Oil and gas producer Devon Energy Corp beat quarterly production estimates on Tuesday on the strength of its U.S. shale assets and forecast a strong year ahead, sending its shares up 6 percent after the bell. The Oklahoma-based company also said its board had authorized sale of its assets in Canada and in the gas-rich Barnett shale patch in the United States, to turn Devon into a pure-play oil producer. “The New Devon will be able to grow oil volumes at a mid-teens rate while generating free cash flow at pricing above $46 per barrel,” Chief Executive Dave Hager said. On Tuesday, U.S. light crude futures were trading at $56.09 a barrel. Stifel Nicolaus and Co analyst Derrick Whitfield said investors have long […]