67.4 F
Fort Worth
Thursday, September 24, 2020
- Advertisements -
Energy Devon Energy reports 2Q earnings surge

Devon Energy reports 2Q earnings surge

Other News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for September delivery rose 31 cents to settle at $41.60 a barrel Monday. Brent crude...

Trump to discuss energy, tour oil rig, raise money in Texas

By DARLENE SUPERVILLE Associated PressWASHINGTON (AP) — President Donald Trump will shift his focus to American energy dominance during a stop in...

Basic Energy Services makes organizational changes

Fort Worth-based Basic Energy Services, Inc. (OTCQX: BASX) in late May announced the implementation of changes to the organizational structure of the...

Texas oil producers were cutting output before Railroad Commission chose not to, Commissioner Christi Craddick says

By Cassandra PollockMay 12, 2020 Texas Railroad Commissioner Christi Craddick on Tuesday doubled down on the agency’s recent decision...
Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

  A. Lee Graham Reporter   Devon Energy Corp. has reported net earnings of $683 million, or $1.69 per common share, for the second quarter of 2013.   That’s 43 percent more than the same quarter last year when the Oklahoma City-based company reported net earnings of $477 million, or $1.18 per share.   Not including items securities analysts often exclude from their published estimates, the company earned $491 million, or $1.21 per diluted share in the second quarter. That represents 119 percent more compared to the second quarter of 2012.   Total production surged to an average of 698,000 oil-equivalent barrels per day in second-quarter 2013, surpassing the peak of the company’s guidance range by 8,000 barrels per day. That’s the highest average daily rate in Devon’s history from its North American property base, the company said.   Helping the company’s second-quarter production was better-than-expected results from the Barnett Shale and the Permian Basin, among other core development areas.   “The second quarter was an outstanding one for Devon as we continued to successfully grow high-margin oil production,” said president and CEO John Richels in a news release.   “We remain on track to deliver total companywide oil production growth in the high teens for 2013, led by light-oil growth of nearly 40 percent in the U.S.,” Richels said.   Devon Energy Corp. is an independent oil and gas exploration and production company. More information is available at www.devonenergy.com. lgraham@bizpress.net

- Advertisements -
- Advertisements -

Latest News

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for November delivery rose 33 cents to $39.93 a barrel Wednesday. Brent crude oil for...

Closing prices for crude oil, gold and other commodities

The Associated Press Benchmark U.S. crude oil for October delivery rose 81 cents to $40.97 a barrel Thursday. Brent crude oil for...

U.S. Energy Development Corp. announces $8.5 million deal in the Permian Basin

U.S. Energy Development Corporation, an exploration and production firm that provides direct investments in energy, has announced an interest in a horizontal...

Closing prices for crude oil, gold and other commodities

The Associated PressBenchmark U.S. crude oil for October delivery fell 7 cents to $37.26 a barrel Monday. Brent crude oil for November...

OPEC cuts oil demand forecasts, BP sees ‘peak oil’ in 2020s

LONDON (AP) — Developing countries' difficulty in containing the spread of the coronavirus pandemic will keep a lid...