Earnings Highlights BP, DVN, & GPOR

British Petroleum (BP)

BP said that 2025 upstream production is ahead of plan, increasing by around 3% quarter-on quarter. In the US, BPX Energy started-up Crossroads, the fourth and final central delivery facility in the Permian Basin, increasing takeaway capacity in the liquids-rich basin as BP continues to grow production out to the end of the decade. Full year 2025 production guidance is unchanged from the prior reporting quarter. 

Devon Energy (DVN)

Devon Energy’s Q2 2025 natural gas production exceeded the top-end of guidance. The company’s oil production exceeded the midpoint of guidance. For the second consecutive quarter, Devon reduced its capital expenditure guidance by $100 million while raising production forecast guidance.

Based on the strength of results to date, Devon is increasing its full-year 2025 oil production forecast. The company is also increasing its 2025 natural gas production outlook.

Gulfport Energy (GPOR)

Q2 2025 production volumes increased 8% over the first quarter, reflecting strong well results on the liquids side. Dry natural gas production underperformed relative to the annual production guidance midpoint in Q2 2025. The company’s full year 2025 production guidance is unchanged from the prior reporting quarter.