Devon Energy Announces Closing of Public Common Stock Offering and Full Exercise of Option to Purchase Additional Shares
23 February 2016 - 8:15AM
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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version on businesswire.com: http://www.businesswire.com/news/home/20160222006505/en/
Devon Energy CorporationInvestor ContactsHoward Thill,
405-552-3693Scott Coody, 405-552-4735Chris Carr,
405-228-2496Media ContactJohn Porretto, 405-228-7506
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