8-KEarnings & ResultsRegulation FDExhibits & Filings

DEVON ENERGY CORP/DE 8-K Report, Financial Results (Feb 20, 2018)

Filed February 20, 2018For Securities:DVN

Summary

Devon Energy Corporation (DVN) filed an 8-K on February 20, 2018, primarily to report its financial and operational results for the fourth quarter and full year ended December 31, 2017. The filing also provides significant forward-looking information, including the company's three-year business outlook and specific guidance for 2018. This proactive disclosure allows investors to assess the company's performance and strategic direction. In addition to the core financial results, the report includes an operations report for Q4 2017 and supplemental financial information detailing Devon Energy's recent conversion to the successful efforts accounting method. These exhibits, furnished with the 8-K, offer deeper insights into the company's operational performance and accounting changes, crucial for a comprehensive understanding of its financial reporting and future expectations. Investors should review these attached exhibits for a complete picture.

Key Highlights

  • 1Announcement of Q4 and Full Year 2017 financial and operational results.
  • 2Disclosure of a comprehensive three-year business outlook for Devon Energy.
  • 3Provision of detailed financial and operational guidance for the fiscal year 2018.
  • 4Inclusion of a Q4 2017 operations report for enhanced operational context.
  • 5Supplemental financial information regarding the company's conversion to the successful efforts accounting method is provided.
  • 6Exhibits 99.1, 99.2, and 99.3 (earnings release, operations report, and supplemental info) are furnished and available on the company website.
  • 7Filing signifies a commitment to transparency and providing forward-looking data to investors.

Frequently Asked Questions

The main purpose of this 8-K filing is to announce Devon Energy's financial and operational results for the fourth quarter and full year ended December 31, 2017. It also serves to provide investors with important forward-looking information, including a three-year business outlook and 2018 guidance.

This filing includes several furnished exhibits: an earnings release (Exhibit 99.1), a detailed operations report for the fourth quarter of 2017 (Exhibit 99.2), and supplemental financial information concerning the company's conversion to the successful efforts accounting method (Exhibit 99.3).

The detailed financial results, operations report, supplemental financial information, and the earnings release are furnished as exhibits to this 8-K filing. They are also expected to be available on Devon Energy's official website at www.devonenergy.com.

The supplemental financial information addresses the company's conversion to the successful efforts accounting method. While this is a change in accounting principle, the provided supplemental information should offer clarity on its impact and how to interpret financial statements going forward.