OKLAHOMA CITY–(BUSINESS WIRE)–Devon Energy Corporation (NYSE: DVN) (“Devon” or the “Company”) announced today that it has priced an upsized public offering of 69,000,000 shares of its common stock at a price to the public of $18.75 per share. Net proceeds from the offering are expected to be used for general corporate purposes, including bolstering the Company’s liquidity position, reducing indebtedness and funding the Company’s capital program. The Company has also granted the underwriters an option to purchase up to an additional 10,350,000 shares of its common stock at the underwriters’ election. The offering is expected to close on February 22, 2016, subject to customary closing conditions.
Goldman, Sachs & Co. is acting as book-running manager for the offering. The offering will be made only by means of a preliminary prospectus supplement and the accompanying base prospectus, copies of which may be obtained for free by visiting EDGAR on the SEC website at www.sec.gov. Before you invest, you should read the prospectus, the preliminary prospectus supplement and other documents Devon has filed with the SEC for more complete information about the issuer and the offering. Alternatively, copies of the prospectus and the preliminary prospectus supplement relating to the offering may be obtained from Goldman, Sachs & Co., c/o Prospectus Department, 200 West Street, New York, NY 10282, by calling (866) 471-2526 or by email at firstname.lastname@example.org.
About Devon Energy Corporation
Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The Company is the second-largest oil producer among North American onshore independents. For more information, please visit www.devonenergy.com.