Devon Energy Subsidiary Files Registration Statement in Connection with Midstream MLP

Devon Energy Subsidiary Files Registration Statement in Connection with Midstream MLP

OKLAHOMA CITY--(BUSINESS WIRE)-- Devon Energy Corporation (NYS: DVN) announced today that its wholly owned subsidiary, Devon Midstream Partners, L.P., has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC). This filing relates to an initial public offering of common units in Devon Midstream Partners, L.P. representing limited partner interests. Application will be made to list the common units of Devon Midstream Partners, L.P. on the New York Stock Exchange under the symbol "DVNM."

BofA Merrill Lynch and Barclays are acting as joint book-running managers and structuring agents for the proposed offering. This offering of common units will be made only by means of a prospectus. When available, a preliminary prospectus relating to this offering may be obtained from:

BofA Merrill Lynch   Barclays Capital Inc.
Attn. Prospectus Departmentc/o Broadridge Financial Solutions
222 Broadway1155 Long Island Avenue
New York, NY 10038Edgewood, NY 11717

dg.prospectus_requests@baml.com

Barclaysprospectus@broadridge.com

1-888-603-5847

When available, a copy of the preliminary prospectus can be obtained free of charge by visiting the SEC's website at http://www.sec.gov under the registrant's name, "Devon Midstream Partners, L.P."

The registration statement relating to these securities has been filed with the SEC, but has not yet become effective. The registration statement is available on the SEC's website. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Devon Energy Corporation is an Oklahoma City-based independent energy company engaged in oil and gas exploration and production. Devon is a leading U.S.-based independent oil and gas producer and is included in the S&P 500 Index.

The statements in this news release are forward-looking statements that are subject to a number of risks and uncertainties including, among other things, the risks and uncertainties that the master limited partnership will not be formed, will not complete an offering of securities, will not raise the planned amount of capital even if an offering of securities is completed, and will not be able to complete its proposed actions on the timetable indicated. Furthermore, the structure, nature, purpose, and proposed assets and liabilities of the master limited partnership may change materially from those depicted herein. No assurance can be given as to the value of the master limited partnership, the price at which its securities may trade, or whether a liquid market for those securities will develop or be maintained. In addition, Devon and the master limited partnership will be subject to the risks normally attendant to businesses in the oil and gas exploration and midstream energy industries. These and other risks are described in Devon's 10-K and 10-Q Reports and other filings with the Securities and Exchange Commission. Any duty to update these statements is disclaimed except as required by law.



Devon Energy Corporation
Investor Contacts
Scott Coody, 405-552-4735
or
Shea Snyder, 405-552-4782
or
Media Contact
Chip Minty, 405-228-8647

KEYWORDS:   United States  North America  Oklahoma

INDUSTRY KEYWORDS:

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