Devon Energy Corp. (DVN) has reported better-than-expected third-quarter 2021 earnings. The company has also increased its fixed-plus-variable dividend. The Oklahoma-based energy company posted adjusted earnings of $1.08 per share, which surpassed the Street's estimate of $0.93 per share. Devon had reported an adjusted loss of $0.04 per share in the same quarter last year. Total production stood at 608,000 oil-equivalent barrels (Boe) per day, up 86.5% year-over-year. The production also exceeded guidance by 5%. Delaware Basin production volume and better-than-expected base production performance across the portfolio drove the results. Delaware Basin production stood at 409,000 Boe per day, up 39% year-over-year. Devon reported revenues of $3.5 billion, compared to $1.
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Devon Energy (NYSE:DVN)
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