"Devon Energy's Q4 Profit Declines Due to Winter Storm, Beats Estimates"
TL;DR Summary
Devon Energy reported a decrease in fourth-quarter profit due to lower oil and gas prices and projected a 2% production impact in the first quarter as a result of severe winter weather. The company's average realized price without hedges fell, and it reaffirmed its 2024 production forecast while expecting first-quarter production to be down 2%. Despite the challenges, Devon Energy raised its fixed quarterly dividend by 10%.
Topics:business#devon-energy#energy-industry#fourth-quarter-profit#oil-and-gas-prices#shale-production#winter-storm-impact
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