The following table summarizes Devon’s restructuring and transaction costs.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025
Restructuring	$	198	$	9	$	198	$	27
Transaction costs		48		—		67		—
Total	$	246	$	9	$	265	$	27

In conjunction with the Merger closing, Devon recognized $198 million of restructuring expenses during the first six months of 2026 primarily related to employee severance, termination and relocation benefits and contract terminations. Of these expenses, $37 million resulted from accelerated vesting of share-based grants, which are non-cash charges. Additionally, in conjunction with the Merger closing, Devon recognized $67 million of transaction costs primarily comprised of bank, legal and advisory fees associated with the Merger.

The following table summarizes Devon’s restructuring liabilities.


	Other			Other
	Current			Long-term
	Liabilities			Liabilities		Total
Balance as of December 31, 2025	$	1		$	—	$	1
Changes related to 2026 merger-related employee costs		78			48		126
Changes related to prior years’ restructurings		(1	)		—		(1	)
Balance as of June 30, 2026	$	78		$	48	$	126