Profitability Remains for Some in Rough Times

摘要

Despite the two hurricanes that hit the Gulf in the quarter and the withering nature of the capital markets in the same time frame, some companies still reported increased earnings based on increased production. Devon Energy posted its highest quarterly net earnings ever. Earnings rose 256%, to $2.6 billion, in the quarter, from the $735 million earned in Q3 2007. The company based the increase on a 62% increase in oil, natural gas and natural gas liquids sales, to $3.8 billion.