Supplemental Information on Oil and Gas Operations (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2019

Oil And Gas Exploration And Production Industries Disclosures [Abstract]

Standardized Measure of Discounted Future Cash Flows Relating to Proved Reserves

The following tables reflect Devon’s standardized measure of discounted future net cash flows from its proved reserves.

	Year Ended December 31,
	2019			2018			2017
Future cash inflows	$	20,750		$	27,759		$	20,845
Future costs:
Development		(2,093	)		(2,957	)		(2,687	)
Production		(9,174	)		(10,991	)		(7,782	)
Future income tax expense		(1,037	)		(2,036	)		—
Future net cash flow		8,446			11,775			10,376
10% discount to reflect timing of cash flows		(3,048	)		(4,625	)		(4,422	)
Standardized measure of discounted future net cash flows	$	5,398		$	7,150		$	5,954

Costs Incurred

	Year Ended December 31,
	2019		2018		2017
Property acquisition costs:
Proved properties	$	—	$	2	$	1
Unproved properties		35		70		50
Exploration costs		312		679		591
Development costs		1,499		1,505		1,046
Costs incurred	$	1,846	$	2,256	$	1,688

Results Of Operations

	Year Ended December 31,
	2019			2018			2017
Oil, gas and NGL sales	$	3,809		$	4,085		$	2,921
Production expenses		(1,197	)		(1,153	)		(791	)
Exploration expenses		(58	)		(128	)		(346	)
Depreciation, depletion and amortization		(1,398	)		(1,134	)		(908	)
Asset dispositions		37			276			212
Asset impairments		—			(109	)		—
Accretion of asset retirement obligations		(21	)		(26	)		(27	)
Income tax expense		(270	)		(416	)		—
Results of operations	$	902		$	1,395		$	1,061
Depreciation, depletion and amortization per Boe	$	11.72		$	10.51		$	9.58

Proved Reserves

	Oil (MMBbls)			Gas (Bcf)			NGL (MMBbls)			Combined (MMBoe)
Proved developed and undeveloped reserves:
December 31, 2016		191			1,613			200			660
Revisions due to prices		12			55			5			27
Revisions other than price		6			(31	)		(15	)		(14	)
Extensions and discoveries		90			371			63			215
Production		(42	)		(189	)		(21	)		(95	)
Sale of reserves		(3	)		(9	)		(1	)		(6	)
December 31, 2017		254			1,810			231			787
Revisions due to prices		12			7			2			15
Revisions other than price		(10	)		(102	)		(27	)		(53	)
Extensions and discoveries		93			358			54			206
Production		(47	)		(206	)		(26	)		(108	)
Sale of reserves		(6	)		(65	)		(7	)		(24	)
December 31, 2018		296			1,802			227			823
Revisions due to prices		(7	)		(86	)		(6	)		(28	)
Revisions other than price		(13	)		(50	)		(9	)		(31	)
Extensions and discoveries		76			269			39			160
Purchase of reserves		3			7			1			6
Production		(55	)		(219	)		(28	)		(119	)
Sale of reserves		(24	)		(102	)		(13	)		(54	)
December 31, 2019		276			1,621			211			757
Proved developed reserves:
December 31, 2016		157			1,359			161			545
December 31, 2017		175			1,455			168			585
December 31, 2018		196			1,427			166			600
December 31, 2019		198			1,344			167			589
Proved developed-producing reserves:
December 31, 2016		141			1,267			148			500
December 31, 2017		163			1,384			160			554
December 31, 2018		188			1,394			162			582
December 31, 2019		191			1,327			165			578
Proved undeveloped reserves:
December 31, 2016		34			254			39			115
December 31, 2017		79			355			63			202
December 31, 2018		100			375			61			223
December 31, 2019		78			277			44			168

(1) Gas reserves are converted to Boe at the rate of six Mcf per Bbl of oil, based upon the approximate relative energy content of gas and oil. NGL reserves are converted to Boe on a one-to-one basis with oil. The conversion rates are not necessarily indicative of the relationship of oil, natural gas and NGL prices.

Proved Undeveloped Reserves

	U.S.
Proved undeveloped reserves as of December 31, 2018		223
Extensions and discoveries		89
Revisions due to prices		—
Revisions other than price		(20	)
Sale of reserves		(17	)
Conversion to proved developed reserves		(107	)
Proved undeveloped reserves as of December 31, 2019		168

Schedule Of Principal Changes In The Standardized Measure Of Discounted Future Net Cash Flows Attributable To Proved Reserves

	Year Ended December 31,
	2019			2018			2017
Beginning balance	$	7,150		$	5,954		$	3,292
Net changes in prices and production costs		(2,323	)		1,533			1,784
Oil, gas and NGL sales, net of production costs		(2,612	)		(2,932	)		(2,130	)
Changes in estimated future development costs		303			(273	)		(73	)
Extensions and discoveries, net of future development costs		1,690			2,944			2,398
Purchase of reserves		43			—			2
Sales of reserves in place		(481	)		(120	)		(3	)
Revisions of quantity estimates		(359	)		(152	)		(51	)
Previously estimated development costs incurred during the period		857			787			322
Accretion of discount		506			648			445
Net change in income taxes and other		624			(1,239	)		(32	)
Ending balance	$	5,398		$	7,150		$	5,954