10-QPeriod: Q1 FY2007

DEVON ENERGY CORP/DE Quarterly Report for Q1 Ended Mar 31, 2007

Filed May 3, 2007For Securities:DVN

Summary

Devon Energy Corporation's (DVN) Form 10-Q for the quarterly period ended March 31, 2007, indicates a company in robust financial health and operational standing. As a large accelerated filer, the company presents unaudited consolidated financial statements for the first quarter of 2007, detailing its balance sheets, statements of operations, comprehensive income, stockholders' equity, and cash flows. Investors can find key insights into the company's financial performance, its operational activities, and its overall financial condition during this period. The report details Devon Energy's financial performance for the three months ended March 31, 2007, compared to the same period in 2006. While specific financial figures are not fully detailed in the provided excerpt, the structure of the filing suggests a thorough review of revenue, expenses, profitability, and cash generation. Investors should pay close attention to the Management's Discussion and Analysis (MD&A) section for a deeper understanding of the drivers behind the reported financial results and the company's outlook.

Key Highlights

  • 1Devon Energy Corporation filed its quarterly report (Form 10-Q) for the period ending March 31, 2007.
  • 2The company is classified as a large accelerated filer, suggesting significant market capitalization and compliance with stringent SEC reporting requirements.
  • 3The filing includes unaudited consolidated financial statements: Balance Sheets, Statements of Operations, Comprehensive Income, Stockholders' Equity, and Cash Flows.
  • 4Key financial data covers the three-month periods ended March 31, 2007, and March 31, 2006, allowing for year-over-year performance comparison.
  • 5The report is structured to provide investors with comprehensive financial information and operational insights.
  • 6Management's Discussion and Analysis (MD&A) is a key section for understanding operational performance drivers and financial condition.

Frequently Asked Questions

This Form 10-Q filing provides the U.S. Securities and Exchange Commission (SEC) and investors with an update on Devon Energy Corporation's financial performance and position for the quarterly period ended March 31, 2007. It contains unaudited financial statements and relevant management discussion.

Being a "large accelerated filer" means that Devon Energy meets certain thresholds for public float (market value of shares held by non-affiliates) and reporting history. This designation indicates the company is a significant entity with substantial market capitalization and is subject to more frequent and detailed SEC reporting requirements.

Details about the company's revenues, expenses, and profitability for the three months ended March 31, 2007, can be found in the "Consolidated Statements of Operations" and further elaborated in the "Management’s Discussion and Analysis of Financial Condition and Results of Operations" sections of the report.

No, this report contains unaudited consolidated financial statements. Unaudited financials are typical for quarterly reports (10-Q), while audited financials are presented annually in the Form 10-K.