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Devon (DVN -6.2%) slides sharply after reporting a Q4 loss including an $896M writedown of...

Devon (DVN -6.2%) slides sharply after reporting a Q4 loss including an $896M writedown of devalued natural gas production assets. Q4 average daily oil production rose 13%, but overall daily output fell slightly as natural gas production slipped 5.9%. During the conference call, CEO John Richels said DVN may take another look at spinning off its pipeline and processing assets into an MLP.
Comments (2)
  • Did someone yell FIRE or something???Never seen more knne jerk reactions....
    20 Feb 2013, 03:17 PM Reply Like
  • People are very edgy about the stock market in general - as they should be because our economic recovery is a mirage. IMO
    20 Feb 2013, 04:14 PM Reply Like
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