BRIEF-Devon Energy closes Houston office, consolidates U.S. personnel


Oct 11 (Reuters) - Devon Energy Corp :

* Announces consolidation of U.S. e&p operations

* To consolidate its U.S. personnel into a single operations group

* Will close its office in Houston

* Completion of initiative is expected to be substantially complete by end of

first-quarter 2013.

* Reorganization charges are expected to approximate $125 million, with $100

million estimated to be incurred in Q4

* Remaining costs of reorganization charges will be incurred in the first half

of 2013

* Expects the announced changes to deliver savings of approximately $80 million


* Says in aggregate, roughly 20 percent of the total restructuring charges are


* Cost reductions to materialize through lower general,administrative

expenses,reduced capitalized personnel costs

* To transfer operational responsibilities for assets in south Texas, east

Texas and Louisiana to Oklahoma City

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