SOURCE: Industrial Info Resources

Industrial Info Resources

November 08, 2012 06:15 ET

Devon Energy Sets Eyes on Oil Production in 2013, Despite Earnings Damage From Low Gas Prices, an Industrial Info News Alert

SUGAR LAND, TX--(Marketwire - Nov 8, 2012) - Researched by Industrial Info Resources (Sugar Land, Texas) -- Leading U.S. oil and gas company Devon Energy Corporation (NYSE:DVN) (Oklahoma City, Oklahoma) reported a steep decline in earnings and revenues for the third quarter of 2012, as sharply lower prices for oil, gas and natural gas liquid (NGL) offset the benefits of increased production. The company reported a net loss for the quarter of $719 million, compared with net earnings of $1.04 billion in third-quarter 2011. Industrial Info is tracking more than $7 billion in active projects involving Devon.

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