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Leases (Maturities of Lease Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Leases [Abstract]    
2024 $ 21  
2025 21  
2026 21  
2027 21  
2028 21  
Thereafter [1] 372  
Total lease payments 477  
Less: interest (170)  
Present value of lease liabilities [2] 307 $ 257
2024 12  
2025 6  
2026 4  
2027 0  
2028 0  
Thereafter [1] 0  
Total lease payments 22  
Less: interest (1)  
Present value of lease liabilities [2] 21 21
2024 33  
2025 27  
2026 25  
2027 21  
2028 21  
Thereafter [1] 372  
Total lease payments 499  
Less: interest (171)  
Present value of lease liabilities [2] $ 328 $ 278
[1] Devon has one real estate lease that contains a residual value guarantee. Under the lease terms, the residual value guarantee stipulates that if the lessor were to sell the leased property and receive sale proceeds less than 90% of the lease liability at the time of sale, Devon would be required to make a shortfall payment to the lessor for the difference.
[2] Devon has entered into certain leases of equipment related to the exploration, development and production of oil and gas that had terms not yet commenced as of December 31, 2023 and are therefore excluded from the amounts shown above.