Tuesday, March 31, 2020

Devon Energy Posts Q2 Profit vs Year-ago Loss

Posted by August 1, 2017

U.S. oil and gas producer Devon Energy Corp reported a quarterly profit, compared with a year-ago loss when the company recorded a $1.50 billion asset impairment charge.

The net income attributable to Devon was $425 million, or 80 cents per share, in the second quarter ended June 30, compared with a loss of $1.57 billion, or $3.04 per share, a year earlier.
Production fell nearly 17 percent to 536,000 barrels of oil equivalent per day.

(Reporting by John Benny in Bengaluru; Editing by Sriraj Kalluvila)

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