Devon Energy also pays a fixed-plus-variable dividend, with the variable rate at 50% of its post-base-dividend free cash flow. Its payout will consequently rise with oil prices. Meanwhile, it could use a portion of the free cash it doesn't pay in dividends to repurchase its cheap shares. The stock trades at a more than 8% free cash flow yield based on the free cash flow it can produce at $80 oil.
https://www.fool.com/investing/2023/04/03/4-oil-stocks-that-are-screaming-buys-in-april/