10-QPeriod: Q3 FY2010

DEVON ENERGY CORP/DE Quarterly Report for Q3 Ended Sep 30, 2010

Filed November 4, 2010For Securities:DVN

Summary

Devon Energy Corporation's (DVN) 10-Q filing for the period ending September 30, 2010, reveals a company navigating the dynamic energy landscape. The report provides a detailed look at the company's financial position, operational performance, and cash flows, offering crucial insights for investors assessing its current health and future prospects. Investors should pay close attention to the Management's Discussion and Analysis (MD&A) section, which will shed light on the drivers behind the reported financial results, including production levels, commodity prices, and strategic initiatives undertaken during the quarter. The filing also includes important risk factors and disclosures about market risks, which are essential for a comprehensive understanding of potential challenges and opportunities facing the company.

Financial Highlights

44 data points
Beta

Revenue

$2.35B

Net Income

$2.09B

88.8% Net Margin

EPS (Diluted)

$4.79

Total Assets

$31.86B

Cash & Equivalents

$4.00B

Free Cash Flow

-$228.00M

Financial Statements
Beta
Revenue$2.35B
Operating Expenses$1.65B
Operating Income$429.00M
Interest Expense$98.00M
Net Income$2.09B
EPS (Basic)$4.81
EPS (Diluted)$4.79

Key Highlights

  • 1The filing provides unaudited consolidated financial statements for the nine months ended September 30, 2010, including Balance Sheets, Statements of Operations, Comprehensive Earnings (Loss), Stockholders' Equity, and Cash Flows.
  • 2Item 2, Management's Discussion and Analysis (MD&A), offers a narrative explanation of the company's financial condition and results of operations, crucial for understanding performance drivers.
  • 3Disclosure of market risks, including interest rate, foreign currency, and commodity price risks, is detailed in Item 3, enabling investors to assess potential financial exposures.
  • 4The report outlines legal proceedings in Item 1, informing investors of any significant litigation that could impact the company's financial standing.
  • 5Item 1A, Risk Factors, presents potential risks and uncertainties that could materially affect the company's business, financial condition, or results of operations.
  • 6Information regarding unregistered sales of equity securities and use of proceeds is provided in Item 2, offering transparency on capital structure changes.
  • 7Exhibits are included in Item 6, which can provide supporting documentation for the financial statements and disclosures.

Frequently Asked Questions

While the filing itself presents the financial outcomes, investors should refer to the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' (Item 2) for a detailed explanation of operational performance, including production volumes, reserve changes, and any significant operational events or challenges encountered during the quarter.

The 'Management's Discussion and Analysis' section is expected to detail the impact of fluctuating commodity prices on revenue, production, and profitability. Investors should look for specific commentary on how average realized prices for oil and natural gas affected the company's financial performance.

The 'Risk Factors' section (Item 1A) will enumerate the key risks and uncertainties that could materially impact Devon Energy. These typically include risks related to commodity price volatility, exploration and production uncertainties, environmental regulations, and competition within the energy sector.

Details on capital expenditures and financing activities would likely be found within the 'Consolidated Statements of Cash Flows' and further elaborated upon in the 'Management's Discussion and Analysis' section. Investors should examine these sections for insights into the company's investment strategies and funding sources.