Devon Energy (DVN) Tops Q3 EPS by 4c

Devon Energy (NYSE: DVN) reported Q3 EPS of $0.09, $0.04 better than the analyst estimate of $0.05.

Updated 2016 Outlook

Detailed forward-looking guidance for the fourth quarter of 2016 is provided later in the release. Based on year-to-date results and Devon’s fourth-quarter outlook, most operating and financial metrics remain relatively unchanged compared to previous guidance disclosures.

Of note, in the fourth quarter, the company expects to increase its rig activity in the U.S. from five operated rigs running in the third quarter to as many as 10 operated rigs by year end. This activity is expected to result in approximately $400 million to $425 million of E&P capital expenditures in the fourth quarter.

For earnings history and earnings-related data on Devon Energy (DVN) click here.

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