Spending Cuts To Slow Devon's Canadian Activity

摘要

Despite booking its largest-ever loss in the fourth quarter, Devon Energy Corporation said the quarter and 2008 were among its most successful, operationally.The company also outlined plans to sharply cut this year's spending on exploration and development, which will total less than half last year's comparable budget (DOB, Feb. 4. 2009). Should commodity prices continue to weaken, other cuts may follow, company executives added in a conference call this week.