— Devon Energy Inc. (NYSE: DVN) reported its third-quarter 2019 core earnings of $0.26 per share versus $0.16 per share expected.
— Total revenue fell by 14% to $1.85 billion versus $1.72 billion expected.
— Total net production from retained assets averaged 325,000 oil-equivalent barrels (Boe) per day.
— Oil production jumped by 19% to 148,000 barrels per day. This exceeded midpoint guidance by 3% or 4,000 barrels per day due to strong wells productivity and timing of completions in the Delaware Basin.
— The realized price, including commodity hedges, was $27.73 per Boe, compared to the prior quarter of $27.84 per Boe. This reflects lower crude, natural gas, and natural gas liquids pricing.
— Looking ahead into the fourth quarter, the company expects oil production from retained assets to average 154,000 to 160,000 barrels per day, a 6% sequential quarter improvement at the midpoint.
— Upstream capital from retained assets are still anticipated to be $1.83 billion to $1.87 billion for the full year and is now expected to be $375 million to $420 million for the fourth quarter.
Most Popular
MRK Earnings: Merck Q1 2024 profit jumps on 9% revenue growth
Pharmaceutical company Merck & Co. Inc. (NYSE: MRK) reported a sharp increase in adjusted earnings for the first quarter of 2024, aided by an increase in revenues. First-quarter worldwide sales
Infographic: A snapshot of Caterpillar’s (CAT) Q1 2024 financial results
Caterpillar Inc. (NYSE: CAT), a leading manufacturer of construction and mining equipment, on Thursday reported first-quarter 2024 financial results. Sales and revenues for the first quarter of 2024 were $15.8
AAL Earnings: Key quarterly highlights from American Airlines’ Q1 2024 financial results
American Airlines Group Inc. (NASDAQ: AAL) reported its first quarter 2024 earnings results today. Total operating revenues increased 3.1% year-over-year to $12.5 billion. Net loss amounted to $312 million, or $0.48