10-QPeriod: Q2 FY2005

DEVON ENERGY CORP/DE Quarterly Report for Q2 Ended Jun 30, 2005

Filed August 4, 2005For Securities:DVN

Summary

Devon Energy Corporation (DVN) filed its Form 10-Q for the quarterly period ended June 30, 2005. The report provides a snapshot of the company's financial performance and condition for the second quarter of 2005, alongside comparative data for the same period in 2004. Investors should note that the filing indicates Devon Energy is an accelerated filer, signifying a certain level of financial maturity and reporting compliance. Key financial statements, including consolidated balance sheets, statements of operations, statements of stockholders' equity and comprehensive income, and statements of cash flows, are presented on an unaudited basis for the periods in question. Management's Discussion and Analysis (MD&A) offers insights into the company's financial condition and operational results, which are critical for understanding the underlying business drivers and outlook. Additionally, disclosures regarding market risk and internal controls are provided, offering a more comprehensive view of the company's operational environment and risk management practices.

Key Highlights

  • 1The report covers the quarterly period ended June 30, 2005, providing investors with recent financial performance data.
  • 2Devon Energy Corporation is confirmed to be an accelerated filer, indicating significant market capitalization and reporting history.
  • 3Unaudited Consolidated Financial Statements are presented, including Balance Sheets, Statements of Operations, Stockholders' Equity, and Cash Flows.
  • 4The filing includes Management's Discussion and Analysis (MD&A) of Financial Condition and Results of Operations, offering management's perspective on performance.
  • 5Quantitative and Qualitative Disclosures About Market Risk are included, providing insights into how DVN manages exposure to market fluctuations.
  • 6Information on Controls and Procedures is detailed, addressing the effectiveness of the company's internal controls.
  • 7The report details the number of outstanding common shares as of June 30, 2005, which was 453,218,000.

Frequently Asked Questions

This Form 10-Q provides the U.S. Securities and Exchange Commission (SEC) and investors with a quarterly update on Devon Energy Corporation's financial performance, financial condition, and significant operational developments for the period ended June 30, 2005. It includes unaudited financial statements and management's analysis of the results.

Being an accelerated filer means that Devon Energy meets certain criteria set by the SEC, typically related to a minimum public float (market value of shares held by non-affiliates). Accelerated filers are required to file their periodic reports (like this 10-Q) more promptly than non-accelerated filers and must comply with certain internal control reporting requirements.

The detailed financial performance for the quarter ended June 30, 2005, and comparative periods can be found in the 'Consolidated Statements of Operations' on page 7 of the filing. The 'Management's Discussion and Analysis of Financial Condition and Results of Operations' on page 24 provides management's narrative explanation of these results.

Yes, the company's debt and cash position, along with other assets and liabilities, are detailed in the 'Consolidated Balance Sheets as of June 30, 2005 (Unaudited)' on page 6. The 'Consolidated Statements of Cash Flows' on page 9 will provide details on the sources and uses of cash during the six-month period ended June 30, 2005.