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Property, Plant and Equipment (Tables) | 12 Months Ended
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Dec. 31, 2024
Extractive Industries [Abstract] |
Table of Property and Equipment, net | The following table presents the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities.
|  | December 31, 2024 |  |  | December 31, 2023 |
Property and equipment: |  |  |  |  |  |
Proved |  | $ | 53,647 |  |  | $ | 46,659 |
Unproved and properties under development |  |  | 2,814 |  |  |  | 1,279 |
Total oil and gas |  |  | 56,461 |  |  |  | 47,938 |
Less accumulated DD&A |  |  | (33,263 | ) |  |  | (30,113 | )
Oil and gas property and equipment, net |  |  | 23,198 |  |  |  | 17,825 |
Other property and equipment |  |  | 2,671 |  |  |  | 2,289 |
Less accumulated DD&A |  |  | (858 | ) |  |  | (786 | )
Other property and equipment, net (1) |  |  | 1,813 |  |  |  | 1,503 |
Property and equipment, net |  | $ | 25,011 |  |  | $ | 19,328 |
(1) $178 million and $136 million related to CDM in 2024 and 2023, respectively.
Summary of Changes in Suspended Exploratory Well Costs | The following summarizes the changes in suspended exploratory well costs for the three years ended December 31, 2024.
|  | Year Ended December 31, |
|  | 2024 |  | 2023 |  | 2022 |
Beginning balance |  | $ | 136 |  | $ | 126 |  | $ | 66 |
Additions pending determination of proved reserves |  |  | 674 |  |  | 522 |  |  | 462 |
Charges to exploration expense |  |  | (1 | ) |  | (1 | ) |  | (1 | )
Reclassifications to proved properties |  |  | (516 | ) |  | (511 | ) |  | (401 | )
Ending balance |  | $ | 293 |  | $ | 136 |  | $ | 126 |

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- Definition Tabular disclosure of the change in capitalized exploratory costs during the period. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 932 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477215/932-235-50-1B + Details
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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