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Devon Oil Production Growth May Be Less Than Expected
Feb. 16, 2011 02:16PM PST
Oil and Gas InvestingBloomberg reports Devon Energy Corp. (FRA:DY6) announced production growth of oil and petroleum liquids this year may be less than the company forecast because some wells are producing more natural gas than expected.
Bloomberg reports Devon Energy Corp. (FRA:DY6) announced production growth of oil and petroleum liquids this year may be less than the company forecast because some wells are producing more natural gas than expected.
The market news is quoted as saying:
Devon last year agreed to sell offshore and overseas assets and used the proceeds to buy back stock and pay down debt. The production forecast includes first oil late this year from Jackfish 2, an oil-sands project in Alberta.