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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Devon Energy announces active sales plans

Devon Energy announces active sales plans



Devon reported net daily total production over the fourth quarter on average, 532,000 barrels of oil equivalent, exceeding mid-point management by 3,000 equivalents per day. Day and oil account for 47 percent of the total.

Devon's estimated proven reserves in December 31 were $ 1.9 billion. Equivalent barrels where proven developed reserves account for 77 percent of the total, and increases come primarily from assets that the company intends to retain.

On Tuesday, Hager said Devon successfully surpassed its ongoing exploration and production work in the US in 2018 for full-field development efforts, which resulted in significant growth in growth in light oil production.

He also said it was part of Devon's decision to share roads with his Canadian and child rights assets, listing the latter companies & # 39; t compete for investment costs as the way higher value oil producing areas can.

"They have been great, historic and th eye is driven by great people," he said. "But if we don't invest in them, they might be better in the hands of others who want to invest in them and create an increasing value."

"It's all about focus. In our case we are lucky because we have assets, not just in some of the better US on-shore basins, but we have some of the best positions in some of these basins. given us the operating scale that we have now achieved, which we feel we can grow for a long time. "

Devon also reported earnings for the quarter 201

8 and for the year on Tuesday.

The company achieved a net income of about $ 1.15 billion in the quarter of 2018 compared to $ 183 million in the same period last year based on $ 3.7 billion and $ 2.38 billion, respectively.

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