Here in Okie Land, we’re only 21 glorious days away before OU football kicks off its season vs Temple on our blessed Sooners turf. While Reese Energy Consulting CEO Steve Reese weeps tears of joy ahead of this first game, Okla. City-based Devon Energy might as well host an earnings-season tailgate party after scoring a record-breaking, second-quarter touchdown. And it has plenty of room and reason to do just that. The oil and gas company, which claims the state’s tallest skyscraper at 844-ft, has beat Wall Street estimates for four consecutive quarters and feelin’ high and mighty.

Devon wasn’t what you’d call a Sooner amid the consolidation land rush of late. But it’s certainly proved to be a Boomer—not to be hurried, not caving to pressure to make a move, but taking time to land the right opportunity. And one that’s now paying off in spades. Devon found that opportunity just last month, and its choice may have been the least expected. With operations in the Permian, Williston, Anadarko, Powder River, and Eagle Ford, Devon’s largest revenue driver lies in the Permian Delaware, competing for 66% of the company’s 2024 CAPEX.

When you weren’t looking, Devon in July made a $5 billion cash-and-stock deal for Houston-based Grayson Mill Energy, tripling its position in the Williston Basin with an added 307,000 net acres, 100 MBOED of production, and a big gob of midstream assets. Now for the second time this year, Devon has raised its production forecast and blown away Wall Street estimates with 2Q net earnings of $844 million and record production of 707 MBOED—a 7% increase vs 2Q in 2023—and largely due to that least-expected choice that’s made Devon this season’s MVP.