Devon Energy Corporation and WPX Energy Inc. announced the successful completion of their previously announced all-stock merger of equals. The combined company will operate under the name Devon Energy and be headquartered in Oklahoma City. Effective upon the consummation of the Merger, in accordance with the Merger Agreement and as approved by the Board, the Board consists of the following 12 members: (i) Kelt Kindick, Karl F. Kurz, Richard E. Muncrief, D. Martin Phillips and Valerie M. Williams, each a former member of the WPX board of directors who has been appointed to the Board (each, a “Legacy WPX Director”); and (ii) Barbara M. Baumann, John E. Bethancourt, Ann G. Fox, David A. Hager, John Krenicki Jr., Robert A. Mosbacher Jr. and Duane C. Radtke, each a continuing director. Effective upon the consummation of the Merger, the Board made the following Board committee appointments with respect to the Legacy WPX Directors: (i) Mr. Kindick will serve on the Audit and Governance committees; (ii) Mr. Kurz will serve on the Compensation and Reserves committees; (iii) Mr. Phillips will serve on the Compensation and Governance committees; and (iv) Ms. Williams will serve on the Audit and Reserves committees. Effective upon and in connection with the consummation of the Merger, each of the following directors of the Board tendered their resignations to the Company: Robert H. Henry, Michael M. Kanovsky, Keith O. Rattie and Mary P. Ricciardello. Effective upon the consummation of the Merger and in accordance with the Merger Agreement, the senior leadership team of the Company includes the following officers: David A. Hager as Executive Chair of the Company, Richard E. Muncrief as President of the Company, Clay M. Gaspar as Executive Vice President and Chief Operating Officer of the Company, David G. Harris as Executive Vice President and Chief Corporate Development Officer of the Company, Dennis C. Cameron as Executive Vice President and General Counsel of the Company (Mr. Cameron, together with Messrs. Muncrief and Gaspar, the “Legacy WPX Officers”), Jeffrey L. Ritenour as Executive Vice President and Chief Financial Officer of the Company and Tana K. Cashion as Senior Vice President, Human Resources and Administration.