Devon Energy, Alberta Wildfires: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

EARNINGS REPORTS
Devon Energy Boosts Earnings - Shale oil producer Devon Energy Corporation (NYSE:DVN) reported first-quarter 2023 net income of $995 million, compared with $989 million in the first quarter of 2022. The company's production averaged 641,000 barrels of oil equivalent per day (boe/d), in the reported quarter, higher than last year's 575,000 boe/d. (Reuters)

PRODUCTION
Alberta's Wildfires Force Oil Production Shutdown - Alberta declared a state of emergency on Saturday in response to wildfires that have displaced nearly 30,000 people and prompted energy producers to shut in at least 185,000 boe/d, about 2% of Canada's output. More than 100 wildfires are still active, with more than 30 classified as out-of-control. (Reuters)

NATURAL GAS
U.S. Natural Gas Rises Nearly 5% - U.S. natural gas futures gained nearly 5% to a one-week high on Monday on small declines in U.S. daily output and a drop in gas exports from Canada as wildfires shut in some oil and associated gas production. Front-month gas futures for June delivery on the New York Mercantile Exchange rose 10.1 cents, or 4.7%, to settle at $2.238 per million British thermal units, their highest close since May 1. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).