German energy companies in the second quarter net revenue growth of 43%, better than expected in the Barnett shale oil production from the Permian basin.
Its adjusted earnings and revenue easily beat Wall Street's expectations, the stock price rise in pre-market trading on Wednesday.
Oil and gas exploration company earned $683 million, or a 1. $68, ending June 30. In the second quarter of 2012, Devon, income is 477 million yuan, or a 1 $18.
In restructuring costs, reduced cost and other projects, adjusted earnings of $1.21 per share.
Analysts on average expected profit of 95 cents per share, according to FactSet
Shares rose $2, or 3.6%, at $57.80 in pre-market trading. The company's shares closed at $55.80, up 7% from a year earlier, since the beginning of the year.
Devon energy company, said on Wednesday that yield a total of 6.98 billion barrels of oil equivalent, on an average day. Beat the Oklahoma city, the company's future, by 80 million barrels a day, is the highest daily average house prices in Devon history, its performance in North America. The company said, several areas, including the Permian basin in Texas and new Mexico and Texas, as a consequence of robust performance of the Barnett shale.
The Permian basin have set a record, the average output of 76000 barrels of oil equivalent a day.
In the United States, the oil production rose 36% from a year earlier.
Revenue rose 21% to $3.09 billion from $2.56 billion last year. Wall Street's forecast for revenue of $2.74 billion.
From the oil, natural gas and natural gas liquids revenue climbed 37%, to $2.2 billion, increasing oil production and higher prices of oil and gas.
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