May 2, 2017 / 8:28 PM / 4 months ago

BRIEF-Devon Energy announces $1 billion divestiture plan

May 2 (Reuters) - Devon Energy Corp

* Devon Energy announces $1 billion divestiture plan

* Devon Energy Corp - Devon expects to commence divestiture program in Q2 of 2017

* Devon Energy Corp - Expects to complete sale process over next 12 to 18 months

* Devon Energy Corp - Company plans to deploy divestiture proceeds toward its U.S. resource plays

* Devon Energy Corp - Non-core divestiture plan is also expected to accelerate Devon's transition to higher-margin production

* Devon Energy Corp - Divestiture program among others places co firmly on track to achieve production growth targets in 2017 and 2018

* Devon Energy Corp - Intent to divest approximately $1 billion of upstream assets across its portfolio

* Devon energy corp - non-core assets identified for monetization include select portions of barnett shale focused primarily around Johnson County

* Devon Energy Corp - Non-core assets identified for monetization also include other properties located principally within company's U.S. resource base

* Devon Energy Corp - Company would evaluate strategic options for additional non-core asset sales Source text for Eikon: Further company coverage:

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