Devon sees slightly lower 2014 oil and gas spending

Wed Feb 19, 2014 12:11pm EST
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Feb 19 (Reuters) - Devon Energy Corp said on Wednesday it expects to spend $4.8 billion to $5.2 billion this year, down slightly from last year, with capital going to wells and projects that produce more profitable crude oil.

"We're not investing in gas properties or dry gas properties at this time," John Richels, Devon's Chief Executive Officer told investors on a conference call.