November 6, 2018 / 9:24 PM / 9 days ago

Devon Energy's quarterly profit surges

Nov 6 (Reuters) - Devon Energy Corp on Tuesday reported a jump in quarterly profit, as the oil producer gained from the sale of its stakes in pipeline operator EnLink Midstream.

The company’s net income attributable to shareholders rose to $2.5 billion, or $5.14 per share, in the third quarter ended Sept.30, from $193 million, or 37 cents per share, a year earlier.

In June, Devon Energy said it would sell its stakes in EnLink Midstream for $3.13 billion to pare debt and focus on its core shale business.

Total revenue rose to $2.58 billion from $1.93 billion. (Reporting by Laharee Chatterjee in Bengaluru; Editing by Maju Samuel)

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