Devon Energy Announces Cash Dividends for Common and Preferred Stockholders



    OKLAHOMA CITY, Dec. 3 /CNW/ -- Devon Energy Corporation (NYSE:   DVN) today
announced that its board of directors declared a quarterly cash dividend on
Devon's common stock for the fourth quarter of 2007. The dividend is payable
on December 28, 2007, at a rate of $0.14 per share based on a record date of
December 14, 2007.
    Devon also announced that its board of directors declared a quarterly
cash dividend on its 6.49 percent cumulative preferred stock, series A. The
dividend rate is $1.6225 per share and is payable on December 28, 2007. The
record date for the dividend is December 14, 2007.
    Devon Energy Corporation is an Oklahoma City-based independent energy
company engaged in oil and gas exploration and production. Devon is one of the
world's leading independent oil and gas producers and is included in the S&P
500 Index. For additional information, visit http://www.devonenergy.com.




For further information:

For further information: Investors, Zack Hager, +1-405-552-4526, or
Media,  Chip Minty, +1-405-228-8647, both of Devon Energy Corporation Web
Site: http://www.devonenergy.com

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DEVON ENERGY CORPORATION

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