v2.4.0.6

Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2011

Derivative [Line Items]

Schedule Of Open Interest Rate Swap Derivative Positions

		December 31,
	Balance Sheet Caption	2011	2010
		(In millions)
Asset derivatives:
Commodity derivatives	Other current assets	$      611	$      248
Commodity derivatives	Other long-term assets	17	1
Interest rate derivatives	Other current assets	30	100
Interest rate derivatives	Other long-term assets	22	40
Total asset derivatives		$      680	$      389

Liability derivatives:
Commodity derivatives	Other current liabilities	$         82	$         50
Commodity derivatives	Other long-term liabilities	—	142
Total liability derivatives		$         82	$      192

Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets And Consolidated Statement Of Operations

	Comprehensive Statement of Earnings Caption		2011	2010	2009
			(In millions)
Cash settlements:
Commodity derivatives	Oil, gas and NGL derivatives		$  392	$   888	$   505
Interest rate derivatives	Other, net		77	44	40
Foreign exchange derivatives	Other, net		16	—	—
Total cash settlements			485	932	545
Unrealized gains (losses):
Commodity derivatives		Oil, gas and NGL derivatives	489	(77)	(121)
Interest rate derivatives		Other, net	(88)	(30)	66
Total unrealized gains (losses)			401	(107)	(55)
Net gain recognized on comprehensive statements of earnings			$   886	$   825	$   490

Commodity Derivatives [Member]

Derivative [Line Items]

Schedule Of Open Commodity Derivative Positions

Production Period	Price Swaps		Price Collars			Call Options Sold
Period	Volume (Bbls/d)	Weighted Average Price ($/Bbl)	Volume (Bbls/d)	Weighted Average Floor Price ($/Bbl)	Weighted Average Ceiling Price ($/Bbl)	Volume (Bbls/d)	Weighted Average Price ($/Bbl)
Q1-Q4 2012.	22,000	$107.17	54,000	$85.74	$126.42	19,500	$95.00
Q1-Q4 2013.	—	—	7,000	$90.00	$125.12	—	—

As of December 31, 2011, Devon had the following open natural gas derivative positions. Devon's natural gas derivative settle against the Inside FERC first of the month Henry Hub index.

Production Period	Price Swaps		Price Collars			Call Options Sold
Period	Volume (MMBtu/d)	Weighted Average Price ($/MMBtu)	Volume (MMBtu/d)	Weighted Average Floor Price ($/MMBtu)	Weighted Average Ceiling Price ($/MMBtu)	Volume (MMBtu/d)	Weighted Average Price ($/MMBtu)
Q1-Q4 2012.	325,000	$5.09	490,000	$4.75	$5.57	487,500	$6.00

Basis Swaps
Production Period	Index	Volume (MMBtu/d)	Weighted Average Differential to Henry Hub ($/MMBtu)
Q1-Q4 2012	El Paso Natural Gas Co. (Permian)	85,000	$(0.14)
Q1-Q4 2012	Panhandle Eastern Pipeline	70,000	$(0.15)
Q1-Q4 2012	Colorado Interstate Gas Co.	10,000	$(0.18)

Interest Rate Derivatives [Member]

Derivative [Line Items]

Schedule Of Open Commodity Derivative Positions

Notional	Fixed Rate Received	Variable Rate Paid	Expiration
(In millions)
$           100	1.90%	Federal funds rate	August 2012
750	3.88%	Federal funds rate	July 2013
$           850	3.65%

Foreign Exchange Derivatives [Member]

Derivative [Line Items]

Schedule Of Open Commodity Derivative Positions

Forward Contract
Currency	Contract Type		CAD Notional		Fixed Rate Received	Expiration
			(In millions)		(CAD-USD)
Canadian Dollar	Sell		$           305		0.9812	March 30, 2012

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