XML 89 R31.htm IDEA: XBRL DOCUMENT
v3.20.4

Derivative Financial Instruments (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2020
Derivative [Line Items] |
Schedule Of Derivative Financial Instruments Included In Consolidated Statements Of Comprehensive Earnings And Consolidated Balance Sheets | The following table presents the net gains and losses by derivative financial instrument type followed by the corresponding individual consolidated statements of comprehensive earnings caption.
|  | Year Ended December 31, |
|  | 2020 |  |  | 2019 |  |  | 2018 |
Commodity derivatives: |  |  |  |  |  |  |  |  |  |  |  |
Oil, gas and NGL derivatives |  | $ | 155 |  |  | $ | (454 | ) |  | $ | 457 |
Marketing and midstream revenues |  |  | — |  |  |  | 1 |  |  |  | (1 | )
Interest rate derivatives: |  |  |  |  |  |  |  |  |  |  |  |
Other expenses |  |  | — |  |  |  | — |  |  |  | 65 |
Net gains (losses) recognized |  | $ | 155 |  |  | $ | (453 | ) |  | $ | 521 |
The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.
|  | December 31, 2020 |  |  | December 31, 2019 |
Commodity derivative assets: |  |  |  |  |  |  |  |
Other current assets |  | $ | 5 |  |  | $ | 49 |
Other long-term assets |  |  | 1 |  |  |  | 1 |
Total derivative assets |  | $ | 6 |  |  | $ | 50 |
Commodity derivative liabilities: |  |  |  |  |  |  |  |
Other current liabilities |  | $ | 143 |  |  | $ | 30 |
Other long-term liabilities |  |  | 5 |  |  |  | 1 |
Total derivative liabilities |  | $ | 148 |  |  | $ | 31 |
Open Oil Derivative Positions [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions |
|  | Price Swaps |  |  | Price Collars |
Period |  | Volume (Bbls/d) |  |  | Weighted Average Price ($/Bbl) |  |  | Volume (Bbls/d) |  |  | Weighted Average Floor Price ($/Bbl) |  |  | Weighted Average Ceiling Price ($/Bbl) |
Q1-Q4 2021 |  |  | 28,040 |  |  | $ | 37.60 |  |  |  | 32,726 |  |  | $ | 40.77 |  |  | $ | 50.77 |
Q1-Q2 2022 |  |  | 1,249 |  |  | $ | 45.16 |  |  |  | 9,856 |  |  | $ | 38.24 |  |  | $ | 48.24 |
|  | Oil Basis Swaps |
Period |  | Index |  | Volume (Bbls/d) |  |  | Weighted Average Differential to WTI ($/Bbl) |
Q1-Q4 2021 |  | Midland Sweet |  |  | 7,000 |  |  | $ | 1.27 |
Open Natural Gas Derivative Positions [Member] |
Derivative [Line Items] |
Schedule Of Open Derivative Positions | The second table presents Devon’s natural gas derivatives that settle against the respective indices noted within the table.
|  | Price Swaps |  |  | Price Collars |
Period |  | Volume (MMBtu/d) |  |  | Weighted Average Price ($/MMBtu) |  |  | Volume (MMBtu/d) |  |  | Weighted Average Floor Price ($/MMBtu) |  |  | Weighted Average Ceiling Price ($/MMBtu) |
Q1-Q4 2021 |  |  | 32,699 |  |  | $ | 2.76 |  |  |  | 179,055 |  |  | $ | 2.45 |  |  | $ | 2.95 |
Q1-Q4 2022 |  |  | 6,961 |  |  | $ | 2.85 |  |  |  | 54,901 |  |  | $ | 2.66 |  |  | $ | 3.16 |
|  | Natural Gas Basis Swaps |
Period |  | Index |  | Volume (MMBtu/d) |  |  | Weighted Average Differential to Henry Hub ($/MMBtu) |
Q1-Q4 2021 |  | El Paso Natural Gas |  |  | 35,000 |  |  | $ | (0.92 | )

X
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. + References No definition available. + Details
Name: | us-gaap_DerivativeLineItems
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624163-113959 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5580258-113959 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41620-113959 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579245-113959 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41638-113959 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41678-113959 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=121590274&loc=d3e41641-113959 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5579240-113959 + Details
Name: | us-gaap_ScheduleOfDerivativeInstrumentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of derivative instrument not designated or qualifying as hedging instrument. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL5624171-113959 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4CC -URI http://asc.fasb.org/extlink&oid=121590274&loc=SL109998890-113959 + Details
Name: | us-gaap_ScheduleOfOtherDerivativesNotDesignatedAsHedgingInstrumentsStatementsOfFinancialPerformanceAndFinancialPositionLocationTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_TradingActivityByTypeAxis=dvn_OpenOilDerivativePositionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |

X
- Details
Name: | us-gaap_TradingActivityByTypeAxis=dvn_OpenNaturalGasDerivativePositionsMember
Namespace Prefix: |
Data Type: | na
Balance Type: |
Period Type: |