Devon Sees Spending Less Next Year to Maintain Shale Output

09/26/2023 01:34
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Devon Sees Spending Less Next Year to Maintain Shale Output

Devon Energy Corp. expects to spend less next year to sustain oil and natural gas output as record oilfield inflation begins to abate.

Devon Sees Spending Less Next Year to Maintain Shale Output

Devon Energy Corp. expects to spend less next year to sustain oil and natural gas output as record oilfield inflation begins to abate.

Costs for drilling rigs and steel used to line the inside of oil wells have come down recently, Chief Executive Officer Rick Muncrief said during an interview with Bloomberg Television on Monday. Still, tight labor-market conditions remain an impediment to growth.

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Devon Sees Spending Less Next Year to Maintain Shale Output

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