Market Report -- In Play (DVN)
November 4, 2009 7:53 AM ET
Devon Energy beats by $0.20, beats on revs Reports Q3 (Sep) earnings of $1.10 per share, ex-items,
$0.20 better than the First Call consensus of $0.90; revenues fell 64.9% year/year to $2.1 bln vs the $2.04 bln consensus. Production of oil, natural gas and natural gas liquids increased 6% to 61.9 mln oil-equivalent barrels (Boe) in 3Q09. Costs in nearly every expense category were lower in 3Q09 compared with the same period in the previous year. Strong production growth and lower overall costs were more than offset by significantly lower product prices.
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