Monday, August 31, 2026
Devon joins shale firms to cut spending as oil hovers at $30- oil and gas 360

Devon Plans to Focus On STACK, Delaware Basin in 2017

Devon targets 2017 CapEx of $2.0-$2.3 billion Devon Energy (ticker: DVN) reported fourth quarter earnings yesterday and 2016 reserves today, showing net earnings of $331 million, $0.63 per share. Full year earnings are a loss of $3.302 billion, or ($6.52) per share. 2016 year end reserves are down to 2,058 MMBOE, from 2,182 MMBOE last year. Much of this decrease