10-KPeriod: FY2002

DEVON ENERGY CORP/DE Annual Report, Year Ended Dec 31, 2002

Filed March 7, 2003For Securities:DVN

Summary

Devon Energy Corp./DE (DVN) filed its 2002 10-K on March 7, 2003, detailing its business operations, financial performance, and strategic positioning. The company primarily focuses on the exploration, development, and production of oil and natural gas properties. As of the filing date, DVN was actively engaged in domestic operations across various U.S. regions, including the Mid-Continent, Gulf Coast, and Rocky Mountains, with a significant portion of its production derived from natural gas assets. The report provides a comprehensive overview of the company's asset base, production volumes, and reserve quantities, which are crucial metrics for investors in the energy sector. Financial performance for the year ended December 31, 2002, as presented in the Selected Financial Data and Management's Discussion and Analysis, highlights the company's revenue generation and profitability. Investors should pay close attention to trends in oil and gas prices, production costs, and capital expenditures, as these factors significantly influence DVN's financial results and future growth prospects. The filing also outlines the company's financial condition, including its debt levels and liquidity, providing insights into its ability to fund its operations and growth initiatives. Risk factors, including commodity price volatility and regulatory changes, are also disclosed, offering a balanced view of the company's operational environment.

Key Highlights

  • 1Devon Energy is primarily engaged in the exploration, development, and production of oil and natural gas, with a significant domestic focus.
  • 2The company's operations span key U.S. regions including the Mid-Continent, Gulf Coast, and Rocky Mountains.
  • 3Natural gas represents a substantial portion of Devon's production, making it sensitive to natural gas market dynamics.
  • 4The report provides detailed information on production volumes, reserve quantities, and the company's asset base.
  • 5Financial performance for 2002, including revenues and profitability, is detailed, with a focus on key operational drivers.
  • 6Management's Discussion and Analysis (MD&A) offers insights into the company's financial condition, liquidity, and capital structure.
  • 7Key risk factors, such as commodity price volatility and regulatory environments, are disclosed, important for investor risk assessment.

Frequently Asked Questions

Devon Energy's primary business activities revolve around the exploration, development, and production of oil and natural gas properties. The company operates extensively within the United States, focusing on acquiring and developing reserves.

Devon Energy's main operational areas are primarily located within the United States, with significant assets and activities in regions such as the Mid-Continent, the Gulf Coast, and the Rocky Mountains.

Investors should monitor key financial metrics such as revenue, profitability, production costs, capital expenditures, debt levels, and liquidity. Understanding the company's reserve quantities and production volumes is also critical for assessing its operational scale and future potential.

The main risk factors mentioned for Devon Energy include the inherent volatility of oil and natural gas prices, which can significantly impact revenue and profitability. Regulatory changes affecting the energy industry and operational risks associated with exploration and production are also key concerns.