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Company News

Devon Energy profit misses on weaker than forecast energy production

HOUSTON, Feb 20 (Reuters) - Oil and gas producer Devon Energy Corp on Tuesday reported quarterly results that fell short of analyst profit estimates on weaker than expected production.

The Oklahoma City-based company reported profit of 35 cents a share in the quarter ended Dec. 31, compared to analysts’ forecasts for 60 cents a share, according to Thomson Reuters data. Devon said its oil production missed its own forecasts during the period on delayed well tie-ins in the United States and steam-plant problems in its Canadian operations. (Reporting by Gary McWilliams; editing by Diane Craft)

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