Devon Energy Sees Higher US Output in Third Quarter

Shale producer Devon Energy (DVN) on Tuesday forecast higher U.S. production for the third quarter from a year earlier, helped by an increase in output of natural gas liquids.

Devon now expects output of about 418,000 barrels of oil-equivalent per day boe/d, up from 403,000 boe/d it reported, a year earlier.

The company said its capital spending fell to $523 million in the quarter, 9 percent below the company's midpoint forecast.

(Reporting by John Benny in Bengaluru; Editing by Arun Koyyur)