DEVON ENERGY CORP/DE Exhibit
EX-99.1 2 d702577dex991.htm EX-99.1 EX-99.1 Exhibit 99.1   NEWS RELEASE Devon Energy Announces Final Step to Complete Transformation to U.S. Oil Growth Company Highlights     •   Pursuing separation of its Canadian and Barnett Shale assets     •   Expect to complete separation by end of 2019     •   Share-repurchase authorization increased to $5 billion     •   Quarterly dividend increased 13 percent     •   Committed to at least $780 million in annual cost reductions OKLAHOMA CITY – Feb. 19,…
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About DEVON ENERGY CORPORATION (NYSE:DVN)

Devon Energy Corporation (Devon) is an independent energy company engaged in the exploration, development and production of oil, natural gas and natural gas liquids (NGLs). The Company’s operations are concentrated in various North American onshore areas in the United States and Canada. The Company also produces over 1.6 billion cubic feet of natural gas a day and approximately 135 thousand barrels of NGLs per day. The Company operates through three segments: U.S., Canada and EnLink. Devon’s U.S. and Canadian segments are engaged in oil and gas exploration and production activities. EnLink’s operations consist of midstream assets and operations located across the United States. Its projects include Delaware Basin, STACK, Eagle Ford, Rockies Oil, Heavy Oil, Barnett Shale, and other assets, which are located in the Midland Basin, east Texas, Granite Wash and Mississippian-Lime areas. In addition, the Company holds interest in Jackfish and Pike.