Devon Energy Named to Fortune's '100 Best Companies to Work For' List

OKLAHOMA CITY, Jan. 22 /PRNewswire-FirstCall/ -- For the second year in a row, FORTUNE magazine ranked Devon Energy Corporation (NYSE: DVN) among its "100 Best Companies to Work For" today, distinguishing the Oklahoma City-based independent oil and gas producer as one of the nation's most desirable employers.

Devon is ranked 13th and is among the list's fastest-moving companies, gaining 35 spots from the previous year. Devon ranked the highest among energy companies. FORTUNE also distinguished Devon for its low turnover rate of four percent and its innovative 401(k) retirement plan, which calls for annual company contributions of up to 22 percent of an eligible employee's salary. The plan has been hailed as one of the best in the country and was featured in national publications such as Business Week and Financial Week.

"While making the FORTUNE list is wonderful recognition for the company, it says even more about our employees," said Devon's chairman and chief executive officer, Larry Nichols. "Their values and their commitment are what make Devon a great place to work. We have an outstanding company with many wonderful assets, but we believe our people are at the foundation of our strength."

The FORTUNE ranking is assembled annually by the San Francisco-based Great Place to Work Institute. Over the past decade, the FORTUNE list has become the definitive measure of workplace culture in the United States.

There also is a strong correlation between a high-quality work environment and business success. Companies included on the FORTUNE list attract a higher number of qualified job applicants, experience lower turnover rates, and are among Wall Street's top performers, according to the Great Place to Work Institute. Independent equities analysts have found that companies included on the list consistently outperform major stock indices, such as the S&P 500 and the Russell 3000, according to the Institute.

Devon's rank was based primarily on an employee survey conducted by the Great Place to Work Institute. The survey indicates employees trust and respect management and believe corporate leaders have a clear vision for the company's future. It also shows camaraderie, teamwork and a small-company atmosphere are prominent and that employees take pride in Devon's reputation. The rank was also based on Devon's corporate culture where employees feel challenged as professionals, have a strong sense of responsibility and can take ownership in the jobs they do.

The Great Place to Work Institute was founded in 1991 to offer services to help companies enhance workplace environments and promote an atmosphere of trust between employees and management. Striving to become a great place to work has been recognized by leaders in a variety of industries, government organizations and educational institutions as a prime means to improve workplace environments, corporate image and financial performance.

Devon is listed among FORTUNE'S Blue-Ribbon Companies for being included on at least four of the magazine's lists. In addition to being on the Best Companies to Work For list, Devon is ranked among the Fortune 500 as well as America's Most Admired Companies. It is also on the Global Most Admired Companies list.

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

CONTACT:
Investors, Zack Hager +1-405-552-4526
or Media, Chip Minty, +1-405-228-8647, both of Devon
Web Site: http://www.devonenergy.com