Devon Energy Apparent Winner on 18 Blocks in Gulf of Mexico Lease Sale

Apr 02, 2001, 01:00 ET from Devon Energy Corporation

    OKLAHOMA CITY, April 2 /PRNewswire/ -- Devon Energy Corporation
 (Amex:   DVN; Toronto: NSX) reported today that it was the apparent high bidder
 on 18 blocks in Central Gulf of Mexico Lease Sale 178.  Devon and its partners
 submitted winning bids on 14 blocks on the shallow water shelf and four in
 deep water.  Devon's investment will be approximately $5.5 million assuming
 the Minerals Management Service accepts all of the bids.
     Following approval of the 18 new blocks, Devon will hold 373 lease blocks
 in the Gulf of Mexico.  Devon's lease blocks include 273 on the shelf and
 100 in deep water.  Of the 373 total blocks, 174 are producing blocks and
 199 are exploratory blocks.
     Devon Energy Corporation is an independent energy company engaged in oil
 and gas exploration, production and property acquisition.  Devon ranks among
 the top 5 U.S.-based independent oil and gas producers and is included in the
 S&P 500 Index.  Approximately 75 percent of the company's proved reserves are
 located in North America.  Also, Devon has significant international
 operations in Azerbaijan, Southeast Asia, South America and West Africa.
 Shares of Devon Energy Corporation trade on the American Stock Exchange under
 the symbol DVN.  Devon's exchangeable shares (resulting from Northstar,
 Devon's wholly-owned Canadian operating unit) trade on the Toronto Stock
 Exchange under the symbol NSX.
 
 

SOURCE Devon Energy Corporation
    OKLAHOMA CITY, April 2 /PRNewswire/ -- Devon Energy Corporation
 (Amex:   DVN; Toronto: NSX) reported today that it was the apparent high bidder
 on 18 blocks in Central Gulf of Mexico Lease Sale 178.  Devon and its partners
 submitted winning bids on 14 blocks on the shallow water shelf and four in
 deep water.  Devon's investment will be approximately $5.5 million assuming
 the Minerals Management Service accepts all of the bids.
     Following approval of the 18 new blocks, Devon will hold 373 lease blocks
 in the Gulf of Mexico.  Devon's lease blocks include 273 on the shelf and
 100 in deep water.  Of the 373 total blocks, 174 are producing blocks and
 199 are exploratory blocks.
     Devon Energy Corporation is an independent energy company engaged in oil
 and gas exploration, production and property acquisition.  Devon ranks among
 the top 5 U.S.-based independent oil and gas producers and is included in the
 S&P 500 Index.  Approximately 75 percent of the company's proved reserves are
 located in North America.  Also, Devon has significant international
 operations in Azerbaijan, Southeast Asia, South America and West Africa.
 Shares of Devon Energy Corporation trade on the American Stock Exchange under
 the symbol DVN.  Devon's exchangeable shares (resulting from Northstar,
 Devon's wholly-owned Canadian operating unit) trade on the Toronto Stock
 Exchange under the symbol NSX.
 
 SOURCE  Devon Energy Corporation