On the back of strong performance in the Permian Basin, Devon Energy Corp. reported higher natural gas and oil production during the second quarter, with efficiencies helping to hold the line on costs.

“The second quarter saw our business continue to strengthen and build momentum as we delivered systematic execution across the financial, operational and strategic tenets of our cash-return business model,” CEO Rick Muncrief said. 

The Permian Delaware sub-basin showcased the firm’s strategic success, he said, with output exceeding guidance expectations. The streamlined cost structure also “captured the full benefit of higher commodity prices…

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