v3.25.2
Investments
6 Months Ended
Jun. 30, 2025
Investments [Abstract]  
Investments Investments

The following table presents Devon's investments shown on the consolidated balance sheets.

 

 

 

 

 

Carrying Amount

 

Investments

 

% Interest

 

June 30, 2025

 

 

December 31, 2024

 

Catalyst

 

50%

 

$

261

 

 

$

273

 

Water JV

 

30%

 

 

223

 

 

 

216

 

Fervo

 

17%

 

 

108

 

 

 

115

 

Matterhorn

 

12.5%

 

 

 

 

 

69

 

Other

 

Various

 

 

48

 

 

 

54

 

      Total

 

 

 

$

640

 

 

$

727

 

 

During the second quarter of 2025, Devon sold its investment in Matterhorn for $372 million and recognized a pre-tax gain of $307 million ($239 million, net of tax), which was recorded to asset dispositions in the accompanying consolidated statements of comprehensive earnings.