Devon Energy quarterly profit up on asset sales, output rises

Tue Nov 4, 2014 4:26pm EST
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Nov 4 (Reuters) - Devon Energy Corp, a North American onshore operator, on Tuesday reported a sharply higher quarterly profit as its results were helped by the sale of U.S. oil and gas properties.

The Oklahoma City-based company posted a third-quarter profit of $1 billion, or $2.47 per share, compared with $429 million, or $1.05 per share, in the same period a year ago.

Total oil and gas production from company's retained assets averaged 640,000 barrels of oil equivalent per day, up 19 percent from a year ago. (Reporting by Anna Driver, editing by G Crosse)