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Reportable Segments (Tables)
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Schedule of Reconciliations of Net Earnings to EBITDAX and Field-Level Cash Margin

The following table reflects Devon's net earnings, assets and capital expenditures for the time periods presented below.

 

 

 

Three Months Ended September 30,

 

 

Nine Months Ended September 30,

 

 

 

2025

 

 

2024

 

 

2025

 

 

2024

 

Total revenues

 

$

4,331

 

 

$

4,024

 

 

$

13,067

 

 

$

11,537

 

 

 

 

 

 

 

 

 

 

 

 

 

 

LOE

 

 

481

 

 

 

366

 

 

 

1,443

 

 

 

1,129

 

Gathering, processing & transportation

 

 

213

 

 

 

200

 

 

 

636

 

 

 

577

 

Production and property taxes

 

 

201

 

 

 

197

 

 

 

627

 

 

 

596

 

Total significant expenses

 

 

895

 

 

 

763

 

 

 

2,706

 

 

 

2,302

 

Marketing and midstream expenses

 

 

1,453

 

 

 

1,149

 

 

 

4,246

 

 

 

3,390

 

DD&A

 

 

879

 

 

 

794

 

 

 

2,705

 

 

 

2,284

 

G&A

 

 

114

 

 

 

117

 

 

 

357

 

 

 

345

 

Financing costs, net

 

 

109

 

 

 

88

 

 

 

348

 

 

 

240

 

Income tax expense

 

 

219

 

 

 

239

 

 

 

600

 

 

 

583

 

Other segment items (1)

 

 

(31

)

 

 

49

 

 

 

(14

)

 

 

104

 

Total expenses

 

 

3,638

 

 

 

3,199

 

 

 

10,948

 

 

 

9,248

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net earnings

 

$

693

 

 

$

825

 

 

$

2,119

 

 

$

2,289

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total assets

 

$

31,221

 

 

$

30,263

 

 

$

31,221

 

 

$

30,263

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Capital expenditures, including acquisitions

 

$

1,056

 

 

$

5,961

 

 

$

2,976

 

 

$

7,877

 

(1)
Other segment items included in segment net earnings are exploration expenses, asset impairments, asset dispositions and other, net.