July 8 (Reuters) - Devon Energy Corp ( DVN ):

* DEVON ENERGY CORP ( DVN ) - TO ACQUIRE WILLISTON BASIN BUSINESS OF

GRAYSON MILL FOR $5 BILLION

* DEVON ENERGY ANNOUNCES STRATEGIC ACQUISITION IN THE

WILLISTON

BASIN AND EXPANDS SHARE-REPURCHASE AUTHORIZATION BY 67 PERCENT

TO $5 BILLION

* DEVON ENERGY CORP ( DVN ) - COMPANY PLANS TO FINANCE CASH PORTION

OF

PURCHASE PRICE THROUGH A COMBINATION OF CASH ON HAND AND DEBT

* DEVON ENERGY ( DVN ): DEAL IMMEDIATELY ACCRETIVE TO KEY PER-SHARE

FINANCIAL MEASURES

* DEVON ENERGY CORP ( DVN ) - ESTIMATES 375,000 BPD OIL PRODUCTION

POST-ACQUISITION

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