OKLAHOMA CITY--(BUSINESS WIRE)--
Devon Energy Corp. (NYSE: DVN) announced today the closing of its
previously announced public offering of 69,000,000 shares of its common
stock and the full exercise of the underwriters’ option to purchase an
additional 10,350,000 shares. Net proceeds from the offering of $1.469
billion are expected to be used for general corporate purposes,
including bolstering the Company’s liquidity position, reducing
indebtedness and funding its capital program.
Goldman, Sachs & Co. acted as book-running manager for the offering.
Copies of the prospectus supplement and the accompanying base prospectus
related to the offering may be obtained for free by visiting EDGAR on
the Securities and Exchange Commission’s website at www.sec.gov.
Alternatively, copies of the prospectus and the 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 prospectus-ny@ny.email.gs.com.
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.
Forward-Looking Statements
This news release contains statements about future events and
expectations, or "forward-looking statements," all of which are
inherently uncertain. These forward-looking statements are based on
management's current expectations and assumptions and not on historical
facts. An example of these statements includes, but is not limited to,
the anticipated use of proceeds from the offering. These forward-looking
statements are subject to a number of risks and uncertainties that could
cause actual results to differ materially from those indicated in such
forward-looking statements, including prevailing market conditions and
other factors. For more information about potential risk factors that
could affect Devon and its results, we refer you to the information
contained in the prospectus and prospectus supplement for the offering
and the risk factors summarized in our Form 10-K for the year ended
December 31, 2015. Devon undertakes no obligation to update the
information contained in this press release to reflect subsequently
occurring events or circumstances.
This press release is neither an offer to sell nor a solicitation of an
offer to buy any securities, nor shall there be any sale of any such
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction. A registration statement relating to the securities has
been filed and became effective December 12, 2014.
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Source: Devon Energy Corporation