Devon Energy Announces Creation of Offshore Division

OKLAHOMA CITY, May 28, 2009 /PRNewswire-FirstCall via COMTEX/ -- Devon Energy Corporation (NYSE: DVN) announced today its plans to combine the company's International and Gulf Divisions into one offshore division. The integration will provide greater focus and efficiency to these areas of operations which have similar scope, technical requirements and strategy. The newly formed Offshore Division will remain in Houston.

"The decision to combine these two divisions will allow us to better pool our knowledge and resources in offshore exploration and development," said Dave Hager, executive vice president of exploration and production. "We continue to view our deepwater strategy as a means to enhance Devon's long-term growth opportunities."

Tony D. Vaughn has been named senior vice president and will lead the newly formed Offshore Division. Vaughn, 51, was previously senior vice president of Devon's Gulf Division. Prior to that, he served as the company's vice president for planning and evaluation. He holds Bachelor of Science degrees in Petroleum Engineering from the University of Tulsa and in Business Management from Oral Roberts University. He is a member of the Society of Petroleum Engineers.

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is the largest U.S.-based independent oil and gas producer and is included in the S&P 500 Index. For additional information, visit www.devonenergy.com.

SOURCE Devon Energy Corporation

http://www.devonenergy.com