This year has been a busy one for Devon Energy (NYSE: DVN) . That uptick in higher-margin NGLs, when combined with U.S. oil output at the mid-point of its forecast, should have enabled Devon to generate solid earnings and cash flow during the quarter even though it fell short in Canada. That would be a noteworthy accomplishment since several peers have boosted spending due to cost inflation and a decision to ramp up drilling activities thanks to higher oil prices .