Devon Energy Corporation

Published : August 04th, 2015

Devon Energy Reports Second-Quarter 2015 Results

( 0 vote, 0/5 ) Print article
  Article Comments Comment this article Rating Follow Company  
0
Send
0
comment

Devon Energy Reports Second-Quarter 2015 Results

OKLAHOMA CITY--(BUSINESS WIRE)--

Devon Energy Corp. ( DVN ) today announced core earnings of $320 million, or $0.78 per diluted share, for the second quarter of 2015. This compares with first-quarter 2015 core earnings of $89 million, or $0.22 per diluted share.

Devon delivered another high-quality performance in the second quarter as we continued to realize significant operational improvements across our portfolio, said Dave Hager, president and CEO. Our oil-focused drilling programs in North Americas best resource plays achieved outstanding well performance, and we made substantial progress reducing well costs and operating expenses. This superior execution contributed to more than 30 percent growth in total oil production year over year and record oil output in the U.S., led by our Eagle Ford and Delaware Basin assets.

With current industry conditions, we are focused on maintaining flexibility in our capital programs, Hager said. To ensure this optionality, we have minimal exposure to long-term service contracts, no long-term project commitments and negligible leasehold expiration issues. This allows us to dynamically allocate capital to our highest-returning areas while balancing investment with cash flow. We believe this advantage, combined with our high-quality asset base and strong balance sheet, positions Devon as well as anyone in the E&P space.

On a reported basis, due to a non-cash, full-cost ceiling charge, Devon had a net loss of $2.8 billion, or $6.94 per diluted share, for the second-quarter 2015. This compares with second-quarter 2014 reported net earnings of $675 million, or $1.64 per diluted share.

Oil Production Exceeds Expectations for Fourth Consecutive Quarter

Devons oil-driven capital program continued to deliver strong results in the second quarter of 2015. Total oil production averaged 270,000 barrels per day, a 32 percent increase compared to the second quarter of 2014. This result surpassed the midpoint of guidance by 5,000 barrels per day, marking the fourth consecutive quarter the Company has exceeded oil production expectations.

The most significant growth came from the Companys U.S. operations, where oil production averaged a record high 172,000 barrels per day. This result was 35 percent higher than the year-ago quarter and exceeded the top end of guidance expectations by 2,000 barrels per day. Growth in U.S. production was largely attributable to the Companys Eagle Ford and Delaware Basin assets. Net production in the Eagle Ford averaged 114,000 Boe per day in the second quarter, a 75 percent increase compared to the second quarter of 2014. In the Delaware Basin, led by outstanding results from the Bone Spring play, production increased to 64,000 Boe per day in the second quarter, a 40 percent increase compared to the year-ago period.

In Canada, net production from the Companys heavy-oil projects reached an average 98,000 barrels of oil per day in the second quarter. Driven by the continued ramp-up of the Jackfish 3 facility, Canadian oil production increased 27 percent compared to the second quarter of 2014. Scheduled maintenance at the Companys Jackfish 1 oil sands project limited production by approximately 11,000 barrels per day in the quarter.

In total, Devons production averaged 674,000 Boe per day during the second quarter of 2015. This result represents a 9 percent increase compared to the second quarter of 2014, with liquids accounting for 60 percent of the Companys production mix.

Operations Report

For additional details on Devons E&P operations, please refer to the Companys second-quarter 2015 Operations Report at www.devonenergy.com . Highlights from the report include:

  • Delaware Basin type curves improving
  • Eagle Ford produces best-in-class well results
  • Heavy oil output continues to grow while margins expand
  • Cana and Meramec plays generate high-rate wells
  • Powder River Basin delivers substantial growth rates

Upstream Revenue Increases 18 Percent; Midstream Profit Expands

Revenue from oil, natural gas and natural gas liquids sales totaled $1.6 billion, an 18 percent increase compared to the first quarter of 2015. The revenue growth was attributable to the increase in higher margin U.S. oil production combined with improved oil price realizations. These factors resulted in second-quarter oil sales increasing to more than 70 percent of Devons total upstream revenues.

Cash settlements related to oil and natural gas hedges increased revenue by nearly $500 million, or $8 per Boe in the second quarter. At the end of June, the Companys remaining commodity hedges had a fair-market value of approximately $850 million. This attractive hedging position represents 55 percent of forecasted oil production and 45 percent of expected natural gas production for the remaining two quarters of 2015.

Devons midstream operating profit reached $225 million, which exceeded the Companys guidance and was 16 percent higher than the first quarter of 2015. The increase in operating profit was driven by growth from EnLink Midstream.

Cost Reduction Initiatives Delivering Results

The Company has several cost reduction initiatives underway that positively impacted second-quarter results. Field-level operating costs, which includes both lease operating expenses and production taxes, declined 8 percent compared to the second quarter of 2014 to $11.05 per Boe. These cost savings were realized across all regions of Devons asset portfolio.

Significant general and administrative (G&A) cost savings also were achieved in the second quarter. G&A expenses totaled $212 million, which was below the low end of guidance and a 16 percent decline compared to the first quarter.

Based on year-to-date cost savings, Devon now anticipates its field-level operating costs and G&A to decline to around $14.50 per Boe for the full-year 2015. Compared to original guidance, this implies a full-year cost savings of around $400 million.

Balance Sheet and Liquidity Remain Strong

Operating cash flow in the second quarter, excluding the consolidation of EnLink Midstream, reached $1.0 billion. Combined with the sale of the Victoria Express Pipeline, EnLink secondary offering proceeds and EnLink partnership distributions, Devons second-quarter cash inflows totaled $1.3 billion.

Devons financial position remained exceptionally strong with investment-grade credit ratings and cash balances of $1.7 billion at the end of the quarter. The Companys net debt, excluding non-recourse EnLink obligations, totaled $7.6 billion.

Production Outlook on Track; Additional Capital Cost Savings Expected

Detailed forward-looking guidance for the third quarter and full-year 2015 is provided later in the release. Given the strong year-to-date production performance, the Company is well positioned to deliver on its 2015 oil growth target of 25 to 35 percent. Devon also remains on track to increase top-line production by 5 to 10 percent.

The Company expects to achieve these attractive production growth targets with lower capital cost requirements. Since the beginning of the year, Devon has reduced projected 2015 capital spending by approximately $350 million.

Non-GAAP Reconciliations

Pursuant to regulatory disclosure requirements, Devon is required to reconcile non-GAAP financial measures to the related GAAP information (GAAP refers to generally accepted accounting principles). Core earnings and net debt are non-GAAP financial measures referenced within this release. Reconciliations of these non-GAAP measures are provided later in this release.

Conference Call Webcast and Supplemental Earnings Materials

Please note that as soon as practicable today, Devon will post additional information, consisting of an operations report and management commentary with associated slides, to its website at www.devonenergy.com . The Companys second-quarter 2015 conference call will be held at 10 a.m. Central (11 a.m. Eastern) on Wednesday, August 5, 2015, and will serve primarily as a forum for analyst and investor questions and answers.

Forward-Looking Statements

This press release includes "forward-looking statements" as defined by the Securities and Exchange Commission (SEC). Such statements include those concerning strategic plans, expectations and objectives for future operations, and are often identified by use of the words forecasts, projections, estimates, plans, expectations, targets, opportunities, potential, outlook and other similar terminology. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company. Statements regarding future drilling and production are subject to all of the risks and uncertainties normally incident to the exploration for and development and production of oil and gas. These risks include, but are not limited to, the volatility of oil, natural gas and NGL prices; uncertainties inherent in estimating oil, natural gas and NGL reserves; the extent to which we are successful in acquiring and discovering additional reserves; unforeseen changes in the rate of production from our oil and gas properties; uncertainties in future exploration and drilling results; uncertainties inherent in estimating the cost of drilling and completing wells; drilling risks; competition for leases, materials, people and capital; midstream capacity constraints and potential interruptions in production; risk related to our hedging activities; environmental risks; political changes; changes in laws or regulations; our limited control over third parties who operate our oil and gas properties; our ability to successfully complete mergers, acquisitions and divestitures; and other risks identified in our Form 10-K and our other filings with the SEC. Investors are cautioned that any such statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in the forward-looking statements. The forward-looking statements in this press release are made as of the date of this press release, even if subsequently made available by Devon on its website or otherwise. Devon does not undertake any obligation to update the forward-looking statements as a result of new information, future events or otherwise.

The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves that meet the SEC's definitions for such terms, and price and cost sensitivities for such reserves, and prohibits disclosure of resources that do not constitute such reserves. This release may contain certain terms, such as resource potential and exploration target size. These estimates are by their nature more speculative than estimates of proved, probable and possible reserves and accordingly are subject to substantially greater risk of being actually realized. The SEC guidelines strictly prohibit us from including these estimates in filings with the SEC. Investors are urged to consider closely the disclosure in our Form 10-K, available at www.devonenergy.com . You can also obtain this form from the SEC by calling 1-800-SEC-0330 or from the SECs website at www.sec.gov .

About Devon Energy

Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The Company is the second-largest oil producer among North American onshore independents. For more information, please visit www.devonenergy.com .

DEVON ENERGY CORPORATION
FINANCIAL AND OPERATIONAL INFORMATION

                       
Quarter Ended Six Months Ended
PRODUCTION NET OF ROYALTIES June 30, June 30,
2015 2014 2015 2014
 
Oil and bitumen (MBbls/d)
United States 172 128 170 112
Canada 98 77 101 78
Retained assets 270 205 271 190
Divested assets - 4 - 10
Total 270 209 271 200
Natural gas liquids (MBbls/d)
United States 134 130 136 125
Divested assets - 6 - 11
Total 134 136 136 136
Gas (MMcf/d)
United States 1,607 1,689 1,612 1,638
Canada 20 23 24 22
Retained assets 1,627 1,712 1,636 1,660
Divested assets - 219 - 401
Total 1,627 1,931 1,636 2,061
Oil equivalent (MBoe/d)
United States 573 539 574 511
Canada 101 81 105 81
Retained assets 674 620 679 592
Divested assets - 47 - 87
Total 674 667 679 679
 
               
KEY OPERATING STATISTICS BY REGION
Quarter Ended June 30, 2015

Avg. Production
(MBoe/d)

Gross Wells Drilled

Operated Rigs at
June 30, 2015

Permian Basin 113 61 14
Eagle Ford 114 55 -
Canadian Heavy Oil 101 10 1
Anadarko Basin 82 22 6
Barnett Shale 185 - -
Rockies 27 21 2
Other assets 52 20 -
Total 674 189 23
 
                           
PRODUCTION TREND 2014 2014 2014 2015 2015
Quarter 2 Quarter 3 Quarter 4 Quarter 1 Quarter 2
 
Oil (MBbls/d)
Permian Basin 55 56 55 60 67
Eagle Ford 40 47 60 75 67
Canadian Heavy Oil 77 80 93 104 98
Anadarko Basin 11 10 10 9 10
Barnett Shale 2 2 2 1 1
Rockies 8 10 9 12 16
Other assets 12 11 10 11 11
Retained assets 205 216 239 272 270
Divested assets 4 3 - - -
Total 209 219 239 272 270
Natural gas liquids (MBbls/d)
Permian Basin 18 19 20 19 21
Eagle Ford 11 14 18 23 24
Anadarko Basin 31 34 34 30 24
Barnett Shale 55 54 53 51 49
Rockies 1 1 1 1 1
Other assets 14 16 15 15 15
Retained assets 130 138 141 139 134
Divested assets 6 5 - - -
Total 136 143 141 139 134
Gas (MMcf/d)
Permian Basin 134 136 137 137 152
Eagle Ford 88 109 127 143 146
Canadian Heavy Oil 23 26 23 28 20
Anadarko Basin 309 323 329 297 290
Barnett Shale 932 896 878 827 805
Rockies 67 66 58 53 62
Other assets 159 160 155 160 152
Retained assets 1,712 1,716 1,707 1,645 1,627
Divested assets 219 138 3 - -
Total 1,931 1,854 1,710 1,645 1,627
Oil equivalent (MBoe/d)
Permian Basin 95 98 98 102 113
Eagle Ford 65 79 99 122 114
Canadian Heavy Oil 81 84 97 109 101
Anadarko Basin 93 98 100 88 82
Barnett Shale 212 205 201 191 185
Rockies 21 22 19 22 27
Other assets 53 54 50 51 52
Retained assets 620 640 664 685 674
Divested assets 47 31 1 - -
Total 667 671 665 685 674
 
                       
BENCHMARK PRICES
(average prices) Quarter Ended June 30, Six Months Ended June 30,
2015 2014 2015 2014
Oil ($/Bbl) - West Texas Intermediate (Cushing) $ 57.78 $ 103.09 $ 53.33 $ 100.87
Natural Gas ($/Mcf) - Henry Hub $ 2.65 $ 4.68 $ 2.82 $ 4.81
 
REALIZED PRICES Quarter Ended June 30, 2015
Oil /Bitumen NGL Gas Total
(Per Bbl) (Per Bbl) (Per Mcf) (Per Boe)
United States $ 52.52 $ 10.31 $ 2.16 $ 24.18
Canada (1) $ 36.49  

$

N/M

$ 0.33   $ 35.33  
Realized price without hedges $ 46.69 $ 10.31 $ 2.13 $ 25.86
Cash settlements $ 16.08   $ - $ 0.58   $ 7.83  
Realized price, including cash settlements $ 62.77   $ 10.31 $ 2.71   $ 33.69  
 
Quarter Ended June 30, 2014
Oil /Bitumen NGL Gas Total
(Per Bbl) (Per Bbl) (Per Mcf) (Per Boe)
United States $ 95.71 $ 25.22 $ 4.19 $ 41.06
Canada (1) $ 69.45  

$

N/M

$ 1.56   $ 65.96  
Realized price without hedges $ 86.00 $ 25.13 $ 4.15 $ 44.12
Cash settlements $ (4.17 ) $ - $ (0.16 ) $ (1.78 )
Realized price, including cash settlements $ 81.83   $ 25.13 $ 3.99   $ 42.34  
 
Six Months Ended June 30, 2015
Oil NGL Gas Total
(Per Bbl) (Per Bbl) (Per Mcf) (Per Boe)
United States $ 47.74 $ 9.85 $ 2.31 $ 22.93
Canada (1) $ 29.51  

$

N/M

$ 0.79   $ 28.56  
Realized price without hedges $ 40.94 $ 9.85 $ 2.29 $ 23.80
Cash settlements $ 18.59   $ - $ 0.55   $ 8.72  
Realized price, including cash settlements $ 59.53   $ 9.85 $ 2.84   $ 32.52  
 
Six Months Ended June 30, 2014
Oil NGL Gas Total
(Per Bbl) (Per Bbl) (Per Mcf) (Per Boe)
United States $ 93.96 $ 27.34 $ 4.26 $ 40.30
Canada (1) $ 65.37   $ 50.17 $ 3.97   $ 53.26  
Realized price without hedges $ 82.10 $ 28.11 $ 4.23 $ 42.61
Cash settlements $ (3.19 ) $ - $ (0.25 ) $ (1.70 )
Realized price, including cash settlements $ 78.91   $ 28.11 $ 3.98   $ 40.91  
 
(1) The reported Canadian gas volumes include volumes that are produced from certain of our leases and then transported to our Jackfish operations where the gas is used as fuel. However, the revenues and expenses related to this consumed gas are eliminated in our consolidated financials.
 
                       
CONSOLIDATED STATEMENTS OF EARNINGS
(in millions, except per share amounts) Quarter Ended Six Months Ended
June 30, June 30,
2015 2014 2015 2014
Oil, gas and NGL sales $ 1,587 $ 2,679 $ 2,926 $ 5,236
Oil, gas and NGL derivatives (282 ) (399 ) 12 (719 )
Marketing and midstream revenues   2,088     2,230     3,720     3,718  
Total operating revenues   3,393     4,510     6,658     8,235  
Lease operating expenses 562 582 1,115 1,180
Marketing and midstream operating expenses 1,863 2,006 3,302 3,311
General and administrative expenses 212 189 463 400
Production and property taxes 116 150 224 287
Depreciation, depletion and amortization 814 828 1,744 1,567
Asset impairments 4,168 - 9,628 -
Restructuring costs - 5 - 42
Gains and losses on asset sales (1 ) (1,057 ) (1 ) (1,072 )
Other operating items   22     33     41     56  
Total operating expenses   7,756     2,736     16,516     5,771  
Operating income (loss) (4,363 ) 1,774 (9,858 ) 2,464
Net financing costs 125 131 242 243
Other nonoperating items   (9 )   89     3     107  
Earnings (loss) before income taxes (4,479 ) 1,554 (10,103 ) 2,114
Income tax expense (benefit)   (1,686 )   854     (3,721 )   1,085  
Net earnings (loss) (2,793 ) 700 (6,382 ) 1,029
Net earnings attributable to noncontrolling interests   23     25     33     30  
Net earnings (loss) attributable to Devon $ (2,816 ) $ 675   $ (6,415 ) $ 999  
 
Net earnings (loss) per share attributable to Devon:
Basic $ (6.94 ) $ 1.65 $ (15.81 ) $ 2.45
Diluted $ (6.94 ) $ 1.64 $ (15.81 ) $ 2.44
 
Weighted average common shares outstanding:
Basic 411 408 411 408
Diluted 411 411 411 410
 
null
                       
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in millions) Quarter Ended Six Months Ended
June 30, June 30,
2015 2014 2015 2014
Cash flows from operating activities:
Net earnings (loss) $ (2,793 ) $ 700 $ (6,382 ) $ 1,029
Adjustments to reconcile net earnings (loss)
to net cash from operating activities:
Depreciation, depletion and amortization 814 828 1,744 1,567
Asset impairments 4,168 - 9,628 -
Gains and losses on asset sales (1 ) (1,057 ) (1 ) (1,072 )
Deferred income tax expense (benefit) (1,593 ) 569 (3,640 ) 777
Derivatives and other financial instruments 305 454 (125 ) 761
Cash settlements on derivatives and financial instruments 464 (191 ) 1,183 (245 )
Other noncash charges 42 106 267 229
Net change in working capital (189 ) 622 26 470
Change in long-term other assets 18 11 159 (77 )
Change in long-term other liabilities   (134 )   7     (110 )   20  
Net cash from operating activities   1,101     2,049     2,749     3,459  
 
Cash flows from investing activities:
Capital expenditures (1,432 ) (1,758 ) (3,149 ) (3,341 )
Acquisitions of property, equipment and businesses (13 ) (289 ) (417 ) (6,224 )
Divestitures of property and equipment 6 2,800 8 2,942
Redemptions of long-term investments - - - 57
Other   (8 )   47     (5 )   84  
Net cash from investing activities   (1,447 )   800     (3,563 )   (6,482 )
 
Cash flows from financing activities:
Borrowings of long-term debt, net of issuance costs 2,094 374 3,051 3,720
Net short-term debt repayments (778 ) (1,119 ) (763 ) (862 )
Repayments of long-term debt (1,034 ) (2,413 ) (1,521 ) (3,990 )
Stock option exercises 4 72 4 83
Sale of subsidiary units 85 - 654 -
Issuance of subsidiary units 2 20 4 20
Dividends paid on common stock (98 ) (99 ) (197 ) (189 )
Distributions to noncontrolling interests (65 ) (41 ) (118 ) (141 )
Other   -     12     (12 )   9  
Net cash from financing activities   210     (3,194 )   1,102     (1,350 )
Effect of exchange rate changes on cash   3     24     (43 )   13  
Net change in cash and cash equivalents (133 ) (321 ) 245 (4,360 )
 
Cash and cash equivalents at beginning of period   1,858     2,027     1,480     6,066  
 
Cash and cash equivalents at end of period $ 1,725   $ 1,706   $ 1,725   $ 1,706  
 
         
CONSOLIDATED BALANCE SHEETS
(in millions)
June 30, December 31,
Current assets: 2015 2014
Cash and cash equivalents $ 1,725 $ 1,480
Accounts receivable 1,602 1,959
Derivatives, at fair value 924 1,993
Income taxes receivable 9 522
Other current assets   470     544  
Total current assets   4,730     6,498  
Property and equipment, at cost:
Oil and gas, based on full cost accounting:
Subject to amortization 77,191 75,738
Not subject to amortization   2,685     2,752  
Total oil and gas 79,876 78,490
Midstream and other   10,354     9,695  
Total property and equipment, at cost 90,230 88,185
Less accumulated depreciation, depletion and amortization   (62,406 )   (51,889 )
Property and equipment, net   27,824     36,296  
Goodwill 6,349 6,303
Other long-term assets   1,703     1,540  
Total assets $ 40,606   $ 50,637  
 
Current liabilities:
Accounts payable $ 1,035 $ 1,400
Revenues and royalties payable 1,095 1,193
Short-term debt 670 1,432
Deferred income taxes 346 730
Other current liabilities   852     1,180  
Total current liabilities   3,998     5,935  
Long-term debt 11,375 9,830
Asset retirement obligations 1,391 1,339
Other long-term liabilities 782 948
Deferred income taxes 2,909 6,244
Stockholders' equity:
Common stock 41 41
Additional paid-in capital 4,736 4,088
Retained earnings 10,018 16,631
Accumulated other comprehensive earnings   528     779  
Total stockholders' equity attributable to Devon 15,323 21,539
Noncontrolling interests   4,828     4,802  
Total stockholders' equity   20,151     26,341  
Total liabilities and stockholders' equity $ 40,606   $ 50,637  
Common shares outstanding 411 409
 
                     
CONSOLIDATING STATEMENTS OF OPERATIONS
(in millions)
Quarter Ended June 30, 2015

Devon U.S.
& Canada

EnLink Eliminations Total
Oil, gas and NGL sales $ 1,587 $ - $ - $ 1,587
Oil, gas and NGL derivatives (282 ) - - (282 )
Marketing and midstream revenues   985     1,274     (171 )   2,088  
Total operating revenues   2,290     1,274     (171 )   3,393  
Lease operating expenses 562 - - 562
Marketing and midstream operating expenses 970 1,064 (171 ) 1,863
General and administrative expenses 184 28 - 212
Production and property taxes 104 12 - 116
Depreciation, depletion and amortization 716 98 - 814
Asset impairments 4,168 - - 4,168
Gains and losses on asset sales (1 ) - - (1 )
Other operating items   22     -     -     22  
Total operating expenses   6,725     1,202     (171 )   7,756  
Operating income (loss) (4,435 ) 72 - (4,363 )
Net financing costs 99 26 - 125
Other nonoperating items   -     (9 )   -     (9 )
Earnings (loss) before income taxes (4,534 ) 55 - (4,479 )
Income tax expense (benefit)   (1,696 )   10     -     (1,686 )
Net earnings (loss) (2,838 ) 45 - (2,793 )
Net earnings attributable to noncontrolling interests   1     22     -     23  
Net earnings (loss) attributable to Devon $ (2,839 ) $ 23   $ -   $ (2,816 )
 

OTHER KEY STATISTICS

(in millions) Quarter Ended June 30, 2015

Devon U.S.
& Canada

EnLink Eliminations Total
Cash flow statement items:
Operating cash flow $ 995 $ 106 $ - $ 1,101
Capital expenditures $ (1,243 ) $ (189 ) $ - $ (1,432 )
Acquisitions of property, equipment and businesses $ - $ (13 ) $ - $ (13 )
Sale of subsidiary units $ 85 $ - $ - $ 85
EnLink distributions received (paid) (1) $ 236 $ (301 ) $ - $ (65 )
 
Balance sheet statement items:
Net debt(2) $ 7,565 $ 2,755 $ - $ 10,320
 
(1) Includes $171 million for the sale of the Victoria Express Pipeline.
(2) Net debt is a Non-GAAP measure. For a reconciliation of the comparable GAAP measure, see "Non-GAAP Financial Measures" later in this release.
 
         
CAPITAL EXPENDITURES
(in millions)
Quarter Ended June 30, 2015 Six Months Ended June 30, 2015
Exploration and development capital $ 882 $ 2,208
Capitalized G&A and interest 116 223
Acquisitions - 92
Midstream(1) 21 37
Corporate and other   14   41
Devon capital expenditures $ 1,033 $ 2,601
 

(1) Excludes $158 million and $672 million attributable to EnLink for the second quarter and first six months of 2015, respectively.

 

NON-GAAP FINANCIAL MEASURES

The United States Securities and Exchange Commission has adopted disclosure requirements for public companies such as Devon concerning Non-GAAP financial measures (GAAP refers to generally accepted accounting principles). The Company must reconcile the Non-GAAP financial measure to related GAAP information.

CORE EARNINGS
(in millions)

Devon’s reported net earnings include items of income and expense that are typically excluded by securities analysts in their published estimates of the Company’s financial results. Accordingly, the Company also uses the measures of core earnings and core earnings per diluted share. Devon believes these non-GAAP measures facilitate comparisons of its performance to earnings estimates published by securities analysts. Devon also believes these non-GAAP measures can facilitate comparisons of its performance between periods and to the performance of its peers. The following table summarizes the effects of these items on second-quarter 2015 earnings.

         
Quarter Ended June 30, 2015
Before-Tax After-Tax
 
Net loss attributable to Devon (GAAP) $ (2,816 )
Asset impairments 4,168 2,646
Fair value changes in financial instruments and foreign currency 761   490  
Core earnings attributable to Devon (Non-GAAP) $ 320  
Diluted share count 414
Core diluted earnings per share attributable to Devon (Non-GAAP) $ 0.78  
 

NET DEBT
(in millions)

Devon defines net debt as debt less cash and cash equivalents and net debt attributable to the consolidation of EnLink Midstream as presented in the following table. Devon believes that netting these sources of cash against debt and adjusting for EnLink net debt provides a clearer picture of the future demands on cash from Devon to repay debt.

               
June 30, 2015
Devon U.S. & Canada EnLink Devon Consolidated
 
Total debt (GAAP) $ 9,218 $ 2,827 $ 12,045
Less cash and cash equivalents   (1,653 )   (72 )   (1,725 )
Net debt (Non-GAAP) $ 7,565   $ 2,755   $ 10,320  
 
 

DEVON ENERGY CORPORATION
FORWARD LOOKING GUIDANCE

           
PRODUCTION GUIDANCE Quarter 3 Full Year
Low       High Low       High
 
Oil and bitumen (MBbls/d)
United States 155 165 160 170
Canada   105     115     100     110  
Total   260     280     260     280  
Natural gas liquids (MBbls/d)
United States 125 135 128 134
Gas (MMcf/d)
United States 1,500 1,550 1,550 1,600
Canada   15     20     15     20  
Total   1,515     1,570     1,565     1,620  
Oil equivalent (MBoe/d)
United States 530 558 546 571
Canada   108     118     103     113  
Total   638     676     649     684  
 
 
PRICE REALIZATIONS GUIDANCE Quarter 3 Full Year
Low High Low High
 
Oil and bitumen - % of WTI
United States 84 % 94 % 85 % 95 %
Canada 58 % 68 % 53 % 63 %
NGL - realized price $ 7 $ 12 $ 6 $ 16
Natural gas - % of Henry Hub 78 % 88 % 78 % 88 %
 
                       
OTHER GUIDANCE ITEMS Quarter 3 Full Year
($ millions, except Boe) Low High Low High
 
Marketing & midstream operating profit $ 195 $ 225 $ 830 $ 890
Lease operating expenses per Boe $ 8.90 $ 9.40 $ 8.80 $ 9.30
General & administrative expenses per Boe $ 3.40 $ 3.70 $ 3.40 $ 3.90
Production and property taxes as % of upstream sales 6.7 % 7.7 % 6.7 % 7.7 %
Depreciation, depletion and amortization per Boe $ 12.50 $ 13.50 $ 13.00 $ 14.00
Other operating items $ 15 $ 20 $ 60 $ 80
Net financing costs $ 130 $ 140 $ 480 $ 540
Current income tax rate 0.0 % 5.0 % 0.0 % 5.0 %
Deferred income tax rate   30.0 %   35.0 %   30.0 %   35.0 %
Total income tax rate   30.0 %   40.0 %   30.0 %   40.0 %
 
Net earnings attributable to noncontrolling interests $ 10 $ 30 $ 50 $ 100
 
 
CAPITAL EXPENDITURES GUIDANCE Quarter 3 Full Year
(in millions) Low High Low High
 
Exploration and development $ 900 $ 1,000 $ 3,900 $ 4,100
Capitalized G&A and interest 100 120 380 480
Midstream(1) 10 20 70 120
Corporate and other   15     25     60     110  
Devon capital expenditures $ 1,025   $ 1,165   $

4,410

  $

4,810

 
 
(1) Excludes capital expenditures related to EnLink.
                                       
COMMODITY HEDGES
Oil Commodity Hedges
Price Swaps Price Collars Call Options Sold
Period Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Volume (Bbls/d) Weighted Average Price ($/Bbl)
Q3-Q4 2015 106,000 $90.85 42,000 $82.40 $89.78 28,000 $116.43
 
 
Oil Basis Swaps
Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl)
Q3-Q4 2015 Western Canadian Select 40,000 $(15.79)
 
 
Natural Gas Commodity Hedges
Price Swaps Price Collars Call Options Sold
Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Floor Price ($/MMBtu) Weighted Average Ceiling Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Price ($/MMBtu)
Q3-Q4 2015 250,000 $4.32 462,500 $3.55 $3.85 550,000 $5.09
 

Devon’s oil derivatives settle against the average of the prompt month NYMEX West Texas Intermediate futures price. Devon’s natural gas derivatives settle against the Inside FERC first of the month Henry Hub index.

Read the rest of the article at finance.yahoo.com
Data and Statistics for these countries : Canada | All
Gold and Silver Prices for these countries : Canada | All

Devon Energy Corporation

CODE : DVN
ISIN : US25179M1036
Follow and Invest
Add to watch list Add to your portfolio Add or edit a note
Add Alert Add to Watchlists Add to Portfolio Add Note
ProfileMarket
Indicators
VALUE :
Projects & res.
Press
releases
Annual
report
RISK :
Asset profile
Contact Cpy

Devon Energy is a producing and oil company based in United states of america.

Devon Energy holds various exploration projects in Canada.

Its main exploration property is JACKFISH OIL SANDS PROJECT in Canada.

Devon Energy is listed in United States of America. Its market capitalisation is US$ 10.9 billions as of today (€ 9.8 billions).

Its stock quote reached its lowest recent point on August 18, 1995 at US$ 10.00, and its highest recent level on February 22, 2008 at US$ 99.19.

Devon Energy has 525 000 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
Rate : Average note :0 (0 vote) View Top rated
 
In the News and Medias of Devon Energy Corporation
2/22/2019Devon Energy pulling out of Canada
Nominations of Devon Energy Corporation
1/27/2014Appoints Barbara Baumann and John Bethancourt to Board of Di...
Project news of Devon Energy Corporation
11/20/2013Announces Acquisition of Eagle Ford Assets from GeoSouthern ...
8/1/2012Devon Energy Earns $477 Million in Second-Quarter 2012; Oil ...
8/1/2012Devon Energy Announces $1.4 Billion Joint Venture
5/2/2012Devon Energy Earns $393 Million in First-Quarter 2012; Oil P...
2/15/2012Devon Energy Reports 2011 Results; Record Net Earnings, Rese...
12/5/2011Devon Energy Obtains Approval for Third Jackfish Oil Sands P...
8/3/2011Devon Energy Earns $2.7 Billion in Second-Quarter 2011; Nort...
5/4/2011Devon Energy Earns $416 Million in First-Quarter 2011; North...
2/16/2011Devon Energy Reports Record 2010 Net Earnings and Proved Res...
Corporate news of Devon Energy Corporation
7/31/2017Announces $340 Million of Non-Core Asset Sales
8/21/201610 Oil & Gas Stocks Analysts Want You To Buy Now
8/2/2016Devon Energy reports 2Q loss
7/18/2016Announces Successful STACK Spacing Test and Record-Setting O...
7/14/2016Monetizes Access Pipeline for CAD $1.4 Billion (USD $1.1 Bil...
6/3/2016Oklahoma energy companies want earthquake lawsuit dismissed
5/3/2016Devon Energy reports 1Q loss
2/16/2016Devon Energy reports 4Q loss
2/9/2016Chesapeake stock tumbles, rises after investors spooked
2/2/2016Gasoline Inventories Rose Last Week despite Fall in Producti...
2/2/20164Q15 Crude Oil Prices: Fallout for the Energy Sector and SPY
2/2/2016What to Expect from Devon Energy’s 4Q15 Earnings
2/2/2016Devon Energy to Report Fourth-Quarter and Full-Year 2015 Res...
2/2/2016Independent Oil & Gas Equities Technical Notes -- Range Reso...
1/25/2016Devon Energy (DVN) Shows Strength: Stock Moves 6% Higher
1/22/2016Crude Oil Prices Rally Due to Short Covering, Weather Estima...
1/22/2016Could Bargain Hunting Support Crude Oil Prices?
1/14/2016The Zacks Analyst Blog Highlights: Anadarko Petroleum, Devon...
1/13/20164 Battered Companies Energy Insiders Are Buying
1/7/2016These 3 Companies’ Insiders Pile Up More Shares Amid Increas...
1/4/20164 Big Energy Stocks To Watch In 2016
1/4/2016Is Devon Energy (DVN) Stock a Solid Choice Right Now?
12/31/2015The Worst Stock Ideas Of December
12/31/2015Analyzing Upstream Companies’ Capital Expenditure
12/30/2015Natural Gas Stockpile Report Could Support Natural Gas Price...
12/28/2015Upstream Companies Generated Lower Cash Flows in Fiscal 3Q15
12/28/2015Snow slows truck traffic in Permian, some crude output hit
12/24/2015Devon Energy (DVN): The Perfect Mix of Value and Rising Earn...
12/23/2015Insider Buying Exploding In Energy Sector; 3 Energy-Related ...
12/22/2015Upstream Companies Generated Lower Cash Flows in Fiscal 3Q15
12/21/2015BP's Unit Acquires San Juan Basin Assets from Devon Energy
12/14/2015Hedge Funds Were Right to Ditch These Sinking Stocks, Part 1
11/29/2015Is Fifth Third Bancorp (FITB) A Good Stock To Buy?
11/28/2015Billionaire Glenn Russell Dubin’s 5 Best Stock Ideas for Q4
11/26/2015AEGON N.V. (ADR) (AEG): Are Hedge Funds Right About This Sto...
11/12/2015Top Analyst Upgrades and Downgrades: AMAG, Devon Energy, eBa...
11/12/2015Merrill Lynch Has 4 Blue Chip Energy Dividend Stocks to Own ...
11/6/2015U.S. shale producers see big budget cuts for 2016
11/4/2015Devon Energy plans to cut capital spending next year
11/4/2015Devon Energy Beats on Q3 Earnings, Ups Output Guidance
11/3/2015Devon Energy reports 3Q loss
11/3/2015Devon Energy has $3.5 bln quarterly loss on writedowns
11/3/2015Devon Energy Reports Third-Quarter 2015 Results
10/30/2015Natural Gas Prices Are Volatile Due to Inventory Report
10/29/2015Anadarko Petroleum Slips into Q3 Loss, Misses Revenues
10/29/2015Natural Gas Prices Slump Due to Weak Demand
10/28/2015Devon Energy cuts 15 percent of staff in Canada
10/27/2015Devon Energy to Present at Bank of America Merrill Lynch 201...
10/23/201510 S&P 100 Companies Paying The Highest And Lowest Taxes
10/20/2015Devon Energy to Report Third-Quarter 2015 Results Nov. 3; Co...
10/16/2015Natural Gas Stockpile Rose for the 28th Consecutive Week
10/7/2015Credit Suisse's Top 8 Energy Stocks: Schlumberger Out, Frank...
10/1/2015The Company That 'Invented' Shale Gas Might Surprise You
10/1/2015Top Analyst Upgrades and Downgrades: AGCO, Celgene, Devon En...
9/29/2015US Power Generation Rises for the First Time in 4 Weeks
9/27/2015US Natural Gas Consumption Falls in Week Ended September 9
9/23/2015Cheap Oil Hurting U.S. Producers: Shale Output Set to Shrink
9/22/2015US Power Generation Fell for the Fourth Straight Week
9/22/2015US Natural Gas Consumption Down 5.3% in Week Ended September...
9/21/2015Natural Gas Futures Fall Sharply Amid In-Line Supply Build
9/17/2015Higher US Natural Gas Consumption Supports Prices
9/16/2015Devon Energy Announces Fourth-Quarter Cash Dividend for Comm...
9/15/2015The Zacks Analyst Blog Highlights: Chesapeake Energy, Range ...
9/14/2015Bullish EIA Notwithstanding, Natural Gas Remains Subdued
9/11/2015Will the Natural Gas Inventory Rise for the 23rd Straight We...
9/8/2015Natural Gas Inventory Rose for the 22nd Straight Week
9/8/2015Natural Gas Production Estimates Pressure Natural Gas Prices
9/4/2015Morgan Stanley Rethinks E&P Stocks, Slashes Estimates For Cr...
9/3/2015Devon Energy to Present at UBS Houston Energy Bus-less Tour
9/3/2015Why Are Natural Gas Prices Falling ahead of the EIA Report?
9/2/2015US Power Generation Falls for the Third Week in a Row
8/26/2015US Power Generation Was Down for Second Week in a Row
8/26/2015Devon Energy to Present at Barclays CEO Energy-Power Confere...
8/21/2015Crude Oil Prices Are Steady at $40 per Barrel
8/18/2015Is This The Best Play In U.S. Oil?
8/18/2015Dan Loeb Buys T-Mobile During Second Quarter
8/18/2015The Zacks Analyst Blog Highlights: Chesapeake Energy, Range ...
8/17/2015XOP Shines in the Week Ended August 13
8/13/2015Can Devon Energy (DVN) Withstand Low Commodity Prices?
8/12/2015Are US Crude Oil Prices Trading within a Downward Channel?
8/10/2015When Will Oil Prices Turn Around?
8/10/2015Credit Suisse Names 8 Stocks To Buy In A Battered Energy Sec...
8/10/2015US Gas Fund (UNG) Rises in the Week Ended August 6
8/5/2015Edited Transcript of DVN earnings conference call or present...
8/5/2015Devon Energy Beats on Q2 Earnings; Cuts Capital Cost View - ...
8/4/2015Devon Energy reports 2Q loss
8/4/2015Devon Energy Reports Second-Quarter 2015 Results
8/4/2015Oklahoma regulators impose water injection cut to stem earth...
8/3/2015Will the Price Carnage Hit Devon's (DVN) Q2 Earnings? - Anal...
7/9/20154 Defensive Oil Exploration and Production Stocks to Buy Now
7/7/2015The Zacks Analyst Blog Highlights: Chesapeake Energy, Range ...
6/23/2015The Zacks Analyst Blog Highlights: Chesapeake Energy, Range ...
6/22/2015Natural Gas Loses Ground Despite Bullish Inventory Data - An...
5/20/2015Billionaire Ken Griffin’s Top Stock Picks Include Devon Ener...
5/9/201510-Q for Devon Energy Corp.
5/1/2015Yum! Brands, Inc. (YUM), Devon Energy Corp (DVN): Billionair...
4/16/2015Citi's Oil Vision Highlights Value In Devon Shale Portfolio
4/15/2015US Rig Count Drop Accelerated in the Week Ending April 10
4/14/2015Natural Gas Stocks Rise As Injection Season Begins
4/13/2015Devon Energy to Present at IPAA Oil and Gas Investment Sympo...
4/13/2015Magnetar Capital’s New Position in Devon Energy
4/13/2015Magnetar Capital Initiated New Positions in 4Q14
4/7/2015RBC Has 4 US Energy Best Idea Stocks to Buy
4/3/2015Conference-OGIS New York for Devon Energy Corp.
4/2/2015Why Natural Gas Prices Saw a Bearish Week
4/1/2015EnLink Midstream Partners, LP Completes Acquisition of Victo...
4/1/2015Natural Gas Injection Starts Before Heating Season Ends
4/1/2015Sector Snap: Energy stocks rise as Iran talks continue
3/31/2015Natural Gas Services, a Major Segment of DCP Midstream
3/30/2015Credit Suisse Reiterates Outperform, Raises PT On Devon Ener...
3/26/2015Point72 Asset Management Lowers Its Stake in Devon Energy
3/21/2015Natural gas production growth untamed despite fewer rigs
3/19/2015What Falling Estimates & Price Mean for Devon Energy (DVN) -...
3/17/2015The Zacks Analyst Blog Highlights: Carrizo Oil & Gas, Penn V...
3/17/2015Ray Dalio and Billionaires Are Crazy About These Stocks
3/16/2015Despite Healthy Draw Supply Glut Keeps Natural Gas Below $3 ...
3/16/2015Drilling efficiency and natural gas production
3/16/2015Utah - A Wildcat Buy Reminiscent of the Wolverine
3/12/2015The Zacks Analyst Blog Highlights: Carrizo Oil & Gas, Penn V...
3/12/2015Billionaire Ken Griffin’s Largest Energy Plays Include Exxon...
3/11/2015Natural Gas Production Rises in Feb, Keeps Strain on Prices ...
3/11/2015WTI crude oil is at monthly lows – barely keeps its 48.70 pi...
3/9/2015The Zacks Analyst Blog Highlights: Exxon Mobil, Chevron, Dev...
3/5/2015Dry natural gas production forecast to continue climb
3/5/2015Weekly recap: Natural gas prices
3/5/2015Devon Energy Announces Second-Quarter Cash Dividend for Comm...
2/26/2015Increasing natural gas production makes producers cringe
2/25/2015Why cold weather forecasts support natural gas prices
2/17/2015Devon Energy reports 4Q loss
11/4/2014Devon Energy beats Street 3Q forecasts
6/30/2014Devon Energy selling some US assets for $2.3B
2/19/2014Reports Fourth-Quarter and Full-Year 2013 Results
2/19/2014Announces C$3.125 Billion Sale of Canadian Conventional Asse...
12/4/2013Announces First Quarter Cash Dividend for Common Stockholder...
11/16/2013Announces Upcoming Investor Event
11/6/2013Reports Third-Quarter 2013 Results
11/5/2013Announces Upcoming Investor Event
8/7/2013Reports Second-Quarter 2013 Results
6/10/2013Devon Energy Announces Senior Management Appointments
6/6/2013Devon Energy to Form Midstream Master Limited Partnership
6/5/2013Devon Energy Announces Third Quarter Cash Dividend for Commo...
5/7/2013Devon Energy Announces Upcoming Investor Event
5/1/2013Devon Energy Announces First-Quarter 2013 Results
4/9/2013Devon Energy Announces Upcoming Investor Event
2/20/2013Devon Energy Reports Fourth-Quarter and Full-Year 2012 Resul...
11/8/2012Devon Energy Announces Upcoming Investor Event
11/7/2012Devon Energy Reports Third-Quarter 2012 Results
10/31/2012Devon Energy to Webcast Third-Quarter 2012 Earnings Conferen...
10/11/2012Devon Energy Announces Consolidation of U.S. E&P Operations
9/27/2012Devon Energy Announces Closing of $1.4 Billion Joint Venture
9/12/2012Devon Energy Announces Fourth Quarter Cash Dividend for Comm...
8/29/2012Devon Energy Announces Upcoming Investor Event
6/6/2012Devon Energy Announces Third Quarter Cash Dividend for Commo...
5/31/2012Devon Energy Announces Upcoming Investor Event
5/17/2012Devon Energy Announces Upcoming Investor Event
4/11/2012Devon Energy Announces Upcoming Investor Event
3/22/2012Devon Energy to Host Analyst Day
3/7/2012Devon Energy Announces Second Quarter Cash Dividend for Comm...
2/15/2012Devon Energy Increases Cash Dividend for Common Stockholders
2/6/2012Devon Energy Announces Upcoming Investor Event
1/4/2012Devon Energy Announces Upcoming Investor Event
1/3/2012Devon Energy Announces $2.2 Billion Transaction on Five New ...
12/13/2011Devon Energy Files Shelf Registration Statement
11/30/2011Devon Energy Announces First Quarter Cash Dividend for Commo...
9/14/2011Devon Energy Announces Fourth Quarter Cash Dividend for Comm...
9/1/2011Devon Energy Announces Upcoming Investor Event
6/21/2011Devon Energy to Webcast 2011 Capital and Operational Update ...
6/8/2011Devon Energy Announces Third Quarter Cash Dividend for Commo...
5/26/2011Devon Energy Provides Preliminary Report on Severe Weather D...
5/18/2011Devon Energy Announces Upcoming Investor Event
5/10/2011Devon Energy Receives Approval for Its Sale of Assets in Bra...
3/3/2011Devon Energy Increases Cash Dividend for Common Stockholders
2/17/2011Devon Energy Announces Change to Its Board of Directors
11/3/2008Completes Asset Exchange With Chevron
10/8/2007Closes Sale of Egyptian Operations
Comments closed
 
Latest comment posted for this article
Be the first to comment
Add your comment
NYSE (DVN)
20.67+2.12%
NYSE
US$ 20.67
10/22 16:01 0.430
2.12%
Prev close Open
20.24 20.34
Low High
20.09 21.18
Year l/h YTD var.
19.80 -  35.16 -8.30%
52 week l/h 52 week var.
19.80 -  35.16 -38.72%
Volume 1 month var.
6,453,096 -19.98%
24hGold TrendPower© : -12
Produces
Develops
Explores for
 
 
 
Analyse
Interactive chart Add to compare
Interactive
chart
Print Compare Export
You must be logged in to use the porfolio and watchlists (free)
Top Newsreleases
MOST READ
Annual variation
DateVariationHighLow
2019-7.97%24.7321.76
2018-45.75%46.5420.37
2017-9.35%49.4536.56
201644.26%50.6917.88
2015-46.29%68.5827.70
 
5 years chart
 
3 months chart
 
3 months volume chart
 
 
Mining Company News
Plymouth Minerals LTDPLH.AX
Plymouth Minerals Intersects Further High Grade Potash in Drilling at Banio Potash Project - Plannin
AU$ 0.12-8.00%Trend Power :
Santos(Ngas-Oil)STO.AX
announces expected non-cash impairment
AU$ 7.88+1.35%Trend Power :
Oceana Gold(Au)OGC.AX
RELEASES NEW TECHNICAL REPORT FOR THE HAILE GOLD MINE
AU$ 3.40-0.58%Trend Power :
Western Areas NL(Au-Ni-Pl)WSA.AX
Advance Notice - Full Year Results Conference Call
AU$ 3.27+4.81%Trend Power :
Canadian Zinc(Ag-Au-Cu)CZN.TO
Reports Financial Results for Q2 and Provides Project Updates
CA$ 0.12+4.55%Trend Power :
Stornoway Diamond(Gems-Au-Ur)SWY.TO
Second Quarter Results
CA$ 0.02+100.00%Trend Power :
McEwen Mining(Cu-Le-Zn)MUX
TO ACQUIRE BLACK FOX FROM PRIMERO=C2=A0
US$ 1.58+3.27%Trend Power :
Rentech(Coal-Ngas)RTK
Rentech Announces Results for Second Quarter 2017
US$ 0.20-12.28%Trend Power :
KEFIKEFI.L
Reduced Funding Requirement
GBX 0.74+10.45%Trend Power :
Lupaka Gold Corp.LPK.V
Lupaka Gold Receives First Tranche Under Amended Invicta Financing Agreement
CA$ 0.02+33.33%Trend Power :
Imperial(Ag-Au-Cu)III.TO
Closes Bridge Loan Financing
CA$ 1.91+0.00%Trend Power :
Guyana Goldfields(Cu-Zn-Pa)GUY.TO
Reports Second Quarter 2017 Results and Maintains Production Guidance
CA$ 0.83-1.19%Trend Power :
Lundin Mining(Ag-Au-Cu)LUN.TO
d Share Capital and Voting Rights for Lundin Mining
CA$ 6.70-2.19%Trend Power :
Canarc Res.(Au)CCM.TO
Canarc Reports High Grade Gold in Surface Rock Samples at Fondaway Canyon, Nevada
CA$ 0.06+8.33%Trend Power :
Havilah(Cu-Le-Zn)HAV.AX
Q A April 2017 Quarterly Report
AU$ 0.10+0.00%Trend Power :
Uranium Res.(Ur)URRE
Commences Lithium Exploration Drilling at the Columbus Basin Project
US$ 6.80-2.86%Trend Power :
Platinum Group Metals(Au-Cu-Gems)PTM.TO
Platinum Group Metals Ltd. Operational and Strategic Process ...
CA$ 2.01-4.74%Trend Power :
Devon Energy(Ngas-Oil)DVN
Announces $340 Million of Non-Core Asset Sales
US$ 20.67+2.12%Trend Power :
Precision Drilling(Oil)PD-UN.TO
Announces 2017Second Quarter Financial Results
CA$ 8.66-0.35%Trend Power :
Terramin(Ag-Au-Cu)TZN.AX
2nd Quarter Report
AU$ 0.05+0.00%Trend Power :