Devon Energy posts quarterly profit versus year-ago loss

Wed May 7, 2014 8:10am EDT

May 7 (Reuters) - Devon Energy Corp on Wednesday reported a quarterly profit compared with a year-earlier loss when it wrote down the value of some natural gas assets.

Devon had a first-quarter profit of $324 million, or 79 cents per share, compared with a loss of $1.3 billion, or $3.34 per share in the year-earlier period.

The Oklahoma City, Oklahoma, company said its oil and gas output rose to 690,900 barrels oil equivalent per day (boed), up from 686,900 boed in the 2013 first quarter.

(Reporting by Anna Driver)

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