Devon Energy Announces Senior Management Appointment and Retirement

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OKLAHOMA CITY, May 27, 2008 /PRNewswire-FirstCall via COMTEX News Network/ -- Devon Energy Corporation (NYSE: DVN) announced today that R. Alan Marcum, 41, has been appointed to the position of senior vice president, administration. Marcum will assume the role that will be vacated June 30, 2008, by Marian J. Moon, 58, who is retiring from the company.

"Alan has the experience and perspective to bring success to this senior position, just as he has done in his previous roles at Devon," said President, John Richels. "We are delighted to have found a candidate with Alan's qualifications right here at Devon."

Marcum joined Devon in 1995. He has served as the company's controller since 1999 and has been a vice president since 2006. Marcum has had primary responsibility for Devon's international and operations accounting. Prior to joining Devon, he was a senior auditor at KPMG. Marcum holds degrees in accounting and finance from East Central University and is a Certified Public Accountant.

Moon, who joined Devon in 1984, is retiring after a remarkable career, having made countless contributions to the company's growth and success. She served in a variety of managerial capacities, including manager of corporate finance and corporate secretary, before being appointed senior vice president, administration in 1999.

"I deeply appreciate Marian's years of service and her significant contributions to Devon," said Chairman and Chief Executive Officer, Larry Nichols. "We will miss her and wish her the very best."

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 http://www.devonenergy.com.

SOURCE Devon Energy Corporation