Devon Energy Closes Sale of Egyptian Operations |
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Devon Energy Corp.
20 N. Broadway
Oklahoma City, OK, 73102
USA
Press release date: October 8, 2007
OKLAHOMA CITY, Oct. 8 / -- Devon Energy Corporation (NYSE:DVN) announced today that it has completed the previously announced sale of its Egyptian oil and gas operations to Dana Petroleum plc. The sales price of $375 million included the purchase of $67 million of net working capital. Devon expects to incur no taxes on the transaction.
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/.
FCMN Contact: zack.hager@dvn.com
Source: Devon Energy Corporation
CONTACT: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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