Devon Energy Reports Impact of Third-Party Pipeline Damage in East Texas



    OKLAHOMA CITY, Feb. 13 /CNW/ -- Devon Energy Corporation (NYSE:   DVN)
today reported the impact to its oil and gas production due to an outage of
third-party owned natural gas processing facilities in east Texas. A
third-party natural gas pipeline near the Carthage Hub was damaged by an
explosion and fire that occurred on February 11, 2009.
    

    
    Contrary to previous reports, the gas processing plant facilities were
not damaged. For safety reasons, other pipelines leading into the area were
also temporarily shut in.
    

    
    Currently, approximately 80 million cubic feet of natural gas per day and
7,900 barrels per day of oil and natural gas liquids are curtailed as a result
of the outages. This represents about three percent of Devon's net
company-wide oil and gas production. Devon expects to restore the curtailed
volumes within two weeks.
    

    
    Devon Energy Corporation is an Oklahoma City-based independent energy
company engaged in oil and gas exploration and production. Devon is the
largest U.S.-based independent oil and gas producer and is included in the S&P
500 Index. For additional information, visit www.devonenergy.com.
    

    
    This press release includes "forward-looking statements" as defined by
the Securities and Exchange Commission. Such statements are those concerning
strategic plans, expectations and objectives for future operations. All
statements, other than statements of historical facts, included in this press
release that address activities, events or developments that the company
expects, believes or anticipates will or may occur in the future are
forward-looking statements. Such statements are subject to a number of
assumptions, risks and uncertainties, many of which are beyond the control of
the company. Investors are cautioned that any such statements are not
guarantees of future performance and that actual results or developments may
differ materially from those projected in the forward-looking statements. The
forward-looking statements in this press release are made as of the date of
this press release, even if subsequently made available by Devon on its
website or otherwise. Devon does not undertake any obligation to update the
forward-looking statements as a result of new information, future events or
otherwise.
    




    




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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