Devon Energy, the largest producer in the Barnett Shale, said it lost $719 million in the third quarter after taking a $1.1 billion impairment on assets, a common action among independent producers following the decade-low natural gas prices seen in the summer. After adjusting for that and other one-time items, the Oklahoma City-based company earned $355 million, or 88 cents a share. Financial analysts were expecting an adjusted 69 cents, but the company's shares were down about 8 percent Wednesday on a day when shares overall were weak, particularly energy stocks. Devon also booked $533 million in cash from its joint venture agreement with Sumitomo.
-- Jim Fuquay