Devon Energy raises Q4 production view to 811,000-830,000 Boe per day

Due to the impact of the Grayson Mill acquisition and strong year-to-date performance, Devon is revising its production forecast higher in the fourth quarter to a range of 811,000 to 830,000 Boe per day, a 13 percent increase compared to the third quarter. This fourth-quarter volume growth will be driven by an estimated 110,000 Boe per day of incremental production from the company’s Williston Basin acquisition. Beginning with the fourth quarter, the Williston Basin will be combined with the Powder River Basin and reported as the Rockies business unit. The company also adjusted the midpoint of its capital outlook to $950M for the upcoming quarter. This guidance incorporates $150M of incremental capital requirements related to the acquisition in the Williston Basin