Devon Energy Provides Preliminary Report on Impact of Hurricanes in the Gulf of Mexico

    OKLAHOMA CITY, Sept. 17 /CNW/ -- Devon Energy Corporation (NYSE:   DVN)
announced today that it has restored a portion of its offshore oil and natural
gas production in the Gulf of Mexico following Hurricanes Gustav and Ike. The
company produces approximately 50,000 equivalent barrels of oil (Boe) per day
from wells located in the Gulf of Mexico. Devon's U.S. offshore production is
about 60 percent natural gas and represents roughly seven percent of the
company's worldwide oil and natural gas production. Devon had suspended all of
its production in the Gulf of Mexico as a precautionary measure prior to
Hurricane Gustav.
    "We are still in the process of evaluating the full extent of the impact
of the recent hurricanes, but we are pleased to report that all of our
employees are safe," said John Richels, Devon's president. "We safely
evacuated our offshore facilities and are now getting everyone back to work as
quickly as we can. I once again applaud the professionalism of our Gulf Coast
and Houston teams as they prepared for and responded to the storms."
    Currently, about 10,000 Boe per day of Devon's U.S. offshore production
has been restored. The company expects to bring additional volumes back on
line upon completion of damage assessments and any necessary repairs to
Devon-operated and third-party facilities and transportation systems.
    The hurricanes appear to have caused varying degrees of damage to several
of the company's producing platforms in the central Gulf of Mexico. Hurricane
Ike toppled two platforms in the Eugene Island area. The company's net
production from the two toppled platforms was approximately 1,200 Boe per day
prior to the storms.
    Additionally, Hurricane Ike forced certain pipelines, third-party gas
processing facilities and natural gas liquids fractionators in the Gulf Coast
region to suspend operations. As a result, approximately 50,000 Boe per day of
Devon's U.S. onshore production has also been curtailed. Repairs are now under
way and electrical power is being restored. Therefore, the curtailed onshore
volumes are expected to be brought back on line commencing over the next few
    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
    This press release includes "forward-looking statements" as defined by
the Securities and Exchange Commission. Such statements are those concerning
the 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. These statements are based on certain assumptions
made by the company based on its experience and perception of historical
trends, current conditions, expected future developments and other factors it
believes are appropriate in the circumstances. Such statements are subject to
a number of assumptions, risks and uncertainties, many of which are beyond the
control of the company.

For further information:

For further information: Investor Contact, Zack Hager, +1-405-552-4526,
or Media, Alesha Leemaster, +1-405-228-8413, both of Devon Energy Corporation
Web Site:

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