of the cautionary language and risk factors provided in our SEC filings and earnings materials.
With that, I'll turn the call over to Rick.
Rick Muncrief -- President and Chief Executive Officer
Thank you, Scott. A pleasure to be here this morning. We appreciate everyone taking the time to join us. Devon's second quarter performance can be defined as another one of solid execution on all fronts as our business continued to strengthen and build operational momentum throughout the quarter.
The attractive per-share growth we've consistently delivered quarter after quarter demonstrates the efficiency of our disciplined business model, the quality of our Delaware-focused asset portfolio, and the team's execution capabilities, and the benefits of our cash return framework. The slide -- the chart on Slide 4 provides a very compelling visual of this success, showcasing our impressive track record of value creation. Since we unveiled the industry-first framework in late 2020, we have deployed $12 billion toward dividends, share buybacks, debt reduction, and accretive bolt-on acquisitions. The cumulative value of these actions equates to nearly two times the value of Devon's pro forma market capitalization from just a few years ago.