8-KOther Events

DEVON ENERGY CORP/DE 8-K Report (Oct 31, 2001)

Filed October 31, 2001For Securities:DVN

Summary

Devon Energy Corporation (DVN) filed an 8-K on October 31, 2001, reporting on various financial transactions related to its oil and natural gas production. These transactions cover portions of the company's production for 2001, 2002, and 2003. Notably, these agreements were entered into following Devon's acquisition of Anderson Exploration Ltd. on October 15, 2001. The filing primarily references a press release, filed as an exhibit, which details these financial arrangements. Investors should refer to this press release for specific information regarding the nature and impact of these hedging or risk management activities, as they are critical to understanding Devon's exposure to commodity price fluctuations and the financial implications of the Anderson Exploration acquisition.

Key Highlights

  • 1Devon Energy entered into various financial transactions for oil and natural gas production.
  • 2These transactions cover production for the years 2001, 2002, and 2003.
  • 3The transactions were a result of the recent acquisition of Anderson Exploration Ltd.
  • 4The acquisition of Anderson Exploration Ltd. was completed on October 15, 2001.
  • 5A press release dated October 31, 2001, containing details of these transactions, is filed as an exhibit.
  • 6The filing is made under Item 5 (Other Events) and Item 7 (Exhibits) of Form 8-K.

Frequently Asked Questions

The main purpose of this 8-K filing is to report on various financial transactions that Devon Energy Corporation has entered into concerning its oil and natural gas production. These transactions are aimed at managing price risk and cover production for the years 2001, 2002, and 2003.

The financial transactions reported in this 8-K were entered into as a result of Devon Energy's acquisition of Anderson Exploration Ltd., which was completed on October 15, 2001. The acquired company's production likely plays a role in the new financial arrangements.

More detailed information about these financial transactions is available in the press release dated October 31, 2001, which is filed as Exhibit 99 to this Form 8-K. Investors are encouraged to review this press release for specifics.