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Business Description
Devon Energy Corporation, including its subsidiaries, is an energy company engaged primarily in oil and gas exploration, development and production and in the acquisition of producing properties, transportation of oil and gas and processing of natural gas. Devon owns oil and gas properties concentrated in five operating divisions: the Permian/Mid-Continent, Rocky Mountain and Gulf divisions, which include onshore properties in the continental United States and offshore properties primarily in the Gulf of Mexico; the Canadian division, which includes properties in the Western Canadian Sedimentary Basin in Alberta and British Columbia, and the International Division, which includes properties in Azerbaijan, South America, Southeast Asia and West Africa. Devon created a sixth division to incorporate its United States midstream activities with its marketing activities, as well as the construction and operation of pipelines, storage and treating facilities and gas processing plants.

Financial Information
DVN is an independent energy company engaged in oil and gas exploration, development and production and the acquisition of producing properties. For the six months ended 6/30/02, revenues rose 23% to $2.08 billion. Net loss from continuing operations before acct. change and applicable to Common totalled $151 million vs. an income of $462 million. Revenues reflect increased oil, gas and NGL production and higher marketing and midstream revenues. Loss reflects higher lease and depreciation costs.