The Oklahoman

Oklahoma City-based Devon Energy agrees to $6.15 million settlement


OKLAHOMA CITY – Oklahoma Citybased Devon Energy Corporatio­n has agreed to a $6.15 million settlement agreement with the federal government over allegation­s it underpaid royalties on federal leases, the U.S. Department of Justice announced Monday.

The settlement resolves allegation­s that Devon underpaid and underrepor­ted royalties from federal natural gas leases in Wyoming and New Mexico, the department said in a press release.

“The United States allows companies to remove gas from federal lands, which belong to all of us, in exchange for the payment of appropriat­e royalties,” Acting Assistant Attorney General Brian M. Boynton of the Justice Department’s Civil Division said in a statement. “This settlement demonstrat­es that the government will hold accountabl­e those who take improper advantage of public resources.”

Devon disputed the federal allegation­s and did not admit liability as part of the agreement.

A company spokeswoma­n did not immediatel­y respond to a message left by The Associated Press seeking comment about the settlement.

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