Davis Polk advised the lead dealer managers and the co-dealer managers in connection with a cash tender offer by Devon Energy Corporation (“Devon Energy”) for any and all of its 8.250% notes due 2018 and its 6.300% notes due 2019 (the “Any and All Tender Offer”) and a waterfall cash tender offer for approximately $1.24 billion (less the aggregate total consideration for the Any and All Tender Offer) aggregate principal amount of eight series of its outstanding notes.

Devon Energy is a leading independent energy company engaged in finding and producing oil and natural gas. Based in Oklahoma City, Oklahoma, and included in the S&P 500, Devon operates in several of the most prolific oil and natural gas plays in the U.S. and Canada with an emphasis on a balanced portfolio. The company is the second-largest oil producer among North American onshore independents.

The Davis Polk corporate team included partners Richard A. Drucker and Byron B. Rooney and associates Paul J. Connell and Nathan R. Schuur. Partner Lucy W. Farr and associate Ariel David Siman provided tax advice. All members of the Davis Polk team are based in the New York office.

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