Devon Sees Output Rising Despite Capex Reduction

摘要

Devon Energy is sticking with its plans to grow production 20% to 25% this year, despite slashing its upstream capital budget by about 20% compared to last year. The Oklahoma City-based company said total capital spending on exploration and production would fall in a range of $4.1 billion to $4.4 billion in 2015, compared to spending of $5.36 billion in 2014.