Document:

EX-4.1

 Exhibit 4.1 

Execution Version 

REGISTRATION RIGHTS AGREEMENT 

BY AND AMONG 
 DEVON
ENERGY CORPORATION 
 AND 

THE SELLERS NAMED HEREIN 

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of January 7, 2016 by and among Devon
Energy Corporation, a Delaware corporation (“Devon”), and the stockholders from time to time party to this Agreement. 

WHEREAS, this Agreement is made in connection with the acquisition of all of the issued and outstanding membership interests of Felix Energy
Holdings, LLC, a Delaware limited liability company (“Felix”), in exchange for cash and the issuance of Devon’s common stock (the “Purchased Common Stock”) to the Holders pursuant to the purchase and sale
agreement, as amended (the “Purchase Agreement”), dated as of December 6, 2015, by and among (i) Felix Energy Holdings, LLC, a limited liability company organized under the Laws of the State of Delaware (the
“Company”), (ii) EnCap FEx Holdings, LLC, a limited liability company organized under the Laws of the State of Delaware (“EF Holdings”), (iii) Felix Stack Investments, LLC, a limited liability company
organized under the Laws of the State of Delaware (“FS Investments” and, together with EF Holdings, “Sellers” and each a “Seller”), (iv) DEPCO Delaware, L.L.C., a limited liability company
organized under the Laws of the State of Delaware (“Purchaser”) and a wholly-owned subsidiary of Devon Energy Production Company, L.P., a limited partnership organized under the Laws of the State of Oklahoma (“Purchaser
Parent”), (v) Purchaser Parent, and, (vi) solely with respect to its obligations related to the Ultimate Parent Shares (as defined in the Purchase Agreement), Devon, and (vi) solely with respect to its obligations as
described in the third amendment to the Purchase Agreement, dated January 7, 2016, Felix STACK Holdings, LLC; 
 WHEREAS, Devon has
agreed to provide the registration and other rights set forth in this Agreement for the benefit of the Sellers pursuant to the Purchase Agreement; and 

WHEREAS, it is a condition to the obligations of each party to the Purchase Agreement that this Agreement be executed and delivered. 

NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt
and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS 

Section 1.01 Definitions. Capitalized terms used herein without definition shall have the meanings given to them in the Purchase
Agreement. The terms set forth below are used herein as so defined: 
 “Agreement” has the meaning specified therefor in
the introductory paragraph. 
 “Commission” means the Securities and Exchange Commission. 

“Devon” has the meaning specified therefor in the introductory paragraph. 

“Effectiveness Period” has the meaning specified therefor in Section 2.01(a). 

  
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 “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any
similar federal statute, and the rules and regulations promulgated by the Commission thereunder. 
 “Holder” means the
holder of any Registrable Securities. 
 “Losses” has the meaning specified therefor in Section 2.05(a). 

“Person” means any natural person, corporation, limited partnership, general partnership, limited liability company, joint
stock company, joint venture, association, company, estate, trust, bank trust company, land trust, business trust, or other organization, whether or not a legal entity, custodian, trustee-executor, administrator, nominee or entity in a
representative capacity and any government or agency or political subdivision thereof. 
 “Purchase Agreement” has the
meaning specified therefor in the Recitals of this Agreement. 
 “Purchased Common Stock” has the meaning specified
therefor in the Recitals of this Agreement. 
 “Registrable Securities” means the Purchased Common Stock until no longer
Registrable Securities pursuant to the provisions of Section 1.02. 
 “Registration Statement” has the meaning
specified therefor in Section 2.01(a) of this Agreement. 
 “Seller” and “Sellers” have the meanings
specified therefor in the introductory paragraph of this Agreement. 
 “Seller Affiliate” has the meaning specified
therefor in Section 2.05(b). 
 “Selling Holder” means a Holder who is selling Registrable Securities pursuant to a
Registration Statement. 
 “Underwritten Offering” means an offering (including an offering pursuant to a Registration
Statement) in which shares of common stock of Devon are sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with one or more investment banks. 

Section 1.02 Registrable Securities. Any Registrable Security will cease to be a Registrable Security when: (a) a
registration statement covering such Registrable Security has become effective and such Registrable Security has been sold or disposed of pursuant to such effective registration statement or (b) such Registrable Security can be (or have been)
disposed of (excluding transfers or assignments by a Holder to an Affiliate or to another Holder or any of its Affiliates) pursuant to Rule 144(b) (or any similar provision then in force) under the Securities Act. 

  
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 ARTICLE II 

REGISTRATION RIGHTS 

Section 2.01 Registration. Devon shall prepare, file (if not previously filed) and use commercially reasonable efforts to cause to
become effective within 45 days after the Closing Date a shelf registration statement and prospectus supplement under the Securities Act to permit the resale of the Registrable Securities from time to time, including as permitted by Rule 415 under
the Securities Act (or any similar provision then in force), under the Securities Act with respect to all of the Registrable Securities in accordance with the method or methods of disposition thereof (other than an Underwritten Offering) as may be
reasonably requested by the Selling Holders in writing prior to the filing of the Registration Statement or prospectus supplement, as applicable (the “Registration Statement”). A Registration Statement filed pursuant to this
Section 2.01 shall be on such appropriate registration form of the Commission as shall be selected by Devon; provided that such Registration Statement shall permit the resale of the Registrable Securities in accordance with the method or
methods of disposition thereof (other than an Underwritten Offering) as may be reasonably requested by the Selling Holders in writing prior to the filing of the Registration Statement. Devon will use its commercially reasonable efforts to cause the
Registration Statement filed pursuant to this Section 2.01 to remain continuously effective, including by filing any supplements or amendments thereto, under the Securities Act until the earlier of (i) the date as of which all such
Registrable Securities are sold by the Holders or cease to be Registrable Securities or (ii) three years from the initial effective date of such Registration Statement or prospectus supplement, if later (the “Effectiveness
Period”). The Registration Statement when it becomes effective (including the documents incorporated therein by reference) shall comply in all material respects as to form with all applicable requirements of the Securities Act and the
Exchange Act and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading 

Section 2.02 Sale Procedures. In connection with a Registration Statement prepared pursuant to Section 2.01, Devon shall:

 (a) if the Registration Statement is not automatically effective upon filing, use commercially reasonable efforts to cause such
Registration Statement to become effective as promptly as reasonably practicable; 
 (b) promptly as practicable respond to any and all
comments received from the Commission, with a view towards causing such Registration Statement or any amendment thereto to be declared effective by the Commission as soon as practicable and shall file an acceleration request, if necessary, as soon
as practicable following the resolution or clearance of all Commission comments or, if applicable, following notification by the Commission that any such Registration Statement or any amendment thereto will not be subject to review; 

(c) prepare and file with the Commission such amendments and supplements to the Registration Statement and the prospectus used in connection
therewith as may be necessary to keep the Registration Statement effective for the Effectiveness Period and as may be necessary to comply in all material respects with the provisions of the Securities Act with respect to the disposition of all the
Registrable Securities; 

  
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 (d) if applicable, use its commercially reasonable efforts to register or qualify the Registrable
Securities covered by the Registration Statement or any other registration statement contemplated by this Agreement under the securities or “blue sky” laws of such jurisdictions as the Selling Holders may reasonably request and do any and
all other acts and things that may be reasonably necessary or advisable to enable any Selling Holder to consummate the disposition of the Registrable Securities in such jurisdiction; provided, however, that Devon will not be required
to qualify generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action which would subject it to general service of process in any such jurisdiction where it is not then so subject; 

(e) furnish to each Selling Holder such numbers of copies of such Registration Statement, each amendment and supplement thereto, each
prospectus (including each preliminary prospectus and prospectus supplement) and such other documents as such Selling Holder may reasonably request in order to facilitate the disposition of the Registrable Securities; 

(f) promptly as practicable notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered by any of
them under the Securities Act, of (i) the filing of the Registration Statement or any prospectus or prospectus supplement to be used in connection therewith, or any amendment or supplement thereto, and, with respect to such Registration
Statement or any post-effective amendment thereto, when the same has become effective; and (ii) any written comments from the Commission with respect to any filing referred to in clause (i) and any written request by the Commission for
amendments or supplements to the Registration Statement or any prospectus or prospectus supplement thereto; 
 (g) promptly notify each
Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of (i) the happening of (but not the nature or details concerning) any event as a result of which the prospectus or prospectus
supplement contained in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances then existing; (ii) the issuance or threat of issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, or the initiation of any proceedings for that purpose; or
(iii) the receipt by Devon of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction. Following the provision of such
notice, Devon agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus supplement does not include an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing and to take such other action as is necessary to remove a stop order,
suspension, threat thereof or proceedings related thereto and shall, at the request of any Selling Holder promptly furnish to such Selling Holder a reasonable number of copies of a supplement to or an amendment of such prospectus, or a revised
prospectus, as may be necessary so that, as thereafter delivered to the purchasers of such securities, the prospectus or prospectus supplement does not include an untrue statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing; 

  
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 (h) otherwise use its commercially reasonable efforts to comply in all material respects with all
applicable rules and regulations of the Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities
Act and Rule 158 promulgated thereunder; 
 (i) cause all such Registrable Securities registered pursuant to this Agreement to be listed on
each securities exchange on which similar securities issued by Devon are then listed; 
 (j) use its commercially reasonable efforts to
cause the Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of Devon to enable the Selling Holders to consummate the disposition
of such Registrable Securities; and 
 (k) provide a transfer agent and registrar for all Registrable Securities covered by such
registration statement, in each case not later than the effective date of the Registration Statement. 
 Each Selling Holder, upon receipt
of notice from Devon of the happening of any event of the kind described in Section 2.02(g) of this Agreement, shall forthwith discontinue disposition of the Registrable Securities until such Selling Holder’s receipt of the copies of the
supplemented or amended prospectus contemplated by Section 2.02(g) of this Agreement or until it is advised in writing by Devon that the use of the prospectus may be resumed. 

Section 2.03 Cooperation by Holders. Devon shall promptly provide written notice to a Holder to the extent that, in the opinion of
counsel to Devon, information related to such Holder is reasonably required for the Registration Statement or prospectus supplement, as applicable, to comply with the Securities Act. Following 15 days after providing such notice, Devon shall have no
obligation to include in the Registration Statement Registrable Securities of a Holder who has failed to timely furnish such information. 

Section 2.04 Expenses. Devon shall not be responsible for legal fees incurred by Holders in connection with the exercise of such
Holders’ rights hereunder. Devon shall pay all Commission, securities exchange, listing, inclusion, compliance and filing fees, legal fees and expenses of its counsel, fees of its accountants and other advisors and its internal expenses in
connection with its performance of this Agreement, and each Selling Holder shall pay all selling expenses in connection with any sale of its Registrable Securities hereunder. 

Section 2.05 Indemnification. 

(a) By Selling Holders. Each Selling Holder agrees severally and not jointly to indemnify and hold harmless Devon, its
directors, officers, agents and representatives, and each Person, if any, who controls Devon within the meaning of the Securities Act or of the Exchange Act, and its directors, officers, agents and representatives, against any losses, claims,
damages, expenses or liabilities (including reasonable attorneys’ fees and expenses) (collectively, “Losses”) with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder
expressly for inclusion in the Registration 

  
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Statement or any preliminary prospectus or final prospectus included therein, or any amendment or supplement thereto; provided, however, that the liability of each Selling Holder
shall not be greater in amount than the dollar amount of the net proceeds received by such Selling Holder from the sale of the Registrable Securities giving rise to such indemnification. 

(b) By Devon. Devon agrees to indemnify and reimburse, to the fullest extent permitted by law, each Selling Holder, and each of
its employees, advisors, agents, representatives, partners, officers, and directors and each Person who controls such Selling Holder (within the meaning of the Securities Act or the Exchange Act) and any agent or investment advisor thereof
(collectively, the “Seller Affiliates”) (i) against any and all Losses based upon, arising out of, related to or resulting from any untrue or alleged untrue statement of a material fact contained in any Registration Statement
or prospectus or any amendment thereof or supplement thereto, or any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein not misleading, (ii) against any and all Losses to
the extent of the aggregate amount paid in settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or threatened, or of any claim whatsoever based upon, arising out of, related to or resulting from
any such untrue statement or omission or alleged untrue statement or omission, and (iii) against any and all costs and expenses (including reasonable fees and disbursements of counsel) as may be reasonably incurred in investigating, preparing
or defending against any litigation, investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or
alleged untrue statement or omission, or such violation of the Securities Act or Exchange Act, to the extent that any such expense or cost is not paid under clause (i) or (ii) above; except insofar as any such statements are made in
reliance upon information furnished to Devon in writing by such Selling Holder or any Seller Affiliate expressly for use therein. 
 (c) Any
Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided that the failure to give such notice shall not limit the
rights of such Person) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume
the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided, however, that any person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the
defense of such claim, but the fees and expenses of such counsel shall be at the expense of such person unless (A) the indemnifying party has agreed to pay such fees or expenses or (B) the indemnifying party shall have failed to assume the
defense of such claim and employ counsel reasonably satisfactory to such person. If such defense is not assumed by the indemnifying party as permitted hereunder, the indemnifying party will not be subject to any liability for any settlement made by
the indemnified party without its consent (but such consent will not be unreasonably withheld, conditioned or delayed). If such defense is assumed by the indemnifying party pursuant to the provisions hereof, such indemnifying party shall not settle
or otherwise compromise the applicable claim unless (i) such settlement or compromise contains a full and unconditional release of the indemnified party or (ii) the indemnified party otherwise consents in writing (which consent will not be
unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not 

  
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be obligated to pay the fees and expenses of more than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any
indemnified party, a conflict of interest may exist between such indemnified party and any other of such indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and
disbursements of such additional counsel or counsels. 
 (d) Contribution. If the indemnification provided for in this
Section 2.05 is held by a court or government agency of competent jurisdiction to be unavailable to any indemnified party or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of
indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and
of such indemnified party on the other in connection with the statements or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder
be required to contribute an aggregate amount in excess of the dollar amount of net proceeds received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification. The relative fault of the indemnifying party on
the one hand and the indemnified party on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made
by, or relates to, information supplied by such party, and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and
equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to herein. The amount paid by an indemnified
party as a result of the Losses referred to in the first sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss which is
the subject of this paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent
misrepresentation. 
 (e) Other Indemnification. The provisions of this Section 2.05 shall be in addition to any other
rights to indemnification or contribution which an indemnified party may have pursuant to law, equity, contract or otherwise. 

Section 2.06 Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations of the Commission
that may permit the sale of the Registrable Securities to the public without registration, Devon agrees to use its commercially reasonable efforts to: 

(a) make and keep public information regarding Devon available, as those terms are understood and defined in Rule 144 under the Securities
Act, at all times from and after the date hereof; and 

  
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 (b) file with the Commission in a timely manner all reports and other documents required of Devon
under the Securities Act and the Exchange Act at all times from and after the date hereof. 
 Section 2.07 Restricted Period.
Prior to the date 45 calendar days after the Closing Date, no Holder shall offer, sell, contract to sell, or otherwise dispose of, directly or indirectly, any Registrable Securities, enter into a transaction which would have the same effect, or
publicly disclose the intention to make any such offer, sale or disposition, in each case, without the prior written consent of Devon. 

ARTICLE III 

MISCELLANEOUS 

Section 3.01 Communications. All notices and other communications provided for or permitted hereunder shall be made in writing by
facsimile, electronic mail, courier service or personal delivery: 
 (a) if to Holder, at 1530 16th Street, Suite 500, Denver, Colorado
80202, or such other address set forth under that Holder’s signature block or provided by such Holder from time to time; and 
 (b) if
to Devon, at 333 West Sheridan Avenue, Oklahoma City, Oklahoma 73102. Attn: Treasurer, Jeff.Ritenour@dvn.com, facsimile (405) 228-7537 with a copy to Attn: General Counsel, Lyndon.Taylor@dvn.com, facsimile (405) 552-1400. 

All such notices and communications shall be deemed to have been received: at the time delivered by hand, if personally delivered; when
receipt acknowledged, if sent via facsimile or electronic mail; and when actually received, if sent by courier service or any other means. 

Section 3.02 Successor and Assigns. This Agreement shall inure to the benefit of and be binding upon the Holders and the
successors and assigns of each of the parties; provided, however, that any transfer shall not be effective for purposes of this Agreement until (A) the transferor shall furnish to Devon written notice of the name and address of such
transferee or assignee and the securities with respect to which such registration rights are being assigned and (B) such transferee shall agree to be subject to all restrictions set forth in this Agreement. Each Holder agrees that any
transferee of any Registrable Securities shall be bound by this Agreement whether or not such transferee expressly agrees to be bound. 

Section 3.03 Recapitalization, Exchanges, Etc. Affecting the Stock of Devon. The provisions of this Agreement shall apply to the
full extent set forth herein with respect to any and all stock of Devon or any successor or assign of Devon (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in exchange for or in substitution of, the
Registrable Securities, and shall be appropriately adjusted for combinations, stock splits, recapitalizations and the like occurring after the date of this Agreement. 

Section 3.04 Specific Performance. Damages in the event of breach of this Agreement by a party hereto may be difficult, if not
impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will 

  
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have the right to an injunction or other equitable relief in any court of competent jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each
of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to grant such an injunction or other equitable relief. The existence of this right will not preclude any such
Person from pursuing any other rights and remedies at law or in equity which such Person may have. 
 Section 3.05 Counterparts.
This Agreement may be executed in any number of counterparts and by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken
together, shall constitute the same Agreement. 
 Section 3.06 Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof. 
 Section 3.07 Governing Law. The Laws of the State
of Delaware shall govern this Agreement without regard to principles of conflict of Laws. 
 Section 3.08 Severability of
Provisions. Any provision of this Agreement which is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining
provisions hereof or affecting or impairing the validity or enforceability of such provision in any other jurisdiction. 
 Section 3.09
Entire Agreement. This Agreement is intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject
matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth or referred to herein with respect to the rights granted by Devon set forth herein. This Agreement and the Purchase Agreement
supersede all prior agreements and understandings between the parties with respect to such subject matter. 
 Section 3.10
Amendment. This Agreement may be amended only by means of a written amendment signed by Devon and the Holders of a majority of the then-outstanding Registrable Securities. 

Section 3.11 No Presumption. If any claim is made by a party relating to any conflict, omission or ambiguity in this Agreement, no
presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel. 

[The remainder of this page is intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	DEVON ENERGY CORPORATION
		
	By:	 	 /s/ David G. Harris

	Name:	 	David G. Harris
	Title:	 	Senior Vice President, Business Development

 [Signature Page to Registration Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	ENCAP FEX HOLDINGS, LLC
		
	By:	 	EnCap Energy Capital Fund IX, L.P., its sole member
	By:	 	EnCap Equity Fund IX GP, L.P., its general partner
	By:	 	EnCap Investments L.P.,its general partner
	By:	 	EnCap Investments GP, L.L.C.
its general partner
	
	
	By:	 	 /s/ D. Martin Phillips

	Name:	 	D. Martin Phillips
	Title:	 	Authorized Signatory
	
	FELIX STACK INVESTMENTS, LLC
		
	By:	 	 /s/ Skye A. Callantine

	Name:	 	Skye A. Callantine
	Title:	 	Manager
	
	FELIX STACK HOLDINGS, LLC
		
	By:	 	 /s/ Skye A. Callantine

	Name:	 	Skye A. Callantine
	Title:	 	Manager

 [Signature Page to Registration Rights Agreement]EX-4.2

 Exhibit 4.2 

Execution Version 

REGISTRATION RIGHTS AGREEMENT 

BY AND AMONG 
 DEVON
ENERGY CORPORATION 
 AND 

THE PARTIES NAMED HEREIN 

 REGISTRATION RIGHTS AGREEMENT 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of December 17, 2015 by and among
Devon Energy Corporation, a Delaware corporation (“Devon”), and the stockholders from time to time party to this Agreement. 

WHEREAS, this Agreement is made in connection with the acquisition of substantially all of the assets of the Sellers in exchange for cash and
the issuance of Devon’s common stock (the “Purchased Common Stock”) to the Holders pursuant to the purchase and sale agreement (the “Purchase Agreement”), dated as of November 13, 2015, by and among Devon,
Devon Energy Production Company, L.P., an Oklahoma limited partnership, and NewWoods Petroleum, LLC, a Delaware limited liability company, Renos Land & Minerals Company, an Oklahoma corporation, REMI Midstream, LLC, an Oklahoma limited
liability company, and Pine Tree Resources, LLC, a Delaware limited liability company (collectively, the “Sellers”); 

WHEREAS, Devon has agreed to provide the registration and other rights set forth in this Agreement for the benefit of the Sellers pursuant to
the Purchase Agreement; and 
 WHEREAS, it is a condition to the obligations of each party to the Purchase Agreement that this Agreement be
executed and delivered. 
 NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and for good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged by each party hereto, the parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.01 Definitions. Capitalized terms used herein without definition shall have the meanings given to them in the
Purchase Agreement. The terms set forth below are used herein as so defined: 
 “Agreement” has the meaning specified
therefor in the introductory paragraph. 
 “Commission” means the Securities and Exchange Commission. 

“Devon” has the meaning specified therefor in the introductory paragraph. 

“Effectiveness Period” has the meaning specified therefor in Section 2.01(a). 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, or any similar federal statute, and the rules and
regulations promulgated by the Commission thereunder. 
 “Holder” means the holder of any Registrable Securities. 

“Losses” has the meaning specified therefor in Section 2.05(a). 

  
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 “Person” means any natural person, corporation, limited partnership, general
partnership, limited liability company, joint stock company, joint venture, association, company, estate, trust, bank trust company, land trust, business trust, or other organization, whether or not a legal entity, custodian, trustee-executor,
administrator, nominee or entity in a representative capacity and any government or agency or political subdivision thereof. 

“Purchase Agreement” has the meaning specified therefor in the Recitals of this Agreement. 

“Purchased Common Stock” has the meaning specified therefor in the Recitals of this Agreement. 

“Registrable Securities” means the Purchased Common Stock until no longer Registrable Securities pursuant to the provisions
of Section 1.02. 
 “Registration Statement” has the meaning specified therefor in Section 2.01(a) of this
Agreement. 
 “Seller” and “Sellers” have the meanings specified therefor in the introductory paragraph of
this Agreement. 
 “Seller Affiliate” has the meaning specified therefor in Section 2.05(b). 

“Selling Holder” means a Holder who is selling Registrable Securities pursuant to a Registration Statement. 

“Underwritten Offering” means an offering (including an offering pursuant to a Registration Statement) in which shares of
common stock of Devon are sold to an underwriter on a firm commitment basis for reoffering to the public or an offering that is a “bought deal” with one or more investment banks. 

Section 1.02 Registrable Securities. Any Registrable Security will cease to be a Registrable Security when: (a) a
registration statement covering such Registrable Security has become effective and such Registrable Security has been sold or disposed of pursuant to such effective registration statement or (b) such Registrable Security can be (or have been)
disposed of pursuant to Rule 144(b) (or any similar provision then in force) under the Securities Act. 
 ARTICLE II 

REGISTRATION RIGHTS 

Section 2.01 Registration. Devon shall prepare, file (if not previously filed) and use commercially reasonable efforts to cause to
become effective within 90 days after the Closing Date a shelf registration statement and prospectus supplement under the Securities Act to permit the resale of the Registrable Securities from time to time, including as permitted by Rule 415 under
the Securities Act (or any similar provision then in force), under the Securities Act with respect to all of the Registrable Securities in accordance with the method or methods of disposition thereof (other than an Underwritten Offering) as may be
reasonably requested by the Selling Holders in writing prior to the filing of the Registration Statement or prospectus 

  
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supplement, as applicable (the “Registration Statement”). A Registration Statement filed pursuant to this Section 2.01 shall be on such appropriate registration form of the
Commission as shall be selected by Devon; provided that such Registration Statement shall permit the resale of the Registrable Securities in accordance with the method or methods of disposition thereof (other than an Underwritten Offering) as may be
specified by the Selling Holders. Devon will use its commercially reasonable efforts to cause the Registration Statement filed pursuant to this Section 2.01 to remain continuously effective, including by filing any supplements or amendments
thereto, under the Securities Act until the earlier of (i) the date as of which all such Registrable Securities are sold by the Holders or cease to be Registrable Securities or (ii) three years from the initial effective date of such
Registration Statement or prospectus supplement, if later (the “Effectiveness Period”). The Registration Statement when it becomes effective (including the documents incorporated therein by reference) shall comply in all material
respects as to form with all applicable requirements of the Securities Act and the Exchange Act and shall not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading. 
 Section 2.02 Sale Procedures. In connection with its obligations under this Article II,
Devon shall: 
 (a) if the Registration Statement is not automatically effective upon filing, use commercially reasonable efforts to cause
such Registration Statement to become effective as promptly as reasonably practicable; 
 (b) promptly as practicable respond to any and all
comments received from the Commission, with a view towards causing such Registration Statement or any amendment thereto to be declared effective by the Commission as soon as practicable and shall file an acceleration request, if necessary, as soon
as practicable following the resolution or clearance of all Commission comments or, if applicable, following notification by the Commission that any such Registration Statement or any amendment thereto will not be subject to review; 

(c) prepare and file with the Commission such amendments and supplements to the Registration Statement and the prospectus used in connection
therewith as may be necessary to keep the Registration Statement effective for the Effectiveness Period and as may be necessary to comply in all material respects with the provisions of the Securities Act with respect to the disposition of all the
Registrable Securities; 
 (d) if applicable, use its commercially reasonable efforts to register or qualify the Registrable Securities
covered by the Registration Statement or any other registration statement contemplated by this Agreement under the securities or “blue sky” laws of such jurisdictions as the Selling Holders may reasonably request and do any and all other
acts and things that may be reasonably necessary or advisable to enable any Selling Holder to consummate the disposition of the Registrable Securities in such jurisdiction; provided, however, that Devon will not be required to qualify
generally to transact business in any jurisdiction where it is not then required to so qualify or to take any action which would subject it to general service of process in any such jurisdiction where it is not then so subject; 

  
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 (e)(A) permit one legal counsel for a majority of the Registrable Securities to review and
comment on (i) the Registration Statement at least five (5) Business Days prior to its filing with the Commission and (ii) all amendments and supplements filed under the Securities Act to each Registration Statement which such
amendment or supplement explicitly (x) refers to the Selling Holders or the Registrable Securities or (y) modifies or removes any previously filed references to the Selling Holders or the Registrable Securities (including, without
limitation, the prospectus contained therein) (except for Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, and any similar or successor reports) within a reasonable number of days prior to their filing with
the Commission, and (B) not file the Registration Statement or any such amendment or supplement thereto in a form to which the legal counsel for a majority of the Registrable Securities reasonably objects; 

(f) furnish to each Selling Holder such numbers of copies of such Registration Statement, each amendment and supplement thereto, each
prospectus (including each preliminary prospectus and prospectus supplement) and such other documents as such Selling Holder may reasonably request in order to facilitate the disposition of the Registrable Securities; 

(g) promptly as practicable notify each Selling Holder, at any time when a prospectus relating thereto is required to be delivered by any of
them under the Securities Act, of (i) the filing of the Registration Statement or any prospectus or prospectus supplement to be used in connection therewith, or any amendment or supplement thereto, and, with respect to such Registration
Statement or any post-effective amendment thereto, when the same has become effective; and (ii) any written comments from the Commission with respect to any filing referred to in clause (i) and any written request by the Commission for
amendments or supplements to the Registration Statement or any prospectus or prospectus supplement thereto; 
 (h) promptly notify each
Selling Holder, at any time when a prospectus relating thereto is required to be delivered under the Securities Act, of (i) the happening of (but not the nature or details concerning) any event as a result of which the prospectus or prospectus
supplement contained in the Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances then existing; (ii) the issuance or threat of issuance by the Commission of any stop order suspending the effectiveness of the Registration Statement, or the initiation of any proceedings for that purpose; or
(iii) the receipt by Devon of any notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities or blue sky laws of any jurisdiction. Following the provision of such
notice, Devon agrees to as promptly as practicable amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus supplement does not include an untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing and to take such other action as is necessary to remove a stop order,
suspension, threat thereof or proceedings related thereto and shall, at the request of any Selling Holder promptly furnish to such Selling Holder a reasonable number of copies of a supplement to or an amendment of such prospectus, or a revised
prospectus, as may be necessary so that, as thereafter delivered to the purchasers of such securities, the prospectus or prospectus supplement does not 

  
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include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the
circumstances then existing; 
 (i) otherwise use its commercially reasonable efforts to comply in all material respects with all applicable
rules and regulations of the Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement, which earnings statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule
158 promulgated thereunder; 
 (j) cause all such Registrable Securities registered pursuant to this Agreement to be listed on each
securities exchange on which similar securities issued by Devon are then listed; 
 (k) use its commercially reasonable efforts to cause the
Registrable Securities to be registered with or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of Devon to enable the Selling Holders to consummate the disposition of such
Registrable Securities; and 
 (l) provide a transfer agent and registrar for all Registrable Securities covered by such registration
statement, in each case not later than the effective date of the Registration Statement. 
 Each Selling Holder, upon receipt of notice from
Devon of the happening of any event of the kind described in Section 2.02(h) of this Agreement, shall forthwith discontinue disposition of the Registrable Securities until such Selling Holder’s receipt of the copies of the supplemented or
amended prospectus contemplated by Section 2.02(h) of this Agreement or until it is advised in writing by Devon that the use of the prospectus may be resumed. 

Section 2.03 Cooperation by Holders. Devon shall promptly provide written notice to a Holder to the extent that, in the opinion of
counsel to Devon, information related to such Holder is reasonably required for the Registration Statement or prospectus supplement, as applicable, to comply with the Securities Act. Following 15 days after providing such notice, Devon shall have no
obligation to include in the Registration Statement Registrable Securities of a Holder who has failed to timely furnish such information. 

Section 2.04 Expenses. Devon shall not be responsible for legal fees incurred by Holders in connection with the exercise of such
Holders’ rights hereunder. Devon shall pay all Commission, securities exchange, listing, inclusion, compliance and filing fees, legal fees and expenses of its counsel, fees of its accountants and other advisors and its internal expenses in
connection with its performance of this Agreement, and each Selling Holder shall pay all selling expenses in connection with any sale of its Registrable Securities hereunder. 

Section 2.05 Indemnification. 

(a) By Selling Holders. Each Selling Holder agrees severally and not jointly to indemnify and hold harmless Devon, its
directors, officers, agents and representatives, and each Person, if any, who controls Devon within the meaning of the Securities Act or of the 

  
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Exchange Act, and its directors, officers, agents and representatives, against any losses, claims, damages, expenses or liabilities (including reasonable attorneys’ fees and expenses)
(collectively, “Losses”) with respect to information regarding such Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in the Registration Statement or any preliminary prospectus or
final prospectus included therein, or any amendment or supplement thereto; provided, however, that the liability of each Selling Holder shall not be greater in amount than the dollar amount of the net proceeds received by such Selling
Holder from the sale of the Registrable Securities giving rise to such indemnification. 
 (b) By Devon. Devon agrees to
indemnify and reimburse, to the fullest extent permitted by law, each Selling Holder, and each of its employees, advisors, agents, representatives, partners, officers, and directors and each Person who controls such Selling Holder (within the
meaning of the Securities Act or the Exchange Act) and any agent or investment advisor thereof (collectively, the “Seller Affiliates”) (i) against any and all Losses based upon, arising out of, related to or resulting from any
untrue or alleged untrue statement of a material fact contained in any Registration Statement or prospectus or any amendment thereof or supplement thereto, or any omission or alleged omission of a material fact required to be stated therein or
necessary to make the statements therein not misleading, (ii) against any and all Losses to the extent of the aggregate amount paid in settlement of any litigation or investigation or proceeding by any governmental agency or body, commenced or
threatened, or of any claim whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or alleged untrue statement or omission, and (iii) against any and all costs and expenses (including
reasonable fees and disbursements of counsel) as may be reasonably incurred in investigating, preparing or defending against any litigation, investigation or proceeding by any governmental agency or body, commenced or threatened, or any claim
whatsoever based upon, arising out of, related to or resulting from any such untrue statement or omission or alleged untrue statement or omission, or such violation of the Securities Act or Exchange Act, to the extent that any such expense or cost
is not paid under clause (i) or (ii) above; except insofar as any such statements are made in reliance upon information furnished to Devon in writing by such Selling Holder or any Seller Affiliate expressly for use therein. 

(c) Any Person entitled to indemnification hereunder will (i) give prompt written notice to the indemnifying party of any claim with
respect to which it seeks indemnification (provided that the failure to give such notice shall not limit the rights of such Person) and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest between such
indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided, however, that any
person entitled to indemnification hereunder shall have the right to employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such person unless (A) the
indemnifying party has agreed to pay such fees or expenses or (B) the indemnifying party shall have failed to assume the defense of such claim and employ counsel reasonably satisfactory to such person. If such defense is not assumed by the
indemnifying party as permitted hereunder, the indemnifying party will not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent will not be unreasonably withheld, conditioned or delayed).
If such defense is assumed by the indemnifying party pursuant to the provisions hereof, such indemnifying party shall not settle or otherwise 

  
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compromise the applicable claim unless (i) such settlement or compromise contains a full and unconditional release of the indemnified party or (ii) the indemnified party otherwise
consents in writing (which consent will not be unreasonably withheld, conditioned or delayed). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim will not be obligated to pay the fees and expenses of more
than one counsel for all parties indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party, a conflict of interest may exist between such indemnified party and any other of such
indemnified parties with respect to such claim, in which event the indemnifying party shall be obligated to pay the reasonable fees and disbursements of such additional counsel or counsels. 

(d) Contribution. If the indemnification provided for in this Section 2.05 is held by a court or government agency of
competent jurisdiction to be unavailable to any indemnified party or is insufficient to hold them harmless in respect of any Losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by such indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and of such indemnified party on the other in connection with the
statements or omissions which resulted in such Losses, as well as any other relevant equitable considerations; provided, however, that in no event shall such Selling Holder be required to contribute an aggregate amount in excess of the
dollar amount of net proceeds received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification. The relative fault of the indemnifying party on the one hand and the indemnified party on the other shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact has been made by, or relates to, information supplied by such party, and
the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just and equitable if contributions pursuant to this paragraph were
to be determined by pro rata allocation or by any other method of allocation which does not take account of the equitable considerations referred to herein. The amount paid by an indemnified party as a result of the Losses referred to in the first
sentence of this paragraph shall be deemed to include any legal and other expenses reasonably incurred by such indemnified party in connection with investigating or defending any Loss which is the subject of this paragraph. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation. 

(e) Other Indemnification. The provisions of this Section 2.05 shall be in addition to any other rights to indemnification
or contribution which an indemnified party may have pursuant to law, equity, contract or otherwise. 

  
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 Section 2.06 Rule 144 Reporting. With a view to making available the benefits of
certain rules and regulations of the Commission that may permit the sale of the Registrable Securities to the public without registration, Devon agrees to use its commercially reasonable efforts to: 

(a) make and keep public information regarding Devon available, as those terms are understood and defined in Rule 144 under the Securities
Act, at all times from and after the date hereof; and 
 (b) file with the Commission in a timely manner all reports and other documents
required of Devon under the Securities Act and the Exchange Act at all times from and after the date hereof. 
 Section 2.07
Restricted Period. Prior to the date 90 calendar days after the Closing Date, no Holder shall offer, sell, contract to sell, or otherwise dispose of, directly or indirectly, any Registrable Securities, enter into a transaction which
would have the same effect, or publicly disclose the intention to make any such offer, sale or disposition, in each case, the prior written consent of Devon; provided, however, that notwithstanding anything to the contrary set forth in
this Section 2.07, (i) a Holder may sell or transfer any Registrable Securities to any of its direct or indirect beneficial owners of its equity interests or to any of its affiliates, so long as such transferee agrees to be and remains
bound hereby, (ii) each Holder or transferee pursuant to clause (i) may enter into a bona fide pledge of any Registrable Securities (and any foreclosure on any such pledge shall also be permitted), (iii) any hedging transaction with
respect to an index or basket of securities where the equity securities of Devon constitute a de minimis amount shall not be prohibited pursuant to this Section 2.07, and (iv) if the provisions of this Section 2.07 are waived with
respect to any Holder or transferee pursuant to clause (i), then the provisions of this Section 2.07 shall be waived in addition with respect to each Holder or transferee pursuant to clause (i) that, together with its affiliates, holds at
least 8% of the aggregate Registrable Securities. 
 Section 2.08 Devon Obligations Regarding Transfers. In connection with a
sale of Registrable Securities by any Holder, including any sale pursuant to Rule 144 promulgated under the Securities Act or under an effective Registration Statement, Devon shall, to the extent allowed by law, take any commercially reasonable
action necessary or reasonably requested by such Holder in order to permit or facilitate such sale, including, without limitation, at the sole expense of Devon, by (i) issuing such directions to any transfer agent, registrar or depositary, as
applicable, (ii) delivering such opinions to the transfer agent, registrar or depositary as are reasonably requested by the same, and (iii) taking or causing to be taken such other actions as are reasonably necessary (in each case on a
timely basis) in order to cause any legends, notations or similar designations restricting transferability of the Registrable Securities held by such Holder to be removed and to rescind any transfer restrictions with Respect to such Registrable
Securities; provided, in connection with a sale or transfer by any Holder of Registrable Securities to any direct or indirect beneficial owner of such Holder’s equity interests or to any such Holder’s affiliates, such Holder may be
required to make or obtain instructions and opinions regarding its transferees, the applicable exemptions from registration claimed for such transfer, and such other matters as may be reasonably requested by Devon or the transfer agent. 

  
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 ARTICLE III 

MISCELLANEOUS 

Section 3.01 Communications. All notices and other communications provided for or permitted hereunder shall be made in writing by
facsimile, electronic mail, courier service or personal delivery: 
 (a) if to Holder, at 210 Park Avenue, Suite 900, Oklahoma City,
Oklahoma 73102, Attn: Jeffrey A. Bonney, jbonney@rkixp.com, facsimile (405) 949-2223, or such other address set forth under that Holder’s signature block or provided by such Holder from time to time; and 

(b) if to Devon, at 333 West Sheridan Avenue, Oklahoma City, Oklahoma 73102. Attn: Treasurer, Jeff.Ritenour@dvn.com, facsimile
(405) 228-7537 with a copy to Attn: General Counsel, Lyndon.Taylor@dvn.com, facsimile (405) 552-1400. 
 All such notices and
communications shall be deemed to have been received: at the time delivered by hand, if personally delivered; when receipt acknowledged, if sent via facsimile or electronic mail; and when actually received, if sent by courier service or any other
means. 
 Section 3.02 Successor, Assigns and Transfers. The registration rights of a Holder under this Agreement may be
transferred or assigned to any purchaser or transferee of Registrable Securities. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of each of the parties; provided, however, that any transfer shall
not be effective for purposes of this Agreement until (A) the transferor shall furnish to Devon written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being
assigned and (B) such transferee shall agree to be subject to all restrictions set forth in this Agreement. Each Holder agrees that any transferee of any Registrable Securities shall be bound by this Agreement whether or not such transferee
expressly agrees to be bound. 
 Section 3.03 Recapitalization, Exchanges, Etc. Affecting the Stock of Devon. The provisions of
this Agreement shall apply to the full extent set forth herein with respect to any and all stock of Devon or any successor or assign of Devon (whether by merger, consolidation, sale of assets or otherwise) which may be issued in respect of, in
exchange for or in substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, stock splits, recapitalizations and the like occurring after the date of this Agreement. 

Section 3.04 Specific Performance. Damages in the event of breach of this Agreement by a party hereto may be difficult, if not
impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without limiting any other remedy or right it may have, will have the right to an injunction or other equitable relief in any court of competent
jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court to
grant such an injunction or other equitable relief. The existence of this right will not preclude any such Person from pursuing any other rights and remedies at law or in equity which such Person may have. 

  
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 Section 3.05 Counterparts. This Agreement may be executed in any number of
counterparts and by different parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute the same Agreement.

 Section 3.06 Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise
affect the meaning hereof. 
 Section 3.07 Governing Law. The Laws of the State of Delaware shall govern this Agreement without
regard to principles of conflict of Laws. 
 Section 3.08 Severability of Provisions. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof or affecting or impairing the validity or
enforceability of such provision in any other jurisdiction. 
 Section 3.09 Entire Agreement. This Agreement is intended by the
parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein. There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein with respect to the rights granted by Devon set forth herein. This Agreement and the Purchase Agreement supersede all prior agreements and understandings between the
parties with respect to such subject matter. 
 Section 3.10 Amendment. This Agreement may be amended only by means of a written
amendment signed by Devon and the Holders of a majority of the then-outstanding Registrable Securities; provided, however, that no such amendment shall materially and adversely affect the rights of any Holder hereunder without the
consent of such Holder; provided, further, however, that so long as each of FR Rhino Holdings, LLC or ZAM Ventures, LP and its affiliates continues to own or be allocable from NewWoods Petroleum, LLC in the aggregate 20% or more of the Registrable
Securities to which it is allocable from NewWoods Petroleum, LLC at the closing of the transactions contemplated in the Purchase Agreement, any such amendment shall require the written consent of FR Rhino Holdings, LLC and/or ZAM Ventures, LP, as
applicable. 
 Section 3.11 No Presumption. If any claim is made by a party relating to any conflict, omission or ambiguity in
this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a particular party or its counsel. 

[The remainder of this page is intentionally left blank] 

  
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 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	DEVON ENERGY CORPORATION
		
	By:	 	 /s/ David G. Harris

	Name:	 	David G. Harris
	Title:	 	Senior Vice President Business Development

 [Signature Page to Registration Rights Agreement] 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

  

			
	NEWWOODS PETROLEUM, LLC
		
	By:	 	 /s/ Jeffrey A. Bonney

	Name:	 	Jeffrey A. Bonney
	Title:	 	Vice President and Chief Financial Officer

 [Signature Page to Registration Rights Agreement]

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