8-KOther Events

DEVON ENERGY CORP/DE 8-K Report (Apr 25, 2003)

Filed April 25, 2003For Securities:DVN

Summary

This 8-K filing from Devon Energy Corporation (DVN), filed on April 25, 2003, reports the successful completion of a significant strategic transaction: the merger of its subsidiary, Devon NewCo Corporation, with and into Ocean Energy, Inc. (Ocean). Ocean Energy, Inc. is now a subsidiary of Devon Energy Corporation, marking a pivotal moment in the company's expansion and growth strategy. The terms and conditions of this merger were previously detailed in the company's proxy statement and prospectus, with subsequent supplements providing further clarity. This acquisition is expected to have a material impact on Devon Energy's operational scale and financial profile. Investors should note that the filing incorporates by reference the audited financial statements of Ocean Energy for the years ending December 31, 2002, 2001, and 2000. Additionally, unaudited pro forma combined financial statements for Devon Energy are available, reflecting the combined entity. This transaction signifies a major step in Devon's corporate development, aimed at enhancing its market position and asset base.

Key Highlights

  • 1Devon Energy Corporation completed the merger of its subsidiary, Devon NewCo Corporation, with Ocean Energy, Inc. on April 25, 2003.
  • 2Ocean Energy, Inc. is now a subsidiary of Devon Energy Corporation.
  • 3The merger's terms were previously outlined in proxy statements and prospectuses dated March 20, 2003, and supplemented on April 2 and April 14, 2003.
  • 4Audited consolidated financial statements for Ocean Energy as of December 31, 2002 and 2001, and for the years ended December 31, 2002, 2001, and 2000 are incorporated by reference.
  • 5Unaudited pro forma combined financial statements for the merged Devon Energy Corporation are also incorporated by reference.
  • 6Key exhibits include the Agreement and Plan of Merger and a press release dated April 25, 2003.

Frequently Asked Questions

The main event is the completion of the merger between Devon Energy Corporation's subsidiary, Devon NewCo Corporation, and Ocean Energy, Inc., making Ocean Energy a subsidiary of Devon Energy.

Details about the merger are available in Devon Energy's proxy statement and prospectus dated March 20, 2003, as supplemented on April 2 and April 14, 2003. The Agreement and Plan of Merger is also filed as an exhibit.

The filing incorporates by reference the audited consolidated financial statements of Ocean Energy, Inc. for the years ending December 31, 2002, 2001, and 2000.

Yes, the filing incorporates by reference unaudited pro forma combined financial statements for Devon Energy Corporation, reflecting the impact of the merger.