Devon Energy Corp. (NYSE: DVN) reported a bigger-than-expected quarterly profit, as the U.S. oil producer benefited from its cost-cutting initiatives.Devon, like other oil and gas companies, has been keeping a tight leash on costs since a slide in global crude oil prices started in mid-2014.The company said Feb. 13 total operating expenses fell 67.4% to $2.71 billion in the fourth quarter ended Dec. 31.
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