Lower 48 stalwart Devon Energy Corp. is working with fewer rigs and completion crews across its four core holdings in the Lower 48, but stronger oil production still is in sight for the year, along with a special dividend payment from former natural gas juggernaut, the Barnett Shale.

CEO Dave Hager led a conference call Wednesday with his management team to share quarterly results and highlight the outlook to the end of the year. While many energy operators have reduced or eliminated dividends in light of the sharp decline in profits, Devon’s board is giving back, approving a special dividend predicated on the accelerated sale of the Barnett portfolio.

Beyond the numbers, though, the CEO praised how the workforce has come together with the pandemic raging. 

“As we...