Devon Energy Corp. and Canadian-based Northstar Energy Corp.completed their merger, which was announced June 29 (see NGI July6, 1998). Devon is issuing about 16.1 million common equivalentshares to the Northstar shareholders. In addition, Devon isassuming US$312 million in existing Northstar debt.

Northstar shareholders are receiving .235 exchangeable sharesfor each Northstar share. The shares are exchangeable at theholder’s option into Devon common stock on a one-for-one basis. Theexchangeable shares are tradable on the Toronto Stock Exchangeunder the symbol NSX.

With a total capitalization of US$1.9 billion, merged companyDevon Energy Corp. is one of the top 15 US-based independent oiland gas producers and is positioned to take advantage of growthopportunities both in the United States and in Canada. The companyis balanced with 54% of its proved reserves in the United Statesand 46% in Canada and has total proved reserves of about 300million Boe,

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