{"id":452005,"date":"2021-03-05T16:08:08","date_gmt":"2021-03-05T21:08:08","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=452005"},"modified":"2021-03-05T16:08:08","modified_gmt":"2021-03-05T21:08:08","slug":"devon-energy-announces-board-change","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-announces-board-change\/","title":{"rendered":"Devon Energy Announces Board Change"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"left\">OKLAHOMA CITY, March  05, 2021  (GLOBE NEWSWIRE) &#8212; Devon Energy Corp. (NYSE: DVN) announced today that D. Martin Phillips, a managing partner of the EnCap Investments, L.P. (EnCap), will resign from the company\u2019s board of directors effective immediately. The resignation is following a reduction in EnCap\u2019s holdings in Devon through disposition transactions that occurred on Feb. 22, 2021.<\/p>\n<p>The resignation is consistent with the provisions of a shareholder agreement that permitted EnCap to designate a director if a 10 percent ownership threshold of Devon&#8217;s outstanding common stock was maintained.<\/p>\n<p>\u201cMy tenure on the Devon and legacy WPX board has been a great experience and I am proud to have played a role in the development of both companies,\u201d commented Mr. Phillips. \u201cI hold Devon\u2019s board of directors and management team in the highest regard, I am confident in the company\u2019s strategic plan and I look forward to continuing my relationship with Devon as a shareholder.\u201d<\/p>\n<p>\u201cMarty has been a key member of our board and we are deeply grateful for the valuable insight and keen business acumen he has contributed to optimize our strategy and decision-making,\u201d said Rick Muncrief, president and CEO. \u201cOn behalf of the full board, I would like to thank Marty for his dedicated service to Devon and wish him success in his future endeavors.\u201d<\/p>\n<p>Mr. Phillips joined Devon\u2019s board of directors in January 2021 by way of the company\u2019s merger with WPX Energy. Mr. Phillips became a member of WPX Energy\u2019s board in 2020. Following his departure, Devon will have 11 directors on the board, possessing extensive experience leading public and private companies, with diversified skill sets cultivated across a broad set of industries.<\/p>\n<p>\n        <strong>ABOUT DEVON ENERGY<\/strong><br \/>\n        <br \/>Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon\u2019s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=ALTMDv37nZspj589BK8bIiwA5jhK29TbuDbGD7ZNe4wCsD2lJqTLU4rljlNn1ctXE5kd_Jf58_9aDJ8FJMMDK6VNozcd6DaGpmEWqbwFbGA=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.devonenergy.com<\/a>.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:35%;width:35%;min-width:35%;vertical-align: top\">\n            <strong>Investor Contacts<\/strong>\n          <\/td>\n<td style=\"max-width:65%;width:65%;min-width:65%;vertical-align: top\">\n            <strong>Media Contact<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Scott Coody, 405-552-4735<\/td>\n<td style=\"vertical-align: top\">Lisa Adams, 405-228-1732<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">Chris Carr, 405-228-2496<\/td>\n<td style=\"vertical-align: top\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NTM2NSM0MDUwODkzIzIwMDQ1NDQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/31664060-63e3-4af7-aaee-79afae3bc215\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>OKLAHOMA CITY, March 05, 2021 (GLOBE NEWSWIRE) &#8212; Devon Energy Corp. (NYSE: DVN) announced today that D. Martin Phillips, a managing partner of the EnCap Investments, L.P. (EnCap), will resign from the company\u2019s board of directors effective immediately. The resignation is following a reduction in EnCap\u2019s holdings in Devon through disposition transactions that occurred on Feb. 22, 2021. The resignation is consistent with the provisions of a shareholder agreement that permitted EnCap to designate a director if a 10 percent ownership threshold of Devon&#8217;s outstanding common stock was maintained. \u201cMy tenure on the Devon and legacy WPX board has been a great experience and I am proud to have played a role in the development of both companies,\u201d commented Mr. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-announces-board-change\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Devon Energy Announces Board Change&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452005","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Devon Energy Announces Board Change - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-announces-board-change\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Devon Energy Announces Board Change - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"OKLAHOMA CITY, March 05, 2021 (GLOBE NEWSWIRE) &#8212; Devon Energy Corp. (NYSE: DVN) announced today that D. Martin Phillips, a managing partner of the EnCap Investments, L.P. (EnCap), will resign from the company\u2019s board of directors effective immediately. The resignation is following a reduction in EnCap\u2019s holdings in Devon through disposition transactions that occurred on Feb. 22, 2021. The resignation is consistent with the provisions of a shareholder agreement that permitted EnCap to designate a director if a 10 percent ownership threshold of Devon&#8217;s outstanding common stock was maintained. \u201cMy tenure on the Devon and legacy WPX board has been a great experience and I am proud to have played a role in the development of both companies,\u201d commented Mr. &hellip; Continue reading &quot;Devon Energy Announces Board Change&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/devon-energy-announces-board-change\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-05T21:08:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NTM2NSM0MDUwODkzIzIwMDQ1NDQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-announces-board-change\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-announces-board-change\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Devon Energy Announces Board Change\",\"datePublished\":\"2021-03-05T21:08:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-announces-board-change\\\/\"},\"wordCount\":366,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-announces-board-change\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODE4NTM2NSM0MDUwODkzIzIwMDQ1NDQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-announces-board-change\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/devon-energy-announces-board-change\\\/\",\"name\":\"Devon Energy Announces Board Change - 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