May 1, 2018 / 8:51 PM / 19 days ago

BRIEF-Devon Energy Q1 Loss Per Share $0.38

Devon Energy Corp:

* DEVON ENERGY REPORTS FIRST-QUARTER 2018 RESULTS

* Q1 LOSS PER SHARE $0.38

* $1 BILLION SHARE-REPURCHASE PROGRAM UNDERWAY

* Q1 ADJUSTED CORE EARNINGS PER SHARE $0.20 EXCLUDING ITEMS

* Q1 EARNINGS PER SHARE VIEW $0.20 — THOMSON REUTERS I/B/E/S

* QTRLY TOTAL REVENUES AND OTHER $3,810 MILLION VERSUS $3,547 MILLION REPORTED LAST YEAR

* QTRLY OIL, GAS AND NGL SALES $1,360 MILLION VERSUS $1,309 MILLION REPORTED LAST YEAR

* RAISING FULL-YEAR 2018 OIL PRODUCTION OUTLOOK

* EXITED Q1 WITH $1.4 BILLION OF CASH ON HAND

* TARGETING ASSET DIVESTITURE PROCEEDS IN EXCESS OF $5 BILLION

* SEES Q2 TOTAL OIL EQUIVALENT PRODUCTION OF 524 MBOE/D - 549 MBOE/D

* SEES FY TOTAL OIL EQUIVALENT PRODUCTION OF 536 MBOE/D - 560 MBOE/D

* IN A SEPARATE TRANSACTION WITHIN BARNETT, FORMED A PARTNERSHIP WITH DOWDUPONT IN APRIL

* SEES FY DEVON CAPITAL EXPENDITURES $2,300 MILLION - $2,550 MILLION; EXCLUDES CAPITAL EXPENDITURES RELATED TO ENLINK

* QTRLY TOTAL OIL EQUIVALENT PRODUCTION NET OF ROYALTIES 544 MBOE/D

* DEVON ENERGY - WILL MONETIZE HALF ITS WORKING INTEREST ACROSS 116 GROSS UNDRILLED LOCATIONS FOR APPROXIMATE $75 MILLION PAYMENT FROM DOW SPREAD OVER 5 YRS

* WILL ALSO DRILL AND OPERATE UP TO 24 WELLS PER YEAR AS PER AGREEMENT WITH DOWDUPONT

* BOARD APPROVED A 33 PERCENT INCREASE TO ITS QUARTERLY COMMON STOCK DIVIDEND TO $0.08 PER SHARE

* Q1 REVENUE VIEW $3.89 BILLION — THOMSON REUTERS I/B/E/S Source text for Eikon: Further company coverage:

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