Devon Energy (DVN) 10-Q 2 May 18 2018 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Millions	3 Months Ended
	Mar. 31, 2018	Apr. 18, 2018
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2018
Amendment Flag	false
Trading Symbol	DVN
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	2,018
Entity Filer Category	Large Accelerated Filer
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding		523.4

Consolidated Comprehensive Stat

Consolidated Comprehensive Statements Of Earnings - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Statement [Abstract]
Upstream revenues	$ 1,319	$ 1,541
Marketing and midstream revenues	2,491	2,010
Total revenues	3,810	3,551
Production expenses	543	457
Exploration expenses	33	95
Marketing and midstream expenses	2,214	1,814
Depreciation, depletion and amortization	537	528
Asset impairments		7
Asset dispositions	(12)	(3)
General and administrative expenses	226	231
Financing costs, net	431	128
Other expenses	19	(31)
Total expenses	3,991	3,226
Earnings (loss) before income taxes	(181)	325
Income tax expense (benefit)	(28)	8
Net earnings (loss)	(153)	317
Net earnings attributable to noncontrolling interests	44	14
Net earnings (loss) attributable to Devon	$ (197)	$ 303
Net earnings (loss) per share attributable to Devon:
Basic	$ (0.38)	$ 0.58
Diluted	$ (0.38)	$ 0.58
Comprehensive earnings (loss):
Net earnings (loss)	$ (153)	$ 317
Other comprehensive earnings, net of tax:
Foreign currency translation and other	(48)	8
Pension and postretirement plans	4	5
Other comprehensive earnings, net of tax	(44)	13
Comprehensive earnings (loss)	(197)	330
Comprehensive earnings attributable to noncontrolling interests	44	14
Comprehensive earnings (loss) attributable to Devon	$ (241)	$ 316

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Cash flows from operating activities:
Net earnings (loss)	$ (153)	$ 317
Adjustments to reconcile net earnings to net cash from operating activities:
Depreciation, depletion and amortization	537	528
Asset impairments		7
Leasehold impairments	8	42
Accretion on discounted liabilities	16	24
Total (gains) losses on commodity derivatives	41	(232)
Cash settlements on commodity derivatives	11	8
Gain on asset dispositions	(12)	(3)
Deferred income taxes	(32)	(12)
Share-based compensation	44	55
Early retirement of debt	312
Other	26	(24)
Changes in assets and liabilities, net	6	36
Net cash from operating activities	804	746
Cash flows from investing activities:
Capital expenditures	(832)	(653)
Acquisitions of property and equipment	(6)	(20)
Divestitures of property and equipment	48	32
Proceeds from sale of investment		190
Other		(3)
Net cash from investing activities	(790)	(454)
Cash flows from financing activities:
Borrowings of long-term debt, net of issuance costs	801	813
Repayments of long-term debt principal	(1,236)	(587)
Payment of installment payable	(250)	(250)
Early retirement of debt	(304)
Issuance of subsidiary units	1	55
Repurchases of common stock	(71)
Dividends paid on common stock	(32)	(32)
Contributions from noncontrolling interests	23	21
Distributions to noncontrolling interests	(102)	(81)
Shares exchanged for tax withholdings	(43)	(61)
Other		(2)
Net cash from financing activities	(1,213)	(124)
Effect of exchange rate changes on cash	(15)	(8)
Net change in cash, cash equivalents and restricted cash	(1,214)	160
Cash, cash equivalents and restricted cash at beginning of period	2,684	1,959
Cash, cash equivalents and restricted cash at end of period	1,470	2,119
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	1,424	2,119
Restricted cash included in other current assets	46
Cash, cash equivalents and restricted cash at end of period	$ 1,470	$ 2,119

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Mar. 31, 2018	Dec. 31, 2017
Current assets:
Cash and cash equivalents		$ 1,424	$ 2,673
Accounts receivable		1,695	1,670
Other current assets		516	448
Total current assets		3,635	4,791
Oil and gas property and equipment, based on successful efforts accounting, net		13,475	13,318
Midstream and other property and equipment, net		7,908	7,853
Total property and equipment, net		21,383	21,171
Goodwill		2,383	2,383
Other long-term assets		1,915	1,896
Total assets		29,316	30,241
Current liabilities:
Accounts payable		862	819
Revenues and royalties payable		1,269	1,180
Short-term debt	[1]	354	115
Other current liabilities		997	1,201
Total current liabilities		3,482	3,315
Long-term debt		9,628	10,291
Asset retirement obligations		1,141	1,113
Other long-term liabilities		567	583
Deferred income taxes		773	835
Equity:
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 526 million and 525 million shares in 2018 and 2017, respectively		53	53
Treasury stock, at cost, 0.4 million shares in 2018		(12)
Additional paid-in capital		7,269	7,333
Retained earnings		473	702
Accumulated other comprehensive earnings		1,122	1,166
Total stockholders’ equity attributable to Devon		8,905	9,254
Noncontrolling interests		4,820	4,850
Total equity		13,725	14,104
Total liabilities and equity		$ 29,316	$ 30,241
[1]	Short-term debt as of March 31, 2018 consists of Devon’s $20 million of 8.25% senior notes due July 1, 2018, $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019 and $77 million of borrowings under the General Partner’s credit facility due March 7, 2019.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2018	Dec. 31, 2017
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)	526,000,000	525,000,000
Treasury stock, shares	400,000

Consolidated Statements Of Equi

Consolidated Statements Of 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, 2016	$ 12,722	$ 52	$ 7,237	$ (69)	$ 1,054		$ 4,448
Balance, shares at Dec. 31, 2016		523
Net earnings (loss)	317			303			14
Other comprehensive earnings (loss), net of tax	13				13
Restricted stock grants, net of cancellations, value	1	$ 1
Restricted stock grants, net of cancellations, shares		2
Common stock repurchased	(38)					$ (38)
Common stock retired			(38)			38
Common stock dividends	(32)			(32)
Share-based compensation	30		30
Share-based compensation, shares		1
Subsidiary equity transactions	85		10				75
Distributions to noncontrolling interests	(81)						(81)
Balance at Mar. 31, 2017	13,017	$ 53	7,239	202	1,067		4,456
Balance, shares at Mar. 31, 2017		526
Balance at Dec. 31, 2017	14,104	$ 53	7,333	702	1,166		4,850
Balance, shares at Dec. 31, 2017		525
Net earnings (loss)	(153)			(197)			44
Other comprehensive earnings (loss), net of tax	(44)				(44)
Restricted stock grants, net of cancellations, shares		3
Common stock repurchased	(111)					(111)
Common stock retired			(99)			99
Common stock retired, shares		(3)
Common stock dividends	(32)			(32)
Share-based compensation	36		36
Share-based compensation, shares		1
Subsidiary equity transactions	27		(1)				28
Distributions to noncontrolling interests	(102)						(102)
Balance at Mar. 31, 2018	$ 13,725	$ 53	$ 7,269	$ 473	$ 1,122	$ (12)	$ 4,820
Balance, shares at Mar. 31, 2018		526

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	1. 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 2017 Annual Report on Form 10-K The accompanying unaudited interim financial statements furnished in this report reflect all adjustments that are, in the opinion of management, necessary for a fair statement of Devon’s results of operations and cash flows for the three-month periods ended March 31, 2018 and 2017 and Devon’s financial position as of March 31, 2018. Recently Adopted Accounting Standards In January 2018, Devon adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) retrospective method. See Note 2 for further discussion regarding Devon’s adoption of the revenue recognition standard. In January 2018, Devon adopted ASU 2017-07, Compensation – Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU requires entities to present the service cost component of net periodic benefit cost in the same line item as other employee compensation costs. Only the service cost component of net periodic benefit cost is eligible for capitalization. As a result of adoption of this ASU, consolidated statement of earnings presentation changes were applied retrospectively, while service cost component capitalization was applied prospectively. In January 2018 , Devon adopted ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. This ASU requires an entity to show the changes in the total of cash, cash equivalents, restricted cash, and restricted cash equivalents on the statement of cash flows and to provide a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet when the cash, cash equivalents, restricted cash, and restricted cash equivalents are presented in more than one line item on the balance sheet. doption of this ASU did not have a material impact on Devon’s consolidated statement of cash flows. Issued Accounting Standards Not Yet Adopted The FASB issued ASU 2016-02, Leases (Topic 842) Leases Leases (Topic 842), Targeted Improvements to continue to apply the legacy guidance in Topic 840, including its disclosure requirements, in the comparative periods presented in the year the new leases standard is adopted. Entities that elect this option would still adopt the new leases standard using a modified retrospective transition method, but would recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption rather than in the earliest period presented. Leases (Topic 842), Land Easement Practical Expedient for Transition to Topic 842 Devon has preliminarily determined its portfolio of leased assets and is reviewing all related contracts to determine the impact the adoption will have on its consolidated financial statements and related disclosures. Devon anticipates the adoption of this standard will significantly impact its consolidated financial statements, systems, processes and controls. Devon is in the process of designing processes and controls and implementing a technology solution needed to comply with the requirements of this ASU. While Devon cannot currently estimate the quantitative effect that ASU 2016-02 will have on its consolidated financial statements, the adoption will increase asset and liability balances on the consolidated balance sheets due to the required recognition of right-of-use assets and corresponding lease liabilities. The FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. will expand hedge accounting for nonfinancial and financial risk components and amend measurement methodologies to more closely align hedge accounting with a company's risk management activities. The guidance also eliminates the requirement to separately measure and report hedge ineffectiveness. This ASU only applies to entities that elect hedge accounting, which Devon has not for derivative financial instruments. This ASU is effective for beginning January 1, 2019, with early adoption permitted in 2018. to be adopted using a cumulative effect (modified retrospective) transition method, which utilizes a cumulative-effect adjustment to retained earnings in the period of adoption to account for prior period effects rather than restating previously reported results. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its consolidated financial statements if hedge accounting were elected by Devon in the future. The FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220).

Revenue Recognition

Revenue Recognition	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Revenue Recognition	2. Revenue Recognition Impact of ASC 606 Adoption Devon adopted ASC 606 - Revenue from Contracts with Customers The impact of adoption in the current period results is as follows: Three Months Ended March 31, 2018 Under ASC 606 Under ASC 605 Increase/(Decrease) Upstream revenues $ 1,319 $ 1,257 $ 62 Marketing and midstream revenues 2,491 2,629 (138 ) Total impacted revenues $ 3,810 $ 3,886 $ (76 ) Production expenses $ 543 $ 481 $ 62 Marketing and midstream expenses 2,214 2,352 (138 ) Total impacted expenses $ 2,757 $ 2,833 $ (76 ) Loss before income taxes $ (181 ) $ (181 ) $ — Changes to upstream revenues and production expenses are due to the conclusion that Devon represents the principal and controls a promised product before transferring it to the ultimate third party customer in accordance with the control model in ASC 606. This is a change from previous conclusions reached for these agreements utilizing the principal versus agent indicators under ASC 605 where the assessment was focused on Devon passing title and not control to the processing entity and Devon ultimately receiving a net price from the third-party end customer. As a result, Devon has changed the presentation of revenues and expenses for these agreements. Revenues related to these agreements are now presented on a gross basis for amounts expected to be received from third-party customers through the marketing process. Gathering, processing and transportation expenses related to these agreements, incurred prior to the transfer of control to the customer at the tailgate of the natural gas processing facilities, are now presented as production expenses. Changes to marketing and midstream revenues and expenses are due to the determination of when control is transferred. As a result, Devon has changed the classification of certain transactions from marketing and midstream revenues to expenses or from marketing and midstream expenses to revenues. Upstream Revenues Upstream revenues include the sale of oil, gas and NGL production. Oil, gas and NGL sales are recognized when production is sold to a purchaser at a fixed or determinable price, delivery has occurred, control has transferred and collectability of the revenue is probable. Devon’s performance obligations are satisfied at a point in time. This occurs when control is transferred to the purchaser upon delivery of contract specified production volumes at a specified point. The transaction price used to recognize revenue is a function of the contract billing terms. Revenue is invoiced by calendar month based on volumes at contractually based rates with payment typically received within 30 days of the end of the production month. Taxes assessed by governmental authorities on oil, gas and NGL sales are presented separately from such revenues in the accompanying consolidated comprehensive statements of earnings. Natural gas and NGL Sales Under Devon’s natural gas processing contracts, natural gas is delivered to a midstream processing entity at the wellhead or the inlet of the midstream processing entity’s system. The midstream processing entity gathers and processes the natural gas and remits proceeds for the resulting sales of NGLs and residue gas. In these scenarios, Devon evaluates whether it is the principal or the agent in the transaction. Devon has concluded it is the principal under these contracts and the ultimate third party is the customer. Revenue is recognized on a gross basis, with gathering, processing and transportation fees presented as a component of production expenses in the consolidated comprehensive statement of earnings. In certain natural gas processing agreements, Devon may elect to take residue gas and/or NGLs in-kind at the tailgate of the midstream entity’s processing plant and subsequently market the product. Through the marketing process, the product is delivered to the ultimate third-party purchaser at a contractually agreed-upon delivery point and Devon receives a specified index price from the purchaser. In this scenario, revenue is recognized when control transfers to the purchaser at the delivery point based on the index price received from the purchaser. The gathering, processing and compression fees attributable to the gas processing contract, as well as any transportation fees incurred to deliver the product to the purchaser, are presented as gathering, processing and transportation expense as a component of production expenses in the consolidated comprehensive statement of earnings. Oil sales Devon’s oil sales contracts are generally structured in one of two ways. First, production is sold at the wellhead at an agreed-upon index price, net of pricing differentials. In this scenario, revenue is recognized when control transfers to the purchaser at the wellhead at the net price received. Alternatively, production is delivered to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title and risk of loss of the product. Under this arrangement, a third party is paid to transport the product and receive a specified index price from the purchaser with no deduction. In this scenario, revenue is recognized when control transfers to the purchaser at the delivery point based on the price received from the purchaser. The third-party costs are recorded as gathering, processing and transportation expense as a component of production expenses in the consolidated comprehensive statement of earnings. Marketing and Midstream Revenues Marketing and midstream revenues are generated as a result of performing gathering, transmission, processing, fractionation, storage, condensate stabilization, brine services and marketing, through various contractual arrangements, which include fee-based arrangements or arrangements where Devon purchases and resells commodities in connection with providing the related service and earns a net margin for its fee. Marketing and midstream revenues are recognized when performance obligations are satisfied. This occurs at the time contract specified products are sold or services are provided to third parties at a contractually fixed or determinable price, delivery occurs at a specified point or performance has occurred, control has transferred and collectability of the revenue is probable. Control is transferred from the producer when the midstream processor has discretion on the sale or further processing of the liquids. The transaction price used to recognize revenue and invoice customers is based on a contractually stated fee or on a third party published index price plus or minus a known differential. Devon typically receives payment for invoiced amounts within 30 days. Marketing and midstream revenues and expenses attributable to oil, gas and NGL purchases, transportation and processing contracts are reported on a gross basis when Devon takes control of the products and has risks and rewards of ownership. For contracts where control of commodities is transferred before the service is performed, Devon generally has no performance obligation for its services, and accordingly, does not consider these revenue-generating service contracts. Based on that determination, all fees or fee-equivalent deductions stated in such contracts reduce the cost to purchase commodities. Alternatively, for contracts where control of commodities is transferred after the service is performed, Devon considers these contracts to contain performance obligations for its services. Accordingly, Devon considers the satisfaction of these performance obligations as revenue-generating and recognizes these fees as midstream services revenue at the time its performance obligations are satisfied. For contracts where control of commodities is never transferred, Devon simply earns a fee for its services and recognizes these fees as midstream services revenue at the time its performance obligations are satisfied. Since Devon has a right to consideration from its customers in amounts that correspond directly to the value that the customer receives from the performance completed on each contract, Devon applies the practical expedient in ASC 606 that allows recognition of revenue in the amount to which there is a right to invoice and prevents the need to estimate a transaction price for each contract and allocating that transaction price to the performance obligations within each contract. Devon recognizes revenue for sales or services at the time the natural gas, NGLs, crude oil or condensate are delivered at a fixed or determinable price. Transaction Price Allocated to Remaining Performance Obligations Most of Devon’s contracts are short-term in nature with a contract term of one year or less. Devon applies the practical expedient in ASC 606 exempting the disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. For contracts with terms greater than one year, Devon applies the practical expedient in ASC 606 exempting the disclosure of the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under Devon’s contracts, each unit of product typically represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required. Contract Balances Cash received relating to future performance obligations are deferred and recognized when all revenue recognition criteria are met. Contract liabilities generated from such deferred revenue are not considered material as of March 31, 2018. Disaggregation of Revenue Revenue from both upstream revenues and marketing and midstream revenues represent revenue from contracts with customers and these revenue line items are reflected in the consolidated comprehensive statements of earnings. The following table presents revenue from contracts with customers that are disaggregated based on the type of good or service. Three Months Ended March 31, 2018 U.S. Canada EnLink (1) Total Revenues from contracts with customers: Oil $ 677 $ 230 $ — $ 907 Gas 255 — — 255 NGL 198 — — 198 Oil, gas and NGL sales 1,130 230 — 1,360 Oil, gas and NGL derivatives (113 ) 72 — (41 ) Total upstream revenues 1,017 302 — 1,319 Gathering and transportation — — 56 56 Processing — — 15 15 NGL services — — 16 16 Oil services — — 6 6 Total midstream services revenue — — 93 93 Oil and condensate 531 17 632 1,180 Gas 155 — 286 441 NGL 176 — 601 777 Total product sales 862 17 1,519 2,398 Total marketing and midstream revenues 862 17 1,612 2,491 Total revenues from contracts with customers $ 1,879 $ 319 $ 1,612 $ 3,810 (1) Amounts presented net of eliminations

Acquisitions And Divestitures

Acquisitions And Divestitures	3 Months Ended
	Mar. 31, 2018
Business Combinations [Abstract]
Acquisitions and Divestitures	3. Acquisitions and Divestitures Devon Divestitures In March 2018, Devon entered into a definitive agreement to sell a portion of its Barnett Shale assets, primarily located in Johnson County for $553 million, before purchase price adjustments. The transaction is expected to close in the second quarter of 2018. Estimated proved reserves associated with these assets are approximately 10% of total proved reserves. Devon anticipates the impact of the Johnson County divestiture will result in an adjustment to its capitalized costs with no gain recognition in the consolidated statement of earnings. In conjunction with the divestiture, Devon will settle certain gas processing contracts and expects to recognize an approximate $40 million settlement expense. EnLink Divestitures D uring the first quarter of 2017, EnLink divested its ownership interest in Howard Energy Partners for approximately $190 million.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2018
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	4. Derivative Financial Instruments Objectives and Strategies Devon 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 and costless price collars. 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 March 31, 2018, 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. 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. Commodity Derivatives As of March 31, 2018, 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 Period Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Q2-Q4 2018 58,855 $ 53.74 83,167 $ 50.28 $ 60.28 Q1-Q4 2019 17,030 $ 55.37 43,290 $ 50.94 $ 60.94 Oil Basis Swaps Oil Basis Collars Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Volume (Bbls/d) Weighted Average Floor Differential to WTI ($/Bbl) Weighted Average Ceiling Differential to WTI ($/Bbl) Q2-Q4 2018 Midland Sweet 23,000 $ (1.02 ) — $ — $ — Q2-Q4 2018 Argus LLS 12,000 $ 3.95 — $ — $ — Q2-Q4 2018 Western Canadian Select 69,018 $ (14.91 ) 1,775 $ (15.50 ) $ (13.93 ) Q1-Q4 2019 Midland Sweet 28,000 $ (0.46 ) — $ — $ — As of March 31, 2018, 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 swaps that settle against the NYMEX last day settle natural gas index. The third table presents Devon’s natural gas derivatives that settle against the respective indices noted within the table. Price Swaps Price Collars Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Floor Price ($/MMBtu) Weighted Average Ceiling Price ($/MMBtu) Q2-Q4 2018 378,033 $ 2.97 201,867 $ 2.79 $ 3.10 Q1-Q4 2019 52,622 $ 2.90 52,844 $ 2.77 $ 3.07 Price Swaps Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Q1-Q4 2019 128,164 $ 2.78 Q1-Q4 2020 116,364 $ 2.73 Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q2-Q4 2018 Panhandle Eastern Pipe Line 90,000 $ (0.43) Q2-Q4 2018 El Paso Natural Gas 30,000 $ (0.85) Q2-Q4 2018 Houston Ship Channel 60,000 $ (0.01) Q2-Q4 2018 Transco Zone 4 10,036 $ (0.03) Q1-Q4 2019 Houston Ship Channel 32,500 $ (0.02) Q1-Q4 2019 Transco Zone 4 7,397 $ (0.03) As of March 31, 2018, 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 Period Product Volume (Bbls/d) Weighted Average Price ($/Bbl) Q2-Q4 2018 Ethane 6,500 $ 11.86 Q2-Q4 2018 Natural Gasoline 5,500 $ 54.24 Q2-Q4 2018 Normal Butane 6,750 $ 38.46 Q2-Q4 2018 Propane 10,500 $ 33.30 As of March 31, 2018, EnLink had the following open derivative positions associated with gas processing and fractionation. EnLink’s NGL positions settle by purity product against the average of the prompt month OPIS Mont Belvieu, Texas index. EnLink’s natural gas positions settle against the Henry Hub Gas Daily index. Period Product Volume (Total) Weighted Average Price Paid Weighted Average Price Received Q2 2018-Q1 2019 Propane 688 MBbls Index $0.75/gal Q2 2018-Q4 2019 Natural Gas 71,418 MMBtu/d Index $2.10/MMBtu Interest Rate Derivatives As of March 31, 2018, Devon had the following open interest rate derivative positions: Notional Rate Received Rate Paid Expiration $ 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 March 31, 2018 2017 Commodity derivatives: Upstream revenues $ (41 ) $ 232 Marketing and midstream revenues 1 4 Interest rate derivatives: Other expenses 46 5 Net gains recognized $ 6 $ 241 The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. March 31, 2018 December 31, 2017 Commodity derivative assets: Other current assets $ 193 $ 209 Other long-term assets 22 2 Interest rate derivative assets: Other current assets 1 1 Total derivative assets $ 216 $ 212 Commodity derivative liabilities: Other current liabilities $ 328 $ 267 Other long-term liabilities 27 27 Interest rate derivative liabilities: Other current liabilities 22 64 Total derivative liabilities $ 377 $ 358

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2018
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	5. Share-Based Compensation The table below presents the share-based compensation expense included in Devon’s accompanying consolidated comprehensive statements of earnings. Three Months Ended March 31, 2018 2017 G&A $ 37 $ 34 Exploration expenses 2 2 Total Devon 39 36 G&A 3 14 Marketing and midstream expenses 2 5 Total EnLink 5 19 Total $ 44 $ 55 Related income tax benefit $ 1 $ 1 Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first three months of 2018. 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 12/31/17 6,328 $ 36.81 575 $ 38.92 2,758 $ 41.21 Granted 3,425 $ 35.77 — $ — 845 $ 37.40 Vested (2,286 ) $ 38.82 (227 ) $ 43.14 (571 ) $ 84.22 Forfeited (85 ) $ 35.13 — $ — (3 ) $ 27.12 Unvested at 3/31/18 7,382 $ 35.72 348 $ 36.17 3,029 (1 ) $ 30.35 (1) A maximum of 6.1 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 2018, as indicated in the previous summary table. 2018 Grant-date fair value $36.23 — $ 37.88 Risk-free interest rate 2.28% Volatility factor 45.8% Contractual term (years) 2.89 The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with unvested awards and units as of March 31, 2018. Performance-Based Restricted Stock Restricted Stock Performance Awards and Units Awards Share Units Unrecognized compensation cost $ 213 $ 3 $ 53 Weighted average period for recognition (years) 2.9 1.5 2.2 EnLink Share-Based Awards The General Partner and EnLink issue restricted incentive units as bonus payments to officers and certain employees in the first quarter each year for the prior year’s performance. For the first quarter of 2018 and the first quarter of 2017, the combined grant date fair value for these awards was $6 million and $10 million, respectively. The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with the General Partner’s and EnLink’s unvested restricted incentive units and performance units as of March 31, 2018. General Partner EnLink Restricted Performance Restricted Performance Incentive Units Units Incentive Units Units Unrecognized compensation cost $ 19 $ 8 $ 20 $ 8 Weighted average period for recognition (years) 2.1 2.3 2.2 2.3

Asset Impairments

Asset Impairments	3 Months Ended
	Mar. 31, 2018
Asset Impairment Charges [Abstract]
Asset Impairments	6. Asset Impairments Unproved In the first quarter of 2018 and 2017, Devon allowed certain non-core acreage to expire without plans for development, resulting in unproved impairments of $8 million and $41 million, respectively. Unproved impairments are included in exploration expenses in the consolidated comprehensive statements of earnings.

Other Expenses

Other Expenses	3 Months Ended
	Mar. 31, 2018
Other Income And Expenses [Abstract]
Other Expenses	7. Other Expenses The following table summarizes Devon’s other expenses presented in the accompanying consolidated comprehensive statement of earnings. Three Months Ended March 31, 2018 2017 Foreign exchange (gain) loss, net $ 50 $ (15 ) Asset retirement obligation accretion 16 17 Other, net (47 ) (33 ) Total $ 19 $ (31 ) Certain of Devon’s non-Canadian foreign subsidiaries have a U.S. dollar functional currency, hold Canadian-dollar cash and engage in intercompany loans with Canadian subsidiaries that are based in Canadian dollars. The value of the Canadian-dollar cash and intercompany loans increases or decreases from the remeasurement of the cash and loans into the U.S. dollar functional currency. During the first quarter of 2018, Devon recognized foreign exchange losses related to these activities resulting from the strengthening of the U.S. dollar in relation to the Canadian dollar. Restructuring and Transaction Costs The following table summarizes Devon’s restructuring liabilities. Other Other Current Long-term Liabilities Liabilities Total Balance as of December 31, 2017 $ 19 $ 31 $ 50 Changes related to prior years' restructurings (1 ) (4 ) (5 ) Balance as of March 31, 2018 $ 18 $ 27 $ 45 Balance as of December 31, 2016 48 62 110 Changes related to prior years' restructurings (15 ) (5 ) (20 ) Balance as of March 31, 2017 $ 33 $ 57 $ 90 In April 2018, Devon announced workforce reductions and other initiatives designed to enhance its operational focus and cost structure. As a result, Devon will incur additional restructuring charges and liabilities, ranging from $75 million to $100 million, beginning in the second quarter of 2018.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income Taxes	8. Income Taxes The following table presents Devon’s total income tax expense (benefit) and a reconciliation of its effective income tax rate to the U.S. statutory income tax rate. Three Months Ended March 31, 2018 2017 Current income tax expense $ 4 $ 20 Deferred income tax benefit (32 ) (12 ) Total income tax expense (benefit) $ (28 ) $ 8 U.S. statutory income tax rate 21 % 35 % State income taxes 1 % 2 % Other (5 %) (1 %) Deferred tax asset valuation allowance (2 %) (34 %) Effective income tax rate 15 % 2 % 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. Under the Tax Reform Legislation, the U.S. corporate income tax rate was reduced to 21% effective January 1, 2018. In the table above, the “other” effect is primarily composed of permanent differences for which dollar amounts do not increase or decrease in relation to the change in pre-tax earnings. Generally, such items have an insignificant impact on Devon’s effective income tax rate. However, these items have a more noticeable impact to the rate in the first quarter of 2018 due to lower relative earnings during the period. Throughout 2017 and through the first quarter of 2018, Devon continued to maintain a 100% valuation allowance against its U.S. deferred tax assets resulting from prior year cumulative financial losses largely due to oil and gas impairments and significant net operating losses for U.S. federal and state income tax. Furthermore, a partial allowance continues to be held against certain Canadian segment deferred tax assets. During the first quarter of 2018, Devon repatriated approximately $92 million from certain international entities. This repatriation had no tax impact. In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act Devon is under audit in the U.S. and various foreign jurisdictions as part of its normal course of business. The timing of resolution of income tax examinations is uncertain as are the amounts and timing of tax payments that are part of any audit settlement process. Devon believes that within the next 12 months it is reasonably possible that certain tax examinations will be resolved by settlement with the taxing authorities.

Net Earnings (Loss) Per Share A

Net Earnings (Loss) Per Share Attributable to Devon	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Earnings (Loss) Per Share Attributable to Devon	9. Net Earnings (Loss) Per Share Attributable to Devon The following table reconciles net earnings (loss) attributable to Devon and weighted-average common shares outstanding used in the calculations of basic and diluted net earnings (loss) per share. Three Months Ended March 31, 2018 2017 Net earnings (loss): Net earnings (loss) attributable to Devon $ (197 ) $ 303 Attributable to participating securities — (3 ) Basic and diluted earnings (loss) $ (197 ) $ 300 Common shares: Common shares outstanding - total 527 525 Attributable to participating securities (7 ) (6 ) Common shares outstanding - basic 520 519 Dilutive effect of potential common shares issuable — 3 Common shares outstanding - diluted 520 522 Net earnings (loss) per share attributable to Devon: Basic $ (0.38 ) $ 0.58 Diluted $ (0.38 ) $ 0.58 Antidilutive options (1) 2 3 (1) Amounts represent options to purchase shares of Devon’s common stock that are excluded from the diluted net earnings per share calculations because the options are antidilutive.

Other Comprehensive Earnings

Other Comprehensive Earnings	3 Months Ended
	Mar. 31, 2018
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Other Comprehensive Earnings	10. Other Comprehensive Earnings Components of other comprehensive earnings consist of the following: Three Months Ended March 31, 2018 2017 Foreign currency translation and other: Beginning accumulated foreign currency translation and other $ 1,309 $ 1,226 Change in cumulative translation adjustment and other (61 ) 11 Income tax benefit (expense) 13 (3 ) Ending accumulated foreign currency translation and other 1,261 $ 1,234 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (143 ) (172 ) Recognition of net actuarial loss and prior service cost in earnings (1) 4 5 Ending accumulated pension and postretirement benefits (139 ) (167 ) Accumulated other comprehensive earnings, net of tax $ 1,122 $ 1,067 (1) These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of Other expenses in the accompanying consolidated comprehensive statements of earnings. See Note 18

Supplemental Information To Sta

Supplemental Information To Statements Of Cash Flows	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Supplemental Information To Statements Of Cash Flows	11. Supplemental Information to Statements of Cash Flows Three Months Ended March 31, 2018 2017 Changes in assets and liabilities, net Accounts receivable $ (27 ) $ 48 Other current assets (79 ) (21 ) Other long-term assets (52 ) 1 Accounts payable 14 4 Revenues and royalties payable 84 73 Other current liabilities 76 (89 ) Other long-term liabilities (10 ) 20 Total $ 6 $ 36 Interest paid (net of capitalized interest) $ 76 $ 92 Income taxes paid $ 1 $ 3

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2018
Accounts Receivable Net [Abstract]
Accounts Receivable	12. Accounts Receivable Components of accounts receivable include the following: March 31, 2018 December 31, 2017 Oil, gas and NGL sales $ 536 $ 559 Joint interest billings 132 134 Marketing and midstream revenues 989 959 Other 50 29 Gross accounts receivable 1,707 1,681 Allowance for doubtful accounts (12 ) (11 ) Net accounts receivable $ 1,695 $ 1,670

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2018
Extractive Industries [Abstract]
Property, Plant and Equipment	13. The following table presents the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities. March 31, 2018 December 31, 2017 Property and equipment, at cost: Proved $ 47,685 $ 47,295 Unproved and properties under development 2,478 2,457 Total oil and gas 50,163 49,752 Less accumulated DD&A (36,688 ) (36,434 ) Oil and gas property and equipment, net 13,475 13,318 EnLink midstream and other 9,298 9,120 Devon midstream and other 1,957 1,955 Less accumulated DD&A (3,347 ) (3,222 ) Midstream and other property and equipment, net 7,908 7,853 Property and equipment, net $ 21,383 $ 21,171

Other Intangible Assets

Other Intangible Assets	3 Months Ended
	Mar. 31, 2018
Goodwill And Intangible Assets Disclosure [Abstract]
Other Intangible Assets	14. Other Intangible Assets The following table presents other intangible assets reported in other long-term assets in the accompanying consolidated balance sheets. March 31, 2018 December 31, 2017 Customer relationships $ 1,796 $ 1,796 Accumulated amortization (330 ) (299 ) Net intangibles $ 1,466 $ 1,497 The weighted-average amortization period for other intangible assets is 15 years. Amortization expense for intangibles was $31 million and $29 million for the three months ended March 31, 2018 and 2017, respectively. The remaining amortization expense is estimated to be $123 million for each of the next five years.

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2018
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	15. Other Current Liabilities Components of other current liabilities include the following: March 31, 2018 December 31, 2017 Derivative liabilities $ 350 $ 331 Installment payment — 250 Income taxes payable 142 145 Accrued interest payable 147 131 Restructuring liabilities 18 19 Other 340 325 Other current liabilities $ 997 $ 1,201 EnLink’s final installment payment relating to its acquisition of Anadarko Basin gathering and processing midstream assets in 2016 was paid in January 2018 using borrowings under EnLink’s credit facility.

Debt And Related Expenses

Debt And Related Expenses	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Debt and Related Expenses	16. A summary of debt is as follows: March 31, 2018 December 31, 2017 Devon debt: 8.25% due July 1, 2018 $ 20 $ 20 2.25% due December 15, 2018 95 95 6.30% due January 15, 2019 162 162 4.00% due July 15, 2021 500 500 3.25% due May 15, 2022 1,000 1,000 5.85% due December 15, 2025 485 485 7.50% due September 15, 2027 73 73 7.875% due September 30, 2031 (1) 675 1,059 7.95% due April 15, 2032 (1) 366 789 5.60% due July 15, 2041 1,250 1,250 4.75% due May 15, 2042 750 750 5.00% due June 15, 2045 750 750 Net discount on debentures and notes (25 ) (30 ) Debt issuance costs (35 ) (39 ) Total Devon debt 6,066 6,864 EnLink and General Partner debt: Credit facilities 447 74 2.70% due April 1, 2019 400 400 4.40% due April 1, 2024 550 550 4.15% due June 1, 2025 750 750 4.85% due July 15, 2026 500 500 5.60% due April 1, 2044 350 350 5.05% due April 1, 2045 450 450 5.45% due June 1, 2047 500 500 Net discount on debentures and notes (6 ) (6 ) Debt issuance costs (25 ) (26 ) Total EnLink and General Partner debt 3,916 3,542 Total debt 9,982 10,406 Less amount classified as short-term debt (2) 354 115 Total long-term debt $ 9,628 $ 10,291 (1) These senior notes were included in the 2018 tender offer repurchases discussed below. (2) Short-term debt as of March 31, 2018 consists of Devon’s $20 million of 8.25% senior notes due July 1, 2018, $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019 and $77 million of borrowings under the General Partner’s credit facility due March 7, 2019. Credit Lines Devon has a $3.0 billion Senior Credit Facility. As of March 31, 2018, Devon had $51 million in outstanding letters of credit under the Senior Credit Facility. There were no outstanding borrowings under the Senior Credit Facility at March 31, 2018. 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 impairments. As of March 31, 2018, Devon was in compliance with this covenant with a debt-to-capitalization ratio of 26.2%. Retirement of Senior Notes In the first quarter of 2018, Devon completed tender offers to repurchase $807 million in aggregate principal amount of debt securities, using cash on hand. This included $384 million of the 7.875% senior notes due September 30, 2031 and $423 million of the 7.95% senior notes due April 15, 2032. Devon recognized a $312 million loss on early retirement of debt, consisting of $304 million in cash retirement costs and $8 million of noncash charges. These costs, along with other charges associated with retiring the debt, are included in net financing costs in the consolidated comprehensive statements of earnings. EnLink Debt All of EnLink’s and the General Partner’s debt is non-recourse to Devon. EnLink has a $1.5 billion unsecured revolving credit facility. As of March 31, 2018, there were $10 million in outstanding letters of credit and $370 million in outstanding borrowings at an average rate of 3.3% under the $1.5 billion credit facility. The General Partner has a $250 million secured revolving credit facility. As of March 31, 2018, the General Partner had $77 million in outstanding borrowings at an average rate of 3.5%. EnLink and the General Partner were in compliance with all financial covenants in their respective credit facilities as of March 31, 2018. Net Financing Costs The following schedule includes the components of net financing costs. Three Months Ended March 31, 2018 2017 Devon net financing costs: Interest based on debt outstanding $ 96 $ 97 Early retirement of debt 312 — Capitalized interest (18 ) (16 ) Other (3 ) 2 Total Devon net financing costs 387 83 EnLink net financing costs: Interest based on debt outstanding 44 40 Interest accretion on deferred installment payment 1 7 Other (1 ) (2 ) Total EnLink net financing costs 44 45 Total net financing costs $ 431 $ 128

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	17. Asset Retirement Obligations The following table presents the changes in Devon’s asset retirement obligations. Three Months Ended March 31, 2018 2017 Asset retirement obligations as of beginning of period $ 1,152 $ 1,272 Liabilities incurred and assumed through acquisitions 15 10 Liabilities settled and divested (20 ) (13 ) Revision of estimated obligation 23 (184 ) Accretion expense on discounted obligation 16 17 Foreign currency translation adjustment (13 ) 4 Asset retirement obligations as of end of period 1,173 1,106 Less current portion 32 39 Asset retirement obligations, long-term $ 1,141 $ 1,067 During the first quarter of 2017, Devon reduced its estimated asset retirement obligations by $184 million primarily due to changes in the assumed inflation rate and retirement dates for its oil and gas assets.

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	18. Retirement Plans The following table presents the components of net periodic benefit cost for Devon’s pension. There were no net periodic benefit cost for postretirement benefit plans for all periods presented below. Pension Benefits Three Months Ended March 31, 2018 2017 Service cost $ 3 $ 4 Interest cost 10 11 Expected return on plan assets (14 ) (14 ) Amortization of prior service cost (1) — 1 Net actuarial loss (1) 4 4 Net periodic benefit cost (2) $ 3 $ 6 (1) These net periodic benefit costs were reclassified out of other comprehensive earnings. (2) The service cost component of net periodic benefit cost is included in G&A expense and the remaining components of net periodic benefit costs are included in Other expenses in the accompanying consolidated comprehensive statements of earnings.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2018
Stockholders Equity Note [Abstract]
Stockholders' Equity	19. Stockholders’ Equity Devon announced a share-repurchase program to buy up to $1.0 billion of shares of common stock, which expires March 7, 2019. During the first quarter of 2018, Devon repurchased 2.6 million shares of common stock for $83 million, or $32.19 per share, under this program. Devon paid common stock dividends of $32 million, or $0.06 per share, in the first three months of 2018 and 2017, respectively. Additionally, Devon announced a 33% increase to its quarterly dividend beginning in the second quarter of 2018.

Noncontrolling Interests

Noncontrolling Interests	3 Months Ended
	Mar. 31, 2018
Noncontrolling Interest [Abstract]
Noncontrolling interests	20. Noncontrolling Interests Subsidiary Equity Transactions As of March 31, 2018, Devon’s ownership interest in EnLink was 23%, excluding the interest held by the General Partner. Devon’s controlling ownership interest in the General Partner as of March 31, 2018 was 64%. EnLink has the ability to sell common units through its “at the market” equity offering programs. During the first three months of 2017, EnLink issued and sold 3 million common units through its programs and generated $55 million in net proceeds. Distributions to Noncontrolling Interests EnLink and the General Partner distributed $102 million and $81 million to non-Devon unitholders during the first three months of 2018 and 2017, respectively.

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2018
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	21. 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. Devon is currently named as a defendant in a number of such lawsuits, including some lawsuits in which the plaintiffs seek to certify classes of similarly situated plaintiffs. Among the allegations typically asserted in these suits are claims that Devon 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 royalty audits 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 environmental, health and safety laws and regulations, including with respect 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	3 Months Ended
	Mar. 31, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements	22. Fair Value Measurements The following table provides carrying value and fair value measurement information for certain of Devon’s financial assets and liabilities. None of the items below are measured using Level 3 inputs. The carrying values of cash, accounts receivable, other current receivables, accounts payable, other current payables and accrued expenses included in the accompanying consolidated balance sheets approximated fair value at March 31, 2018 and December 31, 2017. 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 6 Note 1 4 Fair Value Measurements Using: Carrying Total Fair Level 1 Level 2 Amount Value Inputs Inputs March 31, 2018 assets (liabilities): Cash equivalents $ 335 $ 335 $ 259 $ 76 Commodity derivatives $ 215 $ 215 $ — $ 215 Commodity derivatives $ (355 ) $ (355 ) $ — $ (355 ) Interest rate derivatives $ 1 $ 1 $ — $ 1 Interest rate derivatives $ (22 ) $ (22 ) $ — $ (22 ) Debt $ (9,982 ) $ (10,719 ) $ — $ (10,719 ) Capital lease obligations $ (4 ) $ (3 ) $ — $ (3 ) December 31, 2017 assets (liabilities): Cash equivalents $ 1,533 $ 1,533 $ 1,454 $ 79 Commodity derivatives $ 211 $ 211 $ — $ 211 Commodity derivatives $ (294 ) $ (294 ) $ — $ (294 ) Interest rate derivatives $ 1 $ 1 $ — $ 1 Interest rate derivatives $ (64 ) $ (64 ) $ — $ (64 ) Debt $ (10,406 ) $ (11,782 ) $ — $ (11,782 ) Installment payment $ (250 ) $ (250 ) $ — $ (250 ) Capital lease obligations $ (4 ) $ (3 ) $ — $ (3 ) 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 and U.S. and Canadian treasury securities. 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 and interest rate derivatives – The fair values of commodity and interest rate derivatives are estimated using internal discounted cash flow calculations based upon forward curves and data obtained from independent third parties for contracts with similar terms or data obtained from counterparties to the agreements. Debt – Devon’s debt instruments do not actively trade in an established market. The fair values of its debt are estimated based on rates available for debt with similar terms and maturity. The fair value of the credit facility balance is the carrying value. Installment payment – The fair value of the EnLink installment payment 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	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Segment Information	23. 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 Three Months Ended March 31, 2018: Revenues from external customers $ 1,879 $ 319 $ 1,612 $ — $ 3,810 Intersegment revenues $ — $ — $ 149 $ (149 ) $ — Depreciation, depletion and amortization $ 305 $ 94 $ 138 $ — $ 537 Interest expense $ 247 $ 164 $ 44 $ (16 ) $ 439 Asset dispositions $ (12 ) $ — $ — $ — $ (12 ) Earnings (loss) before income taxes $ (100 ) $ (145 ) $ 64 $ — $ (181 ) Income tax expense (benefit) $ 1 $ (35 ) $ 6 $ — $ (28 ) Net earnings (loss) $ (101 ) $ (110 ) $ 58 $ — $ (153 ) Net earnings attributable to noncontrolling interests $ — $ — $ 44 $ — $ 44 Net earnings (loss) attributable to Devon $ (101 ) $ (110 ) $ 14 $ — $ (197 ) Property and equipment, net $ 10,538 $ 4,186 $ 6,659 $ — $ 21,383 Total assets $ 13,477 $ 5,271 $ 10,615 $ (47 ) $ 29,316 Capital expenditures, including acquisitions $ 612 $ 89 $ 181 $ — $ 882 Three Months Ended March 31, 2017: Revenues from external customers $ 2,081 $ 319 $ 1,151 $ — $ 3,551 Intersegment revenues $ — $ — $ 171 $ (171 ) $ — Depreciation, depletion and amortization $ 302 $ 98 $ 128 $ — $ 528 Interest expense $ 80 $ 20 $ 45 $ (15 ) $ 130 Asset impairments $ — $ — $ 7 $ — $ 7 Asset dispositions $ (7 ) $ (1 ) $ 5 $ — $ (3 ) Earnings (loss) before income taxes $ 325 $ (12 ) $ 12 $ — $ 325 Income tax expense $ 3 $ 2 $ 3 $ — $ 8 Net earnings (loss) $ 322 $ (14 ) $ 9 $ — $ 317 Net earnings attributable to noncontrolling interests $ — $ — $ 14 $ — $ 14 Net earnings (loss) attributable to Devon $ 322 $ (14 ) $ (5 ) $ — $ 303 Property and equipment, net $ 10,030 $ 4,078 $ 6,396 $ — $ 20,504 Total assets $ 13,644 $ 4,869 $ 10,177 $ (55 ) $ 28,635 Capital expenditures, including acquisitions $ 346 $ 82 $ 248 $ — $ 676

Summary Of Significant Accoun30

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2018
Accounting Policies [Abstract]
Recent Accounting Standards	Recently Adopted Accounting Standards In January 2018, Devon adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606) retrospective method. See Note 2 for further discussion regarding Devon’s adoption of the revenue recognition standard. In January 2018, Devon adopted ASU 2017-07, Compensation – Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU requires entities to present the service cost component of net periodic benefit cost in the same line item as other employee compensation costs. Only the service cost component of net periodic benefit cost is eligible for capitalization. As a result of adoption of this ASU, consolidated statement of earnings presentation changes were applied retrospectively, while service cost component capitalization was applied prospectively. In January 2018 , Devon adopted ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. This ASU requires an entity to show the changes in the total of cash, cash equivalents, restricted cash, and restricted cash equivalents on the statement of cash flows and to provide a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet when the cash, cash equivalents, restricted cash, and restricted cash equivalents are presented in more than one line item on the balance sheet. doption of this ASU did not have a material impact on Devon’s consolidated statement of cash flows. Issued Accounting Standards Not Yet Adopted The FASB issued ASU 2016-02, Leases (Topic 842) Leases Leases (Topic 842), Targeted Improvements to continue to apply the legacy guidance in Topic 840, including its disclosure requirements, in the comparative periods presented in the year the new leases standard is adopted. Entities that elect this option would still adopt the new leases standard using a modified retrospective transition method, but would recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption rather than in the earliest period presented. Leases (Topic 842), Land Easement Practical Expedient for Transition to Topic 842 Devon has preliminarily determined its portfolio of leased assets and is reviewing all related contracts to determine the impact the adoption will have on its consolidated financial statements and related disclosures. Devon anticipates the adoption of this standard will significantly impact its consolidated financial statements, systems, processes and controls. Devon is in the process of designing processes and controls and implementing a technology solution needed to comply with the requirements of this ASU. While Devon cannot currently estimate the quantitative effect that ASU 2016-02 will have on its consolidated financial statements, the adoption will increase asset and liability balances on the consolidated balance sheets due to the required recognition of right-of-use assets and corresponding lease liabilities. The FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. will expand hedge accounting for nonfinancial and financial risk components and amend measurement methodologies to more closely align hedge accounting with a company's risk management activities. The guidance also eliminates the requirement to separately measure and report hedge ineffectiveness. This ASU only applies to entities that elect hedge accounting, which Devon has not for derivative financial instruments. This ASU is effective for beginning January 1, 2019, with early adoption permitted in 2018. to be adopted using a cumulative effect (modified retrospective) transition method, which utilizes a cumulative-effect adjustment to retained earnings in the period of adoption to account for prior period effects rather than restating previously reported results. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its consolidated financial statements if hedge accounting were elected by Devon in the future. The FASB issued ASU 2018-02, Income Statement - Reporting Comprehensive Income - Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220).
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.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	3 Months Ended
	Mar. 31, 2018
Revenue From Contract With Customer [Abstract]
Schedule of Impact of Adoption	The impact of adoption in the current period results is as follows: Three Months Ended March 31, 2018 Under ASC 606 Under ASC 605 Increase/(Decrease) Upstream revenues $ 1,319 $ 1,257 $ 62 Marketing and midstream revenues 2,491 2,629 (138 ) Total impacted revenues $ 3,810 $ 3,886 $ (76 ) Production expenses $ 543 $ 481 $ 62 Marketing and midstream expenses 2,214 2,352 (138 ) Total impacted expenses $ 2,757 $ 2,833 $ (76 ) Loss before income taxes $ (181 ) $ (181 ) $ —
Schedule of Revenue from Contracts with Customers that are Disaggregated Based on Type of Good or Service	The following table presents revenue from contracts with customers that are disaggregated based on the type of good or service. Three Months Ended March 31, 2018 U.S. Canada EnLink (1) Total Revenues from contracts with customers: Oil $ 677 $ 230 $ — $ 907 Gas 255 — — 255 NGL 198 — — 198 Oil, gas and NGL sales 1,130 230 — 1,360 Oil, gas and NGL derivatives (113 ) 72 — (41 ) Total upstream revenues 1,017 302 — 1,319 Gathering and transportation — — 56 56 Processing — — 15 15 NGL services — — 16 16 Oil services — — 6 6 Total midstream services revenue — — 93 93 Oil and condensate 531 17 632 1,180 Gas 155 — 286 441 NGL 176 — 601 777 Total product sales 862 17 1,519 2,398 Total marketing and midstream revenues 862 17 1,612 2,491 Total revenues from contracts with customers $ 1,879 $ 319 $ 1,612 $ 3,810 (1) Amounts presented net of eliminations

Derivative Financial Instrume32

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2018
Derivative [Line Items]
Schedule Of Derivative Financial Instruments Included In Consolidated Comprehensive Statements Of Earnings And Consolidated Balance Sheets	The following table presents the net gains and losses by derivative financial instrument type followed by the corresponding individual consolidated comprehensive statements of earnings caption. Three Months Ended March 31, 2018 2017 Commodity derivatives: Upstream revenues $ (41 ) $ 232 Marketing and midstream revenues 1 4 Interest rate derivatives: Other expenses 46 5 Net gains recognized $ 6 $ 241 The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. March 31, 2018 December 31, 2017 Commodity derivative assets: Other current assets $ 193 $ 209 Other long-term assets 22 2 Interest rate derivative assets: Other current assets 1 1 Total derivative assets $ 216 $ 212 Commodity derivative liabilities: Other current liabilities $ 328 $ 267 Other long-term liabilities 27 27 Interest rate derivative liabilities: Other current liabilities 22 64 Total derivative liabilities $ 377 $ 358
Interest Rate Derivatives [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	Notional Rate Received Rate Paid Expiration $ 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 Period Volume (Bbls/d) Weighted Average Price ($/Bbl) Volume (Bbls/d) Weighted Average Floor Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Q2-Q4 2018 58,855 $ 53.74 83,167 $ 50.28 $ 60.28 Q1-Q4 2019 17,030 $ 55.37 43,290 $ 50.94 $ 60.94 Oil Basis Swaps Oil Basis Collars Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Volume (Bbls/d) Weighted Average Floor Differential to WTI ($/Bbl) Weighted Average Ceiling Differential to WTI ($/Bbl) Q2-Q4 2018 Midland Sweet 23,000 $ (1.02 ) — $ — $ — Q2-Q4 2018 Argus LLS 12,000 $ 3.95 — $ — $ — Q2-Q4 2018 Western Canadian Select 69,018 $ (14.91 ) 1,775 $ (15.50 ) $ (13.93 ) Q1-Q4 2019 Midland Sweet 28,000 $ (0.46 ) — $ — $ —
Open Natural Gas Derivative Positions [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	Price Swaps Price Collars Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Floor Price ($/MMBtu) Weighted Average Ceiling Price ($/MMBtu) Q2-Q4 2018 378,033 $ 2.97 201,867 $ 2.79 $ 3.10 Q1-Q4 2019 52,622 $ 2.90 52,844 $ 2.77 $ 3.07 Price Swaps Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Q1-Q4 2019 128,164 $ 2.78 Q1-Q4 2020 116,364 $ 2.73 Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q2-Q4 2018 Panhandle Eastern Pipe Line 90,000 $ (0.43) Q2-Q4 2018 El Paso Natural Gas 30,000 $ (0.85) Q2-Q4 2018 Houston Ship Channel 60,000 $ (0.01) Q2-Q4 2018 Transco Zone 4 10,036 $ (0.03) Q1-Q4 2019 Houston Ship Channel 32,500 $ (0.02) Q1-Q4 2019 Transco Zone 4 7,397 $ (0.03)
Open NGL Derivative Positions [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	Price Swaps Period Product Volume (Bbls/d) Weighted Average Price ($/Bbl) Q2-Q4 2018 Ethane 6,500 $ 11.86 Q2-Q4 2018 Natural Gasoline 5,500 $ 54.24 Q2-Q4 2018 Normal Butane 6,750 $ 38.46 Q2-Q4 2018 Propane 10,500 $ 33.30
Gas Processing And Fractionation Open Positions [Member] | EnLink [Member]
Derivative [Line Items]
Schedule Of Open Derivative Positions	Period Product Volume (Total) Weighted Average Price Paid Weighted Average Price Received Q2 2018-Q1 2019 Propane 688 MBbls Index $0.75/gal Q2 2018-Q4 2019 Natural Gas 71,418 MMBtu/d Index $2.10/MMBtu

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2018
Schedule Of Share-Based Compensation Expense Included In The Consolidated Comprehensive Statements Of Earnings	Three Months Ended March 31, 2018 2017 G&A $ 37 $ 34 Exploration expenses 2 2 Total Devon 39 36 G&A 3 14 Marketing and midstream expenses 2 5 Total EnLink 5 19 Total $ 44 $ 55 Related income tax benefit $ 1 $ 1
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 12/31/17 6,328 $ 36.81 575 $ 38.92 2,758 $ 41.21 Granted 3,425 $ 35.77 — $ — 845 $ 37.40 Vested (2,286 ) $ 38.82 (227 ) $ 43.14 (571 ) $ 84.22 Forfeited (85 ) $ 35.13 — $ — (3 ) $ 27.12 Unvested at 3/31/18 7,382 $ 35.72 348 $ 36.17 3,029 (1 ) $ 30.35 (1) A maximum of 6.1 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	2018 Grant-date fair value $36.23 — $ 37.88 Risk-free interest rate 2.28% Volatility factor 45.8% Contractual term (years) 2.89
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 $ 213 $ 3 $ 53 Weighted average period for recognition (years) 2.9 1.5 2.2
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 $ 19 $ 8 $ 20 $ 8 Weighted average period for recognition (years) 2.1 2.3 2.2 2.3

Other Expenses (Tables)

Other Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Other Income And Expenses [Abstract]
Schedule Of Other Expenses Presented In The Accompanying Consolidated Comprehensive Statements of Earnings	The following table summarizes Devon’s other expenses presented in the accompanying consolidated comprehensive statement of earnings. Three Months Ended March 31, 2018 2017 Foreign exchange (gain) loss, net $ 50 $ (15 ) Asset retirement obligation accretion 16 17 Other, net (47 ) (33 ) Total $ 19 $ (31 )
Schedule Of The Activity And Balances Associated With Restructuring Liabilities	The following table summarizes Devon’s restructuring liabilities. Other Other Current Long-term Liabilities Liabilities Total Balance as of December 31, 2017 $ 19 $ 31 $ 50 Changes related to prior years' restructurings (1 ) (4 ) (5 ) Balance as of March 31, 2018 $ 18 $ 27 $ 45 Balance as of December 31, 2016 48 62 110 Changes related to prior years' restructurings (15 ) (5 ) (20 ) Balance as of March 31, 2017 $ 33 $ 57 $ 90

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Schedule Of Effective Income Tax Rate Reconciliation	Three Months Ended March 31, 2018 2017 Current income tax expense $ 4 $ 20 Deferred income tax benefit (32 ) (12 ) Total income tax expense (benefit) $ (28 ) $ 8 U.S. statutory income tax rate 21 % 35 % State income taxes 1 % 2 % Other (5 %) (1 %) Deferred tax asset valuation allowance (2 %) (34 %) Effective income tax rate 15 % 2 %

Net Earnings (Loss) Per Share36

Net Earnings (Loss) Per Share Attributable to Devon (Tables)	3 Months Ended
	Mar. 31, 2018
Earnings Per Share [Abstract]
Net Earnings (Loss) Per Share Computations	Three Months Ended March 31, 2018 2017 Net earnings (loss): Net earnings (loss) attributable to Devon $ (197 ) $ 303 Attributable to participating securities — (3 ) Basic and diluted earnings (loss) $ (197 ) $ 300 Common shares: Common shares outstanding - total 527 525 Attributable to participating securities (7 ) (6 ) Common shares outstanding - basic 520 519 Dilutive effect of potential common shares issuable — 3 Common shares outstanding - diluted 520 522 Net earnings (loss) per share attributable to Devon: Basic $ (0.38 ) $ 0.58 Diluted $ (0.38 ) $ 0.58 Antidilutive options (1) 2 3 (1) Amounts represent options to purchase shares of Devon’s common stock that are excluded from the diluted net earnings per share calculations because the options are antidilutive.

Other Comprehensive Earnings (T

Other Comprehensive Earnings (Tables)	3 Months Ended
	Mar. 31, 2018
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Components Of Other Comprehensive Earnings	Three Months Ended March 31, 2018 2017 Foreign currency translation and other: Beginning accumulated foreign currency translation and other $ 1,309 $ 1,226 Change in cumulative translation adjustment and other (61 ) 11 Income tax benefit (expense) 13 (3 ) Ending accumulated foreign currency translation and other 1,261 $ 1,234 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (143 ) (172 ) Recognition of net actuarial loss and prior service cost in earnings (1) 4 5 Ending accumulated pension and postretirement benefits (139 ) (167 ) Accumulated other comprehensive earnings, net of tax $ 1,122 $ 1,067 (1) These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of Other expenses in the accompanying consolidated comprehensive statements of earnings. See Note 18

Supplemental Information To S38

Supplemental Information To Statements Of Cash Flows (Tables)	3 Months Ended
	Mar. 31, 2018
Supplemental Cash Flow Elements [Abstract]
Schedule Of Supplemental Information To Statements Of Cash Flows	Three Months Ended March 31, 2018 2017 Changes in assets and liabilities, net Accounts receivable $ (27 ) $ 48 Other current assets (79 ) (21 ) Other long-term assets (52 ) 1 Accounts payable 14 4 Revenues and royalties payable 84 73 Other current liabilities 76 (89 ) Other long-term liabilities (10 ) 20 Total $ 6 $ 36 Interest paid (net of capitalized interest) $ 76 $ 92 Income taxes paid $ 1 $ 3

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2018
Accounts Receivable Net [Abstract]
Schedule Of Components Of Accounts Receivable	Components of accounts receivable include the following: March 31, 2018 December 31, 2017 Oil, gas and NGL sales $ 536 $ 559 Joint interest billings 132 134 Marketing and midstream revenues 989 959 Other 50 29 Gross accounts receivable 1,707 1,681 Allowance for doubtful accounts (12 ) (11 ) Net accounts receivable $ 1,695 $ 1,670

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2018
Extractive Industries [Abstract]
Table of Property and Equipment, net	The following table presents the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities. March 31, 2018 December 31, 2017 Property and equipment, at cost: Proved $ 47,685 $ 47,295 Unproved and properties under development 2,478 2,457 Total oil and gas 50,163 49,752 Less accumulated DD&A (36,688 ) (36,434 ) Oil and gas property and equipment, net 13,475 13,318 EnLink midstream and other 9,298 9,120 Devon midstream and other 1,957 1,955 Less accumulated DD&A (3,347 ) (3,222 ) Midstream and other property and equipment, net 7,908 7,853 Property and equipment, net $ 21,383 $ 21,171

Other Intangible Assets (Tables

Other Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2018
General Partner And EnLink [Member]
Schedule Of Other Intangible Assets	March 31, 2018 December 31, 2017 Customer relationships $ 1,796 $ 1,796 Accumulated amortization (330 ) (299 ) Net intangibles $ 1,466 $ 1,497

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2018
Other Liabilities Disclosure [Abstract]
Schedule Of Other Current Liabilities	March 31, 2018 December 31, 2017 Derivative liabilities $ 350 $ 331 Installment payment — 250 Income taxes payable 142 145 Accrued interest payable 147 131 Restructuring liabilities 18 19 Other 340 325 Other current liabilities $ 997 $ 1,201

Debt And Related Expenses (Tabl

Debt And Related Expenses (Tables)	3 Months Ended
	Mar. 31, 2018
Debt Disclosure [Abstract]
Schedule Of Debt Instruments and Balances	A summary of debt is as follows: March 31, 2018 December 31, 2017 Devon debt: 8.25% due July 1, 2018 $ 20 $ 20 2.25% due December 15, 2018 95 95 6.30% due January 15, 2019 162 162 4.00% due July 15, 2021 500 500 3.25% due May 15, 2022 1,000 1,000 5.85% due December 15, 2025 485 485 7.50% due September 15, 2027 73 73 7.875% due September 30, 2031 (1) 675 1,059 7.95% due April 15, 2032 (1) 366 789 5.60% due July 15, 2041 1,250 1,250 4.75% due May 15, 2042 750 750 5.00% due June 15, 2045 750 750 Net discount on debentures and notes (25 ) (30 ) Debt issuance costs (35 ) (39 ) Total Devon debt 6,066 6,864 EnLink and General Partner debt: Credit facilities 447 74 2.70% due April 1, 2019 400 400 4.40% due April 1, 2024 550 550 4.15% due June 1, 2025 750 750 4.85% due July 15, 2026 500 500 5.60% due April 1, 2044 350 350 5.05% due April 1, 2045 450 450 5.45% due June 1, 2047 500 500 Net discount on debentures and notes (6 ) (6 ) Debt issuance costs (25 ) (26 ) Total EnLink and General Partner debt 3,916 3,542 Total debt 9,982 10,406 Less amount classified as short-term debt (2) 354 115 Total long-term debt $ 9,628 $ 10,291 (1) These senior notes were included in the 2018 tender offer repurchases discussed below. (2) Short-term debt as of March 31, 2018 consists of Devon’s $20 million of 8.25% senior notes due July 1, 2018, $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019 and $77 million of borrowings under the General Partner’s credit facility due March 7, 2019.
Schedule Of Net Financing Cost Components	Three Months Ended March 31, 2018 2017 Devon net financing costs: Interest based on debt outstanding $ 96 $ 97 Early retirement of debt 312 — Capitalized interest (18 ) (16 ) Other (3 ) 2 Total Devon net financing costs 387 83 EnLink net financing costs: Interest based on debt outstanding 44 40 Interest accretion on deferred installment payment 1 7 Other (1 ) (2 ) Total EnLink net financing costs 44 45 Total net financing costs $ 431 $ 128

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Summary Of Changes In Asset Retirement Obligations	Three Months Ended March 31, 2018 2017 Asset retirement obligations as of beginning of period $ 1,152 $ 1,272 Liabilities incurred and assumed through acquisitions 15 10 Liabilities settled and divested (20 ) (13 ) Revision of estimated obligation 23 (184 ) Accretion expense on discounted obligation 16 17 Foreign currency translation adjustment (13 ) 4 Asset retirement obligations as of end of period 1,173 1,106 Less current portion 32 39 Asset retirement obligations, long-term $ 1,141 $ 1,067

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2018
Compensation And Retirement Disclosure [Abstract]
Schedule Of Net Periodic Benefit Cost For Pension Benefit Plans	Pension Benefits Three Months Ended March 31, 2018 2017 Service cost $ 3 $ 4 Interest cost 10 11 Expected return on plan assets (14 ) (14 ) Amortization of prior service cost (1) — 1 Net actuarial loss (1) 4 4 Net periodic benefit cost (2) $ 3 $ 6 (1) These net periodic benefit costs were reclassified out of other comprehensive earnings. (2) The service cost component of net periodic benefit cost is included in G&A expense and the remaining components of net periodic benefit costs are included in Other expenses in the accompanying consolidated comprehensive statements of earnings.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2018
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 Amount Value Inputs Inputs March 31, 2018 assets (liabilities): Cash equivalents $ 335 $ 335 $ 259 $ 76 Commodity derivatives $ 215 $ 215 $ — $ 215 Commodity derivatives $ (355 ) $ (355 ) $ — $ (355 ) Interest rate derivatives $ 1 $ 1 $ — $ 1 Interest rate derivatives $ (22 ) $ (22 ) $ — $ (22 ) Debt $ (9,982 ) $ (10,719 ) $ — $ (10,719 ) Capital lease obligations $ (4 ) $ (3 ) $ — $ (3 ) December 31, 2017 assets (liabilities): Cash equivalents $ 1,533 $ 1,533 $ 1,454 $ 79 Commodity derivatives $ 211 $ 211 $ — $ 211 Commodity derivatives $ (294 ) $ (294 ) $ — $ (294 ) Interest rate derivatives $ 1 $ 1 $ — $ 1 Interest rate derivatives $ (64 ) $ (64 ) $ — $ (64 ) Debt $ (10,406 ) $ (11,782 ) $ — $ (11,782 ) Installment payment $ (250 ) $ (250 ) $ — $ (250 ) Capital lease obligations $ (4 ) $ (3 ) $ — $ (3 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2018
Segment Reporting [Abstract]
Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments	U.S. Canada EnLink Eliminations Total Three Months Ended March 31, 2018: Revenues from external customers $ 1,879 $ 319 $ 1,612 $ — $ 3,810 Intersegment revenues $ — $ — $ 149 $ (149 ) $ — Depreciation, depletion and amortization $ 305 $ 94 $ 138 $ — $ 537 Interest expense $ 247 $ 164 $ 44 $ (16 ) $ 439 Asset dispositions $ (12 ) $ — $ — $ — $ (12 ) Earnings (loss) before income taxes $ (100 ) $ (145 ) $ 64 $ — $ (181 ) Income tax expense (benefit) $ 1 $ (35 ) $ 6 $ — $ (28 ) Net earnings (loss) $ (101 ) $ (110 ) $ 58 $ — $ (153 ) Net earnings attributable to noncontrolling interests $ — $ — $ 44 $ — $ 44 Net earnings (loss) attributable to Devon $ (101 ) $ (110 ) $ 14 $ — $ (197 ) Property and equipment, net $ 10,538 $ 4,186 $ 6,659 $ — $ 21,383 Total assets $ 13,477 $ 5,271 $ 10,615 $ (47 ) $ 29,316 Capital expenditures, including acquisitions $ 612 $ 89 $ 181 $ — $ 882 Three Months Ended March 31, 2017: Revenues from external customers $ 2,081 $ 319 $ 1,151 $ — $ 3,551 Intersegment revenues $ — $ — $ 171 $ (171 ) $ — Depreciation, depletion and amortization $ 302 $ 98 $ 128 $ — $ 528 Interest expense $ 80 $ 20 $ 45 $ (15 ) $ 130 Asset impairments $ — $ — $ 7 $ — $ 7 Asset dispositions $ (7 ) $ (1 ) $ 5 $ — $ (3 ) Earnings (loss) before income taxes $ 325 $ (12 ) $ 12 $ — $ 325 Income tax expense $ 3 $ 2 $ 3 $ — $ 8 Net earnings (loss) $ 322 $ (14 ) $ 9 $ — $ 317 Net earnings attributable to noncontrolling interests $ — $ — $ 14 $ — $ 14 Net earnings (loss) attributable to Devon $ 322 $ (14 ) $ (5 ) $ — $ 303 Property and equipment, net $ 10,030 $ 4,078 $ 6,396 $ — $ 20,504 Total assets $ 13,644 $ 4,869 $ 10,177 $ (55 ) $ 28,635 Capital expenditures, including acquisitions $ 346 $ 82 $ 248 $ — $ 676

Revenue Recognition (Schedule o

Revenue Recognition (Schedule of Impact of Adoption) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Upstream revenues	$ 1,319	$ 1,541
Marketing and midstream revenues	2,491	2,010
Total impacted revenues	3,810	3,551
Production expenses	543	457
Marketing and midstream expenses	2,214	1,814
Total impacted expenses	2,757
Earnings (loss) before income taxes	(181)	$ 325
Under ASC 605 [Member] | Accounting Standards Update 2014-09
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Upstream revenues	1,257
Marketing and midstream revenues	2,629
Total impacted revenues	3,886
Production expenses	481
Marketing and midstream expenses	2,352
Total impacted expenses	2,833
Earnings (loss) before income taxes	(181)
Increase/(Decrease) of Under ASC 606 and Under ASC 605 [Member] | Accounting Standards Update 2014-09
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Upstream revenues	62
Marketing and midstream revenues	(138)
Total impacted revenues	(76)
Production expenses	62
Marketing and midstream expenses	(138)
Total impacted expenses	$ (76)

Revenue Recognition (Narrative)

Revenue Recognition (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018
Major Customer Accounting For More Than 10 Percent Of Operating Revenues [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Concentration risk percentage	0.00%
Upstream Revenues [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Number of days allowed for payment of invoiced amount	30 days
Marketing And Midstream Revenues [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Number of days allowed for payment of invoiced amount	30 days

Revenue Recognition (Schedule50

Revenue Recognition (Schedule of Revenue from Contracts with Customers that are Disaggregated Based on Type of Good or Service) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018		Mar. 31, 2017
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		$ 1,360
Oil, gas and NGL derivatives		(41)		$ 232
Total upstream revenues		1,319		1,541
Marketing and midstream revenues		2,491		2,010
Total revenues from contracts with customers		3,810		3,551
Oil [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		907
Gas [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		255
NGL [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		198
Operating Segments [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		1,130
Oil, gas and NGL derivatives		(113)
Total upstream revenues		1,017
Total revenues from contracts with customers		1,879		2,081
Operating Segments [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		230
Oil, gas and NGL derivatives		72
Total upstream revenues		302
Total revenues from contracts with customers		319		319
Operating Segments [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers		1,612	[1]	$ 1,151
Operating Segments [Member] | Oil [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		677
Operating Segments [Member] | Oil [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		230
Operating Segments [Member] | Gas [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		255
Operating Segments [Member] | NGL [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL sales		198
Marketing And Midstream Revenues [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		2,491
Marketing And Midstream Revenues [Member] | Gathering and Transportation [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		56
Marketing And Midstream Revenues [Member] | Processing [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		15
Marketing And Midstream Revenues [Member] | NGL Services [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		16
Marketing And Midstream Revenues [Member] | Oil Services [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		6
Marketing And Midstream Revenues [Member] | Midstream Services [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		93
Marketing And Midstream Revenues [Member] | Gas [member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		441
Marketing And Midstream Revenues [Member] | NGL [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		777
Marketing And Midstream Revenues [Member] | Oil and Condensate [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		1,180
Marketing And Midstream Revenues [Member] | Product [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		2,398
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		862
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		17
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	1,612
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Gathering and Transportation [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	56
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Processing [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	15
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | NGL Services [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	16
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Oil Services [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	6
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Midstream Services [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	93
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Gas [member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		155
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Gas [member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	286
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | NGL [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		176
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | NGL [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	601
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Oil and Condensate [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		531
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Oil and Condensate [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		17
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Oil and Condensate [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	632
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Product [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		862
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Product [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues		17
Marketing And Midstream Revenues [Member] | Operating Segments [Member] | Product [Member] | General Partner And EnLink [Member]
Disaggregation Of Revenue [Line Items]
Marketing and midstream revenues	[1]	$ 1,519
[1]	Amounts presented net of eliminations

Acquisitions And Divestitures (

Acquisitions And Divestitures (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Jun. 30, 2018	Mar. 31, 2018	Mar. 31, 2017
Business Acquisition [Line Items]
Divestitures of property and equipment		$ 48	$ 32
Gain recognition		$ 12	3
Proceeds from sale of investment			190
EnLink [Member] | Howard Energy Partners [Member]
Business Acquisition [Line Items]
Proceeds from sale of investment			$ 190
Barnett Shale [Member] | Scenario Forecast [Member]
Business Acquisition [Line Items]
Percentage of Estimated proved reserves associated with divestiture assets	10.00%
Divestitures of property and equipment	$ 553
Gain recognition	0
Settlement expense relating to gas processing contracts	$ 40

Derivative Financial Instrume52

Derivative Financial Instruments (Schedule Of Open Oil Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2018$ / bblbbl
NYMEX West Texas Intermediate Price Swaps Oil Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	58,855
Weighted Average Price Swap	53.74
NYMEX West Texas Intermediate Price Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	17,030
Weighted Average Price Swap	55.37
NYMEX West Texas Intermediate Price Collars Oil Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	83,167
Weighted Average Floor Price	50.28
Weighted Average Ceiling Price	60.28
NYMEX West Texas Intermediate Price Collars Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	43,290
Weighted Average Floor Price	50.94
Weighted Average Ceiling Price	60.94
Midland Sweet Basis Swaps Oil Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	23,000
Weighted Average Differential To WTI	(1.02)
Argus LLS Basis Swaps Oil Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	12,000
Weighted Average Differential To WTI	3.95
Western Canadian Select Basis Swaps Oil Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	69,018
Weighted Average Differential To WTI	(14.91)
Midland Sweet Basis Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	28,000
Weighted Average Differential To WTI	(0.46)
Western Canadian Select Basis Collars Oil Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	1,775
Weighted Average Floor Differential to WTI	(15.50)
Weighted Average Ceiling Differential to WTI	(13.93)

Derivative Financial Instrume53

Derivative Financial Instruments (Schedule Of Open Natural Gas Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2018MMBTU$ / MMBTU
FERC Henry Hub Price Swaps Natural Gas Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	378,033
Weighted Average Price Swap	2.97
FERC Henry Hub Price Swaps Natural Gas Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	52,622
Weighted Average Price Swap	2.90
FERC Henry Hub Price Collars Natural Gas Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	201,867
Weighted Average Floor Price	2.79
Weighted Average Ceiling Price	3.10
FERC Henry Hub Price Collars Natural Gas Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	52,844
Weighted Average Floor Price	2.77
Weighted Average Ceiling Price	3.07
NYMEX Natural Gas Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	128,164
Weighted Average Price Swap	2.78
NYMEX Natural Gas Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	116,364
Weighted Average Price Swap	2.73
PEPL Basis Swaps Natural Gas Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	90,000
Weighted Average Differential To Henry Hub	(0.43)
El Paso Natural Gas Basis Swaps Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	30,000
Weighted Average Differential To Henry Hub	(0.85)
Houston Ship Channel Natural Gas Basis Swaps Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	60,000
Weighted Average Differential To Henry Hub	(0.01)
Transco Zone 4 Natural Gas Basis Swaps Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	10,036
Weighted Average Differential To Henry Hub	(0.03)
Houston Ship Channel Natural Gas Basis Swaps Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	32,500
Weighted Average Differential To Henry Hub	(0.02)
Transco Zone 4 Natural Gas Basis Swaps Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	7,397
Weighted Average Differential To Henry Hub	(0.03)

Derivative Financial Instrume54

Derivative Financial Instruments (Schedule Of Open NGL Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2018$ / bblbbl
OPIS Mont Belvieu Texas Ethane Price Swaps NGL Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	6,500
Weighted Average Price Swap | $ / bbl	11.86
OPIS Mont Belvieu Texas Natural Gasoline Price Swaps NGL Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	5,500
Weighted Average Price Swap | $ / bbl	54.24
OPIS Mont Belvieu Texas Normal Butane Price Swaps NGL Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	6,750
Weighted Average Price Swap | $ / bbl	38.46
OPIS Mont Belvieu Texas Propane Price Swaps NGL Q2-Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	10,500
Weighted Average Price Swap | $ / bbl	33.30

Derivative Financial Instrume55

Derivative Financial Instruments (Schedule Of Gas Processing and Fractionation Open Positions) (Details) - EnLink [Member]	3 Months Ended
	Mar. 31, 2018MMBTU$ / MMBTU$ / galMBbls
OPIS Mont Belvieu Texas Propane Basis Swap Q2 2018-Q1 2019 [Member]
Derivative [Line Items]
Volume (MBbls) | MBbls	688
Weighted average price paid	Index
Weighted average price received | $ / gal	0.75
Henry Hub Natural Gas Basis Swap Q2 2018 - Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	71,418
Weighted average price paid	Index
Weighted average price received | $ / MMBTU	2.10

Derivative Financial Instrume56

Derivative Financial Instruments (Schedule Of Open Interest Rate Swap Derivative Positions) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
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
	Mar. 31, 2018	Mar. 31, 2017
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ 6	$ 241
Commodity Derivatives [Member] | Upstream Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	(41)	232
Commodity Derivatives [Member] | Marketing And Midstream Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	1	4
Interest Rate Derivatives [Member] | Other Expenses [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ 46	$ 5

Derivative Financial Instrume58

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Derivatives Fair Value [Line Items]
Fair value of derivative assets	$ 216	$ 212
Fair value of derivative liabilities	377	358
Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	350	331
Commodity Derivatives [Member] | Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	193	209
Commodity Derivatives [Member] | Other Long-Term Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	22	2
Commodity Derivatives [Member] | Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	328	267
Commodity Derivatives [Member] | Other Long-Term Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	27	27
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 Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	$ 22	$ 64

Share-Based Compensation (Sched

Share-Based Compensation (Schedule Of Share-Based Compensation Expense Included In The Consolidated Comprehensive Statements Of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 44	$ 55
Related income tax benefit	1	1
Devon [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	39	36
General Partner And EnLink [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	5	19
G&A [Member] | Devon [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	37	34
G&A [Member] | General Partner And EnLink [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	3	14
Exploration Expenses [Member] | Devon [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	2	2
Marketing And Midstream Expenses [Member] | General Partner And EnLink [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 2	$ 5

Share-Based Compensation (Summa

Share-Based Compensation (Summary Of Unvested Restricted Stock Awards and Units, Performance-Based Restricted Stock Awards And Performance Share Units) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2018$ / sharesshares
Restricted Stock Awards And Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested at December 31, 2017 | shares	6,328
Granted, awards and units | shares	3,425
Vested, awards and units | shares	(2,286)
Forfeited, awards and units | shares	(85)
Unvested at March 31, 2018 | shares	7,382
Unvested weighted average grant-date fair value at December 31, 2017 | $ / shares	$ 36.81
Granted, weighted average grant-date fair value | $ / shares	35.77
Vested, weighted average grant-date fair value | $ / shares	38.82
Forfeited, weighted average grant-date fair value | $ / shares	35.13
Unvested weighted average grant-date fair value at March 31, 2018 | $ / shares	$ 35.72
Performance-Based Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested at December 31, 2017 | shares	575
Vested, awards and units | shares	(227)
Unvested at March 31, 2018 | shares	348
Unvested weighted average grant-date fair value at December 31, 2017 | $ / shares	$ 38.92
Vested, weighted average grant-date fair value | $ / shares	43.14
Unvested weighted average grant-date fair value at March 31, 2018 | $ / shares	$ 36.17
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested at December 31, 2017 | shares	2,758
Granted, awards and units | shares	845
Vested, awards and units | shares	(571)
Forfeited, awards and units | shares	(3)
Unvested at March 31, 2018 | shares	3,029	[1]
Unvested weighted average grant-date fair value at December 31, 2017 | $ / shares	$ 41.21
Granted, weighted average grant-date fair value | $ / shares	37.40
Vested, weighted average grant-date fair value | $ / shares	84.22
Forfeited, weighted average grant-date fair value | $ / shares	27.12
Unvested weighted average grant-date fair value at March 31, 2018 | $ / shares	$ 30.35
[1]	A maximum of 6.1 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 (Sum61

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	3 Months Ended
	Mar. 31, 2018shares
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	6.1

Share-Based Compensation (Sum62

Share-Based Compensation (Summary Of Performance Share Units Grant-Date Fair Values And Their Related Assumptions) (Details) - Performance Share Units [Member]	3 Months Ended
	Mar. 31, 2018$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 37.40
Risk-free interest rate	2.28%
Volatility factor	45.80%
Contractual term (years)	2 years 10 months 20 days
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 36.23
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 37.88

Share-Based Compensation (Sum63

Share-Based Compensation (Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 213
Weighted average period for recognition (years)	2 years 10 months 24 days
Performance-Based Restricted Stock Awards [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 3
Weighted average period for recognition (years)	1 year 6 months
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 53
Weighted average period for recognition (years)	2 years 2 months 12 days

Share-Based Compensation (Narra

Share-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 44	$ 55
General Partner And EnLink [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	5	19
General Partner And EnLink [Member] | Restricted Stock Awards And Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 6	$ 10

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	3 Months Ended
	Mar. 31, 2018USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 213
Weighted average period for recognition (years)	2 years 10 months 24 days
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 53
Weighted average period for recognition (years)	2 years 2 months 12 days
General Partner [Member] | Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 19
Weighted average period for recognition (years)	2 years 1 month 6 days
General Partner [Member] | Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 8
Weighted average period for recognition (years)	2 years 3 months 18 days
EnLink [Member] | Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 20
Weighted average period for recognition (years)	2 years 2 months 12 days
EnLink [Member] | Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 8
Weighted average period for recognition (years)	2 years 3 months 18 days

Asset Impairments (Narrative) (

Asset Impairments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments		$ 7
Unproved Impairments [Member]
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments	$ 8	$ 41

Other Expenses (Schedule Of Oth

Other Expenses (Schedule Of Other Expenses Presented In The Accompanying Consolidated Comprehensive Statements of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Other Income And Expenses [Abstract]
Foreign exchange (gain) loss, net	$ 50	$ (15)
Asset retirement obligation accretion	16	17
Other, net	(47)	(33)
Total	$ 19	$ (31)

Other Expenses (Schedule Of The

Other Expenses (Schedule Of The Activity And Balances Associated With Restructuring Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Restructuring Cost And Reserve [Line Items]
Beginning balance	$ 50	$ 110
Ending balance	45	90
Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(5)	(20)
Other Current Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	19	48
Ending balance	18	33
Other Current Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(1)	(15)
Other Long-Term Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	31	62
Ending balance	27	57
Other Long-Term Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	$ (4)	$ (5)

Other Expenses (Narrative) (Det

Other Expenses (Narrative) (Details) $ in Millions	Mar. 31, 2018USD ($)
Minimum [Member]
Restructuring Cost And Reserve [Line Items]
Expected restructuring charges	$ 75
Maximum [Member]
Restructuring Cost And Reserve [Line Items]
Expected restructuring charges	$ 100

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Current income tax expense	$ 4	$ 20
Deferred income tax benefit	(32)	(12)
Total income tax expense (benefit)	$ (28)	$ 8
U.S. statutory income tax rate	21.00%	35.00%
State income taxes	1.00%	2.00%
Other	(5.00%)	(1.00%)
Deferred tax asset valuation allowance	(2.00%)	(34.00%)
Effective income tax rate	15.00%	2.00%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Income Tax [Line Items]
U.S. statutory income tax rate	21.00%	35.00%
Valuation allowance against U.S. deferred tax assets, percent	100.00%		100.00%
Foreign earnings repatriated	$ 92
Current income tax expense	4	$ 20
Repatriated Earnings [Member]
Income Tax [Line Items]
Current income tax expense	$ 0

Net Earnings (Loss) Per Share72

Net Earnings (Loss) Per Share Attributable To Devon (Earnings Per Share Computations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Net earnings (loss):
Net earnings (loss) attributable to Devon		$ (197)	$ 303
Attributable to participating securities			(3)
Basic and diluted earnings (loss)		$ (197)	$ 300
Common shares:
Common shares outstanding - total		527	525
Attributable to participating securities		(7)	(6)
Common shares outstanding - basic		520	519
Dilutive effect of potential common shares issuable			3
Common shares outstanding - diluted		520	522
Net earnings (loss) per share attributable to Devon:
Basic		$ (0.38)	$ 0.58
Diluted		$ (0.38)	$ 0.58
Antidilutive options	[1]	2	3
[1]	Amounts represent options to purchase shares of Devon’s common stock that are excluded from the diluted net earnings per share calculations because the options are antidilutive.

Other Comprehensive Earnings (C

Other Comprehensive Earnings (Components Of Other Comprehensive Earnings) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Foreign currency translation and other:
Beginning accumulated foreign currency translation and other		$ 1,309	$ 1,226
Change in cumulative translation adjustment and other		(61)	11
Income tax benefit (expense)		13	(3)
Ending accumulated foreign currency translation and other		1,261	1,234
Pension and postretirement benefit plans:
Beginning accumulated pension and postretirement benefits		(143)	(172)
Recognition of net actuarial loss and prior service cost in earnings	[1]	4	5
Ending accumulated pension and postretirement benefits		(139)	(167)
Accumulated other comprehensive earnings, net of tax		$ 1,122	$ 1,067	$ 1,166
[1]	These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of Other expenses in the accompanying consolidated comprehensive statements of earnings. See Note 18 for additional details.

Supplemental Information To S74

Supplemental Information To Statements Of Cash Flows (Schedule Of Supplemental Information To Statements Of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Changes in assets and liabilities, net
Accounts receivable	$ (27)	$ 48
Other current assets	(79)	(21)
Other long-term assets	(52)	1
Accounts payable	14	4
Revenues and royalties payable	84	73
Other current liabilities	76	(89)
Other long-term liabilities	(10)	20
Total	6	36
Interest paid (net of capitalized interest)	76	92
Income taxes paid	$ 1	$ 3

Accounts Receivable (Schedule O

Accounts Receivable (Schedule Of Components Of Accounts Receivable) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Joint interest billings	$ 132	$ 134
Other	50	29
Gross accounts receivable	1,707	1,681
Allowance for doubtful accounts	(12)	(11)
Net accounts receivable	1,695	1,670
Oil, Gas and NGL Sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	536	559
Marketing And Midstream Revenues [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	$ 989	$ 959

Property, Plant and Equipment -

Property, Plant and Equipment - Table of Property and Equipment, net (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017	Mar. 31, 2017
Property and equipment, at cost:
Proved	$ 47,685	$ 47,295
Unproved and properties under development	2,478	2,457
Total oil and gas	50,163	49,752
Less accumulated DD&A	(36,688)	(36,434)
Oil and gas property and equipment, net	13,475	13,318
Less accumulated DD&A	(3,347)	(3,222)
Midstream and other property and equipment, net	7,908	7,853
Total property and equipment, net	21,383	21,171	$ 20,504
EnLink [Member]
Property and equipment, at cost:
Midstream and other	9,298	9,120
Devon [Member]
Property and equipment, at cost:
Midstream and other	$ 1,957	$ 1,955

Other Intangible Assets (Schedu

Other Intangible Assets (Schedule Of Other Intangible Assets) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Goodwill And Intangible Assets Disclosure [Abstract]
Customer relationships	$ 1,796	$ 1,796
Accumulated amortization	(330)	(299)
Net intangibles	$ 1,466	$ 1,497

Other Intangible Assets (Narrat

Other Intangible Assets (Narrative) (Details) - Customer Relationships [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Finite Lived Intangible Assets [Line Items]
Weighted average amortization period, customer relationships	15 years
Amortization expense of intangible assets	$ 31	$ 29
Amortization expense, for each of the next five years	$ 123

Other Current Liabilities (Sche

Other Current Liabilities (Schedule Of Other Current Liabilities) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Other Liabilities, Current [Abstract]
Derivative liabilities	$ 377	$ 358
Income taxes payable	142	145
Accrued interest payable	147	131
Restructuring liabilities	18	19
Other	340	325
Other current liabilities	997	1,201
Installment Payable, Current [Member]
Other Liabilities, Current [Abstract]
Installment payment		250
Other Current Liabilities [Member]
Other Liabilities, Current [Abstract]
Derivative liabilities	$ 350	$ 331

Debt And Related Expenses (Sche

Debt And Related Expenses (Schedule Of Debt Instruments and Balances) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Short-term debt	[1]	$ 354	$ 115
Total debt		9,982	10,406
Total long-term debt		9,628	10,291
8.25% Due July 1, 2018 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 20
Debt, maturity date		Jul. 1, 2018
Debt interest rate, stated percentage		8.25%
2.25% Due December 15, 2018 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 95
Debt, maturity date		Dec. 15, 2018
Debt interest rate, stated percentage		2.25%
6.30% Due January 15, 2019 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 162
Debt, maturity date		Jan. 15, 2019
Debt interest rate, stated percentage		6.30%
Devon [Member]
Debt Instrument [Line Items]
Net discount on debentures and notes		$ (25)	(30)
Debt issuance costs		(35)	(39)
Total debt		6,066	6,864
Devon [Member] | 8.25% Due July 1, 2018 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 20	$ 20
Debt, maturity date		Jul. 1, 2018
Debt interest rate, stated percentage		8.25%	8.25%
Devon [Member] | 2.25% Due December 15, 2018 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 95	$ 95
Debt, maturity date		Dec. 15, 2018
Debt interest rate, stated percentage		2.25%	2.25%
Devon [Member] | 6.30% Due January 15, 2019 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 162
Long-term debt, gross			$ 162
Debt, maturity date		Jan. 15, 2019
Debt interest rate, stated percentage		6.30%	6.30%
Devon [Member] | 4.00% Due July 15, 2021 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 500	$ 500
Debt, maturity date		Jul. 15, 2021
Debt interest rate, stated percentage		4.00%	4.00%
Devon [Member] | 3.25% due May 15, 2022 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,000	$ 1,000
Debt, maturity date		May 15, 2022
Debt interest rate, stated percentage		3.25%	3.25%
Devon [Member] | 5.85% due December 15, 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 485	$ 485
Debt, maturity date		Dec. 15, 2025
Debt interest rate, stated percentage		5.85%	5.85%
Devon [Member] | 7.50% due September 15, 2027 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 73	$ 73
Debt, maturity date		Sep. 15, 2027
Debt interest rate, stated percentage		7.50%	7.50%
Devon [Member] | 7.875% due September 30, 2031 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 675	$ 1,059
Debt, maturity date		Sep. 30, 2031
Debt interest rate, stated percentage		7.875%	7.875%
Devon [Member] | 7.95% due April 15, 2032 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	[2]	$ 366	$ 789
Debt, maturity date		Apr. 15, 2032
Debt interest rate, stated percentage		7.95%	7.95%
Devon [Member] | 5.60% due July 15, 2041 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 1,250	$ 1,250
Debt, maturity date		Jul. 15, 2041
Debt interest rate, stated percentage		5.60%	5.60%
Devon [Member] | 4.75% due May 15, 2042 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 750	$ 750
Debt, maturity date		May 15, 2042
Debt interest rate, stated percentage		4.75%	4.75%
Devon [Member] | 5.00% due June 15, 2045 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 750	$ 750
Debt, maturity date		Jun. 15, 2045
Debt interest rate, stated percentage		5.00%	5.00%
General Partner And EnLink [Member]
Debt Instrument [Line Items]
Credit facilities		$ 447	$ 74
Net discount on debentures and notes		(6)	(6)
Debt issuance costs		(25)	(26)
Total debt		3,916	3,542
General Partner And EnLink [Member] | 2.70% due April 1, 2019 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 400	$ 400
Debt, maturity date		Apr. 1, 2019
Debt interest rate, stated percentage		2.70%	2.70%
General Partner And EnLink [Member] | 4.40% due April 1, 2024 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 550	$ 550
Debt, maturity date		Apr. 1, 2024
Debt interest rate, stated percentage		4.40%	4.40%
General Partner And EnLink [Member] | 4.15% due June 1, 2025 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 750	$ 750
Debt, maturity date		Jun. 1, 2025
Debt interest rate, stated percentage		4.15%	4.15%
General Partner And EnLink [Member] | 4.85% due July 15, 2026 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 500	$ 500
Debt, maturity date		Jul. 15, 2026
Debt interest rate, stated percentage		4.85%	4.85%
General Partner And EnLink [Member] | 5.60% due April 1, 2044 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 350	$ 350
Debt, maturity date		Apr. 1, 2044
Debt interest rate, stated percentage		5.60%	5.60%
General Partner And EnLink [Member] | 5.05% due April 1, 2045 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 450	$ 450
Debt, maturity date		Apr. 1, 2045
Debt interest rate, stated percentage		5.05%	5.05%
General Partner And EnLink [Member] | 5.45% due June 1, 2047 [Member]
Debt Instrument [Line Items]
Long-term debt, gross		$ 500	$ 500
Debt, maturity date		Jun. 1, 2047
Debt interest rate, stated percentage		5.45%	5.45%
[1]	Short-term debt as of March 31, 2018 consists of Devon’s $20 million of 8.25% senior notes due July 1, 2018, $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019 and $77 million of borrowings under the General Partner’s credit facility due March 7, 2019.
[2]	These senior notes were included in the 2018 tender offer repurchases discussed below.

Debt And Related Expenses (Sc81

Debt And Related Expenses (Schedule Of Debt Instruments and Balances) (Parenthetical) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Short-term debt	[1]	$ 354	$ 115
8.25% Due July 1, 2018 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 20
Debt interest rate, stated percentage		8.25%
Debt, maturity date		Jul. 1, 2018
2.25% Due December 15, 2018 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 95
Debt interest rate, stated percentage		2.25%
Debt, maturity date		Dec. 15, 2018
6.30% Due January 15, 2019 [Member]
Debt Instrument [Line Items]
Short-term debt		$ 162
Debt interest rate, stated percentage		6.30%
Debt, maturity date		Jan. 15, 2019
General Partner [Member]
Debt Instrument [Line Items]
Short-term debt		$ 77
Credit facility maturity date		Mar. 7, 2019
[1]	Short-term debt as of March 31, 2018 consists of Devon’s $20 million of 8.25% senior notes due July 1, 2018, $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019 and $77 million of borrowings under the General Partner’s credit facility due March 7, 2019.

Debt And Related Expenses (Narr

Debt And Related Expenses (Narrative) (Details)	3 Months Ended
	Mar. 31, 2018USD ($)
Debt Instrument [Line Items]
Loss on early retirement of debt	$ (312,000,000)
Loss on early retirement of debt, cash retirement costs	304,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes	807,000,000
Loss on early retirement of debt	(312,000,000)
Loss on early retirement of debt, cash retirement costs	304,000,000
Loss on early retirement of debt, noncash charges	8,000,000
7.875% due September 30, 2031 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes	$ 384,000,000
Debt interest rate, stated percentage	7.875%
Debt, maturity date	Sep. 30, 2031
7.95% due April 15, 2032 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes	$ 423,000,000
Debt interest rate, stated percentage	7.95%
Debt, maturity date	Apr. 15, 2032
Senior Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	$ 3,000,000,000
Outstanding credit facility borrowings	$ 0
Debt-to-capitalization ratio	0.262
Outstanding letters of credit	$ 51,000,000
Unsecured Revolving Credit Facility [Member] | EnLink [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	1,500,000,000
Outstanding credit facility borrowings	370,000,000
Outstanding letters of credit	$ 10,000,000
Line Of Credit Facility Interest Rate During Period	3.30%
Revolving Credit Facility [Member] | General Partner [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	$ 250,000,000
Outstanding credit facility borrowings	$ 77,000,000
Line Of Credit Facility Interest Rate During Period	3.50%
Maximum [Member] | Senior Credit Facility [Member]
Debt Instrument [Line Items]
Debt-to-capitalization ratio	0.65

Debt And Related Expenses (Sc83

Debt And Related Expenses (Schedule of Net Financing Cost Components) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Debt Instrument [Line Items]
Early retirement of debt	$ 312
Total net financing costs	431	$ 128
Devon [Member]
Debt Instrument [Line Items]
Interest based on debt outstanding	96	97
Early retirement of debt	312
Capitalized interest	(18)	(16)
Other	(3)	2
Total net financing costs	387	83
EnLink [Member]
Debt Instrument [Line Items]
Interest based on debt outstanding	44	40
Interest accretion on deferred installment payment	1	7
Other	(1)	(2)
Total net financing costs	$ 44	$ 45

Asset Retirement Obligations (S

Asset Retirement Obligations (Summary Of Changes In Asset Retirement Obligations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations as of beginning of period	$ 1,152	$ 1,272
Liabilities incurred and assumed through acquisitions	15	10
Liabilities settled and divested	(20)	(13)
Revision of estimated obligation	23	(184)
Accretion expense on discounted obligation	16	17
Foreign currency translation adjustment	(13)	4
Asset retirement obligations as of end of period	1,173	1,106
Less current portion	32	39
Asset retirement obligations, long-term	$ 1,141	$ 1,067	$ 1,113

Asset Retirement Obligations (N

Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Asset Retirement Obligation [Abstract]
Revision of estimated obligation	$ 23	$ (184)

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit cost	$ 0	$ 0

Retirement Plans (Schedule Of N

Retirement Plans (Schedule Of Net Periodic Benefit Cost For Pension Benefit Plans) (Details) - Pension Benefits [Member] - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2018	Mar. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 3	$ 4
Interest cost		10	11
Expected return on plan assets		(14)	(14)
Amortization of prior service cost	[1]		1
Net actuarial loss	[1]	4	4
Net periodic benefit cost	[2]	$ 3	$ 6
[1]	These net periodic benefit costs were reclassified out of other comprehensive earnings.
[2]	The service cost component of net periodic benefit cost is included in G&A expense and the remaining components of net periodic benefit costs are included in Other expenses in the accompanying consolidated comprehensive statements of earnings.

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017	Apr. 01, 2018
Stockholders Equity [Abstract]
Common shares repurchased value	$ 71
Common stock dividends paid, Amount	$ 32	$ 32
Common stock dividends, rate per share	$ 0.06	$ 0.06
Subsequent Event [Member]
Stockholders Equity [Abstract]
Percentage of increase to quarterly dividend beginning in second quarter			33.00%
Share Repurchase Program [Member]
Stockholders Equity [Abstract]
Share-repurchase program expiration date	Mar. 7, 2019
Common shares repurchased	2.6
Common shares repurchased value	$ 83
Common shares repurchased, rate per share	$ 32.19
Share Repurchase Program [Member] | Maximum [Member]
Stockholders Equity [Abstract]
Share-repurchase program, authorized amount	$ 1,000

Noncontrolling Interests (Narra

Noncontrolling Interests (Narrative) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2018	Mar. 31, 2017
Noncontrolling Interest [Line Items]
Net proceeds of common units sold	$ 1	$ 55
Distributions to unitholders other than Devon	$ 102	$ 81
EnLink [Member]
Noncontrolling Interest [Line Items]
Ownership interest by Devon	23.00%
EnLink [Member] | Equity Distribution Agreements [Member]
Noncontrolling Interest [Line Items]
Number of units sold to public for interests in EnLink		3
Net proceeds of common units sold		$ 55
General Partner [Member]
Noncontrolling Interest [Line Items]
Ownership interest by Devon	64.00%
General Partner And EnLink [Member]
Noncontrolling Interest [Line Items]
Distributions to unitholders other than Devon	$ 102	$ 81

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule Of Carrying Value And Fair Value Measurement Information For Financial Assets And Liabilities) (Details) - USD ($) $ in Millions	Mar. 31, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	$ 216	$ 212
Derivatives, liabilities	(377)	(358)
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	335	1,533
Debt	(9,982)	(10,406)
Installment payment		(250)
Capital lease obligations	(4)	(4)
Carrying Amount [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	215	211
Derivatives, liabilities	(355)	(294)
Carrying Amount [Member] | Interest Rate Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	1	1
Derivatives, liabilities	(22)	(64)
Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	335	1,533
Debt	(10,719)	(11,782)
Installment payment		(250)
Capital lease obligations	(3)	(3)
Total Fair Value [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	215	211
Derivatives, liabilities	(355)	(294)
Total Fair Value [Member] | Interest Rate Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	1	1
Derivatives, liabilities	(22)	(64)
Level 1 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	259	1,454
Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	76	79
Debt	(10,719)	(11,782)
Installment payment		(250)
Capital lease obligations	(3)	(3)
Level 2 Inputs [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	215	211
Derivatives, liabilities	(355)	(294)
Level 2 Inputs [Member] | Interest Rate Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	1	1
Derivatives, liabilities	$ (22)	$ (64)

Segment Information (Condensed

Segment Information (Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)segment		Mar. 31, 2017USD ($)	Dec. 31, 2017USD ($)
Segment Reporting Information [Line Items]
Revenues from external customers	$ 3,810		$ 3,551
Depreciation, depletion and amortization	537		528
Interest expense	439		130
Asset impairments			7
Asset dispositions	(12)		(3)
Earnings (loss) before income taxes	(181)		325
Income tax expense (benefit)	(28)		8
Net earnings (loss)	(153)		317
Net earnings attributable to noncontrolling interests	44		14
Net earnings (loss) attributable to Devon	(197)		303
Property and equipment, net	21,383		20,504	$ 21,171
Total assets	29,316		28,635	$ 30,241
Capital expenditures, including acquisitions	882		676
Eliminations [Member]
Segment Reporting Information [Line Items]
Interest expense	(16)		(15)
Total assets	(47)		(55)
Eliminations [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	$ (149)		(171)
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	$ 1,879		2,081
Depreciation, depletion and amortization	305		302
Interest expense	247		80
Asset dispositions	(12)		(7)
Earnings (loss) before income taxes	(100)		325
Income tax expense (benefit)	1		3
Net earnings (loss)	(101)		322
Net earnings (loss) attributable to Devon	(101)		322
Property and equipment, net	10,538		10,030
Total assets	13,477		13,644
Capital expenditures, including acquisitions	612		346
Canada [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	319		319
Depreciation, depletion and amortization	94		98
Interest expense	164		20
Asset dispositions			(1)
Earnings (loss) before income taxes	(145)		(12)
Income tax expense (benefit)	(35)		2
Net earnings (loss)	(110)		(14)
Net earnings (loss) attributable to Devon	(110)		(14)
Property and equipment, net	4,186		4,078
Total assets	5,271		4,869
Capital expenditures, including acquisitions	89		82
General Partner And EnLink [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	1,612	[1]	1,151
Depreciation, depletion and amortization	138		128
Interest expense	44		45
Asset impairments			7
Asset dispositions			5
Earnings (loss) before income taxes	64		12
Income tax expense (benefit)	6		3
Net earnings (loss)	58		9
Net earnings attributable to noncontrolling interests	44		14
Net earnings (loss) attributable to Devon	14		(5)
Property and equipment, net	6,659		6,396
Total assets	10,615		10,177
Capital expenditures, including acquisitions	181		248
General Partner And EnLink [Member] | Operating Segments [Member] | Intersegment [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	$ 149		$ 171
[1]	Amounts presented net of eliminations