Devon Energy Corp Shrugs Off Hurricane Harvey to Post Impressive Q3 Results

Devon Energy (NYSE: DVN) alerted investors in mid-September that Hurricane Harvey had drenched the company's operations in the Eagle Ford Shale in south Texas. Because of that, production from the region would be about 15,000 barrels of oil equivalent per day (BOE/D) less than anticipated. That would have a meaningful impact on its oil output since crude represents about two-thirds this production.

That said, while the storm did cause oil production to come in below the low-end of Devon's initial guidance range, earnings still blew past analysts' expectations because the company had some of the best drilling results in its history.

Image source: Devon Energy.

Source: Fool.com