Devon Energy (DVN) 10-Q 3 Aug 16 2016 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Millions	6 Months Ended
	Jun. 30, 2016	Jul. 20, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 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	Q2
Entity Common Stock, Shares Outstanding		523.6

Consolidated Comprehensive Stat

Consolidated Comprehensive Statements Of Earnings - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Statement [Abstract]
Oil, gas and NGL sales	$ 1,085	$ 1,587	$ 1,910	$ 2,926
Oil, gas and NGL derivatives	(142)	(282)	(109)	12
Marketing and midstream revenues	1,545	2,088	2,813	3,720
Total operating revenues	2,488	3,393	4,614	6,658
Lease operating expenses	416	562	860	1,115
Marketing and midstream operating expenses	1,338	1,863	2,404	3,302
General and administrative expenses	147	212	341	463
Production and property taxes	75	116	153	224
Depreciation, depletion and amortization	484	814	1,026	1,744
Asset impairments	1,497	4,168	4,532	9,628
Restructuring and transaction costs	24		271
Other operating items	4	21	24	40
Total operating expenses	3,985	7,756	9,611	16,516
Operating loss	(1,497)	(4,363)	(4,997)	(9,858)
Net financing costs	163	125	327	242
Other nonoperating items	85	(9)	106	3
Loss before income taxes	(1,745)	(4,479)	(5,430)	(10,103)
Income tax benefit	(182)	(1,686)	(399)	(3,721)
Net loss	(1,563)	(2,793)	(5,031)	(6,382)
Net earnings (loss) attributable to noncontrolling interests	7	23	(405)	33
Net loss attributable to Devon	$ (1,570)	$ (2,816)	$ (4,626)	$ (6,415)
Net loss per share attributable to Devon:
Basic	$ (3.04)	$ (6.94)	$ (9.33)	$ (15.81)
Diluted	$ (3.04)	$ (6.94)	$ (9.33)	$ (15.81)
Comprehensive loss:
Net loss	$ (1,563)	$ (2,793)	$ (5,031)	$ (6,382)
Other comprehensive earnings (loss), net of tax:
Foreign currency translation	3	44	26	(258)
Pension and postretirement plans	5	3	9	7
Other comprehensive earnings (loss), net of tax	8	47	35	(251)
Comprehensive loss	(1,555)	(2,746)	(4,996)	(6,633)
Comprehensive earnings (loss) attributable to noncontrolling interests	7	23	(405)	33
Comprehensive loss attributable to Devon	$ (1,562)	$ (2,769)	$ (4,591)	$ (6,666)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Cash flows from operating activities:
Net loss	$ (1,563)	$ (2,793)	$ (5,031)	$ (6,382)
Adjustments to reconcile net loss to net cash from operating activities:
Depreciation, depletion and amortization	484	814	1,026	1,744
Asset impairments	1,497	4,168	4,532	9,628
Deferred income tax benefit	(179)	(1,593)	(386)	(3,640)
Derivatives and other financial instruments	223	305	417	(125)
Cash settlements on derivatives and financial instruments	(44)	464	(148)	1,183
Other noncash charges	88	41	21	266
Net change in working capital	(153)	(189)	45	26
Change in long-term other assets	(40)	18	13	159
Change in long-term other liabilities	22	(134)	(5)	(110)
Net cash from operating activities	335	1,101	484	2,749
Cash flows from investing activities:
Capital expenditures	(489)	(1,432)	(1,238)	(3,149)
Acquisitions of property, equipment and businesses	(11)	(13)	(1,638)	(417)
Divestitures of property and equipment	191	6	209	8
Other	(26)	(8)	(27)	(5)
Net cash from investing activities	(335)	(1,447)	(2,694)	(3,563)
Cash flows from financing activities:
Borrowings of long-term debt, net of issuance costs	450	2,094	846	3,051
Repayments of long-term debt	(290)	(1,034)	(549)	(1,521)
Net short-term debt repayments		(778)	(626)	(763)
Issuance of common stock			1,469
Sale of subsidiary units		85		654
Issuance of subsidiary units	49	2	776	4
Dividends paid on common stock	(33)	(98)	(158)	(197)
Distributions to noncontrolling interests	(74)	(65)	(147)	(118)
Other	(2)	4	(2)	(8)
Net cash from financing activities	100	210	1,609	1,102
Effect of exchange rate changes on cash	(12)	3	14	(43)
Net change in cash and cash equivalents	88	(133)	(587)	245
Cash and cash equivalents at beginning of period	1,635	1,858	2,310	1,480
Cash and cash equivalents at end of period	$ 1,723	$ 1,725	$ 1,723	$ 1,725

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Jun. 30, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 1,723	$ 2,310
Accounts receivable		1,167	1,105
Assets held for sale		728
Other current assets		364	606
Total current assets		3,982	4,021
Oil and gas, based on full cost accounting:
Subject to amortization		80,066	78,190
Not subject to amortization		3,798	2,584
Total oil and gas		83,864	80,774
Midstream and other		10,243	10,380
Total property and equipment, at cost		94,107	91,154
Less accumulated depreciation, depletion and amortization		(77,292)	(72,086)
Property and equipment, net		16,815	19,068
Goodwill		4,159	5,032
Other long-term assets		2,288	1,330
Total assets		27,244	29,451
Current liabilities:
Accounts payable		545	906
Revenues and royalties payable		819	763
Short-term debt	[1]	350	976
Liabilities held for sale		205
Other current liabilities		1,010	650
Total current liabilities		2,929	3,295
Long-term debt		12,357	12,056
Asset retirement obligations		1,473	1,370
Other long-term liabilities		1,011	853
Deferred income taxes		555	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		7,500	4,996
Retained earnings (accumulated deficit)		(2,970)	1,781
Accumulated other comprehensive earnings		265	230
Total stockholders’ equity attributable to Devon		4,847	7,049
Noncontrolling interests		4,072	3,940
Total stockholders’ equity		8,919	10,989
Commitments and contingencies (Note 19)
Total liabilities and stockholders’ equity		$ 27,244	$ 29,451
[1]	Short-term debt as of June 30, 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	Jun. 30, 2016	Dec. 31, 2015
Statement Of Financial Position [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	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]
Balance, at Dec. 31, 2014	$ 26,341	$ 41	$ 4,088	$ 16,631	$ 779		$ 4,802
Balance, shares, at Dec. 31, 2014		409
Net earnings (loss)	(6,382)			(6,415)			33
Other comprehensive earnings (loss), net of tax	(251)				(251)
Stock option exercises	4		4
Restricted stock grants, net of cancellations, shares		2
Common stock repurchased	(23)					$ (23)
Common stock retired			(23)			23
Common stock dividends	(197)			(197)
Share-based compensation	89		89
Subsidiary equity transactions	689		578				111
Distributions to noncontrolling interests	(118)						(118)
Other	(1)			(1)
Balance, at Jun. 30, 2015	20,151	$ 41	4,736	10,018	528		4,828
Balance, shares, at Jun. 30, 2015		411
Balance, at Dec. 31, 2015	10,989	$ 42	4,996	1,781	230		3,940
Balance, shares, at Dec. 31, 2015		418
Net earnings (loss)	(5,031)			(4,626)			(405)
Other comprehensive earnings (loss), net of tax	35				35
Restricted stock grants, net of cancellations, shares		3
Common stock repurchased	(21)					(21)
Common stock retired			(21)			$ 21
Common stock dividends	(158)		(33)	(125)
Common stock issued	2,127	$ 10	2,117
Common stock issued, shares		103
Share-based compensation	123		123
Subsidiary equity transactions	1,002		318				684
Distributions to noncontrolling interests	(147)						(147)
Balance, at Jun. 30, 2016	$ 8,919	$ 52	$ 7,500	$ (2,970)	$ 265		$ 4,072
Balance, shares, at Jun. 30, 2016		524

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
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 U.S. GAAP 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 2015 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 and six-month periods ended June 30, 2016 and 2015 and Devon’s financial position as of June 30, 2016. Recently Issued Accounting Standards The FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Extractive Activities – Oil and Gas – Revenue Recognition. Revenue from Contracts with Customers – Deferral of the Effective Date, The FASB issued ASU 2016-02, Leases (Topic 842) Leases

Acquisitions And Divestitures

Acquisitions And Divestitures	6 Months Ended
	Jun. 30, 2016
Business Combinations [Abstract]
Acquisitions And Divestitures	2. Acquisitions and Divestitures Devon Acquisitions 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 $847 million of cash and $659 million of common equity shares. The allocation of the purchase price at June 30, 2016 was approximately $1.3 billion to unproved properties and 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 units. 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 undiscounted 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. The 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 June 30, 2016 was $1.0 billion to intangible assets and $420 million to property and equipment. On August 1, 2016, EnLink formed a joint venture to operate and expand its midstream assets in the Delaware Basin. The joint venture is initially owned 50.1% by EnLink and 49.9% by the joint venture partner. EnLink contributed approximately $230 million of existing assets to the joint venture and committed an additional $285 million in capital to fund potential future development projects and potential acquisitions. The joint venture partner committed an aggregate of approximately $400 million of capital, including an initial contribution of approximately $115 million, and granted to EnLink call rights beginning in 2021 to acquire increasing portions of the joint venture partner’s interest. Devon Asset Divestitures In December 2015, Devon announced its intent to divest certain non-core upstream assets in the U.S. and its interest in the Access Pipeline in Canada. Proceeds from these divestitures are expected to be used primarily for debt repayment and to support capital investment in Devon’s core resource plays. On June 30, 2016, Devon sold its Mississippian assets for $200 million, subject to certain adjustments. Estimated proved reserves associated with these assets were approximately 11 MMBoe, or less than 1% of total U.S. proved reserves. Under full cost accounting rules, sales or dispositions of oil and gas properties are generally accounted for as adjustments to capitalized costs, with no recognition of a gain or loss. No gain or loss was recognized on the sale of the Mississippian assets. During the second quarter of 2016, Devon entered into definitive agreements to divest approximately $1.8 billion of non-core assets located primarily in east Texas, the Anadarko Basin and the Midland Basin to five separate purchasers. Through August 3, 2016, Devon has closed approximately $1.2 billion of the announced asset divestitures. Devon expects to close the remaining transactions in the third quarter of 2016. Devon is evaluating whether the impact of these divestitures will result in an adjustment to its capitalized costs or in the recognition of a gain in the consolidated statement of earnings. As of June 30, 2016, Devon held approximately $95 million in cash related to the pending transactions. The cash deposits are restricted until the closing of the transactions. As a result, Devon has classified these amounts in other current assets and other current liabilities in the accompanying consolidated balance sheet. Assets held for sale In July 2016, Devon reached an agreement to sell its interest in the Access Pipeline for $1.1 billion ($1.4 billion Canadian dollars). The transaction is expected to close in the third quarter of 2016. As of June 30, 2016, Devon’s Access Pipeline assets and liabilities were classified as held for sale. Upon this classification change, Devon ceased recording depreciation on Access Pipeline. Based on the contracted sales price, no fair value adjustment to the carrying value of these assets and liabilities was warranted at June 30, 2016, and Devon expects to recognize a gain of approximately $400 million to $600 million upon the closing of the sale. Under the terms of the related transportation agreement, Devon’s Canadian thermal-oil acreage is dedicated to Access Pipeline for an initial term of 25 years. A market-based toll will be applied to production from Devon’s thermal-oil projects.

Derivative Financial Instrument

Derivative Financial Instruments	6 Months Ended
	Jun. 30, 2016
Derivative Instruments And Hedging Activities Disclosure [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. As of June 30, 2016, Devon did not have any open foreign exchange contracts. 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’s or its counterparty’s credit rating falls below certain credit rating levels. As of December 31, 2015, Devon held $75 million of cash collateral which represented the estimated fair value of certain derivative positions in excess of Devon’s credit guidelines. The collateral is reported in other current liabilities in the accompanying consolidated balance sheets. Commodity Derivatives As of June 30, 2016, Devon had the following open oil derivative positions. The first table presents Devon’s oil derivatives that settle against the average of the prompt month NYMEX WTI futures price. The second table presents Devon’s oil derivatives that settle against the respective indices noted within the table. Price Swaps Price Collars Call Options Sold Period Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Volume (Bbls/d) Weighted Average Price ($/Bbl) Q3 2016 33,000 $ 48.37 65,000 $ 40.37 $ 46.91 18,500 $ 55.00 Q4 2016 30,000 $ 48.58 20,000 $ 40.85 $ 50.85 18,500 $ 55.00 Q1-Q4 2017 2,623 $ 51.79 7,248 $ 47.21 $ 57.21 — $ — Oil Basis Swaps Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Q3-Q4 2016 Western Canadian Select 41,500 $ (13.43 ) Q3-Q4 2016 West Texas Sour 5,000 $ (0.53 ) Q3-Q4 2016 Midland Sweet 13,000 $ 0.25 As of June 30, 2016, 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) Q3 2016 140,000 $ 2.78 105,000 $ 2.57 $ 2.85 400,000 $ 2.80 Q4 2016 155,000 $ 2.83 275,000 $ 2.70 $ 2.90 400,000 $ 2.80 Q1-Q4 2017 79,397 $ 3.00 42,411 $ 2.96 $ 3.26 — $ — Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q3-Q4 2016 Panhandle Eastern Pipe Line 175,000 $ (0.34 ) Q3-Q4 2016 El Paso Natural Gas 125,000 $ (0.12 ) Q3-Q4 2016 Houston Ship Channel 30,000 $ 0.11 Q3-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 80,000 $ (0.13 ) Q1-Q4 2017 Houston Ship Channel 35,000 $ 0.06 Q1-Q4 2017 Transco Zone 4 205,000 $ 0.03 As of June 30, 2016, Devon had the following open NGL derivative positions. Devon’s NGL positions settle against the average of the prompt month OPIS Mont Belvieu, Texas index. Price Swaps Price Collars Period Product Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Q3-Q4 2016 Ethane 6,000 $ 9.34 10,500 $ 8.20 $ 9.46 Q3-Q4 2016 Propane — $ — 5,000 $ 19.61 $ 21.71 As of June 30, 2016, 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. EnLink’s natural gas derivatives settle against the Henry Hub Gas Daily index. Period Product Volume (Total) Weighted Average Price Paid Weighted Average Price Received Q3 2016-Q4 2016 Ethane 273 MBbls $0.29/gal Index Q3 2016-Q2 2017 Propane 557 MBbls Index $0.72/gal Q3 2016-Q2 2017 Normal Butane 122 MBbls Index $0.58/gal Q3 2016-Q2 2017 Natural Gasoline 66 MBbls Index $0.95/gal Q3 2016-Q2 2017 Natural Gas 7,082 MMBtu/d Index $2.86/MMbtu Q4 2016 Condensate 50 MBbls Index $40.20/bbl Interest Rate Derivatives As of June 30, 2016, Devon had the following open interest rate derivative positions: Notional Rate Received Rate Paid Expiration (Millions) $ 100 Three Month LIBOR 0.92% December 2016 $ 750 Three Month LIBOR 2.98% December 2048 (1) $ 100 1.76% Three Month LIBOR January 2019 (1) Mandatory settlement in December 2018. 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Millions) Commodity derivatives: Oil, gas and NGL derivatives $ (142 ) $ (282 ) $ (109 ) $ 12 Marketing and midstream revenues (6 ) — (6 ) 2 Interest rate derivatives: Other nonoperating items (71 ) 1 (143 ) 2 Foreign currency derivatives: Other nonoperating items (4 ) (24 ) (159 ) 109 Net gains (losses) recognized $ (223 ) $ (305 ) $ (417 ) $ 125 The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. June 30, 2016 December 31, 2015 (Millions) Commodity derivative assets: Other current assets $ 14 $ 34 Other long-term assets 2 1 Interest rate derivative assets: Other current assets 1 1 Other long-term assets 2 1 Foreign currency derivative assets: Other current assets — 8 Total derivative assets $ 19 $ 45 Commodity derivative liabilities: Other current liabilities $ 104 $ 14 Other long-term liabilities 7 4 Interest rate derivative liabilities: Other long-term liabilities 166 22 Foreign currency derivative liabilities: Other current liabilities — 8 Total derivative liabilities $ 277 $ 48

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2016
Disclosure Of Compensation Related Costs Sharebased Payments [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. Gross G&A expense for the first six months of 2016 and 2015 includes $12 million and $18 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 2016 in conjunction with the reduction of workforce described in Note 6. For the six months ended June 30, 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. Six Months Ended June 30, 2016 2015 (Millions) Gross G&A for share-based compensation $ 80 $ 127 Share-based compensation expense capitalized pursuant to the full cost method of accounting for oil and gas properties $ 21 $ 31 Related income tax benefit $ 2 $ 26 Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first six months of 2016. 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 4,299 $ 19.46 330 $ 19.22 1,388 $ 10.41 Vested (2,051 ) $ 62.50 (102 ) $ 62.55 (602 ) $ 63.37 Forfeited (121 ) $ 50.58 — $ — (7 ) $ 81.67 Unvested at 6/30/16 6,865 $ 35.74 662 $ 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 June 30, 2016. Performance-Based Restricted Stock Restricted Stock Performance Awards and Units Awards Share Units Unrecognized compensation cost (millions) $ 170 $ 8 $ 34 Weighted average period for recognition (years) 2.6 2.5 1.8 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 June 30, 2016. General Partner EnLink Restricted Performance Restricted Performance Incentive Units Units Incentive Units Units Unrecognized compensation cost (millions) $ 19 $ 4 $ 19 $ 4 Weighted average period for recognition (years) 1.7 2.0 1.8 2.0

Asset Impairments

Asset Impairments	6 Months Ended
	Jun. 30, 2016
Asset Impairment Charges [Abstract]
Asset Impairments	5. Asset Impairments The following table presents the components of asset impairments recognized by Devon. Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Millions) U.S. oil and gas assets $ 885 $ 4,167 $ 2,493 $ 9,625 Canada oil and gas assets 612 — 1,166 — EnLink goodwill — — 873 — Other assets — 1 — 3 Total asset impairments $ 1,497 $ 4,168 $ 4,532 $ 9,628 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 declines in the U.S. and Canada full cost ceilings. The lower ceiling values resulted primarily from significant decreases in the 12-month average trailing prices for oil, bitumen, gas and NGLs, which significantly reduced proved reserves values and, to a lesser degree, proved reserves. EnLink Goodwill Impairments In the first quarter of 2016, 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	6 Months Ended
	Jun. 30, 2016
Restructuring And Related Activities [Abstract]
Restructuring And Transaction Costs	6. Restructuring and Transaction Costs The following table summarizes restructuring and transaction costs presented in the accompanying consolidated comprehensive statement of earnings. June 30, 2016 Three Months Ended Six Months Ended (Millions) 2016 reduction in workforce: Employee-related costs $ 2 $ 236 Lease obligations 17 17 Asset impairments 3 3 Transaction costs 2 15 Restructuring and transaction costs $ 24 $ 271 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 107 13 120 Changes related to prior years' restructurings 3 (6 ) (3 ) Balance as June 30, 2016 $ 123 $ 70 $ 193 Balance as of December 31, 2014 $ 13 $ 7 $ 20 Changes related to prior years' restructurings (3 ) (2 ) (5 ) Balance as of June 30, 2015 $ 10 $ 5 $ 15 Reduction in Workforce In the first six months of 2016, Devon recognized $236 million in 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 during the first six months of 2016, as well as amounts based on the number of employees expected to be impacted by certain of its non-core asset divestitures. Devon expects to complete these pending divestitures in the third quarter of 2016. As a result of the reduction in workforce and asset divestitures, Devon ceased using certain office space that was subject to non-cancellable operating lease arrangements. Consequently, Devon recognized $17 million of restructuring costs that represent the present value of its future obligations under the leases. Additionally, Devon recognized $3 million of asset impairment charges for leasehold improvements and furniture associated with the office space it ceased using. Transaction Costs In the first six months of 2016, Devon and EnLink recognized transaction costs primarily associated with the closing of the acquisitions discussed in Note 2.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 Total income tax benefit (millions) $ (182 ) $ (1,686 ) $ (399 ) $ (3,721 ) U.S. statutory income tax rate (35 %) (35 %) (35 %) (35 %) Deferred tax asset valuation allowance 27 % 0 % 24 % 0 % Non-deductible goodwill impairment 0 % 0 % 6 % 0 % Taxation on Canadian operations 3 % 1 % 2 % 1 % State income taxes (2 %) (2 %) (1 %) (2 %) Other (3 %) (2 %) (3 %) (1 %) Effective income tax rate (10 %) (38 %) (7 %) (37 %) 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%, or $967 million, valuation allowance against the U.S. deferred tax assets that largely resulted from the full cost impairments recognized during 2015. Through the first six months of 2016, Devon provided an additional $1.3 billion valuation allowance against the U.S. deferred tax assets due to its continued financial losses incurred largely by the additional full cost impairments. 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	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [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 Six Months Ended June 30, June 30, 2016 2015 2016 2015 (Millions, except per share amounts) Net loss: Net loss attributable to Devon $ (1,570 ) $ (2,816 ) $ (4,626 ) $ (6,415 ) Attributable to participating securities (1 ) (1 ) (1 ) (2 ) Basic and diluted loss $ (1,571 ) $ (2,817 ) $ (4,627 ) $ (6,417 ) Common shares: Common shares outstanding - total 524 411 502 411 Attributable to participating securities (6 ) (5 ) (6 ) (5 ) Common shares outstanding - basic 518 406 496 406 Dilutive effect of potential common shares issuable — — — — Common shares outstanding - diluted 518 406 496 406 Net loss per share attributable to Devon: Basic $ (3.04 ) $ (6.94 ) $ (9.33 ) $ (15.81 ) Diluted $ (3.04 ) $ (6.94 ) $ (9.33 ) $ (15.81 ) Antidilutive options (1) 3 3 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	6 Months Ended
	Jun. 30, 2016
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Other Comprehensive Earnings	9. Other Comprehensive Earnings Components of other comprehensive earnings consist of the following: Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 (Millions) Foreign currency translation: Beginning accumulated foreign currency translation $ 447 $ 681 $ 424 $ 983 Change in cumulative translation adjustment 2 60 53 (277 ) Income tax benefit (expense) 1 (16 ) (27 ) 19 Ending accumulated foreign currency translation 450 725 450 725 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (190 ) (200 ) (194 ) (204 ) Recognition of net actuarial loss and prior service cost in earnings (1) 8 5 13 11 Income tax expense (3 ) (2 ) (4 ) (4 ) Ending accumulated pension and postretirement benefits (185 ) (197 ) (185 ) (197 ) Accumulated other comprehensive earnings, net of tax $ 265 $ 528 $ 265 $ 528 (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 Sta

Supplemental Information To Statements Of Cash Flows	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Information To Statements Of Cash Flows	10. Supplemental Information to Statements of Cash Flows Three Months Ended June Six Months Ended June 30, 2016 2015 2016 2015 (Millions) Net change in working capital accounts, net of assets and liabilities assumed: Accounts receivable $ (140 ) $ 36 $ 6 $ 440 Income taxes receivable (14 ) (9 ) 101 416 Other current assets (107 ) 87 144 (6 ) Accounts payable (30 ) (87 ) (151 ) (102 ) Revenues and royalties payable 95 53 (6 ) (183 ) Other current liabilities 43 (269 ) (49 ) (539 ) Net change in working capital $ (153 ) $ (189 ) $ 45 $ 26 Interest paid (net of capitalized interest) $ 174 $ 112 $ 289 $ 230 Income taxes paid (received) $ 5 $ 84 $ (123 ) $ (330 ) 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 six months of 2015, EnLink’s acquisitions included $360 million of noncash equity issuance.

Accounts Receivable

Accounts Receivable	6 Months Ended
	Jun. 30, 2016
Accounts Receivable Net [Abstract]
Accounts Receivable	11. Accounts Receivable Components of accounts receivable include the following: June 30, 2016 December 31, 2015 (Millions) Oil, gas and NGL sales $ 440 $ 362 Joint interest billings 107 211 Marketing and midstream revenues 552 520 Other 83 30 Gross accounts receivable 1,182 1,123 Allowance for doubtful accounts (15 ) (18 ) Net accounts receivable $ 1,167 $ 1,105

Other Current Liabilities

Other Current Liabilities	6 Months Ended
	Jun. 30, 2016
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	12. Other Current Liabilities Components of other current liabilities include the following: June 30, 2016 December 31, 2015 (Millions) Installment payment - see Note 2 $ 236 $ — Accrued interest payable 150 149 Restructuring liabilities 123 13 Other 501 488 Other current liabilities $ 1,010 $ 650

Goodwill And Other Intangible A

Goodwill And Other Intangible Assets	6 Months Ended
	Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Goodwill And Other Intangible Assets	13. 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. Based on that test, 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 six months of 2016. June 30, 2016 December 31, 2015 (Millions) Customer relationships $ 1,779 $ 745 Accumulated amortization (112 ) (55 ) Net intangibles $ 1,667 $ 690 The weighted-average amortization period for other intangible assets is 14 years. Amortization expense for intangibles was approximately $30 million and $18 million for the three months ended June 30, 2016 and 2015, respectively and $58 million and $30 million for six months ended June 30, 2016 and 2015, respectively. The remaining amortization expense is estimated to be $117 million each of the next five years.

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	14. Debt A summary of debt is as follows: June 30, 2016 December 31, 2015 (Millions) Devon debt: Commercial paper $ — $ 626 Debentures and notes 9,425 9,425 Net discount on debentures and notes (27 ) (28 ) Debt issuance costs (55 ) (57 ) Total Devon debt 9,343 9,966 EnLink debt: Credit facilities 712 414 Debentures and notes 2,663 2,663 Net premium on debentures and notes 11 13 Debt issuance costs (22 ) (24 ) Total EnLink debt 3,364 3,066 Total debt 12,707 13,032 Less amount classified as short-term debt (1) 350 976 Total long-term debt $ 12,357 $ 12,056 (1) Short-term debt as of June 30, 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. Commercial Paper During the six months ended June 30, 2016, Devon reduced commercial paper borrowings by $626 million. As of June 30, 2016, Devon had no outstanding commercial paper borrowings. Credit Lines Devon has a $3.0 billion Senior Credit Facility. As of June 30, 2016, there were $66 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 June 30, 2016, Devon was in compliance with this covenant with a debt-to-capitalization ratio of 23.1%. 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 June 30, 2016, there were $11 million in outstanding letters of credit and $697 million in outstanding borrowings at an average rate of 2.12% under the $1.5 billion credit facility. The General Partner has a $250 million secured revolving credit facility. As of June 30, 2016, the General Partner had $15 million in outstanding 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 June 30, 2016. In July 2016, EnLink issued $500 million of 4.85% unsecured senior notes due 2026. EnLink intends to use the net proceeds to repay outstanding borrowings under its revolving credit facility and for general partnership purposes.

Asset Retirement Obligations

Asset Retirement Obligations	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	15. Asset Retirement Obligations The following table presents the changes in Devon’s asset retirement obligations. Six Months Ended June 30, 2016 2015 (Millions) Asset retirement obligations as of beginning of period $ 1,414 $ 1,399 Liabilities incurred and assumed through acquisitions 15 33 Liabilities settled and divested (51 ) (31 ) Revision of estimated obligation 70 61 Accretion expense on discounted obligation 39 38 Foreign currency translation adjustment 30 (45 ) Asset retirement obligations as of end of period 1,517 1,455 Less current portion 44 64 Asset retirement obligations, long-term $ 1,473 $ 1,391 During the first six months of 2016, Devon reduced its asset retirement obligation by $35 million for those obligations that were assumed by the purchasers of certain Devon non-core upstream U.S. assets.

Retirement Plans

Retirement Plans	6 Months Ended
	Jun. 30, 2016
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	16. Retirement Plans The following table presents the components of net periodic benefit cost for Devon’s pension and postretirement benefit plans. Pension Benefits Postretirement Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2016 2015 2016 2015 2016 2015 2016 2015 (Millions) Service cost $ 3 $ 8 $ 9 $ 16 $ — $ — $ — $ — Interest cost 11 13 23 26 — — — — Expected return on plan assets (13 ) (15 ) (26 ) (30 ) — — — — Amortization of prior service cost (1) 1 1 1 2 — (1 ) (1 ) (1 ) Net actuarial loss (1) 7 5 13 10 — — — — Net periodic benefit cost (2) $ 9 $ 12 $ 20 $ 24 $ — $ (1 ) $ (1 ) $ (1 ) (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	6 Months Ended
	Jun. 30, 2016
Stockholders Equity Note [Abstract]
Stockholders' Equity	17. 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 The table below summarizes the dividends Devon paid on its common stock. Amount Rate (Millions) (Per Share) Quarter Ended 2016: First quarter 2016 $ 125 $ 0.24 Second quarter 2016 33 $ 0.06 Total year-to-date $ 158 Quarter Ended 2015: First quarter 2015 $ 99 $ 0.24 Second quarter 2015 98 $ 0.24 Total year-to-date $ 197 In response to the depressed commodity price environment, Devon reduced its quarterly dividend to $0.06 per share in the second quarter of 2016.

Noncontrolling Interests

Noncontrolling Interests	6 Months Ended
	Jun. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling interests	18. Noncontrolling Interests Subsidiary Equity Transactions During the first quarter of 2016, EnLink issued common units in conjunction with the acquisition discussed in Note 2. In addition, during the first six months of 2016, EnLink issued approximately 3 million common units for net proceeds of $52 million. As a result of these transactions, Devon’s ownership interest in EnLink decreased from 28% at December 31, 2015 to 24% at June 30, 2016, excluding the interest held by the General Partner. Additionally, as a result of the transaction described in Note 2, Devon’s ownership in the General Partner decreased from 70% to 64% during the same time period. 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. Distributions to Noncontrolling Interests EnLink and the General Partner distributed $147 million and $118 million to non-Devon unitholders during the first six months of 2016 and 2015, respectively.

Commitments And Contingencies

Commitments And Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	19. 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 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	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	20. Fair Value Measurements The following table provides 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 June 30, 2016 and December 31, 2015. Therefore, such financial assets and liabilities are not presented in the following table. Additionally, the fair values of oil and gas assets, goodwill and other intangible assets and related impairments are measured as of the impairment date using Level 3 inputs. More information on these items 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) June 30, 2016 assets (liabilities): Cash equivalents $ 1,241 $ 1,241 $ 1,163 $ 78 $ — Commodity derivatives $ 16 $ 16 $ — $ 16 $ — Commodity derivatives $ (111 ) $ (111 ) $ — $ (111 ) $ — Interest rate derivatives $ 3 $ 3 $ — $ 3 $ — Interest rate derivatives $ (166 ) $ (166 ) $ — $ (166 ) $ — Debt $ (12,707 ) $ (12,901 ) $ — $ (12,901 ) $ — Installment payment $ (447 ) $ (452 ) $ — $ (452 ) $ — Capital lease obligations $ (12 ) $ (12 ) $ — $ (12 ) $ — 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 estimate 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 values of commercial paper and credit facility balances are the carrying values. Installment payment – The fair value of the EnLink installment payment as of June 30, 2016 was based on Level 2 inputs from third-party market quotations. Capital lease obligations – The fair value was calculated using inputs from third-party banks.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Segment Information	21. 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 E&P 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 E&P 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 June 30, 2016: Revenues from external customers $ 1,365 $ 266 $ 857 $ — $ 2,488 Intersegment revenues $ — $ — $ 176 $ (176 ) $ — Depreciation, depletion and amortization $ 256 $ 103 $ 125 $ — $ 484 Interest expense $ 108 $ 33 $ 47 $ (23 ) $ 165 Asset impairments $ 885 $ 612 $ — $ — $ 1,497 Restructuring and transaction costs $ 19 $ 4 $ 1 $ — $ 24 Loss before income taxes $ (1,097 ) $ (647 ) $ (1 ) $ — $ (1,745 ) Income tax benefit $ (6 ) $ (174 ) $ (2 ) $ — $ (182 ) Net earnings (loss) $ (1,091 ) $ (473 ) $ 1 $ — $ (1,563 ) Net earnings attributable to noncontrolling interests $ 1 $ — $ 6 $ — $ 7 Net loss attributable to Devon $ (1,092 ) $ (473 ) $ (5 ) $ — $ (1,570 ) Capital expenditures, including acquisitions $ 284 $ 29 $ 139 $ — $ 452 Three Months Ended June 30, 2015: Revenues from external customers $ 1,930 $ 360 $ 1,103 $ — $ 3,393 Intersegment revenues $ — $ — $ 171 $ (171 ) $ — Depreciation, depletion and amortization $ 595 $ 121 $ 98 $ — $ 814 Interest expense $ 88 $ 23 $ 26 $ (11 ) $ 126 Asset impairments $ 4,168 $ — $ — $ — $ 4,168 Earnings (loss) before income taxes $ (4,498 ) $ (36 ) $ 55 $ — $ (4,479 ) Income tax expense (benefit) $ (1,736 ) $ 40 $ 10 $ — $ (1,686 ) Net earnings (loss) $ (2,762 ) $ (76 ) $ 45 $ — $ (2,793 ) Net earnings attributable to noncontrolling interests $ 1 $ — $ 22 $ — $ 23 Net earnings (loss) attributable to Devon $ (2,763 ) $ (76 ) $ 23 $ — $ (2,816 ) Capital expenditures, including acquisitions $ 887 $ 146 $ 158 $ — $ 1,191 Six Months Ended June 30, 2016: Revenues from external customers $ 2,667 $ 383 $ 1,564 $ — $ 4,614 Intersegment revenues $ — $ — $ 359 $ (359 ) $ — Depreciation, depletion and amortization $ 567 $ 212 $ 247 $ — $ 1,026 Interest expense $ 215 $ 67 $ 91 $ (43 ) $ 330 Asset impairments $ 2,493 $ 1,166 $ 873 $ — $ 4,532 Restructuring and transaction costs $ 255 $ 10 $ 6 $ — $ 271 Loss before income taxes $ (3,162 ) $ (1,396 ) $ (872 ) $ — $ (5,430 ) Income tax benefit $ (11 ) $ (382 ) $ (6 ) $ — $ (399 ) Net loss $ (3,151 ) $ (1,014 ) $ (866 ) $ — $ (5,031 ) Net earnings (loss) attributable to noncontrolling interests $ 1 $ — $ (406 ) $ — $ (405 ) Net loss attributable to Devon $ (3,152 ) $ (1,014 ) $ (460 ) $ — $ (4,626 ) Property and equipment, net $ 7,823 $ 2,832 $ 6,160 $ — $ 16,815 Total assets $ 12,856 $ 4,283 $ 10,162 $ (57 ) $ 27,244 Capital expenditures, including acquisitions $ 2,177 $ 110 $ 684 $ — $ 2,971 Six Months Ended June 30, 2015: Revenues from external customers $ 4,189 $ 581 $ 1,888 $ — $ 6,658 Intersegment revenues $ — $ — $ 327 $ (327 ) $ — Depreciation, depletion and amortization $ 1,307 $ 248 $ 189 $ — $ 1,744 Interest expense $ 175 $ 48 $ 45 $ (23 ) $ 245 Asset impairments $ 9,628 $ — $ — $ — $ 9,628 Earnings (loss) before income taxes $ (9,986 ) $ (208 ) $ 91 $ — $ (10,103 ) Income tax expense (benefit) $ (3,729 ) $ (13 ) $ 21 $ — $ (3,721 ) Net earnings (loss) $ (6,257 ) $ (195 ) $ 70 $ — $ (6,382 ) Net earnings attributable to noncontrolling interests $ 1 $ — $ 32 $ — $ 33 Net earnings (loss) attributable to Devon $ (6,258 ) $ (195 ) $ 38 $ — $ (6,415 ) Property and equipment, net $ 15,852 $ 6,422 $ 5,550 $ — $ 27,824 Total assets $ 21,897 $ 7,637 $ 11,103 $ (111 ) $ 40,526 Capital expenditures, including acquisitions $ 2,231 $ 370 $ 672 $ — $ 3,273

Summary Of Significant Accoun28

Summary Of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Recently Issued Accounting Standards	Recently Issued Accounting Standards The FASB issued ASU 2016-09, Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting The FASB issued ASU 2014-09, Revenue from Contracts with Customers (Topic 606) Revenue Recognition Extractive Activities – Oil and Gas – Revenue Recognition. Revenue from Contracts with Customers – Deferral of the Effective Date, The FASB issued ASU 2016-02, Leases (Topic 842) Leases
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 Instrume29

Derivative Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 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 June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Millions) Commodity derivatives: Oil, gas and NGL derivatives $ (142 ) $ (282 ) $ (109 ) $ 12 Marketing and midstream revenues (6 ) — (6 ) 2 Interest rate derivatives: Other nonoperating items (71 ) 1 (143 ) 2 Foreign currency derivatives: Other nonoperating items (4 ) (24 ) (159 ) 109 Net gains (losses) recognized $ (223 ) $ (305 ) $ (417 ) $ 125 The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. June 30, 2016 December 31, 2015 (Millions) Commodity derivative assets: Other current assets $ 14 $ 34 Other long-term assets 2 1 Interest rate derivative assets: Other current assets 1 1 Other long-term assets 2 1 Foreign currency derivative assets: Other current assets — 8 Total derivative assets $ 19 $ 45 Commodity derivative liabilities: Other current liabilities $ 104 $ 14 Other long-term liabilities 7 4 Interest rate derivative liabilities: Other long-term liabilities 166 22 Foreign currency derivative liabilities: Other current liabilities — 8 Total derivative liabilities $ 277 $ 48
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 $ 750 Three Month LIBOR 2.98% December 2048 (1) $ 100 1.76% Three Month LIBOR January 2019 (1) Mandatory settlement in December 2018.
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) Q3 2016 33,000 $ 48.37 65,000 $ 40.37 $ 46.91 18,500 $ 55.00 Q4 2016 30,000 $ 48.58 20,000 $ 40.85 $ 50.85 18,500 $ 55.00 Q1-Q4 2017 2,623 $ 51.79 7,248 $ 47.21 $ 57.21 — $ — Oil Basis Swaps Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Q3-Q4 2016 Western Canadian Select 41,500 $ (13.43 ) Q3-Q4 2016 West Texas Sour 5,000 $ (0.53 ) Q3-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) Q3 2016 140,000 $ 2.78 105,000 $ 2.57 $ 2.85 400,000 $ 2.80 Q4 2016 155,000 $ 2.83 275,000 $ 2.70 $ 2.90 400,000 $ 2.80 Q1-Q4 2017 79,397 $ 3.00 42,411 $ 2.96 $ 3.26 — $ — Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q3-Q4 2016 Panhandle Eastern Pipe Line 175,000 $ (0.34 ) Q3-Q4 2016 El Paso Natural Gas 125,000 $ (0.12 ) Q3-Q4 2016 Houston Ship Channel 30,000 $ 0.11 Q3-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 80,000 $ (0.13 ) Q1-Q4 2017 Houston Ship Channel 35,000 $ 0.06 Q1-Q4 2017 Transco Zone 4 205,000 $ 0.03
Open NGL Derivative Positions [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	Price Swaps Price Collars Period Product Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Q3-Q4 2016 Ethane 6,000 $ 9.34 10,500 $ 8.20 $ 9.46 Q3-Q4 2016 Propane — $ — 5,000 $ 19.61 $ 21.71
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 Q3 2016-Q4 2016 Ethane 273 MBbls $0.29/gal Index Q3 2016-Q2 2017 Propane 557 MBbls Index $0.72/gal Q3 2016-Q2 2017 Normal Butane 122 MBbls Index $0.58/gal Q3 2016-Q2 2017 Natural Gasoline 66 MBbls Index $0.95/gal Q3 2016-Q2 2017 Natural Gas 7,082 MMBtu/d Index $2.86/MMbtu Q4 2016 Condensate 50 MBbls Index $40.20/bbl

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule Of The Effects Of Share-Based Compensation Included In The Consolidated Comprehensive Statements Of Earnings	Six Months Ended June 30, 2016 2015 (Millions) Gross G&A for share-based compensation $ 80 $ 127 Share-based compensation expense capitalized pursuant to the full cost method of accounting for oil and gas properties $ 21 $ 31 Related income tax benefit $ 2 $ 26
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 4,299 $ 19.46 330 $ 19.22 1,388 $ 10.41 Vested (2,051 ) $ 62.50 (102 ) $ 62.55 (602 ) $ 63.37 Forfeited (121 ) $ 50.58 — $ — (7 ) $ 81.67 Unvested at 6/30/16 6,865 $ 35.74 662 $ 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) $ 170 $ 8 $ 34 Weighted average period for recognition (years) 2.6 2.5 1.8
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) $ 19 $ 4 $ 19 $ 4 Weighted average period for recognition (years) 1.7 2.0 1.8 2.0

Asset Impairments (Tables)

Asset Impairments (Tables)	6 Months Ended
	Jun. 30, 2016
Asset Impairment Charges [Abstract]
Components of Asset Impairments	Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 (Millions) U.S. oil and gas assets $ 885 $ 4,167 $ 2,493 $ 9,625 Canada oil and gas assets 612 — 1,166 — EnLink goodwill — — 873 — Other assets — 1 — 3 Total asset impairments $ 1,497 $ 4,168 $ 4,532 $ 9,628

Restructuring And Transaction32

Restructuring And Transaction Costs (Tables)	6 Months Ended
	Jun. 30, 2016
Restructuring And Related Activities [Abstract]
Schedule Of The Components Of Restructuring And Transaction Costs Included In The Consolidated Comprehensive Statement Of Earnings	June 30, 2016 Three Months Ended Six Months Ended (Millions) 2016 reduction in workforce: Employee-related costs $ 2 $ 236 Lease obligations 17 17 Asset impairments 3 3 Transaction costs 2 15 Restructuring and transaction costs $ 24 $ 271
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 107 13 120 Changes related to prior years' restructurings 3 (6 ) (3 ) Balance as June 30, 2016 $ 123 $ 70 $ 193 Balance as of December 31, 2014 $ 13 $ 7 $ 20 Changes related to prior years' restructurings (3 ) (2 ) (5 ) Balance as of June 30, 2015 $ 10 $ 5 $ 15

Income Taxes (Tables)

Income Taxes (Tables)	6 Months Ended
	Jun. 30, 2016
Income Tax Disclosure [Abstract]
Schedule Of Effective Income Tax Rate Reconciliation	Three Months Ended June 30, Six Months Ended June 30, 2016 2015 2016 2015 Total income tax benefit (millions) $ (182 ) $ (1,686 ) $ (399 ) $ (3,721 ) U.S. statutory income tax rate (35 %) (35 %) (35 %) (35 %) Deferred tax asset valuation allowance 27 % 0 % 24 % 0 % Non-deductible goodwill impairment 0 % 0 % 6 % 0 % Taxation on Canadian operations 3 % 1 % 2 % 1 % State income taxes (2 %) (2 %) (1 %) (2 %) Other (3 %) (2 %) (3 %) (1 %) Effective income tax rate (10 %) (38 %) (7 %) (37 %)

Net Loss Per Share Attributab34

Net Loss Per Share Attributable To Devon (Tables)	6 Months Ended
	Jun. 30, 2016
Earnings Per Share [Abstract]
Net Earnings (Loss) Per Share Computations	Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 (Millions, except per share amounts) Net loss: Net loss attributable to Devon $ (1,570 ) $ (2,816 ) $ (4,626 ) $ (6,415 ) Attributable to participating securities (1 ) (1 ) (1 ) (2 ) Basic and diluted loss $ (1,571 ) $ (2,817 ) $ (4,627 ) $ (6,417 ) Common shares: Common shares outstanding - total 524 411 502 411 Attributable to participating securities (6 ) (5 ) (6 ) (5 ) Common shares outstanding - basic 518 406 496 406 Dilutive effect of potential common shares issuable — — — — Common shares outstanding - diluted 518 406 496 406 Net loss per share attributable to Devon: Basic $ (3.04 ) $ (6.94 ) $ (9.33 ) $ (15.81 ) Diluted $ (3.04 ) $ (6.94 ) $ (9.33 ) $ (15.81 ) Antidilutive options (1) 3 3 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)	6 Months Ended
	Jun. 30, 2016
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Components Of Other Comprehensive Earnings	Three Months Ended Six Months Ended June 30, June 30, 2016 2015 2016 2015 (Millions) Foreign currency translation: Beginning accumulated foreign currency translation $ 447 $ 681 $ 424 $ 983 Change in cumulative translation adjustment 2 60 53 (277 ) Income tax benefit (expense) 1 (16 ) (27 ) 19 Ending accumulated foreign currency translation 450 725 450 725 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (190 ) (200 ) (194 ) (204 ) Recognition of net actuarial loss and prior service cost in earnings (1) 8 5 13 11 Income tax expense (3 ) (2 ) (4 ) (4 ) Ending accumulated pension and postretirement benefits (185 ) (197 ) (185 ) (197 ) Accumulated other comprehensive earnings, net of tax $ 265 $ 528 $ 265 $ 528 (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 S36

Supplemental Information To Statements Of Cash Flows (Tables)	6 Months Ended
	Jun. 30, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule Of Supplemental Information To Statements Of Cash Flows	Three Months Ended June Six Months Ended June 30, 2016 2015 2016 2015 (Millions) Net change in working capital accounts, net of assets and liabilities assumed: Accounts receivable $ (140 ) $ 36 $ 6 $ 440 Income taxes receivable (14 ) (9 ) 101 416 Other current assets (107 ) 87 144 (6 ) Accounts payable (30 ) (87 ) (151 ) (102 ) Revenues and royalties payable 95 53 (6 ) (183 ) Other current liabilities 43 (269 ) (49 ) (539 ) Net change in working capital $ (153 ) $ (189 ) $ 45 $ 26 Interest paid (net of capitalized interest) $ 174 $ 112 $ 289 $ 230 Income taxes paid (received) $ 5 $ 84 $ (123 ) $ (330 )

Accounts Receivable (Tables)

Accounts Receivable (Tables)	6 Months Ended
	Jun. 30, 2016
Accounts Receivable Net [Abstract]
Schedule Of Components Of Accounts Receivable	June 30, 2016 December 31, 2015 (Millions) Oil, gas and NGL sales $ 440 $ 362 Joint interest billings 107 211 Marketing and midstream revenues 552 520 Other 83 30 Gross accounts receivable 1,182 1,123 Allowance for doubtful accounts (15 ) (18 ) Net accounts receivable $ 1,167 $ 1,105

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	6 Months Ended
	Jun. 30, 2016
Other Liabilities Disclosure [Abstract]
Schedule Of Other Current Liabilities	June 30, 2016 December 31, 2015 (Millions) Installment payment - see Note 2 $ 236 $ — Accrued interest payable 150 149 Restructuring liabilities 123 13 Other 501 488 Other current liabilities $ 1,010 $ 650

Goodwill And Other Intangible39

Goodwill And Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill And Intangible Assets Disclosure [Abstract]
Schedule Of Other Intangible Assets	June 30, 2016 December 31, 2015 (Millions) Customer relationships $ 1,779 $ 745 Accumulated amortization (112 ) (55 ) Net intangibles $ 1,667 $ 690

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Schedule Of Debt Instruments	June 30, 2016 December 31, 2015 (Millions) Devon debt: Commercial paper $ — $ 626 Debentures and notes 9,425 9,425 Net discount on debentures and notes (27 ) (28 ) Debt issuance costs (55 ) (57 ) Total Devon debt 9,343 9,966 EnLink debt: Credit facilities 712 414 Debentures and notes 2,663 2,663 Net premium on debentures and notes 11 13 Debt issuance costs (22 ) (24 ) Total EnLink debt 3,364 3,066 Total debt 12,707 13,032 Less amount classified as short-term debt (1) 350 976 Total long-term debt $ 12,357 $ 12,056 (1) Short-term debt as of June 30, 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)	6 Months Ended
	Jun. 30, 2016
Asset Retirement Obligation Disclosure [Abstract]
Summary Of Changes In Asset Retirement Obligations	Six Months Ended June 30, 2016 2015 (Millions) Asset retirement obligations as of beginning of period $ 1,414 $ 1,399 Liabilities incurred and assumed through acquisitions 15 33 Liabilities settled and divested (51 ) (31 ) Revision of estimated obligation 70 61 Accretion expense on discounted obligation 39 38 Foreign currency translation adjustment 30 (45 ) Asset retirement obligations as of end of period 1,517 1,455 Less current portion 44 64 Asset retirement obligations, long-term $ 1,473 $ 1,391

Retirement Plans (Tables)

Retirement Plans (Tables)	6 Months Ended
	Jun. 30, 2016
Compensation And Retirement Disclosure [Abstract]
Schedule Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans	Pension Benefits Postretirement Benefits Three Months Ended Six Months Ended Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, 2016 2015 2016 2015 2016 2015 2016 2015 (Millions) Service cost $ 3 $ 8 $ 9 $ 16 $ — $ — $ — $ — Interest cost 11 13 23 26 — — — — Expected return on plan assets (13 ) (15 ) (26 ) (30 ) — — — — Amortization of prior service cost (1) 1 1 1 2 — (1 ) (1 ) (1 ) Net actuarial loss (1) 7 5 13 10 — — — — Net periodic benefit cost (2) $ 9 $ 12 $ 20 $ 24 $ — $ (1 ) $ (1 ) $ (1 ) (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 (Tables)

Stockholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2016
Stockholders Equity Note [Abstract]
Summary Of Dividends Paid On Common Stock	Amount Rate (Millions) (Per Share) Quarter Ended 2016: First quarter 2016 $ 125 $ 0.24 Second quarter 2016 33 $ 0.06 Total year-to-date $ 158 Quarter Ended 2015: First quarter 2015 $ 99 $ 0.24 Second quarter 2015 98 $ 0.24 Total year-to-date $ 197

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [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) June 30, 2016 assets (liabilities): Cash equivalents $ 1,241 $ 1,241 $ 1,163 $ 78 $ — Commodity derivatives $ 16 $ 16 $ — $ 16 $ — Commodity derivatives $ (111 ) $ (111 ) $ — $ (111 ) $ — Interest rate derivatives $ 3 $ 3 $ — $ 3 $ — Interest rate derivatives $ (166 ) $ (166 ) $ — $ (166 ) $ — Debt $ (12,707 ) $ (12,901 ) $ — $ (12,901 ) $ — Installment payment $ (447 ) $ (452 ) $ — $ (452 ) $ — Capital lease obligations $ (12 ) $ (12 ) $ — $ (12 ) $ — 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)	6 Months Ended
	Jun. 30, 2016
Segment Reporting [Abstract]
Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments	U.S. Canada EnLink Eliminations Total (Millions) Three Months Ended June 30, 2016: Revenues from external customers $ 1,365 $ 266 $ 857 $ — $ 2,488 Intersegment revenues $ — $ — $ 176 $ (176 ) $ — Depreciation, depletion and amortization $ 256 $ 103 $ 125 $ — $ 484 Interest expense $ 108 $ 33 $ 47 $ (23 ) $ 165 Asset impairments $ 885 $ 612 $ — $ — $ 1,497 Restructuring and transaction costs $ 19 $ 4 $ 1 $ — $ 24 Loss before income taxes $ (1,097 ) $ (647 ) $ (1 ) $ — $ (1,745 ) Income tax benefit $ (6 ) $ (174 ) $ (2 ) $ — $ (182 ) Net earnings (loss) $ (1,091 ) $ (473 ) $ 1 $ — $ (1,563 ) Net earnings attributable to noncontrolling interests $ 1 $ — $ 6 $ — $ 7 Net loss attributable to Devon $ (1,092 ) $ (473 ) $ (5 ) $ — $ (1,570 ) Capital expenditures, including acquisitions $ 284 $ 29 $ 139 $ — $ 452 Three Months Ended June 30, 2015: Revenues from external customers $ 1,930 $ 360 $ 1,103 $ — $ 3,393 Intersegment revenues $ — $ — $ 171 $ (171 ) $ — Depreciation, depletion and amortization $ 595 $ 121 $ 98 $ — $ 814 Interest expense $ 88 $ 23 $ 26 $ (11 ) $ 126 Asset impairments $ 4,168 $ — $ — $ — $ 4,168 Earnings (loss) before income taxes $ (4,498 ) $ (36 ) $ 55 $ — $ (4,479 ) Income tax expense (benefit) $ (1,736 ) $ 40 $ 10 $ — $ (1,686 ) Net earnings (loss) $ (2,762 ) $ (76 ) $ 45 $ — $ (2,793 ) Net earnings attributable to noncontrolling interests $ 1 $ — $ 22 $ — $ 23 Net earnings (loss) attributable to Devon $ (2,763 ) $ (76 ) $ 23 $ — $ (2,816 ) Capital expenditures, including acquisitions $ 887 $ 146 $ 158 $ — $ 1,191 Six Months Ended June 30, 2016: Revenues from external customers $ 2,667 $ 383 $ 1,564 $ — $ 4,614 Intersegment revenues $ — $ — $ 359 $ (359 ) $ — Depreciation, depletion and amortization $ 567 $ 212 $ 247 $ — $ 1,026 Interest expense $ 215 $ 67 $ 91 $ (43 ) $ 330 Asset impairments $ 2,493 $ 1,166 $ 873 $ — $ 4,532 Restructuring and transaction costs $ 255 $ 10 $ 6 $ — $ 271 Loss before income taxes $ (3,162 ) $ (1,396 ) $ (872 ) $ — $ (5,430 ) Income tax benefit $ (11 ) $ (382 ) $ (6 ) $ — $ (399 ) Net loss $ (3,151 ) $ (1,014 ) $ (866 ) $ — $ (5,031 ) Net earnings (loss) attributable to noncontrolling interests $ 1 $ — $ (406 ) $ — $ (405 ) Net loss attributable to Devon $ (3,152 ) $ (1,014 ) $ (460 ) $ — $ (4,626 ) Property and equipment, net $ 7,823 $ 2,832 $ 6,160 $ — $ 16,815 Total assets $ 12,856 $ 4,283 $ 10,162 $ (57 ) $ 27,244 Capital expenditures, including acquisitions $ 2,177 $ 110 $ 684 $ — $ 2,971 Six Months Ended June 30, 2015: Revenues from external customers $ 4,189 $ 581 $ 1,888 $ — $ 6,658 Intersegment revenues $ — $ — $ 327 $ (327 ) $ — Depreciation, depletion and amortization $ 1,307 $ 248 $ 189 $ — $ 1,744 Interest expense $ 175 $ 48 $ 45 $ (23 ) $ 245 Asset impairments $ 9,628 $ — $ — $ — $ 9,628 Earnings (loss) before income taxes $ (9,986 ) $ (208 ) $ 91 $ — $ (10,103 ) Income tax expense (benefit) $ (3,729 ) $ (13 ) $ 21 $ — $ (3,721 ) Net earnings (loss) $ (6,257 ) $ (195 ) $ 70 $ — $ (6,382 ) Net earnings attributable to noncontrolling interests $ 1 $ — $ 32 $ — $ 33 Net earnings (loss) attributable to Devon $ (6,258 ) $ (195 ) $ 38 $ — $ (6,415 ) Property and equipment, net $ 15,852 $ 6,422 $ 5,550 $ — $ 27,824 Total assets $ 21,897 $ 7,637 $ 11,103 $ (111 ) $ 40,526 Capital expenditures, including acquisitions $ 2,231 $ 370 $ 672 $ — $ 3,273

Restructuring And Transaction46

Restructuring And Transaction Costs (Schedule Of The Components Of Restructuring And Transaction Costs Included In The Comprehensive Consolidated Statements Of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	$ 24	$ 271
Employee Related Costs [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	2	236
Lease Obligations [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	17	17
Asset Impairments [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	3	3
Transaction Costs [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	$ 2	$ 15

Restructuring And Transaction47

Restructuring And Transaction Costs (Schedule Of The Activity And Balances Associated With Restructuring Liabilities) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Restructuring Cost And Reserve [Line Items]
Beginning balance	$ 76	$ 20
Ending balance	193	15
Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	120
Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(3)	(5)
Other Current Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	13	13
Ending balance	123	10
Other Current Liabilities [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	107
Other Current Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	3	(3)
Other Long-Term Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	63	7
Ending balance	70	5
Other Long-Term Liabilities [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	13
Other Long-Term Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	$ (6)	$ (2)

Other Comprehensive Earnings (C

Other Comprehensive Earnings (Components Of Other Comprehensive Earnings) (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Foreign currency translation:
Beginning accumulated foreign currency translation		$ 447	$ 681	$ 424	$ 983
Change in cumulative translation adjustment		2	60	53	(277)
Income tax benefit (expense)		1	(16)	(27)	19
Ending accumulated foreign currency translation		450	725	450	725
Pension and postretirement benefit plans:
Beginning accumulated pension and postretirement benefits		(190)	(200)	(194)	(204)
Recognition of net actuarial loss and prior service cost in earnings	[1]	8	5	13	11
Income tax expense		(3)	(2)	(4)	(4)
Ending accumulated pension and postretirement benefits		(185)	(197)	(185)	(197)
Accumulated other comprehensive earnings, net of tax		$ 265	$ 528	$ 265	$ 528	$ 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.

Debt (Schedule Of Debt Instrume

Debt (Schedule Of Debt Instruments) (Details) - USD ($) $ in Millions		Jun. 30, 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		(27)	(28)
Debt issuance costs		(55)	(57)
Total debt		12,707	13,032
Less amount classified as short-term debt	[1]	350	976
Total long-term debt		12,357	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		9,343	9,966
EnLink [Member]
Debt Instrument [Line Items]
Debentures and notes		2,663	2,663
Net (discount) premium on debentures and notes		11	13
Debt issuance costs		(22)	(24)
Total debt		3,364	3,066
Credit facilities		$ 712	$ 414
[1]	Short-term debt as of June 30, 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.

Acquisitions And Divestitures (

Acquisitions And Divestitures (Narrative) (Details) $ in Millions, CAD in Billions	Aug. 03, 2016USD ($)	Aug. 01, 2016USD ($)	Jun. 30, 2016USD ($)MMBoe	Jan. 07, 2016USD ($)a	Jul. 31, 2016USD ($)	Jul. 31, 2016CAD	Jun. 30, 2016USD ($)MMBoePurchaser	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)MMBoe	Jun. 30, 2015USD ($)
Business Acquisition [Line Items]
Divestitures of property and equipment							$ 191	$ 6	$ 209	$ 8
Cash held for pending transactions			$ 95				$ 95		$ 95
Mississippian Assets [Member]
Business Acquisition [Line Items]
Divestitures of property and equipment			$ 200
Estimated proved reserves | MMBoe			11				11		11
East Texas, Anadarko Basin and Midland Basin [Member] | Scenario Plan [Member]
Business Acquisition [Line Items]
Divestitures of property and equipment							$ 1,800
Number of purchasers | Purchaser							5
Maximum [Member] | Mississippian Assets [Member] | US [Member]
Business Acquisition [Line Items]
Percentage of Estimated proved reserves associated with divestiture assets			1.00%				1.00%		1.00%
Installment Payable, Current [Member]
Business Acquisition [Line Items]
Installment payment			$ 236				$ 236		$ 236
Subsequent Event [Member] | East Texas, Anadarko Basin, Midland Basin and Mississippian [Member]
Business Acquisition [Line Items]
Divestitures closed	$ 1,200
Subsequent Event [Member] | Access Pipeline [Member]
Business Acquisition [Line Items]
Divestitures of property and equipment					$ 1,100	CAD 1.4
Divestiture agreement dedication initial term					25 years	25 years
Subsequent Event [Member] | Maximum [Member] | Access Pipeline [Member] | Scenario Plan [Member]
Business Acquisition [Line Items]
Expected gain upon closing of the sale					$ 600
Subsequent Event [Member] | Minimum [Member] | Access Pipeline [Member] | Scenario Plan [Member]
Business Acquisition [Line Items]
Expected gain upon closing of the sale					$ 400
EnLink [Member]
Business Acquisition [Line Items]
Joint venture formation date									Aug. 1, 2016
EnLink [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Ownership interest percentage acquired		50.10%
Contribution of assets to joint venture		$ 230
Additional capital to fund potential future development projects		$ 285
Call rights to acquire increasing portions of joint venture partner’s interest, start year		2,021
Equity Issued in Business Combination [Member] | EnLink [Member]
Business Acquisition [Line Items]
Equity units value										$ 360
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
Cash payment to acquire interest				847
Unproved properties			$ 1,300				1,300		$ 1,300
Proved properties			$ 200				200		200
STACK [Member] | Common Stock [Member] | Equity Issued in Business Combination [Member]
Business Acquisition [Line Items]
Equity units value				659
Anadarko Basin [Member] | EnLink [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
Commitment to pay cash due date				1 year
Installment payable, noncurrent			$ 250				250		250
Intangible assets			1,000				1,000		1,000
Property and equipment			420				420		420
Anadarko Basin [Member] | EnLink [Member] | Installment Payable, Noncurrent [Member]
Business Acquisition [Line Items]
Commitment to pay cash due date				24 months
Installment payable, noncurrent				$ 250
Anadarko Basin [Member] | EnLink [Member] | Installment Payable, Current [Member] | Undiscounted [Member]
Business Acquisition [Line Items]
Installment payment			$ 250				$ 250		$ 250
Anadarko Basin [Member] | Common Stock [Member] | Equity Issued in Business Combination [Member] | General Partner [Member]
Business Acquisition [Line Items]
Equity units value				$ 215
Joint Venture Partner [Member] | EnLink [Member] | Subsequent Event [Member]
Business Acquisition [Line Items]
Ownership interest percentage acquired		49.90%
Additional capital to fund potential future development projects		$ 400
Initial contribution		$ 115

Derivative Financial Instrume51

Derivative Financial Instruments (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivative [Line Items]
Other receivables	$ 83	$ 30
Derivative collateral held		75
Accrued Derivative Settlements [Member]
Derivative [Line Items]
Other receivables		$ 236

Derivative Financial Instrume52

Derivative Financial Instruments (Schedule Of Open Oil Derivative Positions) (Details)	6 Months Ended
	Jun. 30, 2016$ / bblbbl
NYMEX West Texas Intermediate Price Swaps Oil Q3 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	33,000
Weighted Average Price Swap	48.37
NYMEX West Texas Intermediate Price Swaps Oil Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	30,000
Weighted Average Price Swap	48.58
NYMEX West Texas Intermediate Price Swaps Oil Q1-Q4 2017 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	2,623
Weighted Average Price Swap	51.79
NYMEX West Texas Intermediate Price Collars Oil Q3 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	65,000
Weighted Average Floor Price	40.37
Weighted Average Ceiling Price	46.91
NYMEX West Texas Intermediate Price Collars Oil Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	20,000
Weighted Average Floor Price	40.85
Weighted Average Ceiling Price	50.85
NYMEX West Texas Intermediate Price Collars Oil Q1-Q4 2017 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	7,248
Weighted Average Floor Price	47.21
Weighted Average Ceiling Price	57.21
NYMEX West Texas Intermediate Call Options Sold Oil Q3 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	18,500
Weighted Average Call Option Sold Price	55
NYMEX West Texas Intermediate Call Options Sold Oil Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	18,500
Weighted Average Call Option Sold Price	55
Western Canadian Select Basis Swaps Oil Q3-Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	41,500
Weighted Average Differential To WTI	(13.43)
West Texas Sour Basis Swaps Oil Q3-Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	5,000
Weighted Average Differential To WTI	(0.53)
Midland Sweet Basis Swaps Oil Q3-Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	13,000
Weighted Average Differential To WTI	0.25

Derivative Financial Instrume53

Derivative Financial Instruments (Schedule Of Open Natural Gas Derivative Positions) (Details)	6 Months Ended
	Jun. 30, 2016MMBTU$ / MMBTU
FERC Henry Hub Price Swaps Natural Gas Q3 2016 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	140,000
Weighted Average Price Swap	2.78
FERC Henry Hub Price Swaps Natural Gas Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	155,000
Weighted Average Price Swap	2.83
FERC Henry Hub Price Swaps Natural Gas Q1-Q4 2017 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	79,397
Weighted Average Price Swap	3
FERC Henry Hub Price Collars Natural Gas Q3 2016 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	105,000
Weighted Average Floor Price	2.57
Weighted Average Ceiling Price	2.85
FERC Henry Hub Price Collars Natural Gas Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	275,000
Weighted Average Floor Price	2.70
Weighted Average Ceiling Price	2.90
FERC Henry Hub Price Collars Natural Gas Q1-Q4 2017 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	42,411
Weighted Average Floor Price	2.96
Weighted Average Ceiling Price	3.26
FERC Henry Hub Call Options Sold Natural Gas Q3 2016 [Member]
Derivative [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]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	400,000
Weighted Average Call Option Sold Price	2.80
PEPL Basis Swaps Natural Gas Q3-Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	175,000
Weighted Average Differential To Henry Hub	(0.34)
El Paso Natural Gas Basis Swaps Q3-Q4 2016 [Member]
Derivative [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 Q3-Q4 2016 [Member]
Derivative [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 Q3-Q4 2016 [Member]
Derivative [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]
Derivative [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]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	80,000
Weighted Average Differential To Henry Hub	(0.13)
Houston Ship Channel Natural Gas Basis Swaps Q1-Q4 2017 [Member]
Derivative [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]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	205,000
Weighted Average Differential To Henry Hub	0.03

Derivative Financial Instrume54

Derivative Financial Instruments (Schedule Of Open NGL Derivative Positions) (Details)	6 Months Ended
	Jun. 30, 2016$ / bblbbl
OPIS Mont Belvieu Texas Ethane Price Swaps NGL Q3-Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	6,000
Weighted Average Price Swap	9.34
OPIS Mont Belvieu Texas Ethane Price Collars NGL Q3-Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	10,500
Weighted Average Floor Price	8.20
Weighted Average Ceiling Price	9.46
OPIS Mont Belvieu Texas Propane Price Collars NGL Q3-Q4 2016 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	5,000
Weighted Average Floor Price	19.61
Weighted Average Ceiling Price	21.71

Derivative Financial Instrume55

Derivative Financial Instruments (Schedule Of Gas Processing and Fractionation Open Positions) (Details) - EnLink [Member]	6 Months Ended
	Jun. 30, 2016MMBTU$ / bbl$ / MMBTU$ / galMBbls
OPIS Mont Belvieu Texas Ethane Basis Swap Q3 2016-Q4 2016 [Member]
Derivative [Line Items]
Volume (MBbls)	273
Weighted average price paid | $ / gal	0.29
Weighted average price received	Index
OPIS Mont Belvieu Texas Propane Basis Swap Q3 2016-Q2 2017 [Member]
Derivative [Line Items]
Volume (MBbls)	557
Weighted average price paid	Index
Weighted average price received | $ / gal	0.72
OPIS Mont Belvieu Texas Normal Butane Basis Swap Q3 2016-Q2 2017 [Member]
Derivative [Line Items]
Volume (MBbls)	122
Weighted average price paid	Index
Weighted average price received | $ / gal	0.58
OPIS Mont Belvieu Texas Natural Gasoline Basis Swap Q3 2016-Q2 2017 [Member]
Derivative [Line Items]
Volume (MBbls)	66
Weighted average price paid	Index
Weighted average price received | $ / gal	0.95
Henry Hub Natural Gas Basis Swap Q3 2016-Q2 2017 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	7,082
Weighted average price paid	Index
Weighted average price received, $/MMBtu | $ / MMBTU	2.86
OPIS Mont Belvieu Texas Condensate Basis Swap Q4 2016 [Member]
Derivative [Line Items]
Volume (MBbls)	50
Weighted average price paid	Index
Weighted average price received | $ / bbl	40.20

Derivative Financial Instrume56

Derivative Financial Instruments (Schedule Of Open Interest Rate Swap Derivative Positions) (Details) $ in Millions	6 Months Ended
	Jun. 30, 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 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]
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
[1]	Mandatory settlement in December 2018.

Derivative Financial Instrume57

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Comprehensive Statements Of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Derivatives Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ (223)	$ (305)	$ (417)	$ 125
Commodity Derivatives [Member] | Oil, Gas And NGL Derivatives [Member]
Derivatives Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	(142)	(282)	(109)	12
Commodity Derivatives [Member] | Marketing And Midstream Revenues [Member]
Derivatives Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	(6)		(6)	2
Interest Rate Derivatives [Member] | Other Nonoperating Items [Member]
Derivatives Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	(71)	1	(143)	2
Foreign Currency Derivatives [Member] | Other Nonoperating Items [Member]
Derivatives Fair Value [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ (4)	$ (24)	$ (159)	$ 109

Derivative Financial Instrume58

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Derivatives Fair Value [Line Items]
Fair value of derivative assets	$ 19	$ 45
Fair value of derivative liabilities	277	48
Commodity Derivatives [Member] | Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	14	34
Commodity Derivatives [Member] | Other Long-Term Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	2	1
Commodity Derivatives [Member] | Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	104	14
Commodity Derivatives [Member] | Other Long-Term Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	7	4
Interest Rate Derivatives [Member] | Other Current Assets [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	2	1
Interest Rate Derivatives [Member] | Other Long-Term Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	$ 166	22
Foreign Currency Derivatives [Member] | Other Current Assets [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		$ 8

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016	Jun. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit-based compensation		$ 80	$ 127
Restructuring and transaction costs	$ 24	271
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
EnLink [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit-based compensation		$ 12	$ 18

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	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Share Based Compensation [Abstract]
Gross G&A for share-based compensation	$ 80	$ 127
Share-based compensation expense capitalized pursuant to the full cost method of accounting for oil and gas properties	21	31
Related income tax benefit	$ 2	$ 26

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	6 Months Ended
	Jun. 30, 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	4,299
Vested, awards and units | shares	(2,051)
Forfeited, awards and units | shares	(121)
Unvested at June 30, 2016 | shares	6,865
Unvested weighted average grant-date fair value at December 31, 2015 | $ / shares	$ 62.49
Granted, weighted average grant-date fair value | $ / shares	19.46
Vested, weighted average grant-date fair value | $ / shares	62.50
Forfeited, weighted average grant-date fair value | $ / shares	50.58
Unvested weighted average grant-date fair value at June 30, 2016 | $ / shares	$ 35.74
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)
Unvested at June 30, 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
Unvested weighted average grant-date fair value at June 30, 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 June 30, 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 June 30, 2016 | $ / shares	$ 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.

Share-Based Compensation (Sum62

Share-Based Compensation (Summary Of Unvested Restricted Stock Awards and Units, Performance-Based Restricted Stock Awards And Performance Share Units) (Parenthetical) (Details) shares in Millions	6 Months Ended
	Jun. 30, 2016shares
Performance Share Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum common shares that could be awarded based upon total shareholder return	5.3

Share-Based Compensation (Sum63

Share-Based Compensation (Summary Of Performance Share Units Grant-Date Fair Values And Their Related Assumptions) (Details) - Performance Share Units [Member]	6 Months Ended
	Jun. 30, 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 (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 (Sum64

Share-Based Compensation (Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 170
Weighted average period for recognition (years)	2 years 7 months 6 days
Performance-Based Restricted Stock Awards [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 8
Weighted average period for recognition (years)	2 years 6 months
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 34
Weighted average period for recognition (years)	1 year 9 months 18 days

Share-Based Compensation (Sum65

Share-Based Compensation (Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition General Partner And EnLink) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 170
Weighted average period for recognition (years)	2 years 7 months 6 days
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 34
Weighted average period for recognition (years)	1 year 9 months 18 days
General Partner [Member] | Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 19
Weighted average period for recognition (years)	1 year 8 months 12 days
General Partner [Member] | Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 4
Weighted average period for recognition (years)	2 years
EnLink [Member] | Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 19
Weighted average period for recognition (years)	1 year 9 months 18 days
EnLink [Member] | Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost (millions)	$ 4
Weighted average period for recognition (years)	2 years

Asset Impairments (Components o

Asset Impairments (Components of Asset Impairments) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	$ 1,497		$ 4,168	$ 4,532	$ 9,628
U.S. Oil And Gas Assets [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	885		4,167	2,493	9,625
Canada Oil And Gas Assets [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges	$ 612			1,166
Other Assets [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Asset impairment charges			$ 1		$ 3
General Partner And EnLink [Member]
Impaired Long-Lived Assets Held and Used [Line Items]
Goodwill, impairment loss		$ 873		$ 873

Restructuring and Transaction67

Restructuring and Transaction Costs (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2016
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	$ 24	$ 271
Employee Related Costs [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	2	236
Accelerated Vesting Of Share-Based Grants For Employees [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs		67
Estimated Defined Benefit Settlements [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs		30
Lease Obligations [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	17	17
Asset Impairments [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	$ 3	$ 3

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Total income tax benefit (millions)	$ (182)	$ (1,686)	$ (399)	$ (3,721)
U.S. statutory income tax rate	(35.00%)	(35.00%)	(35.00%)	(35.00%)
Deferred tax asset valuation allowance	27.00%	0.00%	24.00%	0.00%
Non-deductible goodwill impairment	0.00%	0.00%	6.00%	0.00%
Taxation on Canadian operations	3.00%	1.00%	2.00%	1.00%
State income taxes	(2.00%)	(2.00%)	(1.00%)	(2.00%)
Other	(3.00%)	(2.00%)	(3.00%)	(1.00%)
Effective income tax rate	(10.00%)	(38.00%)	(7.00%)	(37.00%)

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Income Tax [Line Items]
Valuation allowance against U.S. deferred tax assets, percent			100.00%
Deferred tax assets, valuation allowance		$ 1,300	$ 967
General Partner And EnLink [Member]
Income Tax [Line Items]
Goodwill impairments	$ 873	$ 873

Net Loss Per Share Attributab70

Net Loss Per Share Attributable To Devon (Earnings Per Share Computations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net loss:
Net loss attributable to Devon		$ (1,570)	$ (2,816)	$ (4,626)	$ (6,415)
Attributable to participating securities		(1)	(1)	(1)	(2)
Basic and diluted loss		$ (1,571)	$ (2,817)	$ (4,627)	$ (6,417)
Common shares:
Common shares outstanding - total		524	411	502	411
Attributable to participating securities		(6)	(5)	(6)	(5)
Common shares outstanding - basic		518	406	496	406
Common shares outstanding - diluted		518	406	496	406
Net loss per share attributable to Devon:
Basic		$ (3.04)	$ (6.94)	$ (9.33)	$ (15.81)
Diluted		$ (3.04)	$ (6.94)	$ (9.33)	$ (15.81)
Antidilutive options	[1]	3	3	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.

Supplemental Information To S71

Supplemental Information To Statements Of Cash Flows (Schedule Of Supplemental Information To Statements Of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Net change in working capital accounts, net of assets and liabilities assumed:
Accounts receivable	$ (140)	$ 36	$ 6	$ 440
Income taxes receivable	(14)	(9)	101	416
Other current assets	(107)	87	144	(6)
Accounts payable	(30)	(87)	(151)	(102)
Revenues and royalties payable	95	53	(6)	(183)
Other current liabilities	43	(269)	(49)	(539)
Net change in working capital	(153)	(189)	45	26
Interest paid (net of capitalized interest)	174	112	289	230
Income taxes paid (received)	$ 5	$ 84	$ (123)	$ (330)

Supplemental Information To S72

Supplemental Information To Statements Of Cash Flows (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2015USD ($)
Equity Issued in Business Combination [Member] | EnLink [Member]
Supplemental Cash Flow [Line Items]
Noncash common stock issuance in acquisition, value	$ 360

Accounts Receivable (Schedule O

Accounts Receivable (Schedule Of Components Of Accounts Receivable) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Accounts, Notes, Loans and Financing Receivable [Line Items]
Joint interest billings	$ 107	$ 211
Other	83	30
Gross accounts receivable	1,182	1,123
Allowance for doubtful accounts	(15)	(18)
Net accounts receivable	1,167	1,105
Oil, Gas And NGL Sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	440	362
Marketing And Midstream Revenues [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	$ 552	$ 520

Other Current Liabilities (Sche

Other Current Liabilities (Schedule Of Other Current Liabilities) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Other Liabilities, Current [Abstract]
Accrued interest payable	$ 150	$ 149
Restructuring liabilities	123	13
Other	501	488
Other current liabilities	1,010	$ 650
Installment Payable, Current [Member]
Other Liabilities, Current [Abstract]
Installment payment - see Note 2	$ 236

Goodwill And Other Intangible75

Goodwill And Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Goodwill [Line Items]
Weighted average amortization period, other intangible assets				14 years
Amortization expense of intangible assets	$ 30		$ 18	$ 58	$ 30
Amortization Expense, Next Five Years				117
General Partner And EnLink [Member]
Goodwill [Line Items]
Goodwill impairments		$ 873		$ 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 Intangible76

Goodwill And Other Intangible Assets (Schedule Of Other Intangible Assets) (Details) - USD ($) $ in Millions	Jun. 30, 2016	Dec. 31, 2015
Goodwill And Intangible Assets Disclosure [Abstract]
Customer relationships	$ 1,779	$ 745
Accumulated amortization	(112)	(55)
Net intangibles	$ 1,667	$ 690

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2016USD ($)	Jul. 31, 2016USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Debt issuance costs	$ 55		$ 57
Repayment of commercial paper	626
Commercial paper	0		626
EnLink [Member]
Debt Instrument [Line Items]
Debt issuance costs	22		24
Outstanding credit facility borrowings	712		414
EnLink [Member] | Subsequent Event [Member] | 4.85% Unsecured Senior Notes Due 2026 [Member]
Debt Instrument [Line Items]
Principal amount of senior notes issued		$ 500
Interest rate, stated percentage		4.85%
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	3,000
Outstanding credit facility borrowings	$ 0
Debt-to-capitalization ratio	0.231
Outstanding letters of credit	$ 66
Unsecured Revolving Credit Facility [Member] | EnLink [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	1,500
Outstanding credit facility borrowings	697
Outstanding letters of credit	$ 11
Line of credit average interest rate during period	2.12%
Revolving Credit Facility [Member] | General Partner [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	$ 250
Outstanding credit facility borrowings	$ 15
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

Asset Retirement Obligations (S

Asset Retirement Obligations (Summary Of Changes In Asset Retirement Obligations) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations as of beginning of period	$ 1,414	$ 1,399
Liabilities incurred and assumed through acquisitions	15	33
Liabilities settled and divested	(51)	(31)
Revision of estimated obligation	70	61
Accretion expense on discounted obligation	39	38
Foreign currency translation adjustment	30	(45)
Asset retirement obligations as of end of period	1,517	1,455
Less current portion	44	64
Asset retirement obligations, long-term	$ 1,473	$ 1,391	$ 1,370

Asset Retirement Obligations (N

Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Asset Retirement Obligations [Line Items]
Liabilities settled and divested	$ (51)	$ (31)
Non-Core Upstream U.S. Assets [Member]
Asset Retirement Obligations [Line Items]
Liabilities settled and divested	$ (35)

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		6 Months Ended
		Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Pension Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 3	$ 8	$ 9	$ 16
Interest cost		11	13	23	26
Expected return on plan assets		(13)	(15)	(26)	(30)
Amortization of prior service cost	[1]	1	1	1	2
Net actuarial loss	[1]	7	5	13	10
Net periodic benefit cost	[2]	$ 9	12	20	24
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Amortization of prior service cost	[1]		(1)	(1)	(1)
Net periodic benefit cost	[2]		$ (1)	$ (1)	$ (1)
[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				6 Months Ended
	Feb. 29, 2016	Jan. 31, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016
Stockholders Equity [Abstract]
Net proceeds from offering							$ 1,469
Dividends paid per share			$ 0.06	$ 0.24	$ 0.24	$ 0.24
Common Stock [Member]
Stockholders Equity [Abstract]
Common stock, shares issued							103
Common Stock Offering [Member]
Stockholders Equity [Abstract]
Common stock, shares issued	79
Net proceeds from offering	$ 1,500
Common Stock Offering [Member] | Underwriters [Member]
Stockholders Equity [Abstract]
Common stock, shares issued	10
Equity Issued in Business Combination [Member] | Common Stock [Member] | STACK [Member]
Stockholders Equity [Abstract]
Units issued for acquisition		23

Stockholders' Equity (Summary O

Stockholders' Equity (Summary Of Dividends Paid On Common Stock) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2015	Mar. 31, 2015	Jun. 30, 2016	Jun. 30, 2015
Stockholders Equity Note [Abstract]
Common stock dividends paid, Amount	$ 33	$ 125	$ 98	$ 99	$ 158	$ 197
Common stock dividends, rate per share	$ 0.06	$ 0.24	$ 0.24	$ 0.24

Noncontrolling Interests (Narra

Noncontrolling Interests (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015	Dec. 31, 2015
Noncontrolling Interest [Line Items]
Net proceeds from common units sold	$ 49	$ 2	$ 776	$ 4
Distributions to unitholders other than Devon	$ 74	$ 65	$ 147	118
EnLink [Member]
Noncontrolling Interest [Line Items]
Common units issued by EnLink			3
Net proceeds from common units sold			$ 52
Ownership interest by Devon	24.00%		24.00%		28.00%
General Partner [Member]
Noncontrolling Interest [Line Items]
Ownership interest by Devon	64.00%		64.00%		70.00%
General Partner And EnLink [Member]
Noncontrolling Interest [Line Items]
Distributions to unitholders other than Devon			$ 147	$ 118

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	Jun. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	$ 19	$ 45
Derivatives, liabilities	(277)	(48)
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,241	1,871
Debt	(12,707)	(13,032)
Installment payment	(447)
Capital lease obligations	(12)	(17)
Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,241	1,871
Debt	(12,901)	(11,927)
Installment payment	(452)
Capital lease obligations	(12)	(16)
Level 1 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	1,163	1,471
Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	78	400
Debt	(12,901)	(11,927)
Installment payment	(452)
Capital lease obligations	(12)	(16)
Commodity Derivatives [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	16	35
Derivatives, liabilities	(111)	(18)
Commodity Derivatives [Member] | Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	16	35
Derivatives, liabilities	(111)	(18)
Commodity Derivatives [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	16	35
Derivatives, liabilities	(111)	(18)
Interest Rate Derivatives [Member] | Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	3	2
Derivatives, liabilities	(166)	(22)
Interest Rate Derivatives [Member] | Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	3	2
Derivatives, liabilities	(166)	(22)
Interest Rate Derivatives [Member] | Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	3	2
Derivatives, liabilities	$ (166)	(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		(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		(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		$ (8)

Segment information (Condensed

Segment information (Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments) (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2016USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2016USD ($)segment	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Segment Reporting Information [Line Items]
Revenues from external customers	$ 2,488	$ 3,393	$ 4,614	$ 6,658
Depreciation, depletion and amortization	484	814	1,026	1,744
Interest expense	165	126	330	245
Asset impairments	1,497	4,168	4,532	9,628
Restructuring and transaction costs	24		271
Earnings (loss) before income taxes	(1,745)	(4,479)	(5,430)	(10,103)
Income tax expense (benefit)	(182)	(1,686)	(399)	(3,721)
Net earnings (loss)	(1,563)	(2,793)	(5,031)	(6,382)
Net earnings (loss) attributable to noncontrolling interests	7	23	(405)	33
Net earnings (loss) attributable to Devon	(1,570)	(2,816)	(4,626)	(6,415)
Property and equipment, net	16,815	27,824	16,815	27,824	$ 19,068
Total assets	27,244	40,526	27,244	40,526	$ 29,451
Capital expenditures, including acquisitions	452	1,191	2,971	3,273
Eliminations [Member]
Segment Reporting Information [Line Items]
Interest expense	(23)	(11)	(43)	(23)
Total assets	(57)	(111)	(57)	(111)
Eliminations [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	(176)	(171)	$ (359)	(327)
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	1,365	1,930	$ 2,667	4,189
Depreciation, depletion and amortization	256	595	567	1,307
Interest expense	108	88	215	175
Asset impairments	885	4,168	2,493	9,628
Restructuring and transaction costs	19		255
Earnings (loss) before income taxes	(1,097)	(4,498)	(3,162)	(9,986)
Income tax expense (benefit)	(6)	(1,736)	(11)	(3,729)
Net earnings (loss)	(1,091)	(2,762)	(3,151)	(6,257)
Net earnings (loss) attributable to noncontrolling interests	1	1	1	1
Net earnings (loss) attributable to Devon	(1,092)	(2,763)	(3,152)	(6,258)
Property and equipment, net	7,823	15,852	7,823	15,852
Total assets	12,856	21,897	12,856	21,897
Capital expenditures, including acquisitions	284	887	2,177	2,231
Canada [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	266	360	383	581
Depreciation, depletion and amortization	103	121	212	248
Interest expense	33	23	67	48
Asset impairments	612		1,166
Restructuring and transaction costs	4		10
Earnings (loss) before income taxes	(647)	(36)	(1,396)	(208)
Income tax expense (benefit)	(174)	40	(382)	(13)
Net earnings (loss)	(473)	(76)	(1,014)	(195)
Net earnings (loss) attributable to Devon	(473)	(76)	(1,014)	(195)
Property and equipment, net	2,832	6,422	2,832	6,422
Total assets	4,283	7,637	4,283	7,637
Capital expenditures, including acquisitions	29	146	110	370
General Partner And EnLink [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	857	1,103	1,564	1,888
Depreciation, depletion and amortization	125	98	247	189
Interest expense	47	26	91	45
Asset impairments			873
Restructuring and transaction costs	1		6
Earnings (loss) before income taxes	(1)	55	(872)	91
Income tax expense (benefit)	(2)	10	(6)	21
Net earnings (loss)	1	45	(866)	70
Net earnings (loss) attributable to noncontrolling interests	6	22	(406)	32
Net earnings (loss) attributable to Devon	(5)	23	(460)	38
Property and equipment, net	6,160	5,550	6,160	5,550
Total assets	10,162	11,103	10,162	11,103
Capital expenditures, including acquisitions	139	158	684	672
General Partner And EnLink [Member] | Operating Segments [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	$ 176	$ 171	$ 359	$ 327