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): August 13, 1999
DEVON ENERGY CORPORATION
(Exact Name of Registrant as Specified in its Charter)
OKLAHOMA 1-10067 73-1474008
(State or Other Jurisdiction of (Commission (I.R.S.Employer
Incorporation or Organization) File Number) Identification Number)
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 2 total pages
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Item 5. Other Events
Devon Energy Corporation ("Devon") Severance Agreements.
Devon's executive officers have severance agreements that provide
for cash payments to such officers if their employment is
terminated or their duties diminished within two years of certain
transactions, including the pending merger of Devon and
PennzEnergy Company. Since all of the executive officers of
Devon are expected to remain in their respective capacities with
the merged company, Devon does not expect that payments will be
paid under these severance agreements. However, if payments were
to be made under the severance agreements, they would total
approximately $8.5 million.
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: August 13, 1999
