Okc-Based Devon Energy Posts 15-Percent Increase in 1q Profits

Summary

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Devon Energy is seeking a repeat performance of a record year, and if the first quarter of this season is any indication, it's on its way to an encore.

"Last year was the best in Devon history and our first quarter of this year was very successful," said Devon Chairman and Chief Executive Officer J. Larry Nichols. He pointed to robust commodity prices and increased production as Devon reported a 15-percent increase in first-quarter profit.

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Okc-Based Devon Energy Posts 15-Percent Increase in 1q Profits

Activity in Texas gave the company a strong boost.

"We had some significant milestones in the Barnett Shale, and in April (just after the quarterly earnings were filed...

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