SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event report): May 19, 1999
DEVON ENERGY CORPORATION
(Exact Name of Registrant as Specified in its Charter)
OKLAHOMA 1-10067 73-1474008
(State or Other Jurisdiction of (Commission File Number) (I.R.S. Employer
Incorporation or Organization) Identification
20 NORTH BROADWAY, SUITE 1500
OKLAHOMA CITY, OKLAHOMA 73102
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (405) 235-3611
Page 1 of 3 total pages
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Item 5. Other Events
On May 19, 1999, Mssrs. Luke Corbett, Tom McDaniel and Lawrence
Towell resigned from the Board of Directors of Devon Energy Corporation.
A copy of the press release concerning this event is filed herewith as an
exhibit.
Item 7. Financial Statements and Exhibits
(c) Exhibits
99 Press Release dated May 19, 1999
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of
1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereto duly authorized.
Devon Energy Corporation
By: /s/ Marian J. Moon
Marian J. Moon
Corporate Secretary
Date: May 19, 1999
<PAGE>
Exhibit 99
[Devon Energy Corporation Logo]
NEWS RELEASE
FOR IMMEDIATE RELEASE
Contact: Vince White
Director of Investor Relations
(405) 552-4505
Devon Energy Announces Director
Re-elections and Resignations
OKLAHOMA CITY, OKLAHOMA, May 19, 1999 -- Devon Energy Corporation
(AMEX: DVN, TSE: NSX) today announced the re-election of three of its
directors at its annual meeting of stockholders, held today in Oklahoma
City. Michael E. Gellert, Michael M. Kanovsky and H.R. Sanders, Jr. were
each elected for a three-year term expiring at the annual meeting in the
year 2002.
In an unrelated action, Luke R. Corbett, Tom J. McDaniel and Lawrence H.
Towell, all executives of Kerr-McGee Corporation, have resigned from
Devon's Board of Directors. Said J. Larry Nichols, President and CEO of
Devon, "We appreciate the input and professional expertise these
directors have provided over the last two years. In 1996, Kerr-McGee's
North American onshore assets were merged into Devon in a highly creative
and successful transaction. Kerr-McGee's willingness to take a bold step
helped create substantial value for Devon and Kerr-McGee shareholders
alike."
As a result of the 1996 transaction, Kerr-McGee holds approximately 9.95
million Devon common shares. These shares remain subject to the transfer
limitations as set forth in Devon's December 1996 "standstill agreement"
with Kerr-McGee.
Devon Energy Corporation is an independent energy company engaged in oil
and gas property acquisition, exploration and production. It is one of
the top 15 public independent oil and gas companies in the United States
and Canada, as measured by oil and gas reserves. Devon's Canadian
operations are conducted by its wholly owned subsidiary, Northstar Energy
Corporation. Devon's common shares trade on the American Stock Exchange
and The Toronto Stock Exchange under the symbols DVN and NSX,
respectively.
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