Devon Energy (DVN +1.2%) unveils plans to consolidate its U.S. exploration and production...

|About: Devon Energy Corporation (DVN)|By:, SA News Editor

Devon Energy (DVN +1.2%) unveils plans to consolidate its U.S. exploration and production operations group at its Oklahoma City headquarters, resulting in the closing of its Houston office. DVN is aiming to save ~$80M/year; it expects to post restructuring charges of ~$125M, including ~$100M in Q4.