10-QPeriod: Q1 FY2011

DEVON ENERGY CORP/DE Quarterly Report for Q1 Ended Mar 31, 2011

Filed May 4, 2011For Securities:DVN

Summary

Devon Energy Corp. (DVN) filed its 10-Q for the quarterly period ended March 31, 2011, on May 4, 2011. The filing provides a snapshot of the company's financial health and operational performance during the first quarter of 2011. Investors should pay close attention to the Management's Discussion and Analysis (MD&A) section, which offers detailed insights into the company's financial condition, results of operations, and key business drivers. This includes an understanding of their revenue generation, cost structures, and any significant capital expenditures or financing activities undertaken during the period. The report details Devon Energy's performance in a dynamic energy market, likely influenced by commodity prices and exploration/production activities. Investors will find critical information regarding the company's liquidity, debt levels, and overall financial stability within the Consolidated Financial Statements and accompanying notes. Furthermore, the Risk Factors section (Item 1A) is crucial for understanding potential challenges and uncertainties that could impact future performance, including market volatility, regulatory changes, and operational risks inherent in the oil and gas industry.

Financial Highlights

44 data points
Beta

Revenue

$2.15B

Net Income

$416.00M

19.4% Net Margin

EPS (Diluted)

$0.97

Total Assets

$33.10B

Cash & Equivalents

$1.72B

Free Cash Flow

-$567.00M

Financial Statements
Beta
Revenue$2.15B
Operating Expenses$1.57B
Operating Income$389.00M
Interest Expense$81.00M
Net Income$416.00M
EPS (Basic)$0.97
EPS (Diluted)$0.97

Key Highlights

  • 1The 10-Q filing covers the financial performance for the first quarter of 2011, providing an update on the company's financial position and operational results.
  • 2Key financial statements, including Consolidated Balance Sheets, Statements of Operations, and Cash Flows, are presented for investor review.
  • 3Management's Discussion and Analysis (MD&A) provides crucial context on the company's financial condition, results of operations, and outlook.
  • 4Risk Factors (Item 1A) details potential challenges and uncertainties that could affect Devon Energy's future performance, a critical read for risk-aware investors.
  • 5The report includes disclosures on market risk, allowing investors to understand the company's exposure to fluctuations in commodity prices and interest rates.
  • 6Information on Legal Proceedings and Defaults Upon Senior Securities is included, which could have material impacts on the company's financial standing.

Frequently Asked Questions

The primary drivers would be detailed in the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' section. This typically includes discussions on commodity prices (oil and natural gas), production volumes, exploration and development activities, and any significant acquisitions or divestitures.

The Consolidated Balance Sheets provide a snapshot of the company's assets, liabilities, and equity. The notes to the financial statements will offer more detail on debt instruments, credit facilities, and overall liquidity, allowing investors to assess the company's financial leverage and ability to meet its obligations.

The 'Risk Factors' section (Item 1A) is dedicated to outlining potential risks. For an oil and gas company like Devon Energy, these typically include volatility in energy prices, regulatory and environmental risks, operational risks associated with exploration and production, geopolitical factors, and competition.

Items 1 (Legal Proceedings) and 3 (Defaults Upon Senior Securities) of Part II address these matters. Investors should review these sections for any disclosed lawsuits or any instances where the company may have failed to meet the terms of its debt obligations.