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Devon Energy Monetizes Interests in EnLink Midstream, Increases Share-Repurchase Program to $4 Billion

OKLAHOMA CITY--(BUSINESS WIRE)--Devon Energy Corp. (NYSE: DVN) announced today it has entered into an agreement to sell its aggregate ownership interests in EnLink Midstream Partners, LP (NYSE: ENLK) and EnLink Midstream, LLC (NYSE: ENLC) to an affiliate of Global Infrastructure Partners (GIP), a leading global, independent infrastructure fund manager for $3.125 billion. In conjunction with this sale agreement, Devon’s board of directors has increased the size of the company’s share-repurchase authorization to $4 billion.