Devon Energy (DVN) 10-Q 4 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Apr. 20, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Amendment Flag	false
Entity Registrant Name	DEVON ENERGY CORP/DE
Entity Central Index Key	1,090,012
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2,016
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding		524

Consolidated Comprehensive Stat

Consolidated Comprehensive Statements Of Earnings - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Consolidated Comprehensive Statements Of Earnings [Abstract]
Oil, gas and NGL sales	$ 825	$ 1,339
Oil, gas and NGL derivatives	33	294
Marketing and midstream revenues	1,268	1,632
Total operating revenues	2,126	3,265
Lease operating expenses	444	553
Marketing and midstream operating expenses	1,066	1,439
General and administrative expenses	194	251
Production and property taxes	78	108
Depreciation, depletion and amortization	542	930
Asset impairments	3,035	5,460
Restructuring and transaction costs	247
Other operating items	20	19
Total operating expenses	5,626	8,760
Operating loss	(3,500)	(5,495)
Net financing costs	164	117
Other nonoperating items	21	12
Loss before income taxes	(3,685)	(5,624)
Income tax benefit	(217)	(2,035)
Net loss	(3,468)	(3,589)
Net earnings (loss) attributable to noncontrolling interests	(412)	10
Net loss attributable to Devon	$ (3,056)	$ (3,599)
Net loss per share attributable to Devon:
Basic	$ (6.44)	$ (8.88)
Diluted	$ (6.44)	$ (8.88)
Comprehensive loss:
Net loss	$ (3,468)	$ (3,589)
Other comprehensive earnings (loss), net of tax:
Foreign currency translation	23	(302)
Pension and postretirement plans	4	4
Other comprehensive earnings (loss), net of tax	27	(298)
Comprehensive loss	(3,441)	(3,887)
Comprehensive earnings (loss) attributable to noncontrolling interests	(412)	10
Comprehensive loss attributable to Devon	$ (3,029)	$ (3,897)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (3,468)	$ (3,589)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation, depletion and amortization	542	930
Asset impairments	3,035	5,460
Deferred income tax benefit	(207)	(2,047)
Derivatives and other financial instruments	194	(430)
Cash settlements on derivatives and financial instruments	(104)	719
Other noncash charges	(67)	225
Net change in working capital	198	215
Change in long-term other assets	53	141
Change in long-term other liabilities	(27)	24
Net cash from operating activities	149	1,648
Cash flows from investing activities:
Capital expenditures	(749)	(1,717)
Acquisitions of property, equipment and businesses	(1,627)	(404)
Divestitures of property and equipment	18	2
Other	(1)	3
Net cash from investing activities	(2,359)	(2,116)
Cash flows from financing activities:
Borrowings of long-term debt, net of issuance costs	396	957
Repayments of long-term debt	(259)	(487)
Net short-term debt borrowings (repayments)	(626)	15
Issuance of common stock	$ 1,469
Sale of subsidiary units		569
Issuance of subsidiary units	$ 727	2
Dividends paid on common stock	(125)	(99)
Distributions to noncontrolling interests	(73)	(53)
Other		(12)
Net cash from financing activities	1,509	892
Effect of exchange rate changes on cash	26	(46)
Net change in cash and cash equivalents	(675)	378
Cash and cash equivalents at beginning of period	2,310	1,480
Cash and cash equivalents at end of period	$ 1,635	$ 1,858

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 1,635	$ 2,310
Accounts receivable		1,023	1,105
Derivatives, at fair value		54	43
Income taxes receivable		24	147
Other current assets		214	416
Total current assets		2,950	4,021
Oil and gas, based on full cost accounting:
Subject to amortization		79,907	78,190
Not subject to amortization		3,901	2,584
Total oil and gas		83,808	80,774
Midstream and other		10,979	10,380
Total property and equipment, at cost		94,787	91,154
Less accumulated depreciation, depletion and amortization		(75,523)	(72,086)
Property and equipment, net		19,264	19,068
Goodwill		4,159	5,032
Other long-term assets		2,264	1,330
Total assets		28,637	29,451
Current liabilities:
Accounts payable		640	906
Revenues and royalties payable		705	763
Short-term debt	[1]	350	976
Other current liabilities		905	650
Total current liabilities		2,600	3,295
Long-term debt		12,195	12,056
Asset retirement obligations		1,491	1,370
Other long-term liabilities		1,112	853
Deferred income taxes		731	888
Stockholders' equity:
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 524 million and 418 million shares in 2016 and 2015, respectively		52	42
Additional paid-in capital		7,501	4,996
Retained earnings (accumulated deficit)		(1,400)	1,781
Accumulated other comprehensive earnings		257	230
Total stockholders' equity attributable to Devon		6,410	7,049
Noncontrolling interests		4,098	3,940
Total stockholders' equity		$ 10,508	$ 10,989
Commitments and contingencies (Note 19)
Total liabilities and stockholders' equity		$ 28,637	$ 29,451
[1]	Short-term debt as of March 31, 2016 consists of $350 million of floating rate due on December 15, 2016. Short-term debt as of December 31, 2015 consists of $626 million of commercial paper and $350 million floating rate due on December 15, 2016.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Consolidated Balance Sheets [Abstract]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	524,000,000	418,000,000

Consolidated Statements Of Stoc

Consolidated Statements Of Stockholders' Equity - USD ($) shares in Millions, $ in Millions	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]	Total
Balance, at Dec. 31, 2014	$ 41	$ 4,088	$ 16,631	$ 779		$ 4,802	$ 26,341
Balance, shares, at Dec. 31, 2014	409
Net earnings (loss)			(3,599)			10	(3,589)
Other comprehensive earnings (loss), net of tax				(298)			(298)
Restricted stock grants, net of cancellations, shares	2
Common stock repurchased					$ (18)		(18)
Common stock retired		(18)			18
Common stock dividends			(99)				(99)
Share-based compensation		48					48
Share-based compensation tax benefits		1					1
Subsidiary equity transactions		423				263	686
Distributions to noncontrolling interests						(53)	(53)
Balance, at Mar. 31, 2015	$ 41	4,542	12,933	481		5,022	23,019
Balance, shares, at Mar. 31, 2015	411
Balance, at Dec. 31, 2015	$ 42	4,996	1,781	230		3,940	10,989
Balance, shares, at Dec. 31, 2015	418
Net earnings (loss)			(3,056)			(412)	(3,468)
Other comprehensive earnings (loss), net of tax				27			27
Restricted stock grants, net of cancellations, shares	3
Common stock repurchased					(12)		(12)
Common stock retired		(12)			$ 12
Common stock dividends			(125)				(125)
Common stock issued	$ 10	2,117					2,127
Common stock issued, shares	103
Share-based compensation		99					99
Subsidiary equity transactions		301				643	944
Distributions to noncontrolling interests						(73)	(73)
Balance, at Mar. 31, 2016	$ 52	$ 7,501	$ (1,400)	$ 257		$ 4,098	$ 10,508
Balance, shares, at Mar. 31, 2016	524

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	1. Summary of Significant Accounting Policies The accompanying unaudited interim financial statements and notes of Devon have been prepared pursuant to the rules and regulations of the SEC. Pursuant to such rules and regulations, certain disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been omitted. The accompanying unaudited interim financial statements and notes should be read in conjunction with the financial statements and notes included in Devon’s 201 5 Annual Report on Form 10-K. The accompanying unaudited interim financial statements furnished in this report reflect all adjustments that are, in the opinion of management, necessary for a fair statement of Devon’s results of operations and cash flows for the three-month periods ended March 31 , 201 6 and 201 5, as applicable, and Devon’s financial position as of March 31 , 201 6 .  Recently Issued Accounting Standards  The FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition and industry-specific guidance in Subtopic 932-605, Extractive Activities – Oil and Gas – Revenue Recognition. This ASU provides guidance concerning the recognition and measurement of revenue from contracts with customers. Its objective is to increase the usefulness of information in the financial statements regarding the nature, timing and uncertainty of revenues. The effective date for ASU 2014-09 was delayed through the issuance of ASU 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date, to annual and interim periods beginning in 2018 , with early adoption permitted in 2017. The ASU is required to be adopted using either the retrospective transition method, which requires restating previously reported results or the cumulative effect (modified retrospective) transition method, which utilizes a cumulative-effort adjustment to retained earnings in the period of adoption to account for prior period effects rather than restating previously reported results. Devon intends to use the cumulative effect transition method and is evaluating the impact this ASU will have on its consolidated financial statements and related disclosures. Devon does not plan on early adopting. The FASB issued ASU 2016-02, Leases (Topic 842) . This ASU will supersede the lease requirements in Topic 840, Leases . Its objective is to increase transparency and comparability among organizations. This ASU provides guidance requiring lessees to recognize most leases on their balance sheet. Lessor accounting does not significantly change from Topic 840, except for some changes made to align with Topic 606. This ASU is effective for Devon beginning January 1, 2019 and will be applied using a modified retrospective transition method, which requires applying the new guidance to leases that exist or are entered into after the beginning of the earliest period in the financial statements. E arly adoption is permitted. Devon is evaluating the impact this ASU will have on its consolidated financial statements and related disclosures and does not plan on early adopting.  The FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . Its objective is to simplify several aspects of the accounting for share-based payments, including accounting for income taxes when awards vest or are settled, statutory withholding and accounting for forfeitures. Classification of these aspects on the statement of cash flows is also addressed. This ASU is effective for Devon beginning January 1, 2017. Devon is evaluating the impact this ASU will have on its consolidated financial statements and related disclosures and does not plan on early adopting. 

Acquisitions And Divestitures

Acquisitions And Divestitures	3 Months Ended
	Mar. 31, 2016
Acquisitions And Divestitures [Abstract]
Acquisitions And Divestitures	2. Acquisitions and Divestitures Devon Acquisition s  On January 7, 2016 , Devon acquired approximately 80,000 net acres and assets in the STACK play for approximately $1.5 billion, subject to certain adjustments. Devon funded the acquisition with approximately $830 million of cash and $659 million of common equity shares. A preliminary allocation of the purchase price at March 31, 2016 was approximately $1.3 billion to unproved properties an d approximately $200 million to proved properties. EnLink Acquisitions  On January 7, 2016 , EnLink acquired Anadarko Basin gathering and processing midstream assets, along with dedicated acreage service rights and service contracts, for approximately $1.5 billion, subject to certain adjustments. EnLink funded the acquisition with approximately $215 million of General Partner common units and approximately $800 million of cash, primarily funded with the issuance of EnLink preferred u nits . The remaining $500 million of the purchase price is to be paid within one year with the option to defer $250 million of the final payment 24 months from the close date . The first $250 million of un discounte d future installment payment is reported in other current liabilities in the accompanying consolidated balance sheets with the remaining $250 million payment reported in other long-term liabilities . Th e accretion of the discount is reported within net financing costs in the accompanying consolidated comprehensive statement of earnings. A preliminary allocation of the purchase price at March 31, 2016 was $1.0 billion to intangible assets and $420 million to property and equipment.  Devon Asset Divestitures  In February 2016, Devon announced a program to divest certain non-core assets. On April 15, 2016, Devon reached an agreement to sell its Mississippian assets for $200 million, subject to certain adjustments. The transaction is expected to close in the second quarter of 2016. 

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Financial Instruments [Abstract]
Derivative Financial Instruments	3 . Derivative Financial Instruments  Objectives and Strategies  Devon periodically enters into derivative financial instruments with respect to a portion of its oil, gas and NGL production to hedge future prices received. Additionally, Devon and EnLink periodically enter into derivative financial instruments with respect to a portion of their oil, gas and NGL marketing activities. These commodity derivative financial instruments include financial price swaps, basis swaps, costless price collars and call options. Devon periodically enters into interest rate swaps to manage its exposure to interest rate volatility and foreign exchange forward contracts to manage its exposure to fluctuations in the U.S. and Canadian dollar exchange rates.  Devon does not intend to hold or issue derivative financial instruments for speculative trading purposes and has elected not to designate any of its derivative instruments for hedge accounting treatment.  As of December 31, 2015, Devon’s other current assets in the accompanying consolidated balance sheet included $236 million of accrued settlements that it received in January 2016.  Counterparty Credit Risk By using derivative financial instruments, Devon is exposed to credit risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. To mitigate this risk, the hedging instruments are placed with a number of counterparties whom Devon believes are acceptable credit risks. It is Devon’s policy to enter into derivative contracts only with investment-grade rated counterparties deemed by management to be competent and competitive market makers. Additionally, Devon’s derivative contracts generally contain provisions that provide for collateral payments, if Devon or its counterparty’s credit rating falls below certain credit rating levels .  As of March 31 , 201 6 and December 31, 201 5 , Devon held $5 million and $75 million, respectively, of cash collateral which represented the estimated fair value of certain derivative positions in excess of Devon’s credit guidelines. The collateral is reported in other current liabilities in the accompanying consolidated balance sheets. Commodity Derivatives As of March 31 , 201 6 , Devon had the following open oil derivative positions. The first table presents Devon’s oil derivatives that settle against the average of the prompt month NYMEX WTI futures price. The second table presents Devon’s oil derivatives that settle against the respective indices noted within the table .    Price Swaps Price Collars Call Options Sold  Period Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Volume (Bbls/d) Weighted Average Price ($/Bbl)  Q2 2016 30,000 $ 39.24 73,000 $ 33.85 $ 41.59 18,500 $ 73.18  Q3 2016 - $ - 37,000 $ 40.05 $ 45.05 18,500 $ 73.18  Q4 2016 - $ - - $ - $ - 18,500 $ 73.18       Oil Basis Swaps  Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl)  Q2-Q4 2016 Western Canadian Select 37,985 $ (13.36)  Q2-Q4 2016 West Texas Sour 5,000 $ (0.53)  Q2-Q4 2016 Midland Sweet 13,000 $ 0.25  As of March 31 , 201 6 , Devon had the following open natural gas derivative positions. The first table presents Devon’s natural gas derivatives that settle against the Inside FERC first of the month Henry Hub index. The second table presents Devon’s natural gas derivatives that settle against the respective indices noted within the table .      Price Swaps Price Collars Call Options Sold  Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Floor Price ($/MMBtu) Weighted Average Ceiling Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Price ($/MMBtu)  Q2 2016 481,400 $ 2.73 4,945 $ 1.77 $ 2.02 400,000 $ 2.80  Q3 2016 - $ - - $ - $ - 400,000 $ 2.80  Q4 2016 - $ - - $ - $ - 400,000 $ 2.80     Natural Gas Basis Swaps  Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu)  Q2-Q4 2016 Panhandle Eastern Pipe Line 175,000 $ (0.34)  Q2-Q4 2016 El Paso Natural Gas 125,000 $ (0.12)  Q2-Q4 2016 Houston Ship Channel 30,000 $ 0.11  Q2-Q4 2016 Transco Zone 4 70,000 $ 0.01  Q1-Q4 2017 Panhandle Eastern Pipe Line 150,000 $ (0.34)  Q1-Q4 2017 El Paso Natural Gas 60,000 $ (0.13)  Q1-Q4 2017 Houston Ship Channel 35,000 $ 0.06  Q1-Q4 2017 Transco Zone 4 205,000 $ 0.03   As of March 31 , 201 6 , EnLink had the following open derivative positions associated with gas processing and fractionation. EnLink’s NGL derivative positions settle by purity product against the average of the prompt month OPIS Mont Belvieu, Texas index.   Period Product Volume (Total) Weighted Average Price Paid Weighted Average Price Received  Q2 2016-Q4 2016 Ethane 415 MBbls $ 0.29 /gal Index  Q2 2016-Q1 2017 Propane 744 MBbls Index $ 0.74 /gal  Interest Rate Derivatives As of March 31 , 201 6 , Devon had the following open interest rate derivative positions:     Notional Rate Received Rate Paid Expiration  (Millions)  $ 100 Three Month LIBOR 0.92% December 2016  $ 100 1.76% Three Month LIBOR January 2019  $ 750 Three Month LIBOR 2.98% December 2048 (1) ____________________________ (1) Mandatory settlement in December 2018 .  Foreign Currency Derivatives As of March 31 , 201 6 , Devon had the following open foreign currency derivative position:    Forward Contract  Currency Contract Type CAD Notional Weighted Average Fixed Rate Received Expiration  (Millions) (CAD-USD)  Canadian Dollar Sell $ 1,676 0.753 June 2016   Financial Statement Presentation The following table presents the net gains and losses by derivative financial instrument type followed by the corresponding individual consolidated comprehensive statements of earnings caption.     Three Months Ended March 31,  2016 2015   Commodity derivatives: (Millions)  Oil, gas and NGL derivatives $ 33 $ 294  Marketing and midstream revenues - 2  Interest rate derivatives:  Other nonoperating items (72) 1  Foreign currency derivatives:  Other nonoperating items (155) 133  Net gains (losses) recognized $ (194) $ 430   The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.    March 31, 2016 December 31, 2015   (Millions)  Commodity derivative assets:  Derivatives, at fair value $ 53 $ 34  Other long-term assets 1 1  Interest rate derivative assets:  Derivatives, at fair value 1 1  Other long-term assets 1 1  Foreign currency derivative assets:  Derivatives, at fair value - 8  Total derivative assets $ 56 $ 45   Commodity derivative liabilities:  Other current liabilities $ 26 $ 14  Other long-term liabilities 2 4  Interest rate derivative liabilities:  Other long-term liabilities 95 22  Foreign currency derivative liabilities:  Other current liabilities 26 8  Total derivative liabilities $ 149 $ 48 

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2016
Share-based Compensation [Abstract]
Share-Based Compensation	4 . Share-Based Compensation  The following table presents the effects of share-based compensation included in Devon’s accompanying consolidated comprehensive statements of earnings. G ross G&A expense for the first three months of 201 6 and 201 5 includes $6 million and $12 million, respectively, of unit-based compensation related to grants made under EnLink’s long-term incentive plans.  The vesting for certain share-based awards was accelerated in 201 6 in conjunction with the reduction of workforce described in Note 6 . For the three months ended March 31, 2016, approximately $67 million of associated expense for these accelerated awards is included in restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings.      Three Months Ended March 31,  2016 2015   (Millions)  Gross G&A for share-based compensation $ 45 $ 68  Share-based compensation expense capitalized pursuant to the  full cost method of accounting for oil and gas properties $ 12 $ 15  Related income tax benefit $ 9 $ 14   Under its approved long-term incentive plan , Devon granted share-based awards to certain employees in the first three months of 201 6 . The following table presents a summary of Devon’s unvested restricted stock awards and units, performance-based restricted stock awards and performance share units granted under the plan.        Restricted Stock Performance-Based Performance  Awards and Units Restricted Stock Awards Share Units  Awards and Units Weighted Average Grant-Date Fair Value Awards Weighted Average Grant-Date Fair Value Units Weighted Average Grant-Date Fair Value   (Thousands, except fair value data)  Unvested at 12/31/15 4,738 $ 62.49 434 $ 60.48 1,859 $ 76.17  Granted 4,261 $ 19.31 330 $ 19.22 1,388 $ 10.41  Vested (1,167) $ 62.55 (102) $ 62.55 (602) $ 63.37  Forfeited (74) $ 60.24 - $ - (7) $ 81.67  Unvested at 3/31/16 7,758 $ 38.79 662 $ 39.57 2,638 (1) $ 46.52 ____________________________ (1) A maximum of 5.3 million common shares could be awarded based upon Devon’s final TSR ranking relative to Devon’s peer group established under applicable award agreements.  The following table presents the assumptions related to the performance share units granted in 2016, as indicated in the previous summary table .    2016   Grant-date fair value $ 9.24 - $ 10.61  Risk-free interest rate 0.94%  Volatility factor 37.7%  Contractual term (years) 2.83  The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with unvested awards and units as of March 31, 2016.       Performance-Based  Restricted Stock Restricted Stock Performance  Awards and Units Awards Share Units  Unrecognized compensation cost (millions) $ 180 $ 10 $ 40  Weighted average period for recognition (years) 2.7 2.8 1.9  EnLink Share-Based Awards  The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with the General Partner’s and EnLink’s unvested restricted incentive units and performance units as of March 31, 2016.     General Partner EnLink  Restricted Performance Restricted Performance  Incentive Units Units Incentive Units Units  Unrecognized compensation cost (millions) $ 22 $ 5 $ 22 $ 5  Weighted average period for recognition (years) 1.9 2.2 1.9 2.2 

Asset Impairments

Asset Impairments	3 Months Ended
	Mar. 31, 2016
Asset Impairments [Abstract]
Asset Impairments	5 . Asset Impairments  The following table presents the asset impairments recognized by Devon in the first three months of 2016 and 2015, respectively.     Three Months Ended March 31,  2016 2015   (Millions)  U.S. oil and gas assets $ 1,608 $ 5,458  Canada oil and gas assets 554 -  EnLink goodwill 873 -  Other assets - 2  Total asset impairments $ 3,035 $ 5,460   Oil and Gas Impairments  Under the full cost method of accounting, capitalized costs of oil and gas properties, net of accumulated DD&A and deferred income taxes, may not exceed the full cost “ceiling” at the end of each quarter. The ceiling is calculated separately for each country and is based on the present value of estimated future net cash flows from proved oil and gas reserves, discounted at 10 % per annum, net of related tax effects. Estimated future net cash flows are calculated using end-of-period costs and an unweighted arithmetic average of commodity prices in effect on the first day of each of the previous 12 months.  The oil and gas impairments resulted from decline s in the U.S. and Canada full cost ceiling s . The lower ceiling value s resulted primarily from significant decreases in the 12-month average trailing prices for oil, bitumen, gas and NGLs, which significantly reduced proved reserve s values and, to a lesser degree, proved reserves . EnLink Goodwill Impairment s  I n the first quarter of 201 6, Devon recognized goodwill impairments related to EnLink’s business. Additional information regarding the impairments is discussed in Note 13.

Restructuring And Transaction C

Restructuring And Transaction Costs	3 Months Ended
	Mar. 31, 2016
Restructuring And Transaction Costs [Abstract]
Restructuring And Transaction Costs	6 . Restructuring and Transaction Costs  Reduction in Workforce  In the first quarter of 2016, Devon recognized $234 million of employee-related costs associated with a reduction in workforce that was made in response to the depressed commodity price environment. Of these employee-related costs, approximately $67 million resulted from accelerated vesting of share-based grants, which are noncash charges. Additionally, approximately $30 million resulted from estimated defined benefit settlements . These cash and noncash charges included estimates for employees released from service in the first quarter of 2016, as well as amounts based on the number of employees expected to be impacted by our non-core asset divestitures. Devon expects to complete these divestitures in 2016.  Transaction Costs  In the first quarter of 2016, Devon and EnLink recognized $13 million of transaction costs primarily associated with the closing of the acquisitions discussed in Note 2.   Financial Statement Presentation  The following table summarizes Devon’s restructuring liabilities.     Other Other  Current Long-term  Liabilities Liabilities Total   (Millions)  Balance as of December 31, 2015 $ 13 $ 63 $ 76  Changes due to 2016 workforce reductions 149 - 149  Changes related to prior years’ restructurings 2 (2) -  Balance as of March 31, 2016 $ 164 $ 61 $ 225   Balance as of December 31, 2014 $ 13 $ 7 $ 20  Changes related to prior years’ restructurings (1) (1) (2)  Balance as of March 31, 2015 $ 12 $ 6 $ 18  

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Income Taxes	7 . Income Taxes  The following table presents Devon’s total income tax benefit and a reconciliation of its effective income tax rate to the U.S. statutory income tax rate.     Three Months Ended March 31,  2016 2015   Total income tax benefit (millions) $ (217) $ (2,035)   U.S. statutory income tax rate (35%) (35%)  Deferred tax asset valuation allowance 22% 0%  Non-deductible goodwill impairment 8% 0%  Taxation on Canadian operations 2% 0%  State income taxes (1%) (1%)  Other (2%) 0%  Effective income tax rate (6%) (36%)  Devon estimates its annual effective income tax rate in recording its quarterly provision for income taxes in the various jurisdictions in which it operates. Statutory tax rate changes and other significant or unusual items are recognized as discrete items in the quarter in which they occur.  At December 31, 2015, Devon recorded a 100% valuation, or $967 million, allowance against the U.S. deferred tax assets that largely resulted from the full cost impairments recognized during 2015. In the first quarter of 2016, Devon provided an additional $808 million deferred tax valuation allowance to reflect its continued financial losses incurred largely by the additional full cost impairment.  In the first quarter of 2016, EnLink recorded a goodwill impairment of approximately $873 million. This impairment is not deductible for purposes of calculating income tax and therefore has an impact on the effective tax rate.  Devon and its subsidiaries are subject to U.S. federal income tax as well as income or capital taxes in various state and foreign jurisdictions. Devon’s tax reserves are related to tax years that may be subject to examination by the relevant taxing authority. Devon is under audit in the U.S. and various foreign jurisdictions as part of its normal course of business.

Net Loss Per Share Attributable

Net Loss Per Share Attributable To Devon	3 Months Ended
	Mar. 31, 2016
Earnings Per Share Disclosure [Abstract]
Net Loss Per Share Attributable To Devon	8 . Net Loss Per Share Attributable to Devon  The following table reconciles net loss attributable to Devon and weighted-average common shares outstanding used in the calculations of basic and diluted net loss per share.    Three Months Ended  March 31,  2016 2015   (Millions, except per share amounts)  Net loss:  Net loss attributable to Devon $ (3,056) $ (3,599)  Attributable to participating securities - (1)  Basic and diluted loss $ (3,056) $ (3,600)  Common shares:  Common shares outstanding - total 479 410  Attributable to participating securities (5) (4)  Common shares outstanding - basic 474 406  Dilutive effect of potential common shares issuable - -  Common shares outstanding - diluted 474 406   Net loss per share attributable to Devon:  Basic $ (6.44) $ (8.88)  Diluted $ (6.44) $ (8.88)  Antidilutive options (1) 3 4 ____________________________ (1) Amounts represent options to purchase shares of Devon’s common stock that are excluded from the diluted net loss per share calculations because the options are antidilutive.

Other Comprehensive Earnings

Other Comprehensive Earnings	3 Months Ended
	Mar. 31, 2016
Other Comprehensive Earnings [Abstract]
Other Comprehensive Earnings	9 . Other Comprehensive Earnings  Components of other comprehensive earnings consist of the following:     Three Months Ended March 31,  2016 2015   (Millions)  Foreign currency translation:  Beginning accumulated foreign currency translation $ 424 $ 983  Change in cumulative translation adjustment 51 (337)  Income tax benefit (expense) (28) 35  Ending accumulated foreign currency translation 447 681  Pension and postretirement benefit plans:  Beginning accumulated pension and postretirement benefits (194) (204)  Recognition of net actuarial loss and prior service cost in earnings (1) 6 6  Income tax expense (2) (2)  Ending accumulated pension and postretirement benefits (190) (200)  Accumulated other comprehensive earnings, net of tax $ 257 $ 481 __________________________ (1) These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of G&A on the accompanying consolidated comprehensive statements of earnings. See Note 1 6 for additional details .

Supplemental Information To Sta

Supplemental Information To Statements Of Cash Flows	3 Months Ended
	Mar. 31, 2016
Supplemental Information To Statements Of Cash Flows [Abstract]
Supplemental Information To Statements Of Cash Flows	10. Supplemental Information to Statements of Cash Flows   Three Months Ended March 31,  2016 2015   (Millions) Net change in working capital accounts, net of assets and liabilities assumed: Accounts receivable $ 146 $ 404 Other current assets 366 332 Accounts payable (121) (15) Revenues and royalties payable (101) (236) Other current liabilities (92) (270) Net change in working capital $ 198 $ 215  Interest paid (net of capitalized interest) $ 115 $ 118 Income taxes paid (received) $ (128) $ (414)  Devon’s acquisition of certain STACK assets during the first three months of 2016 included the noncash issuance of Devon common stock. See Note 2 for additional details.  EnLink’s acquisition of Anadarko Basin gathering and processing midstream assets during the first quarter of 2016 included noncash issuance of General Partner common units. See Note 2 for additional details. During the first three months of 2015, EnLink’s acquisitions included $360 million of noncash equity issuance.

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2016
Accounts Receivable [Abstract]
Accounts Receivable	11. Accounts Receivable C omponents of accounts receivable include the following:     March 31, 2016 December 31, 2015   (Millions)  Oil, gas and NGL sales $ 350 $ 362  Joint interest billings 152 211  Marketing and midstream revenues 477 520  Other 62 30  Gross accounts receivable 1,041 1,123  Allowance for doubtful accounts (18) (18)  Net accounts receivable $ 1,023 $ 1,105

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2016
Other Current Liabilities [Abstract]
Other Current Liabilities	1 2 . Other Current Liabilities  C omponents of other current liabilities include the following:   March 31, 2016 December 31, 2015   (Millions)   Installment payment - see Note 2 $ 229 $ -  Accrued interest payable 179 149  Restructuring liabilities 164 13  Other 333 488  Other current liabilities $ 905 $ 650 

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	3 Months Ended
	Mar. 31, 2016
Goodwill And Other Intangible Assets [Abstract]
Goodwill And Other Intangible Assets	1 3 . Goodwill and Other Intangible Assets Goodwill  Devon performs an annual impairment test of goodwill at October 31, or more frequently if events or changes in circumstances indicate that the carrying value of a reporting unit may not be recoverable. Sustained weakness in the overall energy sector driven by low commodity prices, together with a decline in EnLink’s unit price, caused a change in circumstances warranting an interim impairment test of EnLink’s reporting units. In the first quarter of 2016, EnLink recorded a noncash goodwill impairment of $873 million. This consisted of a full impairment charge of $93 million related to its Crude and Condensate reporting unit and partial impairment to its Texas and General Partner reporting units of $473 million and $307 million, respectively.  Other Intangible Assets  The following table presents other intangible assets reported in other long-term assets in the accompanying consolidated balance sheets. See Note 2 for discussion of changes in other intangible assets resulting from EnLink acquisitions during the first three months of 2016.     March 31, 2016 December 31, 2015   (Millions)   Customer relationships $ 1,779 $ 745  Accumulated amortization (82) (55)  Net intangibles $ 1,697 $ 690     The weighted-average amortization period for other intangible assets is 14 years. Amortization expense for intangibles was approximately $28 million and $12 million for the three months ended March 31, 2016 and 2015, respectively. The remaining aggregate amortization expense is estimated to be $115 million each of the next five years.

Debt

Debt	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Debt	1 4 . Debt  A summary of debt is as follows:     March 31, 2016 December 31, 2015   (Millions)  Devon debt  Commercial paper $ - $ 626  Debentures and notes 9,425 9,425  Net discount on debentures and notes (28) (28)  Debt issuance costs (56) (57)  Total Devon debt 9,341 9,966  EnLink debt  Credit facilities 552 414  Debentures and notes 2,663 2,663  Net premium on debentures and notes 12 13  Debt issuance costs (23) (24)  Total EnLink debt 3,204 3,066  Total debt 12,545 13,032  Less amount classified as short-term debt (1) 350 976  Total long-term debt $ 12,195 $ 12,056 ____________________________ (1) Short-term debt as of March 31, 2016 consists of $350 million of floating rate due on December 15, 2016. Short-term debt as of December 31, 2015 consists of $626 million of commercial paper and $350 million floating rate due on December 15, 2016.  As of January 1, 2016, Devon adopted ASU 2015-03, Interest – Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs. This ASU requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability rather than as an asset. As a result of the adoption , Devon reclassified unamortized debt issuance costs of $81 million as of December 31, 2015 from o ther l ong-term a ssets to a reduction of l ong-term d ebt on the consolidated balance sheets.  Commercial Paper  During the three months ended March 31, 2016, Devon reduced commercial paper borrowings by $626 million. As of March 31, 2016, Devon had no outstanding commercial paper borrowings . Credit Lines Devon has a $3.0 billion Senior Credit Facility. As of March 31, 2016, there were $43 million in outstanding letters of credit and no borrowings under the Senior Credit Facility. The Senior Credit Facility contains only one material financial covenant. This covenant requires Devon’s ratio of total funded debt to total capitalization, as defined in the credit agreement, to be no greater than 65 % . Under the terms of the credit agreement, total capitalization is adjusted to add back noncash financial write-downs such as full cost ceiling impairments or goodwill impairments. As of March 31, 2016 , Devon was in compliance with this covenant with a debt-to-capitalization ratio of 22.6 % .  EnLink Debt  All of EnLink’s and the General Partner’s debt is non-recourse to Devon.  EnLink has a $1.5 billion unsecured revolving credit facility. As of March 31, 2016 , there were $11 million in outstanding letters of credit and $543 million in outstanding borrowings at an average rate of 2.23 % under the $1.5 billion credit facility . The General Partner has a $250 million secured revolving credit facility. As of March 31, 2016 , the General Partner had $9 million in o utstanding borrowings at an average rate of 4.25% . EnLink and the General Partner were in compliance with all financial covenants in their respective credit facilities as of March 31, 2016 .

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2016
Asset Retirement Obligations [Abstract]
Asset Retirement Obligations	1 5 . Asset Retirement Obligations The following table presents the changes in Devon’ s asset retirement obligations.      Three Months Ended March 31,  2016 2015   (Millions)  Asset retirement obligations as of beginning of period $ 1,414 $ 1,399  Liabilities incurred and assumed through acquisitions 12 23  Liabilities settled and divested (17) (25)  Revision of estimated obligation 77 62  Accretion expense on discounted obligation 19 19  Foreign currency translation adjustment 29 (53)  Asset retirement obligations as of end of period 1,534 1,425  Less current portion 43 52  Asset retirement obligations, long-term $ 1,491 $ 1,373

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 31, 2016
Retirement Plans [Abstract]
Retirement Plans	1 6 . Retirement Plans  The following table presents the components of net periodic benefit cost for Devon’s pension benefit plans. There was no net periodic benefit cost for postretirement benefit plans for all periods presented below.     Pension Benefits  Three Months Ended  March 31,  2016 2015   (Millions)  Service cost $ 6 $ 8  Interest cost 12 13  Expected return on plan assets (13) (15)  Amortization of prior service cost (1) 1 1  Net actuarial loss (1) 5 5  Net periodic benefit cost (2) $ 11 $ 12 __________________________ (1) These net periodic benefit costs were reclassified out of other comprehensive earnings in the current period. (2) Net periodic benefit cost is a component of G&A in the accompanying consolidated comprehensive statements of earnings .

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Stockholders' Equity [Abstract]
Stockholders' Equity	1 7 . Stockholders’ Equity  Common Stock Issued In January 2016, Devon issued approximately 23 million shares of common stock in conjunction with the STACK asset acquisition discussed in Note 2.  In February 2016, Devon issued 79 million shares of common stock to the public, inclusive of 10 million shares sold as part of the underwriters’ option. Net proceeds from the offering were $1.5 billion.  Dividends Devon paid common stock dividends of $125 million and $99 million in the first three months of 201 6 and 201 5 , respectively. In the first quarter of 2016, Devon announced a decrease in the quarterly cash dividend rate from $0.24 per share to $0.06 per share beginning in the second quarter of 201 6 . 

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interests [Abstract]
Noncontrolling interests	1 8 . Noncontrolling Interests  Subsidiary Equity Transactions  As a result of EnLink’s transactions discussed in Note 2 , Devon’s ownership interest in EnLink decreased from 28% at December 31, 201 5 to 25% at March 31 , 201 6, excluding the interest held by the General Partner. Additionally, Devon’s ownership in the General Partner decreased from 70% to 64% during the same time period as a result of the transaction discussed in Note 2. The net gains and losses and related income taxes resulting from these transactions have been recorded as an adjustment to equity, with the change in ownership reflected as an adjustment to noncontrolling interests.  I n March 2015, Devon conducted an underwritten secondary public offering of 23 million common units representing limited partner interests in EnLink, raising net proceeds of $569 million.  Distributions to N onco ntrolling I nterests  EnLink and the General Partner distributed $73 million and $53 million to non-Devon unitholders during the first three months of 201 6 and 201 5 , respectively. 

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments And Contingencies [Abstract]
Commitments And Contingencies	1 9 . Commitments and Contingencies Devon is party to various legal actions arising in the normal course of business. Matters that are probable of unfavorable outcome to Devon and which can be reasonably estimated are accrued. Such accruals are based on information known about the matters, Devon’s estimates of the outcomes of such matters and its experience in contesting, litigating and settling similar matters. None of the actions are believed by management to involve future amounts that would be material to Devon’s financial position or results of operations after consideration of recorded accruals. Actual amounts could differ materially from management’s estimates. Royalty Matters Numerous oil and natural gas producers and related parties, including Devon, have been named in various lawsuits alleging royalty underpayments. The suits allege that the producers and related parties used below-market prices, made improper deductions, used improper measurement techniques and entered into gas purchase and processing arrangements with affiliates that resulted in underpayment of royalties in connection with oil, natural gas and NGLs produced and sold. Devon is also involved in governmental agency proceedings and is subject to related contracts and regulatory controls in the ordinary course of business, some that may lead to additional royalty claims. Devon does not currently believe that it is subject to material exposure with respect to such royalty matters. Environmental Matters Devon is subject to certain laws and regulations relating to environmental remediation activities associated with past operations, such as the Comprehensive Environmental Response, Compensation, and Liability Act and similar state statutes. In response to liabilities associated with these activities, loss accruals primarily consist of estimated uninsured remediation costs. Devon’s monetary exposure for environmental matters is not expected to be material. Other Matters Devon is involved in other various routine legal proceedings incidental to its business. However, to Devon’s knowledge, there were no other material pending legal proceedings to which Devon is a party or to which any of its property is subject.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Fair Value Measurements	20 . Fair Value Measurements The following table provide s carrying value and fair value measurement information for certain of Devon’s financial assets and liabilities. The carrying values of cash, accounts receivable, other current receivables, accounts payable, other current payables and accrued expenses included in the accompanying consolidated balance sheets approximated fair value at March 31 , 201 6 and December 31, 201 5 . Therefore, such financial assets and liabilities are not pre sented in the following table. Additionally, information regarding the fair values of oil and gas assets, goodwill and other intangible assets is provided in Note 5 and Note 13.     Fair Value Measurements Using:  Carrying Total Fair Level 1 Level 2 Level 3  Amount Value Inputs Inputs Inputs   (Millions)  March 31, 2016 assets (liabilities):  Cash equivalents $ 1,121 $ 1,121 $ 1,026 $ 95 $ -  Commodity derivatives $ 54 $ 54 $ - $ 54 $ -  Commodity derivatives $ (28) $ (28) $ - $ (28) $ -  Interest rate derivatives $ 2 $ 2 $ - $ 2 $ -  Interest rate derivatives $ (95) $ (95) $ - $ (95) $ -  Foreign currency derivatives $ (26) $ (26) $ - $ (26) $ -  Debt $ (12,545) $ (11,217) $ - $ (11,217) $ -  Capital lease obligations $ (13) $ (13) $ - $ (13) $ -   December 31, 2015 assets (liabilities):  Cash equivalents $ 1,871 $ 1,871 $ 1,471 $ 400 $ -  Commodity derivatives $ 35 $ 35 $ - $ 35 $ -  Commodity derivatives $ (18) $ (18) $ - $ (18) $ -  Interest rate derivatives $ 2 $ 2 $ - $ 2 $ -  Interest rate derivatives $ (22) $ (22) $ - $ (22) $ -  Foreign currency derivatives $ 8 $ 8 $ - $ 8 $ -  Foreign currency derivatives $ (8) $ (8) $ - $ (8) $ -  Debt $ (13,032) $ (11,927) $ - $ (11,927) $ -  Capital lease obligations $ (17) $ (16) $ - $ (16) $ - The following methods and assumptions were used to estima te the fair values in the table above.  Level 1 Fair Value Measurements Cash equivalents — Amounts consist primarily of money market investments. The fair value approximates the carrying value. Level 2 Fair Value Measurements Cash equivalents — Amounts consist primarily of commercial paper and Canadian agency and provincial securities investments. The fair value approximates the carrying value. Commodity, interest rate and foreign currency derivatives — The fair values of commodity, interest rate and foreign currency derivatives are estimated using internal discounted cash flow calculations based upon forward curves and data obtained from independent third parties for contracts with similar terms or data obtained from counterparties to the agreements. Debt — Devon’s debt instruments do not actively trade in an established market. The fair values of its debt are estimated based on rates available for debt with similar terms and maturity. The fair value s of commercial paper and credit facility balances are the carrying value s .  Capital lease obligations — The fair value was calculated using inputs from third-party banks.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Information [Abstract]
Segment Information	2 1 . Segment Information Devon manages its operations through distinct operating segments, which are defined primarily by geographic areas. For financial reporting purposes, Devon aggregates its U.S. operating segments into one reporting segment due to the similar nature of the businesses. However, Devon’s Canadian exploration and production operating segment is reported as a separate reporting segment primarily due to the significant differences between the U.S. and Canadian regulatory environments. Devon’s U.S. and Canadian segments are both primarily engaged in oil and gas exploration and production activities.  Devon considers EnLink, combined with the General Partner, to be an operating segment that is distinct from the U.S. and Canadian operating segments. EnLink’s operations consist of midstream assets and operations located across the U.S. Additionally, EnLink has a management team that is primarily responsible for capital and resource allocation decisions. Therefore, EnLink is presented as a separate reporting segment.     U.S. Canada EnLink Eliminations Total   (Millions)  Three Months Ended March 31, 2016:  Revenues from external customers $ 1,302 $ 117 $ 707 $ - $ 2,126  Intersegment revenues $ - $ - $ 183 $ (183) $ -  Depreciation, depletion and amortization $ 311 $ 109 $ 122 $ - $ 542  Interest expense $ 107 $ 34 $ 44 $ (20) $ 165  Asset impairments $ 1,608 $ 554 $ 873 $ - $ 3,035  Restructuring and transaction costs $ 236 $ 6 $ 5 $ - $ 247  Loss before income taxes $ (2,065) $ (749) $ (871) $ - $ (3,685)  Income tax benefit $ (5) $ (208) $ (4) $ - $ (217)  Net loss $ (2,060) $ (541) $ (867) $ - $ (3,468)  Net loss attributable to noncontrolling interests $ - $ - $ (412) $ - $ (412)  Net loss attributable to Devon $ (2,060) $ (541) $ (455) $ - $ (3,056)  Property and equipment, net $ 8,901 $ 4,246 $ 6,117 $ - $ 19,264  Total assets $ 13,717 $ 4,933 $ 10,066 $ (79) $ 28,637  Capital expenditures, including acquisitions $ 1,893 $ 81 $ 545 $ - $ 2,519   Three Months Ended March 31, 2015:  Revenues from external customers $ 2,260 $ 221 $ 784 $ - $ 3,265  Intersegment revenues $ - $ - $ 156 $ (156) $ -  Depreciation, depletion and amortization $ 712 $ 127 $ 91 $ - $ 930  Interest expense $ 87 $ 25 $ 19 $ (12) $ 119  Asset impairments $ 5,460 $ - $ - $ - $ 5,460  Earnings (loss) before income taxes $ (5,488) $ (172) $ 36 $ - $ (5,624)  Income tax expense (benefit) $ (1,993) $ (53) $ 11 $ - $ (2,035)  Net earnings (loss) $ (3,495) $ (119) $ 25 $ - $ (3,589)  Net earnings attributable to noncontrolling interests $ - $ - $ 10 $ - $ 10  Net earnings (loss) attributable to Devon $ (3,495) $ (119) $ 15 $ - $ (3,599)  Property and equipment, net $ 19,718 $ 6,281 $ 5,456 $ - $ 31,455  Total assets $ 26,751 $ 7,618 $ 11,007 $ (102) $ 45,274  Capital expenditures, including acquisitions $ 1,344 $ 224 $ 514 $ - $ 2,082  

Summary Of Significant Accoun28

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
Commitments And Contingencies	Devon is party to various legal actions arising in the normal course of business. Matters that are probable of unfavorable outcome to Devon and which can be reasonably estimated are accrued. Such accruals are based on information known about the matters, Devon’s estimates of the outcomes of such matters and its experience in contesting, litigating and settling similar matters. None of the actions are believed by management to involve future amounts that would be material to Devon’s financial position or results of operations after consideration of recorded accruals. Actual amounts could differ materially from management’s estimates.
Recently Issued Accounting Standards	Recently Issued Accounting Standards  The FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) . This ASU will supersede the revenue recognition requirements in Topic 605, Revenue Recognition and industry-specific guidance in Subtopic 932-605, Extractive Activities – Oil and Gas – Revenue Recognition. This ASU provides guidance concerning the recognition and measurement of revenue from contracts with customers. Its objective is to increase the usefulness of information in the financial statements regarding the nature, timing and uncertainty of revenues. The effective date for ASU 2014-09 was delayed through the issuance of ASU 2015-14, Revenue from Contracts with Customers – Deferral of the Effective Date, to annual and interim periods beginning in 2018, with early adoption permitted in 2017. The ASU is required to be adopted using either the retrospective transition method, which requires restating previously reported results or the cumulative effect (modified retrospective) transition method, which utilizes a cumulative-effort adjustment to retained earnings in the period of adoption to account for prior period effects rather than restating previously reported results. Devon intends to use the cumulative effect transition method and is evaluating the impact this ASU will have on its consolidated financial statements and related disclosures. Devon does not plan on early adopting. The FASB issued ASU 2016-02, Leases (Topic 842) . This ASU will supersede the lease requirements in Topic 840, Leases . Its objective is to increase transparency and comparability among organizations. This ASU provides guidance requiring lessees to recognize most leases on their balance sheet. Lessor accounting does not significantly change from Topic 840, except for some changes made to align with Topic 606. This ASU is effective for Devon beginning January 1, 2019 and will be applied using a modified retrospective transition method, which requires applying the new guidance to leases that exist or are entered into after the beginning of the earliest period in the financial statements. Early adoption is permitted. Devon is evaluating the impact this ASU will have on its consolidated financial statements and related disclosures and does not plan on early adopting.  The FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting . Its objective is to simplify several aspects of the accounting for share-based payments, including accounting for income taxes when awards vest or are settled, statutory withholding and accounting for forfeitures. Classification of these aspects on the statement of cash flows is also addressed. This ASU is effective for Devon beginning January 1, 2017. Devon is evaluating the impact this ASU will have on its consolidated financial statements and related disclosures and does not plan on early adopting.   As of January 1, 2016, Devon adopted ASU 2015-03, Interest – Imputation of Interest (Topic 835): Simplifying the Presentation of Debt Issuance Costs. This ASU requires debt issuance costs related to a recognized debt liability to be presented on the balance sheet as a direct deduction from the carrying amount of that debt liability rather than as an asset. As a result of the adoption, Devon reclassified unamortized debt issuance costs of $81 million as of December 31, 2015 from other long-term assets to a reduction of long-term debt on the consolidated balance sheets. 

Commitment And Contingencies Po

Commitment And Contingencies Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Summary Of Significant Accounting Policies [Abstract]
Commitments And Contingencies	Devon is party to various legal actions arising in the normal course of business. Matters that are probable of unfavorable outcome to Devon and which can be reasonably estimated are accrued. Such accruals are based on information known about the matters, Devon’s estimates of the outcomes of such matters and its experience in contesting, litigating and settling similar matters. None of the actions are believed by management to involve future amounts that would be material to Devon’s financial position or results of operations after consideration of recorded accruals. Actual amounts could differ materially from management’s estimates.

Derivative Financial Instrume30

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative [Line Items]
Schedule Of Derivative Financial Instruments Included In Consolidated Comprehensive Statements Of 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 comprehensive statements of earnings caption.     Three Months Ended March 31,  2016 2015   Commodity derivatives: (Millions)  Oil, gas and NGL derivatives $ 33 $ 294  Marketing and midstream revenues - 2  Interest rate derivatives:  Other nonoperating items (72) 1  Foreign currency derivatives:  Other nonoperating items (155) 133  Net gains (losses) recognized $ (194) $ 430   The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.    March 31, 2016 December 31, 2015   (Millions)  Commodity derivative assets:  Derivatives, at fair value $ 53 $ 34  Other long-term assets 1 1  Interest rate derivative assets:  Derivatives, at fair value 1 1  Other long-term assets 1 1  Foreign currency derivative assets:  Derivatives, at fair value - 8  Total derivative assets $ 56 $ 45   Commodity derivative liabilities:  Other current liabilities $ 26 $ 14  Other long-term liabilities 2 4  Interest rate derivative liabilities:  Other long-term liabilities 95 22  Foreign currency derivative liabilities:  Other current liabilities 26 8  Total derivative liabilities $ 149 $ 48 
Open Oil Derivative Positions [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	   Price Swaps Price Collars Call Options Sold  Period Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Volume (Bbls/d) Weighted Average Price ($/Bbl)  Q2 2016 30,000 $ 39.24 73,000 $ 33.85 $ 41.59 18,500 $ 73.18  Q3 2016 - $ - 37,000 $ 40.05 $ 45.05 18,500 $ 73.18  Q4 2016 - $ - - $ - $ - 18,500 $ 73.18       Oil Basis Swaps  Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl)  Q2-Q4 2016 Western Canadian Select 37,985 $ (13.36)  Q2-Q4 2016 West Texas Sour 5,000 $ (0.53)  Q2-Q4 2016 Midland Sweet 13,000 $ 0.25 
Open Natural Gas Derivative Positions [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	    Price Swaps Price Collars Call Options Sold  Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Floor Price ($/MMBtu) Weighted Average Ceiling Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Price ($/MMBtu)  Q2 2016 481,400 $ 2.73 4,945 $ 1.77 $ 2.02 400,000 $ 2.80  Q3 2016 - $ - - $ - $ - 400,000 $ 2.80  Q4 2016 - $ - - $ - $ - 400,000 $ 2.80     Natural Gas Basis Swaps  Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu)  Q2-Q4 2016 Panhandle Eastern Pipe Line 175,000 $ (0.34)  Q2-Q4 2016 El Paso Natural Gas 125,000 $ (0.12)  Q2-Q4 2016 Houston Ship Channel 30,000 $ 0.11  Q2-Q4 2016 Transco Zone 4 70,000 $ 0.01  Q1-Q4 2017 Panhandle Eastern Pipe Line 150,000 $ (0.34)  Q1-Q4 2017 El Paso Natural Gas 60,000 $ (0.13)  Q1-Q4 2017 Houston Ship Channel 35,000 $ 0.06  Q1-Q4 2017 Transco Zone 4 205,000 $ 0.03 
Gas Processing And Fractionation Open Positions [Member] | EnLink [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	  Period Product Volume (Total) Weighted Average Price Paid Weighted Average Price Received  Q2 2016-Q4 2016 Ethane 415 MBbls $ 0.29 /gal Index  Q2 2016-Q1 2017 Propane 744 MBbls Index $ 0.74 /gal 
Interest Rate Derivatives [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	    Notional Rate Received Rate Paid Expiration  (Millions)  $ 100 Three Month LIBOR 0.92% December 2016  $ 100 1.76% Three Month LIBOR January 2019  $ 750 Three Month LIBOR 2.98% December 2048 (1) ____________________________ (1) Mandatory settlement in December 2018 .
Foreign Currency Derivatives [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	   Forward Contract  Currency Contract Type CAD Notional Weighted Average Fixed Rate Received Expiration  (Millions) (CAD-USD)  Canadian Dollar Sell $ 1,676 0.753 June 2016 

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2016
Schedule Of The Effects Of Share-Based Compensation Included In The Consolidated Comprehensive Statements Of Earnings	   Three Months Ended March 31,  2016 2015   (Millions)  Gross G&A for share-based compensation $ 45 $ 68  Share-based compensation expense capitalized pursuant to the  full cost method of accounting for oil and gas properties $ 12 $ 15  Related income tax benefit $ 9 $ 14 
Summary Of Unvested Restricted Stock Awards and Units, Performance-Based Restricted Stock Awards And Performance Share Units	  Restricted Stock Performance-Based Performance  Awards and Units Restricted Stock Awards Share Units  Awards and Units Weighted Average Grant-Date Fair Value Awards Weighted Average Grant-Date Fair Value Units Weighted Average Grant-Date Fair Value   (Thousands, except fair value data)  Unvested at 12/31/15 4,738 $ 62.49 434 $ 60.48 1,859 $ 76.17  Granted 4,261 $ 19.31 330 $ 19.22 1,388 $ 10.41  Vested (1,167) $ 62.55 (102) $ 62.55 (602) $ 63.37  Forfeited (74) $ 60.24 - $ - (7) $ 81.67  Unvested at 3/31/16 7,758 $ 38.79 662 $ 39.57 2,638 (1) $ 46.52 ____________________________ (1) A maximum of 5.3 million common shares could be awarded based upon Devon’s final TSR ranking relative to Devon’s peer group established under applicable award agreements.
Summary Of Performance Share Units Grant-Date Fair Values And Their Related Assumptions	  2016   Grant-date fair value $ 9.24 - $ 10.61  Risk-free interest rate 0.94%  Volatility factor 37.7%  Contractual term (years) 2.83 
Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition	  Performance-Based  Restricted Stock Restricted Stock Performance  Awards and Units Awards Share Units  Unrecognized compensation cost (millions) $ 180 $ 10 $ 40  Weighted average period for recognition (years) 2.7 2.8 1.9 
General Partner And EnLink [Member]
Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition	  General Partner EnLink  Restricted Performance Restricted Performance  Incentive Units Units Incentive Units Units  Unrecognized compensation cost (millions) $ 22 $ 5 $ 22 $ 5  Weighted average period for recognition (years) 1.9 2.2 1.9 2.2 

Asset Impairments (Tables)

Asset Impairments (Tables)	3 Months Ended
	Mar. 31, 2016
Asset Impairments [Abstract]
Schedule Of Asset Impairments	   Three Months Ended March 31,  2016 2015   (Millions)  U.S. oil and gas assets $ 1,608 $ 5,458  Canada oil and gas assets 554 -  EnLink goodwill 873 -  Other assets - 2  Total asset impairments $ 3,035 $ 5,460 

Restructuring And Transaction33

Restructuring And Transaction Costs (Tables)	3 Months Ended
	Mar. 31, 2016
Restructuring And Transaction Costs [Abstract]
Schedule Of The Activity And Balances Associated With Restructuring Liabilities	  Other Other  Current Long-term  Liabilities Liabilities Total   (Millions)  Balance as of December 31, 2015 $ 13 $ 63 $ 76  Changes due to 2016 workforce reductions 149 - 149  Changes related to prior years’ restructurings 2 (2) -  Balance as of March 31, 2016 $ 164 $ 61 $ 225   Balance as of December 31, 2014 $ 13 $ 7 $ 20  Changes related to prior years’ restructurings (1) (1) (2)  Balance as of March 31, 2015 $ 12 $ 6 $ 18  

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2016
Income Taxes [Abstract]
Schedule Of Effective Income Tax Rate Reconciliation	   Three Months Ended March 31,  2016 2015   Total income tax benefit (millions) $ (217) $ (2,035)   U.S. statutory income tax rate (35%) (35%)  Deferred tax asset valuation allowance 22% 0%  Non-deductible goodwill impairment 8% 0%  Taxation on Canadian operations 2% 0%  State income taxes (1%) (1%)  Other (2%) 0%  Effective income tax rate (6%) (36%) 

Net Loss Per Share Attributab35

Net Loss Per Share Attributable To Devon (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share Disclosure [Abstract]
Net Earnings (Loss) Per Share Computations	  Three Months Ended  March 31,  2016 2015   (Millions, except per share amounts)  Net loss:  Net loss attributable to Devon $ (3,056) $ (3,599)  Attributable to participating securities - (1)  Basic and diluted loss $ (3,056) $ (3,600)  Common shares:  Common shares outstanding - total 479 410  Attributable to participating securities (5) (4)  Common shares outstanding - basic 474 406  Dilutive effect of potential common shares issuable - -  Common shares outstanding - diluted 474 406   Net loss per share attributable to Devon:  Basic $ (6.44) $ (8.88)  Diluted $ (6.44) $ (8.88)  Antidilutive options (1) 3 4 ____________________________ (1) Amounts represent options to purchase shares of Devon’s common stock that are excluded from the diluted net loss per share calculations because the options are antidilutive.

Other Comprehensive Earnings (T

Other Comprehensive Earnings (Tables)	3 Months Ended
	Mar. 31, 2016
Other Comprehensive Earnings [Abstract]
Components Of Other Comprehensive Earnings	   Three Months Ended March 31,  2016 2015   (Millions)  Foreign currency translation:  Beginning accumulated foreign currency translation $ 424 $ 983  Change in cumulative translation adjustment 51 (337)  Income tax benefit (expense) (28) 35  Ending accumulated foreign currency translation 447 681  Pension and postretirement benefit plans:  Beginning accumulated pension and postretirement benefits (194) (204)  Recognition of net actuarial loss and prior service cost in earnings (1) 6 6  Income tax expense (2) (2)  Ending accumulated pension and postretirement benefits (190) (200)  Accumulated other comprehensive earnings, net of tax $ 257 $ 481 __________________________ (1) These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of G&A on the accompanying consolidated comprehensive statements of earnings. See Note 1 6 for additional details.

Supplemental Information To S37

Supplemental Information To Statements Of Cash Flows (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Information To Statements Of Cash Flows [Abstract]
Schedule Of Supplemental Information To Statements Of Cash Flows	   Three Months Ended March 31,  2016 2015   (Millions)  Net change in working capital accounts, net of assets and liabilities assumed:  Accounts receivable $ 146 $ 404  Other current assets 366 332  Accounts payable (121) (15)  Revenues and royalties payable (101) (236)  Other current liabilities (92) (270)  Net change in working capital $ 198 $ 215   Interest paid (net of capitalized interest) $ 115 $ 118  Income taxes paid (received) $ (128) $ (414) 

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2016
Accounts Receivable [Abstract]
Schedule Of Components Of Accounts Receivable	   March 31, 2016 December 31, 2015   (Millions)  Oil, gas and NGL sales $ 350 $ 362  Joint interest billings 152 211  Marketing and midstream revenues 477 520  Other 62 30  Gross accounts receivable 1,041 1,123  Allowance for doubtful accounts (18) (18)  Net accounts receivable $ 1,023 $ 1,105 

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Other Current Liabilities [Abstract]
Schedule Of Other Current Liabilities	  March 31, 2016 December 31, 2015   (Millions)   Installment payment - see Note 2 $ 229 $ -  Accrued interest payable 179 149  Restructuring liabilities 164 13  Other 333 488  Other current liabilities $ 905 $ 650 

Goodwill And Other Intangible40

Goodwill And Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Goodwill And Other Intangible Assets [Abstract]
Schedule Of Other Intangible Assets	  March 31, 2016 December 31, 2015   (Millions)   Customer relationships $ 1,779 $ 745  Accumulated amortization (82) (55)  Net intangibles $ 1,697 $ 690 

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2016
Debt [Abstract]
Schedule Of Debt Instruments	   March 31, 2016 December 31, 2015   (Millions)  Devon debt  Commercial paper $ - $ 626  Debentures and notes 9,425 9,425  Net discount on debentures and notes (28) (28)  Debt issuance costs (56) (57)  Total Devon debt 9,341 9,966  EnLink debt  Credit facilities 552 414  Debentures and notes 2,663 2,663  Net premium on debentures and notes 12 13  Debt issuance costs (23) (24)  Total EnLink debt 3,204 3,066  Total debt 12,545 13,032  Less amount classified as short-term debt (1) 350 976  Total long-term debt $ 12,195 $ 12,056 ____________________________ (1) Short-term debt as of March 31, 2016 consists of $350 million of floating rate due on December 15, 2016. Short-term debt as of December 31, 2015 consists of $626 million of commercial paper and $350 million floating rate due on December 15, 2016.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
Asset Retirement Obligations [Abstract]
Summary Of Changes In Asset Retirement Obligations	   Three Months Ended March 31,  2016 2015   (Millions)  Asset retirement obligations as of beginning of period $ 1,414 $ 1,399  Liabilities incurred and assumed through acquisitions 12 23  Liabilities settled and divested (17) (25)  Revision of estimated obligation 77 62  Accretion expense on discounted obligation 19 19  Foreign currency translation adjustment 29 (53)  Asset retirement obligations as of end of period 1,534 1,425  Less current portion 43 52  Asset retirement obligations, long-term $ 1,491 $ 1,373 

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Retirement Plans [Abstract]
Schedule Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans	   Pension Benefits  Three Months Ended  March 31,  2016 2015   (Millions)  Service cost $ 6 $ 8  Interest cost 12 13  Expected return on plan assets (13) (15)  Amortization of prior service cost (1) 1 1  Net actuarial loss (1) 5 5  Net periodic benefit cost (2) $ 11 $ 12 __________________________ (1) These net periodic benefit costs were reclassified out of other comprehensive earnings in the current period. (2) Net periodic benefit cost is a component of G&A in the accompanying consolidated comprehensive statements of earnings .

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Measurements [Abstract]
Schedule Of Carrying Value And Fair Value Measurement Information For Financial Assets And Liabilities	  Fair Value Measurements Using:  Carrying Total Fair Level 1 Level 2 Level 3  Amount Value Inputs Inputs Inputs   (Millions)  March 31, 2016 assets (liabilities):  Cash equivalents $ 1,121 $ 1,121 $ 1,026 $ 95 $ -  Commodity derivatives $ 54 $ 54 $ - $ 54 $ -  Commodity derivatives $ (28) $ (28) $ - $ (28) $ -  Interest rate derivatives $ 2 $ 2 $ - $ 2 $ -  Interest rate derivatives $ (95) $ (95) $ - $ (95) $ -  Foreign currency derivatives $ (26) $ (26) $ - $ (26) $ -  Debt $ (12,545) $ (11,217) $ - $ (11,217) $ -  Capital lease obligations $ (13) $ (13) $ - $ (13) $ -   December 31, 2015 assets (liabilities):  Cash equivalents $ 1,871 $ 1,871 $ 1,471 $ 400 $ -  Commodity derivatives $ 35 $ 35 $ - $ 35 $ -  Commodity derivatives $ (18) $ (18) $ - $ (18) $ -  Interest rate derivatives $ 2 $ 2 $ - $ 2 $ -  Interest rate derivatives $ (22) $ (22) $ - $ (22) $ -  Foreign currency derivatives $ 8 $ 8 $ - $ 8 $ -  Foreign currency derivatives $ (8) $ (8) $ - $ (8) $ -  Debt $ (13,032) $ (11,927) $ - $ (11,927) $ -  Capital lease obligations $ (17) $ (16) $ - $ (16) $ - 

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Information [Abstract]
Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments	   U.S. Canada EnLink Eliminations Total   (Millions)  Three Months Ended March 31, 2016:  Revenues from external customers $ 1,302 $ 117 $ 707 $ - $ 2,126  Intersegment revenues $ - $ - $ 183 $ (183) $ -  Depreciation, depletion and amortization $ 311 $ 109 $ 122 $ - $ 542  Interest expense $ 107 $ 34 $ 44 $ (20) $ 165  Asset impairments $ 1,608 $ 554 $ 873 $ - $ 3,035  Restructuring and transaction costs $ 236 $ 6 $ 5 $ - $ 247  Loss before income taxes $ (2,065) $ (749) $ (871) $ - $ (3,685)  Income tax benefit $ (5) $ (208) $ (4) $ - $ (217)  Net loss $ (2,060) $ (541) $ (867) $ - $ (3,468)  Net loss attributable to noncontrolling interests $ - $ - $ (412) $ - $ (412)  Net loss attributable to Devon $ (2,060) $ (541) $ (455) $ - $ (3,056)  Property and equipment, net $ 8,901 $ 4,246 $ 6,117 $ - $ 19,264  Total assets $ 13,717 $ 4,933 $ 10,066 $ (79) $ 28,637  Capital expenditures, including acquisitions $ 1,893 $ 81 $ 545 $ - $ 2,519   Three Months Ended March 31, 2015:  Revenues from external customers $ 2,260 $ 221 $ 784 $ - $ 3,265  Intersegment revenues $ - $ - $ 156 $ (156) $ -  Depreciation, depletion and amortization $ 712 $ 127 $ 91 $ - $ 930  Interest expense $ 87 $ 25 $ 19 $ (12) $ 119  Asset impairments $ 5,460 $ - $ - $ - $ 5,460  Earnings (loss) before income taxes $ (5,488) $ (172) $ 36 $ - $ (5,624)  Income tax expense (benefit) $ (1,993) $ (53) $ 11 $ - $ (2,035)  Net earnings (loss) $ (3,495) $ (119) $ 25 $ - $ (3,589)  Net earnings attributable to noncontrolling interests $ - $ - $ 10 $ - $ 10  Net earnings (loss) attributable to Devon $ (3,495) $ (119) $ 15 $ - $ (3,599)  Property and equipment, net $ 19,718 $ 6,281 $ 5,456 $ - $ 31,455  Total assets $ 26,751 $ 7,618 $ 11,007 $ (102) $ 45,274  Capital expenditures, including acquisitions $ 1,344 $ 224 $ 514 $ - $ 2,082  

Acquisitions And Divestitures (

Acquisitions And Divestitures (Narrative) (Details) $ in Millions	Apr. 15, 2016USD ($)	Mar. 31, 2016USD ($)	Jan. 07, 2016USD ($)a	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)
Business Acquisition [Line Items]
Proceeds from property and equipment divestitures				$ 18	$ 2
Installment Payment, Current [Member]
Business Acquisition [Line Items]
Installment payment		$ 229		229
Subsequent Event [Member] | Mississippian Assets [Member] | Forecast [Member]
Business Acquisition [Line Items]
Proceeds from property and equipment divestitures	$ 200
STACK [Member]
Business Acquisition [Line Items]
Close date of acquisition		Jan. 7, 2016
Number of net acres acquired | a			80,000
Aggregate purchase price			$ 1,500
Unproved properties		$ 1,300		1,300
Proved properties		$ 200		200
Cash payment to acquire interest			830
STACK [Member] | Common Stock [Member] | Equity Issued in Business Combination [Member]
Business Acquisition [Line Items]
Equity units value			659
EnLink [Member] | Equity Issued in Business Combination [Member]
Business Acquisition [Line Items]
Equity units value					$ 360
EnLink [Member] | Anadarko Basin [Member]
Business Acquisition [Line Items]
Close date of acquisition		Jan. 7, 2016
Aggregate purchase price			1,500
Cash payment to acquire interest			800
Amount committed to pay			$ 500
Deferred installment payment		$ 250		250
Commitment to pay cash due date			1 year
Intangible assets		1,000		1,000
Property and equipment		420		420
EnLink [Member] | Anadarko Basin [Member] | Installment Payment, Noncurrent [Member]
Business Acquisition [Line Items]
Deferred installment payment			$ 250
Commitment to pay cash due date			24 months
EnLink [Member] | Anadarko Basin [Member] | Installment Payment, Current [Member] | Undiscounted [Member]
Business Acquisition [Line Items]
Installment payment		$ 250		$ 250
General Partner [Member] | Anadarko Basin [Member] | Common Stock [Member] | Equity Issued in Business Combination [Member]
Business Acquisition [Line Items]
Equity units value			$ 215

Derivative Financial Instrume47

Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivative [Line Items]
Other receivables	$ 62	$ 30
Derivative collateral held	$ 5	75
Accrued Derivative Settlements [Member]
Derivative [Line Items]
Other receivables		$ 236

Derivative Financial Instrume48

Derivative Financial Instruments (Schedule Of Open Oil Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2016$ / bblbbl
NYMEX West Texas Intermediate Price Swaps Oil Q2 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	30,000
Weighted Average Price Swap	39.24
NYMEX West Texas Intermediate Price Collars Oil Q2 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	73,000
Weighted Average Floor Price	33.85
Weighted Average Ceiling Price	41.59
NYMEX West Texas Intermediate Price Collars Oil Q3 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	37,000
Weighted Average Floor Price	40.05
Weighted Average Ceiling Price	45.05
NYMEX West Texas Intermediate Call Options Sold Oil Q2 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	18,500
Weighted Average Call Option Sold Price	73.18
NYMEX West Texas Intermediate Call Options Sold Oil Q3 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	18,500
Weighted Average Call Option Sold Price	73.18
NYMEX West Texas Intermediate Call Options Sold Oil Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	18,500
Weighted Average Call Option Sold Price	73.18
Western Canadian Select Basis Swaps Oil Q2-Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	37,985
Weighted Average Differential To WTI	(13.36)
West Texas Sour Basis Swaps Oil Q2-Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	5,000
Weighted Average Differential To WTI	(0.53)
Midland Sweet Basis Swaps Oil Q2-Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (Bbls/d) | bbl	13,000
Weighted Average Differential To WTI	0.25

Derivative Financial Instrume49

Derivative Financial Instruments (Schedule Of Open Natural Gas Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2016MMBTU$ / MMBTU
FERC Henry Hub Price Swaps Natural Gas Q2 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	481,400
Weighted Average Price Swap	2.73
FERC Henry Hub Price Collars Natural Gas Q2 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	4,945
Weighted Average Floor Price	1.77
Weighted Average Ceiling Price	2.02
FERC Henry Hub Call Options Sold Natural Gas Q2 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	400,000
Weighted Average Call Option Sold Price	2.80
FERC Henry Hub Call Options Sold Natural Gas Q3 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	400,000
Weighted Average Call Option Sold Price	2.80
FERC Henry Hub Call Options Sold Natural Gas Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	400,000
Weighted Average Call Option Sold Price	2.80
PEPL Basis Swaps Natural Gas Q2-Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	175,000
Weighted Average Differential To Henry Hub	(0.34)
El Paso Natural Gas Basis Swaps Q2-Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	125,000
Weighted Average Differential To Henry Hub	(0.12)
Houston Ship Channel Natural Gas Basis Swaps Q2-Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	30,000
Weighted Average Differential To Henry Hub	0.11
Transco Zone 4 Natural Gas Basis Swaps Q2-Q4 2016 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	70,000
Weighted Average Differential To Henry Hub	0.01
PEPL Basis Swaps Natural Gas Q1-Q4 2017 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	150,000
Weighted Average Differential To Henry Hub	(0.34)
El Paso Natural Gas Basis Swaps Q1-Q4 2017 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	60,000
Weighted Average Differential To Henry Hub	(0.13)
Houston Ship Channel Natural Gas Basis Swaps Q1-Q4 2017 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	35,000
Weighted Average Differential To Henry Hub	0.06
Transco Zone 4 Natural Gas Basis Swaps Q1-Q4 2017 [Member]
Derivatives, Fair Value [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	205,000
Weighted Average Differential To Henry Hub	0.03

Derivative Financial Instrume50

Derivative Financial Instruments (Schedule Of Gas Processing and Fractionation Open Positions) (Details) - EnLink [Member]	3 Months Ended
	Mar. 31, 2016$ / galMBbls
OPIS Mont Belvieu Texas Ethane Basis Swap Q2 2016-Q4 2016 [Member]
Derivative [Line Items]
Volume (MBbls) | MBbls	415
Weighted average price paid | $ / gal	0.29
Weighted average price received	Index
OPIS Mont Belvieu Texas Propane Basis Swap Q2 2016-Q1 2017 [Member]
Derivative [Line Items]
Volume (MBbls) | MBbls	744
Weighted average price paid	Index
Weighted average price received | $ / gal	0.74

Derivative Financial Instrume51

Derivative Financial Instruments (Schedule Of Open Interest Rate Swap Derivative Positions) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Interest Rate Contract 0.92% Expiration December 2016 [Member]
Derivative [Line Items]
Notional	$ 100
Rate Received	Three Month LIBOR
Rate Paid, percent	0.92%
Expiration	Dec. 31, 2016
Interest Rate Contract 1.76% Expiration January 2019 [Member]
Derivative [Line Items]
Notional	$ 100
Rate Received, percent	1.76%
Rate Paid	Three Month LIBOR
Expiration	Jan. 31, 2019
Interest Rate Contract 2.98% Expiration December 2048 [Member]
Derivative [Line Items]
Notional	$ 750
Rate Received	Three Month LIBOR
Rate Paid, percent	2.98%
Expiration	Dec. 31, 2018
Reference period end date	Dec. 31, 2048	[1]
[1]	Mandatory settlement in December 2018.

Derivative Financial Instrume52

Derivative Financial Instruments (Schedule Of Open Foreign Exchange Rate Derivative Positions) (Details) - Forward Contract Expiration June 2016 [Member] CAD in Millions	3 Months Ended
	Mar. 31, 2016CADCAD / $
Derivative [Line Items]
Currency	Canadian Dollar
CAD Notional | CAD	CAD 1,676
Weighted Average Fixed Rate Received | CAD / $	0.753
Expiration	Jun. 30, 2016

Derivative Financial Instrume53

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Comprehensive Statements Of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Derivatives, Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ (194)	$ 430
Commodity Derivatives [Member] | Oil, Gas And NGL Derivatives [Member]
Derivatives, Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	33	294
Commodity Derivatives [Member] | Marketing And Midstream Revenues [Member]
Derivatives, Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings		2
Interest Rate Derivatives [Member] | Other Nonoperating Items [Member]
Derivatives, Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	(72)	1
Foreign Currency Derivatives [Member] | Other Nonoperating Items [Member]
Derivatives, Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ (155)	$ 133

Derivative Financial Instrume54

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	$ 56	$ 45
Fair value of derivative liabilities	149	48
Commodity Derivatives [Member] | Derivatives, At Fair Value [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	53	34
Commodity Derivatives [Member] | Other Long-Term Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	1	1
Commodity Derivatives [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	26	14
Commodity Derivatives [Member] | Other Long-Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	2	4
Interest Rate Derivatives [Member] | Derivatives, At Fair Value [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	1	1
Interest Rate Derivatives [Member] | Other Long-Term Assets [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets	1	1
Interest Rate Derivatives [Member] | Other Long-Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	95	22
Foreign Currency Derivatives [Member] | Derivatives, At Fair Value [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative assets		8
Foreign Currency Derivatives [Member] | Other Current Liabilities [Member]
Derivatives, Fair Value [Line Items]
Fair value of derivative liabilities	$ 26	$ 8

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit-based compensation	$ 45	$ 68
Restructuring and transaction costs	247
EnLink [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit-based compensation	6	$ 12
Accelerated Vesting Of Share-Based Grants For Employees [Member] | Reduction Of Workforce [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restructuring and transaction costs	$ 67

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of The Effects Of Share Based Compensation Included In The Consolidated Comprehensive Statement Of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation [Abstract]
Gross G&A for share-based compensation	$ 45	$ 68
Share-based compensation expense capitalized pursuant to the full cost method of accounting for oil and gas properties	12	15
Related income tax benefit	$ 9	$ 14

Share-Based Compensation (Summa

Share-Based Compensation (Summary Of Unvested Restricted Stock Awards and Units, Performance-Based Restricted Stock Awards And Performance Share Units) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Restricted Stock Awards And Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at December 31, 2015 | shares	4,738
Granted, awards and units | shares	4,261
Vested, awards and units | shares	(1,167)
Forfeited, awards and units | shares	(74)
Unvested at March 31, 2016 | shares	7,758
Unvested weighted average grant-date fair value at December 31, 2015 | $ / shares	$ 62.49
Granted, weighted average grant-date fair value | $ / shares	19.31
Vested, weighted average grant-date fair value | $ / shares	62.55
Forfeited, weighted average grant-date fair value | $ / shares	60.24
Unvested weighted average grant-date fair value at March 31, 2016 | $ / shares	$ 38.79
Performance-Based Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at December 31, 2015 | shares	434
Granted, awards and units | shares	330
Vested, awards and units | shares	(102)
Forfeited, awards and units | shares
Unvested at March 31, 2016 | shares	662
Unvested weighted average grant-date fair value at December 31, 2015 | $ / shares	$ 60.48
Granted, weighted average grant-date fair value | $ / shares	19.22
Vested, weighted average grant-date fair value | $ / shares	$ 62.55
Forfeited, weighted average grant-date fair value | $ / shares
Unvested weighted average grant-date fair value at March 31, 2016 | $ / shares	$ 39.57
Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at December 31, 2015 | shares	1,859
Granted, awards and units | shares	1,388
Vested, awards and units | shares	(602)
Forfeited, awards and units | shares	(7)
Unvested at March 31, 2016 | shares	2,638	[1]
Unvested weighted average grant-date fair value at December 31, 2015 | $ / shares	$ 76.17
Granted, weighted average grant-date fair value | $ / shares	10.41
Vested, weighted average grant-date fair value | $ / shares	63.37
Forfeited, weighted average grant-date fair value | $ / shares	81.67
Unvested weighted average grant-date fair value at March 31, 2016 | $ / shares	46.52
Maximum [Member] | Performance Share Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted, weighted average grant-date fair value | $ / shares	$ 10.61
Maximum common shares that could be awarded based upon total shareholder return | shares	5,300
[1]	A maximum of 5.3 million common shares could be awarded based upon Devon's final TSR ranking relative to Devon's peer group established under applicable award agreements.

Share-Based Compensation (Sum58

Share-Based Compensation (Summary Of Performance Share Units Grant-Date Fair Values And Their Related Assumptions) (Details) - Performance Share Units [Member]	3 Months Ended
	Mar. 31, 2016$ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value	$ 10.41
Risk-free interest rate	0.94%
Volatility factor	37.70%
Contractual term (in years)	2 years 9 months 29 days
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value	$ 9.24
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grant-date fair value	$ 10.61

Share-Based Compensation (Sum59

Share-Based Compensation (Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 180
Weighted average period for recognition (years)	2 years 8 months 12 days
Performance-Based Restricted Stock Awards [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 10
Weighted average period for recognition (years)	2 years 9 months 18 days
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 40
Weighted average period for recognition (years)	1 year 10 months 24 days

Share-Based Compensation (Sum60

Share-Based Compensation (Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition General Partner And EnLink ) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 180
Weighted average period for recognition (years)	2 years 8 months 12 days
Performance-Based Restricted Stock Awards [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 10
Weighted average period for recognition (years)	2 years 9 months 18 days
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 40
Weighted average period for recognition (years)	1 year 10 months 24 days
EnLink [Member] | Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 22
Weighted average period for recognition (years)	1 year 10 months 24 days
EnLink [Member] | Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 5
Weighted average period for recognition (years)	2 years 2 months 12 days
General Partner [Member] | Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 22
Weighted average period for recognition (years)	1 year 10 months 24 days
General Partner [Member] | Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 5
Weighted average period for recognition (years)	2 years 2 months 12 days

Asset Impairments (Schedule of

Asset Impairments (Schedule of Asset Impairments) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	$ 3,035	$ 5,460
U.S. Oil And Gas Assets [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	1,608	5,458
Canada Oil And Gas Assets [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	554
Other Assets [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges		$ 2
General Partner And EnLink [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss	$ 873

Restructuring and Transaction62

Restructuring and Transaction Costs (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring and transaction costs	$ 247
Employee Related Costs [Member] | Reduction Of Workforce [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and transaction costs	234
Accelerated Vesting Of Share-Based Grants For Employees [Member] | Reduction Of Workforce [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and transaction costs	67
Transaction Costs For Acquisition Closings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and transaction costs	13
Estimated Defined Benefit Settlements [Member] | Reduction Of Workforce [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring and transaction costs	$ 30

Restructuring And Transaction63

Restructuring And Transaction Costs (Schedule Of The Activity And Balances Associated With Restructuring Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Beginning balance	$ 76	$ 20
Ending balance	225	18
Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance	13	13
Ending balance	164	12
Other Long-Term Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Beginning balance	63	7
Ending balance	61	6
Reduction Of Workforce [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve activity	149
Reduction Of Workforce [Member] | Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve activity	$ 149
Reduction Of Workforce [Member] | Other Long-Term Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve activity
Prior Years' Restructurings [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve activity		(2)
Prior Years' Restructurings [Member] | Other Current Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve activity	$ 2	(1)
Prior Years' Restructurings [Member] | Other Long-Term Liabilities [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring reserve activity	$ (2)	$ (1)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Income Tax [Line Items]
Deferred tax assets, valuation allowance	$ 808	$ 967
Valuation allowance against U.S. deferred tax assets, percent		100.00%
General Partner And EnLink [Member]
Income Tax [Line Items]
Goodwill impairments	$ 873

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Taxes [Abstract]
Total income tax benefit	$ (217)	$ (2,035)
U.S. statutory income tax rate	(35.00%)	(35.00%)
Deferred tax asset valuation allowance	22.00%	0.00%
Non-deductible goodwill impairment	8.00%	0.00%
Taxation on Canadian operations	2.00%	0.00%
State income taxes	(1.00%)	(1.00%)
Other	(2.00%)	0.00%
Effective income tax rate	(6.00%)	(36.00%)

Net Loss Per Share Attributab66

Net Loss Per Share Attributable To Devon (Earnings Per Share Computations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Net loss:
Net loss attributable to Devon		$ (3,056)	$ (3,599)
Attributable to participating securities			(1)
Basic and diluted loss		$ (3,056)	$ (3,600)
Common shares:
Common shares outstanding - total		479	410
Attributable to participating securities		(5)	(4)
Common shares outstanding - basic		474	406
Common shares outstanding - diluted		474	406
Net loss per share attributable to Devon:
Basic		$ (6.44)	$ (8.88)
Diluted		$ (6.44)	$ (8.88)
Antidilutive options	[1]	3	4
[1]	Amounts represent options to purchase shares of Devon's common stock that are excluded from the diluted net loss per share calculations because the options are antidilutive.

Other Comprehensive Earnings (C

Other Comprehensive Earnings (Components Of Other Comprehensive Earnings) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Foreign currency translation:
Beginning accumulated foreign currency translation		$ 424	$ 983
Change in cumulative translation adjustment		51	(337)
Income tax benefit (expense)		(28)	35
Ending accumulated foreign currency translation		447	681
Pension and postretirement benefit plans:
Beginning accumulated pension and postretirement benefits		(194)	(204)
Recognition of net actuarial loss and prior service cost in earnings	[1]	6	6
Income tax expense		(2)	(2)
Ending accumulated pension and postretirement benefits		(190)	(200)
Accumulated other comprehensive earnings, net of tax		$ 257	$ 481	$ 230
[1]	These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of G&A on the accompanying consolidated comprehensive statements of earnings. See Note 16 for additional details.

Supplemental Information To S68

Supplemental Information To Statements Of Cash Flows (Narrative) (Details) - Equity Issued in Business Combination [Member] - USD ($) $ in Millions	Jan. 07, 2016	Mar. 31, 2015
EnLink [Member]
Supplemental Cash Flow [Line Items]
Noncash common stock issuance in acquisition, value		$ 360
STACK [Member] | Common Stock [Member]
Supplemental Cash Flow [Line Items]
Noncash common stock issuance in acquisition, value	$ 659

Supplemental Information To S69

Supplemental Information To Statements Of Cash Flows (Schedule Of Supplemental Information To Statements Of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Net change in working capital accounts, net of assets and liabilities assumed:
Accounts receivable	$ 146	$ 404
Other current assets	366	332
Accounts payable	(121)	(15)
Revenues and royalties payable	(101)	(236)
Other current liabilities	(92)	(270)
Net change in working capital	198	215
Interest paid (net of capitalized interest)	115	118
Income taxes paid (received)	$ (128)	$ (414)

Accounts Receivable (Schedule O

Accounts Receivable (Schedule Of Components Of Accounts Receivable) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Joint interest billings	$ 152	$ 211
Other	62	30
Gross accounts receivable	1,041	1,123
Allowance for doubtful accounts	(18)	(18)
Net accounts receivable	1,023	1,105
Oil, Gas And NGL Sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	350	362
Marketing And Midstream Revenues [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	$ 477	$ 520

Other Current Liabilities (Sche

Other Current Liabilities (Schedule Of Other Current Liabilities) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Other Current Liabilities [Line Items]
Accrued interest payable	$ 179	$ 149
Restructuring liabilities	164	13
Other	333	488
Other current liabilities	905	$ 650
Installment Payment, Current [Member]
Other Current Liabilities [Line Items]
Installment payment - See Note 2	$ 229

Goodwill And Other Intangible72

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Goodwill [Line Items]
Weighted average amortization period	14 years
Amortization expense of intangible assets	$ 28	$ 12
Amortization Expense, Next Five Years	115
General Partner And EnLink [Member]
Goodwill [Line Items]
Goodwill impairments	873
Crude And Condensate [Member] | General Partner And EnLink [Member]
Goodwill [Line Items]
Goodwill impairments	93
Texas [Member] | General Partner And EnLink [Member]
Goodwill [Line Items]
Goodwill impairments	473
General Partner [Member] | General Partner And EnLink [Member]
Goodwill [Line Items]
Goodwill impairments	$ 307

Goodwill And Other Intangible73

Goodwill And Other Intangible Assets (Schedule Of Other Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Goodwill And Other Intangible Assets [Abstract]
Customer relationships	$ 1,779	$ 745
Accumulated amortization	(82)	(55)
Net intangibles	$ 1,697	$ 690

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Debt issuance costs	$ 56	$ 57
Repayment of commercial paper	626
Commercial paper	0	626
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	3,000
Outstanding credit facility borrowings	$ 0
Debt-to-capitalization ratio	0.226
Letters of Credit [Member]
Debt Instrument [Line Items]
Outstanding credit facility borrowings	$ 43
EnLink [Member]
Debt Instrument [Line Items]
Debt issuance costs	23	24
Outstanding credit facility borrowings	552	414
EnLink [Member] | Unsecured Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	1,500
Outstanding credit facility borrowings	$ 543
Line of credit average interest rate during period	2.23%
EnLink [Member] | Unsecured Letter Of Credit Subfacility [Member]
Debt Instrument [Line Items]
Outstanding credit facility borrowings	$ 11
General Partner [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	250
Outstanding credit facility borrowings	$ 9
Line of credit average interest rate during period	4.25%
Maximum [Member] | Senior Credit Facility [Member]
Debt Instrument [Line Items]
Debt-to-capitalization ratio	0.65
Accounting Standards Update 2015-03 [Member]
Debt Instrument [Line Items]
Debt issuance costs		$ 81

Debt (Schedule Of Debt Instrume

Debt (Schedule Of Debt Instruments) (Details) - USD ($) $ in Millions		Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Commercial paper		$ 0	$ 626
Debentures and notes		9,425	9,425
Net (discount) premium on debentures and notes		(28)	(28)
Debt issuance costs		(56)	(57)
Total debt		12,545	13,032
Less amount classified as short-term debt	[1]	350	976
Total long-term debt		12,195	12,056
Floating Rate Due December 15, 2016 [Member]
Debt Instrument [Line Items]
Short-term debt		350	350
Devon [Member]
Debt Instrument [Line Items]
Total debt		9,341	9,966
EnLink [Member]
Debt Instrument [Line Items]
Credit facilities		552	414
Debentures and notes		2,663	2,663
Net (discount) premium on debentures and notes		12	13
Debt issuance costs		(23)	(24)
Total debt		$ 3,204	$ 3,066
[1]	Short-term debt as of March 31, 2016 consists of $350 million of floating rate due on December 15, 2016. Short-term debt as of December 31, 2015 consists of $626 million of commercial paper and $350 million floating rate due on December 15, 2016.

Asset Retirement Obligations (S

Asset Retirement Obligations (Summary Of Changes In Asset Retirement Obligations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Asset Retirement Obligations [Abstract]
Asset retirement obligations as of beginning of period	$ 1,414	$ 1,399
Liabilities incurred and assumed through acquisitions	12	23
Liabilities settled and divested	(17)	(25)
Revision of estimated obligation	77	62
Accretion expense on discounted obligation	19	19
Foreign currency translation adjustment	29	(53)
Asset retirement obligations as of end of period	1,534	1,425
Less current portion	43	52
Asset retirement obligations, long-term	$ 1,491	$ 1,373	$ 1,370

Retirement Plans (Schedule Of N

Retirement Plans (Schedule Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 6	$ 8
Interest cost		12	13
Expected return on plan assets		(13)	(15)
Amortization of prior service cost	[1]	1	1
Net actuarial loss	[1]	5	5
Net periodic benefit cost	[2]	11	12
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost		$ 0	$ 0
[1]	These net periodic benefit costs were reclassified out of other comprehensive earnings in the current period.
[2]	Net periodic benefit cost is a component of G&A in the accompanying consolidated comprehensive statements of earnings.

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	1 Months Ended		3 Months Ended
	Feb. 29, 2016	Jan. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Stockholders Equity [Line Items]
Common stock, shares issued				524		418
Net proceeds from offering				$ 1,469
Payments of ordinary dividends				$ 125	$ 99
Dividends paid per share				$ 0.24
Forecast [Member]
Stockholders Equity [Line Items]
Dividends paid per share			$ 0.06
Common Stock Offering [Member]
Stockholders Equity [Line Items]
Common stock, shares issued	79
Net proceeds from offering	$ 1,500
Common Stock Offering [Member] | Underwriters [Member]
Stockholders Equity [Line Items]
Common stock, shares issued	10
Equity Issued in Business Combination [Member] | Common Stock [Member] | STACK [Member]
Stockholders Equity [Line Items]
Units issued for acquisition		23

Noncontrolling Interests (Narra

Noncontrolling Interests (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Number of units sold to public for interests in EnLink	23
Sale of investment in EnLink	$ 569		$ 569
Distributions to unitholders other than Devon		$ 73	53
General Partner [Member]
Noncontrolling Interest [Line Items]
Ownership interest by Devon		64.00%		70.00%
General Partner And EnLink [Member]
Noncontrolling Interest [Line Items]
Distributions to unitholders other than Devon		$ 73	$ 53
EnLink [Member]
Noncontrolling Interest [Line Items]
Ownership interest by Devon		25.00%		28.00%

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Carrying Value And Fair Value Measurement Information For Financial Assets And Liabilities) (Details) - USD ($) $ in Millions	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	$ 56	$ 45
Derivatives, liabilities	(149)	(48)
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,121	1,871
Debt	(12,545)	(13,032)
Capital lease obligations	(13)	(17)
Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,121	1,871
Debt	(11,217)	(11,927)
Capital lease obligations	(13)	(16)
Level 1 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,026	1,471
Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	95	400
Debt	(11,217)	(11,927)
Capital lease obligations	(13)	(16)
Commodity Derivatives [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	54	35
Derivatives, liabilities	(28)	(18)
Commodity Derivatives [Member] | Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	54	35
Derivatives, liabilities	(28)	(18)
Commodity Derivatives [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	54	35
Derivatives, liabilities	(28)	(18)
Interest Rate Derivatives [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	2	2
Derivatives, liabilities	(95)	(22)
Interest Rate Derivatives [Member] | Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	2	2
Derivatives, liabilities	(95)	(22)
Interest Rate Derivatives [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	2	2
Derivatives, liabilities	(95)	(22)
Foreign Currency Derivatives [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets		8
Derivatives, liabilities	(26)	(8)
Foreign Currency Derivatives [Member] | Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets		8
Derivatives, liabilities	(26)	(8)
Foreign Currency Derivatives [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets		8
Derivatives, liabilities	$ (26)	$ (8)

Segment information (Condensed

Segment information (Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2016USD ($)segment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Revenues from external customers	$ 2,126	$ 3,265
Depreciation, depletion and amortization	542	930
Interest expense	165	119
Asset impairments	3,035	5,460
Restructuring and transaction costs	247
Earnings (loss) before income taxes	(3,685)	(5,624)
Income tax expense (benefit)	(217)	(2,035)
Net earnings (loss)	(3,468)	(3,589)
Net earnings (loss) attributable to noncontrolling interests	(412)	10
Net earnings (loss) attributable to Devon	(3,056)	(3,599)
Property and equipment, net	19,264	31,455	$ 19,068
Total assets	28,637	45,274	$ 29,451
Capital expenditures, including acquisitions	2,519	2,082
Eliminations [Member]
Segment Reporting Information [Line Items]
Interest expense	(20)	(12)
Total assets	(79)	(102)
Eliminations [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	$ (183)	(156)
United States [Member]
Segment Reporting Information [Line Items]
Number of reportable segments | segment	1
United States [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	$ 1,302	2,260
Depreciation, depletion and amortization	311	712
Interest expense	107	87
Asset impairments	1,608	5,460
Restructuring and transaction costs	236
Earnings (loss) before income taxes	(2,065)	(5,488)
Income tax expense (benefit)	(5)	(1,993)
Net earnings (loss)	(2,060)	(3,495)
Net earnings (loss) attributable to Devon	(2,060)	(3,495)
Property and equipment, net	8,901	19,718
Total assets	13,717	26,751
Capital expenditures, including acquisitions	1,893	1,344
Canada [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	117	221
Depreciation, depletion and amortization	109	127
Interest expense	34	25
Asset impairments	554
Restructuring and transaction costs	6
Earnings (loss) before income taxes	(749)	(172)
Income tax expense (benefit)	(208)	(53)
Net earnings (loss)	(541)	(119)
Net earnings (loss) attributable to Devon	(541)	(119)
Property and equipment, net	4,246	6,281
Total assets	4,933	7,618
Capital expenditures, including acquisitions	81	224
General Partner And EnLink [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	707	784
Depreciation, depletion and amortization	122	91
Interest expense	44	19
Asset impairments	873
Restructuring and transaction costs	5
Earnings (loss) before income taxes	(871)	36
Income tax expense (benefit)	(4)	11
Net earnings (loss)	(867)	25
Net earnings (loss) attributable to noncontrolling interests	(412)	10
Net earnings (loss) attributable to Devon	(455)	15
Property and equipment, net	6,117	5,456
Total assets	10,066	11,007
Capital expenditures, including acquisitions	545	514
General Partner And EnLink [Member] | Operating Segments [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	$ 183	$ 156