February 19, 2019 / 9:30 PM / in 3 months

Devon Energy beats production estimates in fourth quarter

Feb 19 (Reuters) - Oil and gas producer Devon Energy Corp reported a better-than-expected quarterly production on Tuesday, aided by more output from its U.S. shale assets.

The company reported production of 532,000 barrels of oil equivalent per day (boe/d) in the fourth quarter ended Dec. 31, while analysts had expected 527,060 boe/d, according to IBES data from Refinitiv.

Oklahoma-based Devon also said its board had authorized the sale of its assets in Canada and in the gas-rich Barnett shale patch in the United States, to become a pure-play oil producer. (Reporting by Debroop Roy in Bengaluru; Editing by Shinjini Ganguli)

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