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Devon Energy announces board change OKLAHOMA CITY — Devon Energy Corp. announced that D. Martin Phillips, a managing partner of the EnCap Investments LP, will resign from the company’s board of directors effective immediately. The resignation is following a reduction in EnCap’s holdings in Devon through disposition transactions that occurred Feb. 22. 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 s outstanding common stock was maintained. Phillips joined Devon’s board of directors in January by way of the company’s merger with WPX Energy. Phillips became a member of WPX Energy’s board in 2020.

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