10-QPeriod: Q1 FY2006

DEVON ENERGY CORP/DE Quarterly Report for Q1 Ended Mar 31, 2006

Filed May 4, 2006For Securities:DVN

Summary

Devon Energy Corporation's Form 10-Q for the quarterly period ended March 31, 2006, indicates a company in robust financial health, operating as a large accelerated filer. The report details the company's financial performance and position, providing investors with insights into its operational results and strategic direction. Investors should note the company's ongoing commitment to transparency and compliance with SEC regulations, as demonstrated by its timely filing and status as a non-shell company. Key financial data for the first quarter of 2006, as presented in the unaudited consolidated financial statements, will be crucial for understanding any shifts in the company's balance sheet, income statement, and cash flows compared to the prior year and year-end. The Management's Discussion and Analysis section is expected to provide a narrative explanation of these financial changes, offering context on revenue drivers, cost structures, and liquidity.

Key Highlights

  • 1Devon Energy Corporation filed its quarterly report (10-Q) for the period ending March 31, 2006.
  • 2The company is classified as a large accelerated filer, indicating significant public float and reporting history.
  • 3Devon Energy is not a shell company, suggesting ongoing operational business activities.
  • 4The report includes unaudited consolidated financial statements for the three months ended March 31, 2006, and comparative periods.
  • 5Key financial statements covered are Balance Sheets, Statements of Operations, Stockholders' Equity, and Cash Flows.
  • 6The Management's Discussion and Analysis (MD&A) section provides commentary on financial condition and results of operations.
  • 7As of March 31, 2006, the company had 439,987,000 shares of common stock outstanding.

Frequently Asked Questions

This Form 10-Q is a quarterly report that provides a comprehensive update on Devon Energy Corporation's financial performance and condition for the period ended March 31, 2006. It includes unaudited financial statements and management's discussion of the results, offering key information for investors to assess the company's progress and financial health.

Being a large accelerated filer means Devon Energy meets certain thresholds for public float (market value of shares held by non-affiliates) and reporting history, typically having at least $700 million in public float and being subject to the SEC's reporting requirements for at least 12 calendar months. This classification implies a larger, more established public company with more stringent disclosure requirements.

The detailed financial performance data for the first quarter of 2006 can be found in the 'Consolidated Statements of Operations' and 'Consolidated Statements of Cash Flows,' both of which are included in Part I, Item 1 of this filing. The 'Notes to Consolidated Financial Statements' provide further detail and context.

The MD&A section is crucial as it offers management's perspective on the company's financial condition and the reasons behind the reported results of operations. It helps investors understand trends, significant events, uncertainties, and risks that may have impacted the company's financial performance during the quarter.