Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Preliminary Allocation of the Total Purchase Price

The following table represents the final allocation of the total purchase price of WPX to the identifiable assets acquired and the liabilities assumed based on the fair values as of the acquisition date.

	Final Purchase
	Price Allocation
Consideration:
WPX Common Stock outstanding		561.2
Exchange Ratio		0.5165
Devon common stock issued		289.9
Devon closing price on January 7, 2021	$	18.57
Total common equity consideration		5,383
Share-based replacement awards		49
Total consideration	$	5,432
Assets acquired:
Cash, cash equivalents and restricted cash	$	344
Accounts receivable		425
Other current assets		49
Right-of-use assets		38
Proved oil and gas property and equipment		7,017
Unproved and properties under development		2,362
Other property and equipment		485
Investments		400
Other long-term assets		43
Total assets acquired	$	11,163
Liabilities assumed:
Accounts payable	$	346
Revenue and royalties payable		223
Other current liabilities		454
Debt		3,562
Lease liabilities		38
Asset retirement obligations		94
Deferred income taxes		249
Other long-term liabilities		765
Total liabilities assumed		5,731
Net assets acquired	$	5,432

Schedule of WPX Revenues And Earnings Included In Devon's Consolidated Comprehensive Statements of Earnings

The following table represents WPX’s revenues and earnings included in Devon’s consolidated statements of comprehensive earnings subsequent to the closing date of the Merger.

	Year Ended December 31,
	2021
Total revenues	$	5,734
Net earnings	$	1,382

Schedule of Pro Forma Adjustments to Confirm Acquisition

The unaudited pro forma financial information is not necessarily indicative of what would have occurred if the Merger had been completed as of the beginning of the periods presented, nor is it indicative of future results.

	Year Ended December 31,
Continuing operations:	2020
Total revenues	$	7,261
Net loss	$	(3,438	)
Basic net loss per share	$	(5.16	)