<?xml version="1.0"?>
<ownershipDocument>
    <schemaVersion>X0101</schemaVersion>

<documentType>4/A</documentType>
<periodOfReport>2003-05-12</periodOfReport>
<dateOfOriginalSubmission>2003-01-02</dateOfOriginalSubmission>
<notSubjectToSection16>0</notSubjectToSection16>
<issuer><issuerCik>0000320321</issuerCik>
        <issuerName>DEVON OEI OPERATING INC</issuerName>
<issuerTradingSymbol>OEI</issuerTradingSymbol>
</issuer>
<reportingOwner>
<reportingOwnerId>
<rptOwnerCik>0001185909</rptOwnerCik>
            <rptOwnerName>HACKETT JAMES T</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>  </rptOwnerStreet1>
            <rptOwnerStreet2>  </rptOwnerStreet2>
            <rptOwnerCity>  </rptOwnerCity>
            <rptOwnerState>  </rptOwnerState>
            <rptOwnerZipCode>  </rptOwnerZipCode>
        </reportingOwnerAddress>
<reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>1</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle>Ch. of the Board, Pres. &amp; CEO</officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeSecurity>
<securityTitle>
<value>Common</value>
</securityTitle>
<transactionDate>
<value>2003-01-02</value>
</transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>0</value>
</transactionShares>
<transactionValue>
<value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>618991</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value></value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<nonDerivativeSecurity>
<securityTitle>
<value>Common</value>
</securityTitle>
<transactionDate>
<value>2003-01-02</value>
</transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>F</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>0</value>
</transactionShares>
<transactionValue>
<value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode>
<value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>595493</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value></value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<nonDerivativeSecurity>
<securityTitle>
<value>Common</value>
</securityTitle>
<transactionDate>
<value>2003-01-03</value>
</transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>F</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>0</value>
</transactionShares>
<transactionValue>
<value>0</value>
</transactionValue>
<transactionAcquiredDisposedCode>
<value>D</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>589130</value>
<footnoteId id="F1"/>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
<footnoteId id="F2"/>
</directOrIndirectOwnership>
<natureOfOwnership>
<value></value>
</natureOfOwnership>
</ownershipNature>
</nonDerivativeSecurity>
<derivativeSecurity>
<securityTitle>
<value>Stiock Option (Right to Buy) OEI 2001 LTIP NQ</value>
</securityTitle>
<conversionOrExercisePrice>
<value>20.30</value>
</conversionOrExercisePrice>
<transactionDate>
<value>2003-01-02</value>
</transactionDate>
<transactionCoding>
<transactionFormType>4</transactionFormType>
<transactionCode>A</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionTimeliness>
<value></value>
</transactionTimeliness>
<transactionAmounts>
<transactionShares>
<value>201500</value>
</transactionShares>
<transactionValue>
<value>20.30</value>
</transactionValue>
<transactionAcquiredDisposedCode>
<value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<exerciseDate>
<value>2004-01-02</value>
<footnoteId id="F3"/>
</exerciseDate>
<expirationDate>
<value>2013-01-02</value>
</expirationDate>
<underlyingSecurity>
<underlyingSecurityTitle>
<value>Common</value>
</underlyingSecurityTitle>
<underlyingSecurityShares>
<value>201500</value>
</underlyingSecurityShares>
</underlyingSecurity>
<postTransactionAmounts>
<sharesOwnedFollowingTransaction>
<value>201500</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature>
<directOrIndirectOwnership>
<value>D</value>
</directOrIndirectOwnership>
<natureOfOwnership>
<value></value>
</natureOfOwnership>
</ownershipNature>
</derivativeSecurity>
<footnotes>
<footnote id="F1">Includes 1,302 shares acquired during 2002 as a participant in the OEI Employee Stock Purchase Plan.</footnote>
<footnote id="F2">In addition to those shares owned directly by Reporting Person, are 718 shares owned indirectly held in the Ocean Retirement Savings Plan and 94,387 shares owned indirectly held in the OEI Supplemental Benefit Plan, all as of December 31, 2002.</footnote>
<footnote id="F3">Options vest one-third upon each anniversary of option grant.</footnote>
</footnotes>
<ownerSignature>
<signatureName>Robert K. Reeves, Attorney-in-fact for James T. Hackett</signatureName>
<signatureDate>2003-05-12</signatureDate>
</ownerSignature>
</ownershipDocument>

