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Oil and Gas

Devon Energy further cuts 2020 capital spending by $300 mln

March 30 (Reuters) - Oil and gas producer Devon Energy on Monday said it is further reducing its capital expenditure by $300 million to nearly $1 billion for 2020, citing weak oil prices.

Earlier this month, Devon cut spending by $500 million to about $1.3 billion from its prior forecast for 2020, joining its shale peers as the industry battles a slump in crude prices.

Reporting by Shradha Singh in Bengaluru; Editing by Devika Syamnath

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