Oklahoma City-based Devon booked a net loss of $4.5 billion (11.12 per share) on total revenue of $2.89 billion in the quarter ended 31 December compared to a net loss of $408 million ($1.01 per share) on revenue of $6 billion in the same period last year.

The figures include a non-cash asset impairment of $5.3 billion.

For the year in 2015, Devon booked a loss of $14.45