Devon Energy (DVN) 10-Q 1 May 19 2019 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Millions	3 Months Ended
	Mar. 31, 2019	Apr. 17, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Amendment Flag	false
Trading Symbol	DVN
Entity Registrant Name	DEVON ENERGY CORP/DE
Entity Central Index Key	0001090012
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Document Fiscal Period Focus	Q1
Entity Common Stock, Shares Outstanding		415.2

Consolidated Comprehensive Stat

Consolidated Comprehensive Statements Of Earnings - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Upstream revenues	$ 710	$ 1,319
Revenues	$ 791	$ 879
Type of Revenue [Extensible List]	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember
Total revenues	$ 1,501	$ 2,198
Production expenses	506	543
Exploration expenses	13	33
Expenses	$ 759	$ 873
Type of Cost, Good or Service [Extensible List]	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember
Depreciation, depletion and amortization	$ 459	$ 399
Asset dispositions	(44)	(12)
General and administrative expenses	153	199
Financing costs, net	73	387
Restructuring and transaction costs	54
Other expenses	(45)	21
Total expenses	1,928	2,443
Loss from continuing operations before income taxes	(427)	(245)
Income tax benefit	(110)	(34)
Net loss from continuing operations	(317)	(211)
Net earnings from discontinued operations, net of income tax expense		58
Net loss	(317)	(153)
Net earnings attributable to noncontrolling interests		44
Net loss attributable to Devon	$ (317)	$ (197)
Basic net loss per share:
Basic loss from continuing operations per share	$ (0.74)	$ (0.41)
Basic earnings from discontinued operations per share		0.03
Basic net loss per share	(0.74)	(0.38)
Diluted net loss per share:
Diluted loss from continuing operations per share	(0.74)	(0.41)
Diluted earnings from discontinued operations per share		0.03
Diluted net loss per share	$ (0.74)	$ (0.38)
Comprehensive loss:
Net loss	$ (317)	$ (153)
Other comprehensive earnings (loss), net of tax:
Foreign currency translation	35	(48)
Pension and postretirement plans	2	4
Other comprehensive earnings (loss), net of tax	37	(44)
Comprehensive loss	(280)	(197)
Comprehensive earnings attributable to noncontrolling interests		44
Comprehensive loss attributable to Devon	$ (280)	$ (241)

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities:
Net loss	$ (317)	$ (153)
Adjustments to reconcile net loss to net cash from operating activities:
Net earnings from discontinued operations, net of income tax expense		(58)
Depreciation, depletion and amortization	459	399
Leasehold impairments	1	8
Accretion on discounted liabilities	17	16
Total losses on commodity derivatives	709	41
Cash settlements on commodity derivatives	(43)	11
Gains on asset dispositions	(44)	(12)
Deferred income tax benefit	(107)	(38)
Share-based compensation	48	38
Early retirement of debt		312
Total (gains) losses on foreign exchange	(34)	50
Other	(10)	(29)
Changes in assets and liabilities, net	(302)	25
Net cash from operating activities - continuing operations	377	610
Cash flows from investing activities:
Capital expenditures	(548)	(651)
Acquisitions of property and equipment	(11)	(6)
Divestitures of property and equipment	311	47
Net cash from investing activities - continuing operations	(248)	(610)
Cash flows from financing activities:
Repayments of long-term debt principal	(162)	(807)
Early retirement of debt		(304)
Repurchases of common stock	(999)	(71)
Dividends paid on common stock	(34)	(32)
Shares exchanged for tax withholdings	(26)	(38)
Net cash from financing activities - continuing operations	(1,221)	(1,252)
Effect of exchange rate changes on cash - continuing operations	1	(15)
Net change in cash, cash equivalents and restricted cash of continuing operations	(1,091)	(1,267)
Cash flows from discontinued operations:
Operating activities	0	194
Investing activities	0	(180)
Financing activities	0	39
Net change in cash, cash equivalents and restricted cash of discontinued operations		53
Net change in cash, cash equivalents and restricted cash	(1,091)	(1,214)
Cash, cash equivalents and restricted cash at beginning of period	2,446	2,684
Cash, cash equivalents and restricted cash at end of period	1,355	1,470
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	1,327	1,407
Restricted cash included in other current assets	28	46
Cash and cash equivalents included in current assets held for sale		17
Cash, cash equivalents and restricted cash at end of period	$ 1,355	$ 1,470

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 1,327	$ 2,414
Accounts receivable	1,038	885
Current assets held for sale		197
Other current assets	338	941
Total current assets	2,703	4,437
Oil and gas property and equipment, based on successful efforts accounting, net	12,766	12,813
Other property and equipment, net	1,098	1,122
Total property and equipment, net	13,864	13,935
Goodwill	841	841
Right-of-use assets	365
Other long-term assets	304	353
Total assets	18,077	19,566
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable	603	662
Revenues and royalties payable	850	898
Short-term debt		162
Current liabilities held for sale		69
Other current liabilities	515	435
Total current liabilities	1,968	2,226
Long-term debt	5,786	5,785
Lease liabilities	298
Asset retirement obligations	938	1,030
Other long-term liabilities	458	462
Deferred income taxes	772	877
Stockholders' equity:
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 417 million and 450 million shares in 2019 and 2018, respectively	42	45
Additional paid-in capital	3,518	4,486
Retained earnings	3,280	3,650
Accumulated other comprehensive earnings	1,064	1,027
Treasury stock, at cost, 1.5 million and 1.0 million shares in 2019 and 2018, respectively	(47)	(22)
Total stockholders’ equity	7,857	9,186
Total liabilities and stockholders' equity	$ 18,077	$ 19,566

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
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)	417,000,000	450,000,000
Treasury stock, shares	1,500,000	1,000,000

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 [Member]	Accumulated Other Comprehensive Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]
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
Effect of adoption of lease accounting	(19)			(19)
Balance at Dec. 31, 2018	9,186	$ 45	4,486	3,650	1,027	(22)
Balance, shares at Dec. 31, 2018		450
Net earnings (loss)	(317)			(317)
Other comprehensive earnings (loss), net of tax	37				37
Restricted stock grants, net of cancellations, shares		3
Common stock repurchased	(1,042)					(1,042)
Common stock retired		$ (3)	(1,014)			1,017
Common stock retired, shares		(36)
Common stock dividends	(34)			(34)
Share-based compensation	46		46
Balance at Mar. 31, 2019	$ 7,857	$ 42	$ 3,518	$ 3,280	$ 1,064	$ (47)
Balance, shares at Mar. 31, 2019		417

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	1. Summary of Significant Accounting Policies The accompanying unaudited interim financial statements and notes of Devon have been prepared pursuant to the rules and regulations of the SEC. Pursuant to such rules and regulations, certain disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted. The accompanying unaudited interim financial statements and notes should be read in conjunction with the financial statements and notes included in Devon’s 2018 Annual Report on Form 10-K The accompanying unaudited interim financial statements 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, 2019 and 2018 and Devon’s financial position as of March 31, 2019. As further discussed in Note 19 Recently Adopted Accounting Standards In January 2019, Devon adopted ASU 2016-02, Leases (Topic 842) Note 15 The SEC released Final Rule No. 33 -10532, Disclosure Update and Simplification Issued Accounting Standards Not Yet Adopted The FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement The FASB issued ASU 2018-15, Intangibles, Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract The SEC released Final Rule Release No. 33-10618 , FAST Act Modernization and Simplification of Regulation S-K

Divestitures

Divestitures	3 Months Ended
	Mar. 31, 2019
Business Combinations [Abstract]
Divestitures	2. Dive 2019 Asset Divestitures In the first quarter of 2019, Devon received proceeds of approximately $300 million and recognized a net gain on asset dispositions of approximately $44 million, primarily from sales of non-core assets in the Permian Basin. In aggregate, the total estimated proved reserves associated with these divested assets were approximately 25 MMBoe, or less than 2% of total U.S. proved reserves. As of December 31, 2018, assets and liabilities associated with these divested assets were classified as held for sale in the accompanying consolidated balance sheet. In February 2019, Devon announced its intent to separate its Canadian business and Barnett Shale assets from the Company, based on authorizations provided by its Board of Directors. Devon is evaluating multiple methods of separation for these assets, including potential sales or spin-offs. As of March 31, 2019, Devon does not currently have any indications that it would recognize an impairment upon separating its Canadian business or its Barnett Shale assets. Devon anticipates reporting all financial information for its Canadian business and Barnett Shale assets as discontinued operations in 2019 when all the requisite criteria are met for such financial statement presentation.

Derivative Financial Instrument

Derivative Financial Instruments	3 Months Ended
	Mar. 31, 2019
Derivative Instruments And Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments	3. Derivative Fin 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 periodically enters into derivative financial instruments with respect to a portion of its 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, 2019, Devon did not have any open interest rate swap or 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, 2019, Devon had the following open oil derivative positions. The first two tables present Devon’s oil derivatives that settle against the average of the prompt month NYMEX WTI futures price. The third 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 2019 46,891 $ 59.97 87,484 $ 54.60 $ 64.62 Q1-Q4 2020 3,238 $ 60.13 17,186 $ 51.97 $ 62.12 Three-Way Price Collars Period Volume (Bbls/d) Weighted Average Floor Sold Price ($/Bbl) Weighted Average Floor Purchased Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Q2-Q4 2019 5,000 $ 50.00 $ 63.00 $ 74.80 Oil Basis Swaps Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Q2-Q4 2019 Midland Sweet 24,945 $ (0.46 ) Q2-Q4 2019 Argus LLS 8,900 $ 5.10 Q2-Q4 2019 Argus MEH 20,945 $ 3.24 Q2-Q4 2019 NYMEX Roll 38,000 $ 0.45 Q2-Q4 2019 Western Canadian Select 62,762 $ (19.21 ) Q1-Q4 2020 NYMEX Roll 38,000 $ 0.31 Q1-Q4 2020 Western Canadian Select 4,577 $ (20.80 ) As of March 31, 2019, Devon had the following open natural gas derivative positions. The first table presents Devon’s natural gas derivatives that settle against the Inside FERC first of the month Henry Hub index. The second table presents Devon’s natural gas derivatives that settle against the respective indices noted within the table. Price Swaps Price Collars Period Volume (MMBtu/d) Weighted Average Price ($/MMBtu) Volume (MMBtu/d) Weighted Average Floor Price ($/MMBtu) Weighted Average Ceiling Price ($/MMBtu) Q2-Q4 2019 262,525 $ 2.81 213,884 $ 2.64 $ 3.02 Q1-Q4 2020 51,409 $ 2.86 40,071 $ 2.73 $ 3.03 Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q2-Q4 2019 Panhandle Eastern Pipe Line 63,018 $ (0.71 ) Q2-Q4 2019 El Paso Natural Gas 130,000 $ (1.46 ) Q2-Q4 2019 Houston Ship Channel 162,500 $ 0.01 Q1-Q4 2020 Panhandle Eastern Pipe Line 30,000 $ (0.47 ) Q1-Q4 2020 El Paso Natural Gas 40,000 $ (0.67 ) Q1-Q4 2020 Houston Ship Channel 10,000 $ 0.02 As of March 31, 2019, 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 2019 Ethane 1,000 $ 11.55 Q2-Q4 2019 Natural Gasoline 4,500 $ 55.93 Q2-Q4 2019 Normal Butane 4,000 $ 33.69 Q2-Q4 2019 Propane 8,500 $ 30.01 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, 2019 2018 Commodity derivatives: Upstream revenues $ (709 ) $ (41 ) Marketing revenues 1 — Interest rate derivatives: Other expenses — 46 Net gains (losses) recognized $ (708 ) $ 5 The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. March 31, 2019 December 31, 2018 Commodity derivative assets: Other current assets $ 30 $ 637 Other long-term assets 6 40 Total derivative assets $ 36 $ 677 Commodity derivative liabilities: Other current liabilities $ 91 $ 67 Other long-term liabilities 6 1 Total derivative liabilities $ 97 $ 68

Share-Based Compensation

Share-Based Compensation	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Share-Based Compensation	4. Share-Base The table below presents the share-based compensation expense included in Devon’s accompanying consolidated comprehensive statements of earnings. The vesting for certain share-based awards was accelerated in conjunction with the reduction of workforce described in Note 5 and is included in restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings. Three Months Ended March 31, 2019 2018 G&A $ 26 $ 37 Exploration expenses 1 2 Restructuring and transaction costs 22 — Total $ 49 $ 39 Related income tax benefit $ 10 $ 1 Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first three months of 2019. 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 12/31/18 5,963 $ 35.47 302 $ 35.93 2,868 $ 30.14 Granted 4,271 $ 25.47 — $ — 741 $ 28.97 Vested (2,505 ) $ 35.05 (137 ) $ 37.44 — $ — Forfeited (442 ) $ 26.83 — $ — (1,267 ) $ 11.15 Unvested at 3/31/19 7,287 $ 30.27 165 $ 34.67 2,342 (1 ) $ 40.05 (1) A maximum of 4.7 million common shares could be awarded based upon Devon’s final TSR ranking. The following table presents the assumptions related to the performance share units granted in 2019, as indicated in the previous summary table. 2019 Grant-date fair value $ 28.43 — $ 29.53 Risk-free interest rate 2.48% Volatility factor 39.1% 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, 2019. Performance-Based Restricted Stock Restricted Stock Performance Awards and Units Awards Share Units Unrecognized compensation cost $ 162 $ — $ 33 Weighted average period for recognition (years) 2.8 2.2 1.9

Restructuring and Transaction C

Restructuring and Transaction Costs	3 Months Ended
	Mar. 31, 2019
Restructuring And Related Activities [Abstract]
Restructuring and Transaction Costs	5. Restructuring and Workforce Reductions During the first quarter of 2019, Devon announced workforce reductions and other initiatives designed to enhance its operational focus and cost structure in conjunction with the portfolio transformation announcement further discussed in Note 2. The following table summarizes Devon’s restructuring liabilities. Other Other Current Long-term Liabilities Liabilities Total Balance as of December 31, 2018 $ 47 $ 16 $ 63 Changes related to 2019 workforce reductions 30 — 30 Changes related to prior years' restructurings (18 ) (3 ) (21 ) Balance as of March 31, 2019 $ 59 $ 13 $ 72 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

Other Expenses

Other Expenses	3 Months Ended
	Mar. 31, 2019
Other Income And Expenses [Abstract]
Other Expenses	6 . Other Expenses The following table summarizes Devon’s other expenses presented in the accompanying consolidated comprehensive statements of earnings. Three Months Ended March 31, 2019 2018 Foreign exchange (gain) loss, net $ (34 ) $ 50 Asset retirement obligation accretion 14 16 Other, net (25 ) (45 ) Total $ (45 ) $ 21 Foreign exchange (gain) loss, net The U.S. dollar is the functional currency for Devon’s consolidated operations except its Canadian subsidiaries, which use the Canadian dollar as the functional currency. The amounts in the table above include both unrealized and realized foreign exchange impacts of foreign currency denominated monetary assets and liabilities, including intercompany loans between subsidiaries with different functional currencies. Unrealized gains and losses arise from the remeasurement of these foreign currency denominated monetary assets and liabilities and intercompany loans. Realized gains and losses arise when there are settlements of these foreign currency denominated monetary assets and liabilities and intercompany loans.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	7 . 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, 2019 2018 Current income tax expense (benefit) $ (3 ) $ 4 Deferred income tax benefit (107 ) (38 ) Total income tax benefit $ (110 ) $ (34 ) U.S. statutory income tax rate 21 % 21 % State income taxes 7 % 1 % Other (2 %) (8 %) Effective income tax rate 26 % 14 % Devon estimates its annual effective income tax rate to record 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. 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 had a more noticeable impact to the rate in the first three months of 2018 due to the low relative net loss during the period. In the first quarter of 2019, the deferred tax asset representing Devon’s U.S. state net operating loss subject to a valuation allowance decreased by $13 million. The corresponding decrease in the valuation allowance against the state net operating loss resulted in a deferred tax benefit, which is included within state income taxes in the table above. As of the first quarter of 2018, Devon’s U.S. segment maintained a 100% valuation allowance against its U.S. deferred tax assets resulting from prior year cumulative financial losses, oil and gas impairments, and significant net operating losses for U.S. federal and state income tax. However, upon closing the EnLink divestiture in the third quarter of 2018, Devon reassessed its position and determined that its U.S. segment was no longer in a full valuation allowance position, maintaining only valuation allowances against certain deferred tax assets, including certain tax credits and state net operating losses. Devon’s Canadian segment maintains a valuation allowance against certain capital loss carryforwards. During the first quarter of 2019, Devon announced its intent to separate all Canadian assets. As a result, Devon’s foreign earnings were no longer considered indefinitely reinvested as of March 31, 2019. However, the deferred tax asset of its Canadian investment will not be recorded until the form of the separation is certain.

Net Loss Per Share from Continu

Net Loss Per Share from Continuing Operations	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Loss Per Share from Continuing Operations	8 . Net Loss Per Share from Continuing Operations The following table reconciles net loss from continuing operations and weighted-average common shares outstanding used in the calculations of basic and diluted net loss per share from continuing operations. Three Months Ended March 31, 2019 2018 Net loss from continuing operations: Net loss from continuing operations $ (317 ) $ (211 ) Attributable to participating securities — — Basic and diluted loss from continuing operations $ (317 ) $ (211 ) Common shares: Common shares outstanding - total 434 527 Attributable to participating securities (6 ) (7 ) Common shares outstanding - basic and diluted 428 520 Net loss per share from continuing operations: Basic $ (0.74 ) $ (0.41 ) Diluted $ (0.74 ) $ (0.41 ) Antidilutive options (1) 1 2 (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, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Other Comprehensive Earnings	9 . Other Comprehensive Earnings Components of other comprehensive earnings consist of the following: Three Months Ended March 31, 2019 2018 Foreign currency translation: Beginning accumulated foreign currency translation and other $ 1,159 $ 1,309 Change in cumulative translation adjustment 35 (61 ) Income tax benefit — 13 Ending accumulated foreign currency translation 1,194 1,261 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (132 ) (143 ) Recognition of net actuarial loss and prior service cost in earnings (1) 3 4 Income tax expense (1 ) — Ending accumulated pension and postretirement benefits (130 ) (139 ) Accumulated other comprehensive earnings, net of tax $ 1,064 $ 1,122 (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 17 for additional details.

Supplemental Information To Sta

Supplemental Information To Statements Of Cash Flows	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Supplemental Information To Statements Of Cash Flows	1 0 . Supplemental Information to Statements of Cash Flows Three Months Ended March 31, 2019 2018 Changes in assets and liabilities, net Accounts receivable $ (152 ) $ 37 Other current assets (7 ) (88 ) Other long-term assets (19 ) (53 ) Accounts payable (37 ) 4 Revenues and royalties payable (49 ) 66 Other current liabilities (30 ) 64 Other long-term liabilities (8 ) (5 ) Total $ (302 ) $ 25 Supplementary cash flow data - total operations: Interest paid (net of capitalized interest) $ 53 $ 76 Income taxes paid $ 6 $ 1

Accounts Receivable

Accounts Receivable	3 Months Ended
	Mar. 31, 2019
Accounts Receivable Net [Abstract]
Accounts Receivable	1 1 . Accounts Receivable Components of accounts receivable include the following: March 31, 2019 December 31, 2018 Oil, gas and NGL sales $ 608 $ 430 Joint interest billings 155 155 Marketing revenues 269 285 Other 14 23 Gross accounts receivable 1,046 893 Allowance for doubtful accounts (8 ) (8 ) Net accounts receivable $ 1,038 $ 885

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2019
Extractive Industries [Abstract]
Property, Plant and Equipment	12. Property, Plan The following table presents the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities. March 31, 2019 December 31, 2018 Property and equipment: Proved $ 47,325 $ 46,805 Unproved and properties under development 2,215 2,267 Total oil and gas 49,540 49,072 Less accumulated DD&A (36,774 ) (36,259 ) Oil and gas property and equipment, net 12,766 12,813 Other property and equipment 1,819 1,832 Less accumulated DD&A (721 ) (710 ) Other property and equipment, net 1,098 1,122 Property and equipment, net $ 13,864 $ 13,935

Other Current Liabilities

Other Current Liabilities	3 Months Ended
	Mar. 31, 2019
Other Liabilities Disclosure [Abstract]
Other Current Liabilities	13. Components of other current liabilities include the following: March 31, 2019 December 31, 2018 Derivative liabilities $ 91 $ 67 Accrued interest payable 106 80 Lease liabilities 67 — Restructuring liabilities 59 47 Other 192 241 Other current liabilities $ 515 $ 435

Debt And Related Expenses

Debt And Related Expenses	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Debt and Related Expenses	1 4 . Debt and Related Expenses A summary of debt is as follows: March 31, 2019 December 31, 2018 6.30% $ — $ 162 4.00% 500 500 3.25% 1,000 1,000 5.85% 485 485 7.50% 73 73 7.875% (1) 675 675 7.95% (1) 366 366 5.60% 1,250 1,250 4.75% 750 750 5.00% 750 750 Net discount on debentures and notes (24 ) (24 ) Debt issuance costs (39 ) (40 ) Total debt 5,786 5,947 Less amount classified as short-term debt — 162 Total long-term debt $ 5,786 $ 5,785 (1) These senior notes were included in the 2018 tender offer repurchases discussed below Credit Lines Devon has a $3.0 billion Senior Credit Facility. As of March 31, 2019, Devon had no outstanding borrowings under the Senior Credit Facility and had issued $52 million in outstanding letters of credit under this facility. The Senior Credit Facility contains only one material financial covenant. This covenant requires Devon’s ratio of total funded debt to total capitalization, as defined in the credit agreement, to be no greater than 65%. Under the terms of the credit agreement, total capitalization is adjusted to add back noncash financial write-downs such as impairments. As of March 31, 2019, Devon was in compliance with this covenant with a debt-to-capitalization ratio of 21.6%. Retirement of Senior Notes In January 2019, Devon repaid the $162 million of 6.30% senior notes at maturity. 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. Net Financing Costs The following schedule includes the components of net financing costs. Three Months Ended March 31, 2019 2018 Interest based on debt outstanding $ 78 $ 96 Early retirement of debt — 312 Capitalized interest — (18 ) Other (5 ) (3 ) Total net financing costs $ 73 $ 387

Leases

Leases	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Leases	15. Le Devon adopted ASU No. 2016-02, Leases (Topic 842) Devon made certain significant assumptions and judgments in determining its right-of-use asset and lease liability balances. First is the determination of whether a contract contains a lease. Devon considered the presence of an identified asset that is physically distinct, and for which the supplier does not have substantive substitution rights and whether Devon has the right to control the underlying asset. Second, Devon assessed lease terms and considered whether Devon is reasonably certain to extend leases or exercise purchase options. Certain of Devon’s leases include one or more options to renew, with renewal terms that can extend the lease term for additional years. Certain leases also include options to purchase the leased property. For options to renew or purchase that Devon is reasonably certain to exercise, these costs are recognized as part of the right-of-use assets and lease liabilities. Third, significant judgments have been made in determining discount rates. Devon estimates discount rates using market rates that approximate collateralized borrowings over the remaining term of Devon’s lease payments. Devon’s right-of-use operating lease assets are for certain leases related to real estate, drilling rigs and other equipment related to the exploration, development and production of oil and gas. Devon’s right-of-use financing lease assets are related to real estate. Certain of Devon’s lease agreements include variable payments based on usage or rental payments adjusted periodically for inflation. Devon’s lease agreements do not contain any material residual value guarantees or restrictive covenants. The following table presents Devon’s right-of-use assets and lease liabilities as of March 31, 2019. Finance Operating Total Right-of-use assets $ 215 $ 150 $ 365 Lease liabilities: Current lease liabilities (1) $ 7 $ 60 $ 67 Long-term lease liabilities 238 60 298 Total lease liabilities $ 245 $ 120 $ 365 (1) Current lease liabilities are included in other current liabilities on the consolidated balance sheets. The following table presents Devon’s total lease cost. Three Months Ended March 31, 2019 Operating lease cost (1)(2 ) $ 15 Short-term lease cost (1)(3 ) 26 Financing lease cost: Amortization of right-of-use assets (4 ) 6 Interest on lease liabilities ( 5 ) 3 Variable lease cost (1) 1 Lease income (1) (1 ) Net lease cost $ 50 (1) Included as a component of general and administrative expense in the accompanying consolidated comprehensive statements of earnings. (2) Includes certain amounts capitalized to oil and gas property and equipment in the accompanying consolidated balance sheets. (3) Short-term lease cost excludes leases with terms of one month or less. (4) Included as a component of depreciation, depletion and amortization in the accompanying consolidated comprehensive statements of earnings. (5) Included as a component of net financing costs in the accompanying consolidated comprehensive statements of earnings. The following table presents Devon’s additional lease information for the three months ended March 31, 2019. Finance Operating Cash outflows for lease liabilities: Operating cash flows $ 2 $ 3 Investing cash flows $ — $ 15 Weighted average remaining lease term (years) 8.8 2.6 Weighted average discount rate 4.2 % 3.4 % The following table presents Devon’s maturity analysis as of March 31, 2019 for leases expiring in each of the next 5 years and thereafter. Finance Operating Total (1) 2019 $ 5 $ 48 $ 53 2020 7 47 54 2021 7 16 23 2022 8 7 15 2023 8 7 15 Thereafter 306 1 307 Total lease payments 341 126 467 Less: interest (96 ) (6 ) (102 ) Present value of lease liabilities $ 245 $ 120 $ 365 (1) Under previous lease accounting standard, ASC 840, Devon’s lease obligations as of December 31, 2018 expiring in each of the next 5 years and thereafter were $72 million for 2019, $54 million for 2020, $24 million for 2021, $15 million for 2022, $15 million for 2023 and $33 million thereafter. Devon rents or subleases certain real estate to third parties. The following ta ble presents Devon’s expected lease income as of March 31, 2019 for each of the next 5 years and thereafter. Operating Lease Income (1) 2019 $ 4 2020 6 2021 7 2022 7 2023 7 Thereafter 53 Total $ 84 (1) Included in operating lease income is approximately $30 million related to leases which have been executed but not yet commenced.

Asset Retirement Obligations

Asset Retirement Obligations	3 Months Ended
	Mar. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	1 6 . Asset Retirement Obligations The following table presents the changes in Devon’s asset retirement obligations. Three Months Ended March 31, 2019 2018 Asset retirement obligations as of beginning of period $ 1,057 $ 1,138 Liabilities incurred 7 15 Liabilities settled and divested (37 ) (20 ) Revision of estimated obligation (87 ) 23 Accretion expense on discounted obligation 14 16 Foreign currency translation adjustment 9 (13 ) Asset retirement obligations as of end of period 963 1,159 Less current portion 25 32 Asset retirement obligations, long-term $ 938 $ 1,127 During the first three months of 2019, Devon reduced its asset retirement obligations by $87 million, primarily due to changes in the future cost estimates and retirement dates for its oil and gas assets

Retirement Plans

Retirement Plans	3 Months Ended
	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	1 7 . Retirement Plans The following table presents the components of net periodic benefit cost for Devon’s pension benefits plan. There were no net periodic benefit costs for postretirement benefit plans for all periods presented below. Pension Benefits Three Months Ended March 31, 2019 2018 Service cost $ 2 $ 3 Interest cost 9 10 Expected return on plan assets (10 ) (14 ) Net actuarial loss (1) 3 4 Net periodic benefit cost (2) $ 4 $ 3 (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, 2019
Stockholders Equity Note [Abstract]
Stockholders' Equity	18 . Stockhol ders’ Equity Share Repurchase Program In March 2018, Devon announced a share repurchase program to buy up to $1.0 billion of shares of common stock. In June 2018, in conjunction with the announced divestiture of its investment in EnLink and the General Partner, Devon increased its program by an additional $3.0 billion. In February 2019, Devon’s Board of Directors authorized an expansion of the share repurchase program by an additional $1.0 billion, bringing the total to $5.0 billion. The share repurchase program expires December 31, 2019. The table below provides information regarding purchases of Devon’s common stock that were made during 2018 and the first three months of 2019 (shares in thousands). Total Number of Shares Purchased Dollar Value of Shares Purchased Average Price Paid per Share First quarter 2018: Open-Market 2,561 $ 82 $ 32.19 Second quarter 2018: Open-Market 11,154 439 39.35 Third quarter 2018: Open-Market 16,492 712 43.13 ASR 24,330 1,000 41.10 Total 40,822 1,712 41.92 Fourth quarter 2018: Open-Market 23,612 745 31.57 First quarter 2019: Open-Market 36,141 1,024 28.33 Total inception-to-date 114,290 $ 4,002 $ 35.01 Dividends Devon paid common stock dividends of $34 million ($0.08 per share) and $32 million ($0.06 per share) during the first three months of 2019 and 2018, respectively. In February 2019, Devon announced a 12.5% increase to its quarterly dividend, to $0.09 per share, beginning in the second quarter of 2019. In the second quarter of 2018, Devon increased the quarterly dividend rate from $0.06 to $0.08 per share.

Discontinued Operations and Ass

Discontinued Operations and Assets Held for Sale	3 Months Ended
	Mar. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations and Assets Held for Sale	19 . Discontinued Operations and Assets Held For Sale On June 6, 2018, Devon announced that it had entered into an agreement to sell its aggregate ownership interests in EnLink and the General Partner for $3.125 billion. Upon entering into the agreement to sell its ownership interest in June 2018, Devon concluded that the transaction was a strategic shift and met the requirements of assets held for sale and discontinued operations. As a result, Devon classified the results of operations and cash flows related to EnLink and the General Partner as discontinued operations on its consolidated financial statements. On July 18, 2018, Devon completed the sale of its aggregate ownership interests in EnLink and the General Partner for $3.125 billion and recognized a gain of approximately $2.6 billion ($2.2 billion after-tax). Current (cash) income tax associated with the transaction was approximately $12 million. The vast majority of the tax effect relates to deferred tax expense offset by the valuation allowance adjustment. As part of the sale agreement, Devon extended its fixed-fee gathering and processing contracts with respect to the Bridgeport and Cana plants with EnLink through 2029. Although the agreements were extended to 2029, the minimum volume commitments for the Bridgeport and Cana plants expired at the end of 2018. Devon has minimum volume commitments for gathering and processing of 77-128 MMcf/d with EnLink at the Chisholm plant through early 2021. During the first quarter of 2019, Devon had net outflows of approximately $150 million with EnLink, which primarily related to gathering and processing expenses. These net outflows represent gross cash amounts and not net working interest amounts. Prior to the divestment of Devon’s aggregate ownership of EnLink and the General Partner, certain activity between Devon and EnLink were eliminated in consolidation. Subsequent to the divestment, all activity related to EnLink represent third-party transactions and are no longer eliminated in consolidation. The following table presents the amounts reported in the consolidated comprehensive statements of earnings as discontinued operations. Three Months Ended March 31, 2018 Marketing and midstream revenues $ 1,612 Marketing and midstream expenses 1,341 Depreciation, depletion and amortization 138 General and administrative expenses 27 Financing costs, net 44 Other expenses (2 ) Total expenses 1,548 Earnings from discontinued operations before income taxes 64 Income tax expense 6 Net earnings from discontinued operations, net of income tax expense 58 Net earnings attributable to noncontrolling interests 44 Net earnings from discontinued operations attributable to Devon $ 14 The following table presents the carrying amounts of the assets and liabilities classified as held for sale on the consolidated balance sheets. The assets and liabilities classified as held for sale at December 31, 2018 are related to the divestiture of non-core upstream Permian Basin assets which closed in January 2019 as further discussed in Note 2 December 31, 2018 Accounts receivable $ 7 Oil and gas property and equipment, based on successful efforts accounting, net 190 Total assets held for sale $ 197 Accounts payable $ 3 Other current liabilities 19 Asset retirement obligations 47 Total liabilities held for sale $ 69

Commitments And Contingencies

Commitments And Contingencies	3 Months Ended
	Mar. 31, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	2 0 . 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 likely 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 laws and regulations relating to environmental remediation activities associated with past operations, such as the Comprehensive Environmental Response, Compensation, and Liability Act and similar state statutes. In response to liabilities associated with these activities, loss accruals primarily consist of estimated uninsured remediation costs. Devon’s monetary exposure for environmental matters is not expected to be material. Beginning in 2013, various parishes in Louisiana filed suit against more than 100 oil and gas companies, including Devon, alleging that the companies’ operations and activities in certain fields violated the State and Local Coastal Resource Management Act of 1978, as amended, and caused substantial environmental contamination, subsidence and other environmental damages to land and water bodies located in the coastal zone of Louisiana. The plaintiffs seek, among other things, the payment of the costs necessary to clear, re-vegetate and otherwise restore the allegedly impacted areas. Although Devon cannot predict the ultimate outcome of these matters, Devon is vigorously defending against these claims. Other Matters Devon is involved in other various legal proceedings incidental to its business. However, to Devon’s knowledge, there were no 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, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	2 1 . Fair Value Measurements The following table provides carrying value and fair value measurement information for certain of Devon’s financial assets and liabilities. The carrying values of cash, accounts receivable, other current receivables, accounts payable, other current payables, accrued expenses and lease liabilities included in the accompanying consolidated balance sheets approximated fair value at March 31, 2019 and December 31, 2018, as applicable. Therefore, such financial assets and liabilities are not presented in the following table. Fair Value Measurements Using: Carrying Total Fair Level 1 Level 2 Amount Value Inputs Inputs March 31, 2019 assets (liabilities): Cash equivalents $ 432 $ 432 $ 432 $ — Commodity derivatives $ 36 $ 36 $ — $ 36 Commodity derivatives $ (97 ) $ (97 ) $ — $ (97 ) Debt $ (5,786 ) $ (6,448 ) $ — $ (6,448 ) December 31, 2018 assets (liabilities): Cash equivalents $ 1,505 $ 1,505 $ 1,405 $ 100 Commodity derivatives $ 677 $ 677 $ — $ 677 Commodity derivatives $ (68 ) $ (68 ) $ — $ (68 ) Debt $ (5,947 ) $ (5,965 ) $ — $ (5,965 ) 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 the fair value approximates the carrying value. Level 2 Fair Value Measurements Cash equivalents – Amounts primarily consist of Canadian agency and provincial securities investments. The fair value approximates the carrying value. Commodity and interest rate derivatives – The fair value of commodity derivatives is 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.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Segment Information	22. 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. The following table presents revenue from contracts with customers that are disaggregated based on the type of good. Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 U.S. Canada Total U.S. Canada Total Oil $ 661 $ 351 $ 1,012 $ 677 $ 230 $ 907 Gas 233 — 233 255 — 255 NGL 174 — 174 198 — 198 Oil, gas and NGL revenues from contracts with customers 1,068 351 1,419 1,130 230 1,360 Oil, gas and NGL derivatives (605 ) (104 ) (709 ) (113 ) 72 (41 ) Upstream revenues 463 247 710 1,017 302 1,319 Oil 356 26 382 531 17 548 Gas 218 — 218 155 — 155 NGL 191 — 191 176 — 176 Total marketing revenues from contracts with customers 765 26 791 862 17 879 Total revenues $ 1,228 $ 273 $ 1,501 $ 1,879 $ 319 $ 2,198 The following table presents selected financial information for Devon’s reporting segments. U.S. Canada Total Three Months Ended March 31, 2019: Depreciation, depletion and amortization $ 380 $ 79 $ 459 Interest expense $ 71 $ 15 $ 86 Asset dispositions $ (44 ) $ — $ (44 ) Restructuring and transaction costs $ 51 $ 3 $ 54 Earnings (loss) from continuing operations before income taxes $ (450 ) $ 23 $ (427 ) Income tax benefit $ (106 ) $ (4 ) $ (110 ) Net earnings (loss) from continuing operations $ (344 ) $ 27 $ (317 ) Property and equipment, net $ 9,926 $ 3,938 $ 13,864 Total assets $ 13,513 $ 4,564 $ 18,077 Capital expenditures, including acquisitions $ 481 $ 49 $ 530 Three Months Ended March 31, 2018: Depreciation, depletion and amortization $ 305 $ 94 $ 399 Interest expense $ 247 $ 148 $ 395 Asset dispositions $ (12 ) $ — $ (12 ) Loss from continuing operations before income taxes $ (116 ) $ (129 ) $ (245 ) Income tax expense (benefit) $ 1 $ (35 ) $ (34 ) Net loss from continuing operations $ (117 ) $ (94 ) $ (211 ) Property and equipment, net $ 10,538 $ 4,186 $ 14,724 Total assets (1) $ 13,477 $ 5,271 $ 18,748 Capital expenditures, including acquisitions $ 612 $ 89 $ 701 (1 ) Total assets in the table above do not include assets held for sale related to Devon’s discontinued operations, which totaled $10.6 billion on March 31, 2018. Additional information about Devon’s discontinued operations can be found in Note 19

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Recent Accounting Standards	Recently Adopted Accounting Standards In January 2019, Devon adopted ASU 2016-02, Leases (Topic 842) Note 15 The SEC released Final Rule No. 33 -10532, Disclosure Update and Simplification Issued Accounting Standards Not Yet Adopted The FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement The FASB issued ASU 2018-15, Intangibles, Goodwill and Other Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement that is a Service Contract The SEC released Final Rule Release No. 33-10618 , FAST Act Modernization and Simplification of Regulation S-K
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 likely involve future amounts that would be material to Devon’s financial position or results of operations after consideration of recorded accruals. Actual amounts could differ materially from management’s estimates .

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 2018 Commodity derivatives: Upstream revenues $ (709 ) $ (41 ) Marketing revenues 1 — Interest rate derivatives: Other expenses — 46 Net gains (losses) recognized $ (708 ) $ 5 The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. March 31, 2019 December 31, 2018 Commodity derivative assets: Other current assets $ 30 $ 637 Other long-term assets 6 40 Total derivative assets $ 36 $ 677 Commodity derivative liabilities: Other current liabilities $ 91 $ 67 Other long-term liabilities 6 1 Total derivative liabilities $ 97 $ 68
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 2019 46,891 $ 59.97 87,484 $ 54.60 $ 64.62 Q1-Q4 2020 3,238 $ 60.13 17,186 $ 51.97 $ 62.12 Three-Way Price Collars Period Volume (Bbls/d) Weighted Average Floor Sold Price ($/Bbl) Weighted Average Floor Purchased Price ($/Bbl) Weighted Average Ceiling Price ($/Bbl) Q2-Q4 2019 5,000 $ 50.00 $ 63.00 $ 74.80 Oil Basis Swaps Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Q2-Q4 2019 Midland Sweet 24,945 $ (0.46 ) Q2-Q4 2019 Argus LLS 8,900 $ 5.10 Q2-Q4 2019 Argus MEH 20,945 $ 3.24 Q2-Q4 2019 NYMEX Roll 38,000 $ 0.45 Q2-Q4 2019 Western Canadian Select 62,762 $ (19.21 ) Q1-Q4 2020 NYMEX Roll 38,000 $ 0.31 Q1-Q4 2020 Western Canadian Select 4,577 $ (20.80 )
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 2019 262,525 $ 2.81 213,884 $ 2.64 $ 3.02 Q1-Q4 2020 51,409 $ 2.86 40,071 $ 2.73 $ 3.03 Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q2-Q4 2019 Panhandle Eastern Pipe Line 63,018 $ (0.71 ) Q2-Q4 2019 El Paso Natural Gas 130,000 $ (1.46 ) Q2-Q4 2019 Houston Ship Channel 162,500 $ 0.01 Q1-Q4 2020 Panhandle Eastern Pipe Line 30,000 $ (0.47 ) Q1-Q4 2020 El Paso Natural Gas 40,000 $ (0.67 ) Q1-Q4 2020 Houston Ship Channel 10,000 $ 0.02
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 2019 Ethane 1,000 $ 11.55 Q2-Q4 2019 Natural Gasoline 4,500 $ 55.93 Q2-Q4 2019 Normal Butane 4,000 $ 33.69 Q2-Q4 2019 Propane 8,500 $ 30.01

Share-Based Compensation (Table

Share-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule Of Share-Based Compensation Expense Included In The Consolidated Comprehensive Statements Of Earnings	Three Months Ended March 31, 2019 2018 G&A $ 26 $ 37 Exploration expenses 1 2 Restructuring and transaction costs 22 — Total $ 49 $ 39 Related income tax benefit $ 10 $ 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 12/31/18 5,963 $ 35.47 302 $ 35.93 2,868 $ 30.14 Granted 4,271 $ 25.47 — $ — 741 $ 28.97 Vested (2,505 ) $ 35.05 (137 ) $ 37.44 — $ — Forfeited (442 ) $ 26.83 — $ — (1,267 ) $ 11.15 Unvested at 3/31/19 7,287 $ 30.27 165 $ 34.67 2,342 (1 ) $ 40.05 (1) A maximum of 4.7 million common shares could be awarded based upon Devon’s final TSR ranking.
Summary Of Performance Share Units Grant-Date Fair Values And Their Related Assumptions	2019 Grant-date fair value $ 28.43 — $ 29.53 Risk-free interest rate 2.48% Volatility factor 39.1% 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 $ 162 $ — $ 33 Weighted average period for recognition (years) 2.8 2.2 1.9

Restructuring and Transaction_2

Restructuring and Transaction Costs (Tables)	3 Months Ended
	Mar. 31, 2019
Restructuring And Related Activities [Abstract]
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, 2018 $ 47 $ 16 $ 63 Changes related to 2019 workforce reductions 30 — 30 Changes related to prior years' restructurings (18 ) (3 ) (21 ) Balance as of March 31, 2019 $ 59 $ 13 $ 72 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

Other Expenses (Tables)

Other Expenses (Tables)	3 Months Ended
	Mar. 31, 2019
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 statements of earnings. Three Months Ended March 31, 2019 2018 Foreign exchange (gain) loss, net $ (34 ) $ 50 Asset retirement obligation accretion 14 16 Other, net (25 ) (45 ) Total $ (45 ) $ 21

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Schedule Of Effective Income Tax Rate Reconciliation	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, 2019 2018 Current income tax expense (benefit) $ (3 ) $ 4 Deferred income tax benefit (107 ) (38 ) Total income tax benefit $ (110 ) $ (34 ) U.S. statutory income tax rate 21 % 21 % State income taxes 7 % 1 % Other (2 %) (8 %) Effective income tax rate 26 % 14 %

Net Loss Per Share from Conti_2

Net Loss Per Share from Continuing Operations (Tables)	3 Months Ended
	Mar. 31, 2019
Earnings Per Share [Abstract]
Net Loss Per Share Computations from Continuing Operations	Three Months Ended March 31, 2019 2018 Net loss from continuing operations: Net loss from continuing operations $ (317 ) $ (211 ) Attributable to participating securities — — Basic and diluted loss from continuing operations $ (317 ) $ (211 ) Common shares: Common shares outstanding - total 434 527 Attributable to participating securities (6 ) (7 ) Common shares outstanding - basic and diluted 428 520 Net loss per share from continuing operations: Basic $ (0.74 ) $ (0.41 ) Diluted $ (0.74 ) $ (0.41 ) Antidilutive options (1) 1 2 (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, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Components Of Other Comprehensive Earnings	Components of other comprehensive earnings consist of the following: Three Months Ended March 31, 2019 2018 Foreign currency translation: Beginning accumulated foreign currency translation and other $ 1,159 $ 1,309 Change in cumulative translation adjustment 35 (61 ) Income tax benefit — 13 Ending accumulated foreign currency translation 1,194 1,261 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (132 ) (143 ) Recognition of net actuarial loss and prior service cost in earnings (1) 3 4 Income tax expense (1 ) — Ending accumulated pension and postretirement benefits (130 ) (139 ) Accumulated other comprehensive earnings, net of tax $ 1,064 $ 1,122 (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 17 for additional details.

Supplemental Information To S_2

Supplemental Information To Statements Of Cash Flows (Tables)	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule Of Supplemental Information To Statements Of Cash Flows	Three Months Ended March 31, 2019 2018 Changes in assets and liabilities, net Accounts receivable $ (152 ) $ 37 Other current assets (7 ) (88 ) Other long-term assets (19 ) (53 ) Accounts payable (37 ) 4 Revenues and royalties payable (49 ) 66 Other current liabilities (30 ) 64 Other long-term liabilities (8 ) (5 ) Total $ (302 ) $ 25 Supplementary cash flow data - total operations: Interest paid (net of capitalized interest) $ 53 $ 76 Income taxes paid $ 6 $ 1

Accounts Receivable (Tables)

Accounts Receivable (Tables)	3 Months Ended
	Mar. 31, 2019
Accounts Receivable Net [Abstract]
Schedule Of Components Of Accounts Receivable	Components of accounts receivable include the following: March 31, 2019 December 31, 2018 Oil, gas and NGL sales $ 608 $ 430 Joint interest billings 155 155 Marketing revenues 269 285 Other 14 23 Gross accounts receivable 1,046 893 Allowance for doubtful accounts (8 ) (8 ) Net accounts receivable $ 1,038 $ 885

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 December 31, 2018 Property and equipment: Proved $ 47,325 $ 46,805 Unproved and properties under development 2,215 2,267 Total oil and gas 49,540 49,072 Less accumulated DD&A (36,774 ) (36,259 ) Oil and gas property and equipment, net 12,766 12,813 Other property and equipment 1,819 1,832 Less accumulated DD&A (721 ) (710 ) Other property and equipment, net 1,098 1,122 Property and equipment, net $ 13,864 $ 13,935

Other Current Liabilities (Tabl

Other Current Liabilities (Tables)	3 Months Ended
	Mar. 31, 2019
Other Liabilities Disclosure [Abstract]
Schedule Of Other Current Liabilities	Components of other current liabilities include the following: March 31, 2019 December 31, 2018 Derivative liabilities $ 91 $ 67 Accrued interest payable 106 80 Lease liabilities 67 — Restructuring liabilities 59 47 Other 192 241 Other current liabilities $ 515 $ 435

Debt And Related Expenses (Tabl

Debt And Related Expenses (Tables)	3 Months Ended
	Mar. 31, 2019
Debt Disclosure [Abstract]
Schedule Of Debt Instruments and Balances	A summary of debt is as follows: March 31, 2019 December 31, 2018 6.30% $ — $ 162 4.00% 500 500 3.25% 1,000 1,000 5.85% 485 485 7.50% 73 73 7.875% (1) 675 675 7.95% (1) 366 366 5.60% 1,250 1,250 4.75% 750 750 5.00% 750 750 Net discount on debentures and notes (24 ) (24 ) Debt issuance costs (39 ) (40 ) Total debt 5,786 5,947 Less amount classified as short-term debt — 162 Total long-term debt $ 5,786 $ 5,785 (1) These senior notes were included in the 2018 tender offer repurchases discussed below
Schedule Of Net Financing Cost Components	The following schedule includes the components of net financing costs. Three Months Ended March 31, 2019 2018 Interest based on debt outstanding $ 78 $ 96 Early retirement of debt — 312 Capitalized interest — (18 ) Other (5 ) (3 ) Total net financing costs $ 73 $ 387

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2019
Leases [Abstract]
Schedule of Right-of-use Assets and Lease Liabilities	The following table presents Devon’s right-of-use assets and lease liabilities as of March 31, 2019. Finance Operating Total Right-of-use assets $ 215 $ 150 $ 365 Lease liabilities: Current lease liabilities (1) $ 7 $ 60 $ 67 Long-term lease liabilities 238 60 298 Total lease liabilities $ 245 $ 120 $ 365 (1) Current lease liabilities are included in other current liabilities on the consolidated balance sheets.
Schedule of Total Lease Cost	The following table presents Devon’s total lease cost. Three Months Ended March 31, 2019 Operating lease cost (1)(2 ) $ 15 Short-term lease cost (1)(3 ) 26 Financing lease cost: Amortization of right-of-use assets (4 ) 6 Interest on lease liabilities ( 5 ) 3 Variable lease cost (1) 1 Lease income (1) (1 ) Net lease cost $ 50 (1) Included as a component of general and administrative expense in the accompanying consolidated comprehensive statements of earnings. (2) Includes certain amounts capitalized to oil and gas property and equipment in the accompanying consolidated balance sheets. (3) Short-term lease cost excludes leases with terms of one month or less. (4) Included as a component of depreciation, depletion and amortization in the accompanying consolidated comprehensive statements of earnings. (5) Included as a component of net financing costs in the accompanying consolidated comprehensive statements of earnings.
Schedule of Additional Lease Information	The following table presents Devon’s additional lease information for the three months ended March 31, 2019. Finance Operating Cash outflows for lease liabilities: Operating cash flows $ 2 $ 3 Investing cash flows $ — $ 15 Weighted average remaining lease term (years) 8.8 2.6 Weighted average discount rate 4.2 % 3.4 %
Maturities of Lease Liabilities	The following table presents Devon’s maturity analysis as of March 31, 2019 for leases expiring in each of the next 5 years and thereafter. Finance Operating Total (1) 2019 $ 5 $ 48 $ 53 2020 7 47 54 2021 7 16 23 2022 8 7 15 2023 8 7 15 Thereafter 306 1 307 Total lease payments 341 126 467 Less: interest (96 ) (6 ) (102 ) Present value of lease liabilities $ 245 $ 120 $ 365 (1) Under previous lease accounting standard, ASC 840, Devon’s lease obligations as of December 31, 2018 expiring in each of the next 5 years and thereafter were $72 million for 2019, $54 million for 2020, $24 million for 2021, $15 million for 2022, $15 million for 2023 and $33 million thereafter.
Schedule of Expected Lease Income	The following ta ble presents Devon’s expected lease income as of March 31, 2019 for each of the next 5 years and thereafter. Operating Lease Income (1) 2019 $ 4 2020 6 2021 7 2022 7 2023 7 Thereafter 53 Total $ 84 (1) Included in operating lease income is approximately $30 million related to leases which have been executed but not yet commenced.

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	3 Months Ended
	Mar. 31, 2019
Asset Retirement Obligation Disclosure [Abstract]
Summary Of Changes In Asset Retirement Obligations	The following table presents the changes in Devon’s asset retirement obligations. Three Months Ended March 31, 2019 2018 Asset retirement obligations as of beginning of period $ 1,057 $ 1,138 Liabilities incurred 7 15 Liabilities settled and divested (37 ) (20 ) Revision of estimated obligation (87 ) 23 Accretion expense on discounted obligation 14 16 Foreign currency translation adjustment 9 (13 ) Asset retirement obligations as of end of period 963 1,159 Less current portion 25 32 Asset retirement obligations, long-term $ 938 $ 1,127

Retirement Plans (Tables)

Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2019
Compensation And Retirement Disclosure [Abstract]
Schedule Of Net Periodic Benefit Cost For Pension Benefits Plan	Pension Benefits Three Months Ended March 31, 2019 2018 Service cost $ 2 $ 3 Interest cost 9 10 Expected return on plan assets (10 ) (14 ) Net actuarial loss (1) 3 4 Net periodic benefit cost (2) $ 4 $ 3 (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 (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2019
Stockholders Equity Note [Abstract]
Summary of Purchases of Common Stock	The table below provides information regarding purchases of Devon’s common stock that were made during 2018 and the first three months of 2019 (shares in thousands). Total Number of Shares Purchased Dollar Value of Shares Purchased Average Price Paid per Share First quarter 2018: Open-Market 2,561 $ 82 $ 32.19 Second quarter 2018: Open-Market 11,154 439 39.35 Third quarter 2018: Open-Market 16,492 712 43.13 ASR 24,330 1,000 41.10 Total 40,822 1,712 41.92 Fourth quarter 2018: Open-Market 23,612 745 31.57 First quarter 2019: Open-Market 36,141 1,024 28.33 Total inception-to-date 114,290 $ 4,002 $ 35.01

Discontinued Operations and A_2

Discontinued Operations and Assets Held for Sale (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations And Disposal Groups [Abstract]
Summary of Amounts Reported as Discontinued Operations in the Consolidated Comprehensive Statements of Earnings and Carrying Amounts of Assets and Liabilities Classified as Held for Sale on the Consolidated Balance Sheets	The following table presents the amounts reported in the consolidated comprehensive statements of earnings as discontinued operations. Three Months Ended March 31, 2018 Marketing and midstream revenues $ 1,612 Marketing and midstream expenses 1,341 Depreciation, depletion and amortization 138 General and administrative expenses 27 Financing costs, net 44 Other expenses (2 ) Total expenses 1,548 Earnings from discontinued operations before income taxes 64 Income tax expense 6 Net earnings from discontinued operations, net of income tax expense 58 Net earnings attributable to noncontrolling interests 44 Net earnings from discontinued operations attributable to Devon $ 14 The following table presents the carrying amounts of the assets and liabilities classified as held for sale on the consolidated balance sheets. The assets and liabilities classified as held for sale at December 31, 2018 are related to the divestiture of non-core upstream Permian Basin assets which closed in January 2019 as further discussed in Note 2 December 31, 2018 Accounts receivable $ 7 Oil and gas property and equipment, based on successful efforts accounting, net 190 Total assets held for sale $ 197 Accounts payable $ 3 Other current liabilities 19 Asset retirement obligations 47 Total liabilities held for sale $ 69

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 assets (liabilities): Cash equivalents $ 432 $ 432 $ 432 $ — Commodity derivatives $ 36 $ 36 $ — $ 36 Commodity derivatives $ (97 ) $ (97 ) $ — $ (97 ) Debt $ (5,786 ) $ (6,448 ) $ — $ (6,448 ) December 31, 2018 assets (liabilities): Cash equivalents $ 1,505 $ 1,505 $ 1,405 $ 100 Commodity derivatives $ 677 $ 677 $ — $ 677 Commodity derivatives $ (68 ) $ (68 ) $ — $ (68 ) Debt $ (5,947 ) $ (5,965 ) $ — $ (5,965 )

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2019
Segment Reporting [Abstract]
Schedule of Revenue from Contracts with Customers Disaggregated Based on Type of Good	The following table presents revenue from contracts with customers that are disaggregated based on the type of good. Three Months Ended March 31, 2019 Three Months Ended March 31, 2018 U.S. Canada Total U.S. Canada Total Oil $ 661 $ 351 $ 1,012 $ 677 $ 230 $ 907 Gas 233 — 233 255 — 255 NGL 174 — 174 198 — 198 Oil, gas and NGL revenues from contracts with customers 1,068 351 1,419 1,130 230 1,360 Oil, gas and NGL derivatives (605 ) (104 ) (709 ) (113 ) 72 (41 ) Upstream revenues 463 247 710 1,017 302 1,319 Oil 356 26 382 531 17 548 Gas 218 — 218 155 — 155 NGL 191 — 191 176 — 176 Total marketing revenues from contracts with customers 765 26 791 862 17 879 Total revenues $ 1,228 $ 273 $ 1,501 $ 1,879 $ 319 $ 2,198
Schedule of Selected Financial Information for Reporting Segments	The following table presents selected financial information for Devon’s reporting segments. U.S. Canada Total Three Months Ended March 31, 2019: Depreciation, depletion and amortization $ 380 $ 79 $ 459 Interest expense $ 71 $ 15 $ 86 Asset dispositions $ (44 ) $ — $ (44 ) Restructuring and transaction costs $ 51 $ 3 $ 54 Earnings (loss) from continuing operations before income taxes $ (450 ) $ 23 $ (427 ) Income tax benefit $ (106 ) $ (4 ) $ (110 ) Net earnings (loss) from continuing operations $ (344 ) $ 27 $ (317 ) Property and equipment, net $ 9,926 $ 3,938 $ 13,864 Total assets $ 13,513 $ 4,564 $ 18,077 Capital expenditures, including acquisitions $ 481 $ 49 $ 530 Three Months Ended March 31, 2018: Depreciation, depletion and amortization $ 305 $ 94 $ 399 Interest expense $ 247 $ 148 $ 395 Asset dispositions $ (12 ) $ — $ (12 ) Loss from continuing operations before income taxes $ (116 ) $ (129 ) $ (245 ) Income tax expense (benefit) $ 1 $ (35 ) $ (34 ) Net loss from continuing operations $ (117 ) $ (94 ) $ (211 ) Property and equipment, net $ 10,538 $ 4,186 $ 14,724 Total assets (1) $ 13,477 $ 5,271 $ 18,748 Capital expenditures, including acquisitions $ 612 $ 89 $ 701 (1 ) Total assets in the table above do not include assets held for sale related to Devon’s discontinued operations, which totaled $10.6 billion on March 31, 2018. Additional information about Devon’s discontinued operations can be found in Note 19

Divestitures (Narrative) (Detai

Divestitures (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)MMBoe	Mar. 31, 2018USD ($)
Business Acquisition [Line Items]
Gain recognized	$ 44	$ 12
Non Core Assets [Member] | Permian Basin [Member]
Business Acquisition [Line Items]
Divestitures of property and equipment	300
Gain recognized	$ 44
Total estimated proved reserves | MMBoe	25
Non Core Assets [Member] | Permian Basin [Member] | Maximum [Member]
Business Acquisition [Line Items]
Percentage of estimated U.S. total proved reserves associated with divestiture assets.	2.00%

Derivative Financial Instrume_3

Derivative Financial Instruments (Schedule Of Open Oil Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2019$ / bblbbl
NYMEX West Texas Intermediate Price Swaps Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	46,891
Weighted Average Price Swap	59.97
NYMEX West Texas Intermediate Price Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	3,238
Weighted Average Price Swap	60.13
NYMEX West Texas Intermediate Price Collars Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	87,484
Weighted Average Floor Price	54.60
Weighted Average Ceiling Price	64.62
NYMEX West Texas Intermediate Price Collars Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	17,186
Weighted Average Floor Price	51.97
Weighted Average Ceiling Price	62.12
NYMEX West Texas Intermediate Three-Way Price Collars Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	5,000
Weighted Average Ceiling Price	74.80
Weighted Average Floor Sold Price	50
Weighted Average Floor Purchased Price	63
Midland Sweet Basis Swaps Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	24,945
Weighted Average Differential To WTI	(0.46)
Argus LLS Basis Swaps Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	8,900
Weighted Average Differential To WTI	5.10
Argus MEH Basis Swaps Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	20,945
Weighted Average Differential To WTI	3.24
NYMEX Roll Basis Swaps Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	38,000
Weighted Average Differential To WTI	0.45
Western Canadian Select Basis Swaps Oil Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	62,762
Weighted Average Differential To WTI	(19.21)
Western Canadian Select Basis Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	4,577
Weighted Average Differential To WTI	(20.80)
NYMEX Roll Basis Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	38,000
Weighted Average Differential To WTI	0.31

Derivative Financial Instrume_4

Derivative Financial Instruments (Schedule Of Open Natural Gas Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2019MMBTU$ / MMBTU
FERC Henry Hub Price Swaps Natural Gas Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	262,525
Weighted Average Price Swap	2.81
FERC Henry Hub Price Swaps Natural Gas Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	51,409
Weighted Average Price Swap	2.86
FERC Henry Hub Price Collars Natural Gas Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	213,884
Weighted Average Floor Price	2.64
Weighted Average Ceiling Price	3.02
FERC Henry Hub Price Collars Natural Gas Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	40,071
Weighted Average Floor Price	2.73
Weighted Average Ceiling Price	3.03
PEPL Basis Swaps Natural Gas Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	63,018
Weighted Average Differential To Henry Hub	(0.71)
El Paso Natural Gas Basis Swaps Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	130,000
Weighted Average Differential To Henry Hub	(1.46)
Houston Ship Channel Natural Gas Basis Swaps Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	162,500
Weighted Average Differential To Henry Hub	0.01
PEPL Basis Swaps Natural Gas Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	30,000
Weighted Average Differential To Henry Hub	(0.47)
El Paso Natural Gas Basis Swaps Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	40,000
Weighted Average Differential To Henry Hub	(0.67)
Houston Ship Channel Natural Gas Basis Swaps Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	10,000
Weighted Average Differential To Henry Hub	0.02

Derivative Financial Instrume_5

Derivative Financial Instruments (Schedule Of Open NGL Derivative Positions) (Details)	3 Months Ended
	Mar. 31, 2019$ / bblbbl
OPIS Mont Belvieu Texas Ethane Price Swaps NGL Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	1,000
Weighted Average Price Swap | $ / bbl	11.55
OPIS Mont Belvieu Texas Natural Gasoline Price Swaps NGL Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	4,500
Weighted Average Price Swap | $ / bbl	55.93
OPIS Mont Belvieu Texas Normal Butane Price Swaps NGL Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	4,000
Weighted Average Price Swap | $ / bbl	33.69
OPIS Mont Belvieu Texas Propane Price Swaps NGL Q2-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	8,500
Weighted Average Price Swap | $ / bbl	30.01

Derivative Financial Instrume_6

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, 2019	Mar. 31, 2018
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ (708)	$ 5
Commodity Derivatives [Member] | Upstream Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	(709)	(41)
Commodity Derivatives [Member] | Marketing Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ 1
Interest Rate Derivatives [Member] | Other Expenses [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings		$ 46

Derivative Financial Instrume_7

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Derivatives Fair Value [Line Items]
Fair value of derivative assets	$ 36	$ 677
Fair value of derivative liabilities	97	68
Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	91	67
Commodity Derivatives [Member] | Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	30	637
Commodity Derivatives [Member] | Other Long-Term Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	6	40
Commodity Derivatives [Member] | Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	91	67
Commodity Derivatives [Member] | Other Long-Term Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	$ 6	$ 1

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, 2019	Mar. 31, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 49	$ 39
Related income tax benefit	10	1
G&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	26	37
Exploration Expenses [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	1	$ 2
Restructuring and Transaction Costs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accelerated share-based compensation expense	$ 22

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, 2019$ / sharesshares
Restricted Stock Awards And Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested at December 31, 2018 | shares	5,963
Granted, awards and units | shares	4,271
Vested, awards and units | shares	(2,505)
Forfeited, awards and units | shares	(442)
Unvested at March 31, 2019 | shares	7,287
Unvested weighted average grant-date fair value at December 31, 2018 | $ / shares	$ 35.47
Granted, weighted average grant-date fair value | $ / shares	25.47
Vested, weighted average grant-date fair value | $ / shares	35.05
Forfeited, weighted average grant-date fair value | $ / shares	26.83
Unvested weighted average grant-date fair value at March 31, 2019 | $ / shares	$ 30.27
Performance-Based Restricted Stock Awards [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested at December 31, 2018 | shares	302
Vested, awards and units | shares	(137)
Unvested at March 31, 2019 | shares	165
Unvested weighted average grant-date fair value at December 31, 2018 | $ / shares	$ 35.93
Vested, weighted average grant-date fair value | $ / shares	37.44
Unvested weighted average grant-date fair value at March 31, 2019 | $ / shares	$ 34.67
Performance Share Units [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Unvested at December 31, 2018 | shares	2,868
Granted, awards and units | shares	741
Forfeited, awards and units | shares	(1,267)
Unvested at March 31, 2019 | shares	2,342	[1]
Unvested weighted average grant-date fair value at December 31, 2018 | $ / shares	$ 30.14
Granted, weighted average grant-date fair value | $ / shares	28.97
Forfeited, weighted average grant-date fair value | $ / shares	11.15
Unvested weighted average grant-date fair value at March 31, 2019 | $ / shares	$ 40.05
[1]	A maximum of 4.7 million common shares could be awarded based upon Devon’s final TSR ranking.

Share-Based Compensation (Sum_2

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, 2019shares
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	4.7

Share-Based Compensation (Sum_3

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, 2019$ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 28.97
Risk-free interest rate	2.48%
Volatility factor	39.10%
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	$ 28.43
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 29.53

Share-Based Compensation (Sum_4

Share-Based Compensation (Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 162
Weighted average period for recognition (years)	2 years 9 months 18 days
Performance-Based Restricted Stock Awards [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Weighted average period for recognition (years)	2 years 2 months 12 days
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 33
Weighted average period for recognition (years)	1 year 10 months 24 days

Restructuring and Transaction_3

Restructuring and Transaction Costs (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	$ 54
Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	54
Expense associated with accelerated awards	$ 22

Restructuring and Transaction_4

Restructuring and Transaction Costs (Schedule Of The Activity And Balances Associated With Restructuring Liabilities) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Restructuring Cost And Reserve [Line Items]
Beginning balance	$ 63	$ 50
Ending balance	72	45
Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	30
Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(21)	(5)
Other Current Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	47	19
Ending balance	59	18
Other Current Liabilities [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	30
Other Current Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(18)	(1)
Other Long-Term Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	16	31
Ending balance	13	27
Other Long-Term Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	$ (3)	$ (4)

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, 2019	Mar. 31, 2018
Other Income And Expenses [Abstract]
Foreign exchange (gain) loss, net	$ (34)	$ 50
Asset retirement obligation accretion	14	16
Other, net	(25)	(45)
Total	$ (45)	$ 21

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Current income tax expense (benefit)	$ (3)	$ 4
Deferred income tax benefit	(107)	(38)
Total income tax benefit	$ (110)	$ (34)
U.S. statutory income tax rate	21.00%	21.00%
State income taxes	7.00%	1.00%
Other	(2.00%)	(8.00%)
Effective income tax rate	26.00%	14.00%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Change in deferred tax valuation allowance	$ 13
Valuation allowance against U.S. deferred tax assets, percent		100.00%

Net Loss Per Share from Conti_3

Net Loss Per Share from Continuing Operations (Loss Per Share Computations from Continuing Operations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Net loss from continuing operations:
Net loss from continuing operations		$ (317)	$ (211)
Basic and diluted loss from continuing operations		$ (317)	$ (211)
Common shares:
Common shares outstanding - total		434	527
Attributable to participating securities		(6)	(7)
Common shares outstanding - basic and diluted		428	520
Net loss per share from continuing operations:
Basic		$ (0.74)	$ (0.41)
Diluted		$ (0.74)	$ (0.41)
Antidilutive options	[1]	1	2
[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, 2019	Mar. 31, 2018	Dec. 31, 2018
Foreign currency translation:
Beginning accumulated foreign currency translation and other		$ 1,159	$ 1,309
Change in cumulative translation adjustment		35	(61)
Income tax benefit			13
Ending accumulated foreign currency translation		1,194	1,261
Pension and postretirement benefit plans:
Beginning accumulated pension and postretirement benefits		(132)	(143)
Recognition of net actuarial loss and prior service cost in earnings	[1]	3	4
Income tax expense		(1)
Ending accumulated pension and postretirement benefits		(130)	(139)
Accumulated other comprehensive earnings, net of tax		$ 1,064	$ 1,122	$ 1,027
[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 17 for additional details.

Supplemental Information To S_3

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, 2019	Mar. 31, 2018
Changes in assets and liabilities, net
Accounts receivable	$ (152)	$ 37
Other current assets	(7)	(88)
Other long-term assets	(19)	(53)
Accounts payable	(37)	4
Revenues and royalties payable	(49)	66
Other current liabilities	(30)	64
Other long-term liabilities	(8)	(5)
Total	(302)	25
Supplementary cash flow data - total operations:
Interest paid (net of capitalized interest)	53	76
Income taxes paid	$ 6	$ 1

Accounts Receivable (Schedule O

Accounts Receivable (Schedule Of Components Of Accounts Receivable) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Joint interest billings	$ 155	$ 155
Other	14	23
Gross accounts receivable	1,046	893
Allowance for doubtful accounts	(8)	(8)
Net accounts receivable	1,038	885
Oil, Gas and NGL Sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	608	430
Marketing Revenues [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	$ 269	$ 285

Property, Plant and Equipment_2

Property, Plant and Equipment (Table of Property and Equipment, net) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018
Property and equipment:
Proved	$ 47,325	$ 46,805
Unproved and properties under development	2,215	2,267
Total oil and gas	49,540	49,072
Less accumulated DD&A	(36,774)	(36,259)
Oil and gas property and equipment, net	12,766	12,813
Other property and equipment	1,819	1,832
Less accumulated DD&A	(721)	(710)
Other property and equipment, net	1,098	1,122
Total property and equipment, net	$ 13,864	$ 13,935	$ 14,724

Other Current Liabilities (Sche

Other Current Liabilities (Schedule Of Other Current Liabilities) (Details) - USD ($) $ in Millions		Mar. 31, 2019	Dec. 31, 2018
Other Liabilities, Current [Abstract]
Derivative liabilities		$ 97	$ 68
Accrued interest payable		106	80
Lease liabilities	[1]	67
Restructuring liabilities		59	47
Other		192	241
Other current liabilities		515	435
Other Current Liabilities [Member]
Other Liabilities, Current [Abstract]
Derivative liabilities		$ 91	$ 67
[1]	Current lease liabilities are included in other current liabilities on the consolidated balance sheets.

Debt And Related Expenses (Sche

Debt And Related Expenses (Schedule Of Debt Instruments and Balances) (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Short-term debt			$ 162
Net discount on debentures and notes		$ (24)	(24)
Debt issuance costs		(39)	(40)
Total debt		5,786	5,947
Total long-term debt		$ 5,786	5,785
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%	6.30%
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%
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%
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%
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%
7.875% due September 30, 2031 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	[1]	$ 675	$ 675
Debt, maturity date		Sep. 30, 2031
Debt interest rate, stated percentage		7.875%	7.875%
7.95% due April 15, 2032 [Member]
Debt Instrument [Line Items]
Long-term debt, gross	[1]	$ 366	$ 366
Debt, maturity date		Apr. 15, 2032
Debt interest rate, stated percentage		7.95%	7.95%
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%
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%
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%
[1]	These senior notes were included in the 2018 tender offer repurchases discussed below

Debt And Related Expenses (Narr

Debt And Related Expenses (Narrative) (Details) - USD ($)	1 Months Ended	3 Months Ended
	Jan. 31, 2019	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Redemption of senior notes		$ 162,000,000	$ 807,000,000
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
6.30% Due January 15, 2019 [Member]
Debt Instrument [Line Items]
Debt interest rate, stated percentage		6.30%		6.30%
Debt, maturity date		Jan. 15, 2019
6.30% Due January 15, 2019 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes	$ 162,000,000
Debt interest rate, stated percentage	6.30%
7.875% due September 30, 2031 [Member]
Debt Instrument [Line Items]
Debt interest rate, stated percentage		7.875%		7.875%
Debt, maturity date		Sep. 30, 2031
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]
Debt Instrument [Line Items]
Debt interest rate, stated percentage		7.95%		7.95%
Debt, maturity date		Apr. 15, 2032
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		0.216
Outstanding letters of credit		$ 52,000,000
Senior Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt-to-capitalization ratio		0.65

Debt And Related Expenses (Sc_2

Debt And Related Expenses (Schedule of Net Financing Cost Components) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Debt Disclosure [Abstract]
Interest based on debt outstanding	$ 78	$ 96
Early retirement of debt		312
Capitalized interest		(18)
Other	(5)	(3)
Total net financing costs	$ 73	$ 387

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions		Jan. 01, 2019	Mar. 31, 2019
Operating Leased Assets [Line Items]
Right-of-use assets			$ 365
Lease liabilities	[1]		$ 365
ASU 2016-02 [Member]
Operating Leased Assets [Line Items]
Right-of-use assets		$ 394
Lease liabilities		380
Cumulative effect on retained earnings, before tax		(24)
Cumulative effect on retained earnings		$ (19)
[1]	Under previous lease accounting standard, ASC 840, Devon’s lease obligations as of December 31, 2018 expiring in each of the next 5 years and thereafter were $72 million for 2019, $54 million for 2020, $24 million for 2021, $15 million for 2022, $15 million for 2023 and $33 million thereafter

Leases (Schedule of Right-of-us

Leases (Schedule of Right-of-use Assets and Lease Liabilities) (Details) $ in Millions	Mar. 31, 2019USD ($)
Leases [Abstract]
Right-of-use assets, finance lease	$ 215
Finance lease liabilities:
Current lease liabilities, finance lease	7	[1]
Long-term lease liabilities, finance lease	238
Total lease liabilities, finance lease	245
Right-of-use assets, operating lease	150
Operating lease liabilities:
Current lease liabilities, operating lease	60	[1]
Long-term lease liabilities, operating lease	60
Total lease liabilities, operating lease	120
Right-of-use assets	365
Lease liabilities:
Current lease liabilities	67	[1]
Long-term lease liabilities	298
Total lease liabilities	$ 365	[2]
[1]	Current lease liabilities are included in other current liabilities on the consolidated balance sheets.
[2]	Under previous lease accounting standard, ASC 840, Devon’s lease obligations as of December 31, 2018 expiring in each of the next 5 years and thereafter were $72 million for 2019, $54 million for 2020, $24 million for 2021, $15 million for 2022, $15 million for 2023 and $33 million thereafter

Leases (Schedule of Total Lease

Leases (Schedule of Total Lease Cost) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease cost	$ 15	[1],[2]
Short-term lease cost	26	[1],[3]
Financing lease cost:
Amortization of right-of-use assets	6	[4]
Interest on lease liabilities	3	[5]
Variable lease cost	1	[1]
Lease income	(1)	[1]
Net lease cost	$ 50
[1]	Included as a component of general and administrative expense in the accompanying consolidated comprehensive statements of earnings
[2]	Includes certain amounts capitalized to oil and gas property and equipment in the accompanying consolidated balance sheets.
[3]	Short-term lease cost excludes leases with terms of one month or less.
[4]	Included as a component of depreciation, depletion and amortization in the accompanying consolidated comprehensive statements of earnings.
[5]	Included as a component of net financing costs in the accompanying consolidated comprehensive statements of earnings.

Leases (Schedule of Additional

Leases (Schedule of Additional Lease Information) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)
Cash outflows for lease liabilities:
Operating cash flows, Finance lease	$ 2
Weighted average remaining lease term (years), Finance lease	8 years 9 months 18 days
Weighted average discount rate, Finance lease	4.20%
Operating cash flows, Operating lease	$ 3
Investing cash flows, Operating lease	$ 15
Weighted average remaining lease term (years), Operating lease	2 years 7 months 6 days
Weighted average discount rate, Operating lease	3.40%

Leases (Maturities of Lease Lia

Leases (Maturities of Lease Liabilities) (Details) $ in Millions	Mar. 31, 2019USD ($)
Leases [Abstract]
2019	$ 5
2020	7
2021	7
2022	8
2023	8
Thereafter	306
Total lease payments	341
Less: interest	(96)
Present value of lease liabilities	245
2019	48
2020	47
2021	16
2022	7
2023	7
Thereafter	1
Total lease payments	126
Less: interest	(6)
Present value of lease liabilities	120
2019	53	[1]
2020	54	[1]
2021	23	[1]
2022	15	[1]
2023	15	[1]
Thereafter	307	[1]
Total lease payments	467	[1]
Less: interest	(102)	[1]
Present value of lease liabilities	$ 365	[1]
[1]	Under previous lease accounting standard, ASC 840, Devon’s lease obligations as of December 31, 2018 expiring in each of the next 5 years and thereafter were $72 million for 2019, $54 million for 2020, $24 million for 2021, $15 million for 2022, $15 million for 2023 and $33 million thereafter

Leases (Maturities of Lease L_2

Leases (Maturities of Lease Liabilities) (Parenthetical) (Details) - USD ($) $ in Millions	Mar. 31, 2019	Dec. 31, 2018
Lease Liability Maturity Term [Line Items]
2019	$ 48
2020	47
2021	16
2022	7
2023	7
Thereafter	$ 1
ASC 840
Lease Liability Maturity Term [Line Items]
2019		$ 72
2020		54
2021		24
2022		15
2023		15
Thereafter		$ 33

Leases (Schedule of Expected Le

Leases (Schedule of Expected Lease Income ) (Details) $ in Millions	Mar. 31, 2019USD ($)	[1]
Leases [Abstract]
2019	$ 4
2020	6
2021	7
2022	7
2023	7
Thereafter	53
Total	$ 84
[1]	Included in operating lease income is approximately $30 million related to leases which have been executed but not yet commenced

Leases (Schedule of Expected _2

Leases (Schedule of Expected Lease Income ) (Parenthetical) (Details) $ in Millions	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease income for leases not yet commenced	$ 30

Asset Retirement Obligations (S

Asset Retirement Obligations (Summary Of Changes In Asset Retirement Obligations) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations as of beginning of period	$ 1,057	$ 1,138
Liabilities incurred	7	15
Liabilities settled and divested	(37)	(20)
Revision of estimated obligation	(87)	23
Accretion expense on discounted obligation	14	16
Foreign currency translation adjustment	9	(13)
Asset retirement obligations as of end of period	963	1,159
Less current portion	25	32
Asset retirement obligations, long-term	$ 938	$ 1,127	$ 1,030

Asset Retirement Obligations (N

Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Asset Retirement Obligation [Abstract]
Revision of estimated obligation	$ (87)	$ 23

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
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 Benefits Plan) (Details) - Pension Benefits [Member] - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2019	Mar. 31, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 2	$ 3
Interest cost		9	10
Expected return on plan assets		(10)	(14)
Net actuarial loss	[1]	3	4
Net periodic benefit cost	[2]	$ 4	$ 3
[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, $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2019	Mar. 31, 2019	Jun. 30, 2018	Mar. 31, 2018
Stockholders Equity [Abstract]
Common stock dividends paid, amount		$ 34		$ 32
Common stock dividends, rate per share		$ 0.08	$ 0.08	$ 0.06
Percentage of increase to quarterly dividend	12.50%
Common stock dividends, rate per share, declared	$ 0.09
Share Repurchase Program [Member]
Stockholders Equity [Abstract]
Share-repurchase program, additional authorized amount	$ 1,000		$ 3,000
Share-repurchase program expiration date		Dec. 31, 2019
Share Repurchase Program [Member] | Maximum [Member]
Stockholders Equity [Abstract]
Share-repurchase program, authorized amount	$ 5,000			$ 1,000

Stockholders' Equity (Summary o

Stockholders' Equity (Summary of Purchases of Common Stock) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended					15 Months Ended
	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Mar. 31, 2019
Stockholders Equity [Line Items]
Total Number of Shares Purchased			40,822			114,290
Dollar Value of Shares Purchased			$ 1,712			$ 4,002
Average Price Paid per Share			$ 41.92			$ 35.01
Open-Market [Member]
Stockholders Equity [Line Items]
Total Number of Shares Purchased	36,141	23,612	16,492	11,154	2,561
Dollar Value of Shares Purchased	$ 1,024	$ 745	$ 712	$ 439	$ 82
Average Price Paid per Share	$ 28.33	$ 31.57	$ 43.13	$ 39.35	$ 32.19
ASR [Member]
Stockholders Equity [Line Items]
Total Number of Shares Purchased			24,330
Dollar Value of Shares Purchased			$ 1,000
Average Price Paid per Share			$ 41.10

Discontinued Operations and A_3

Discontinued Operations and Assets Held for Sale (Narrative) (Details) - EnLink and General Partner [Member] $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)MMcf	Sep. 30, 2018USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sale of aggregate ownership interests		$ 3,125
Effective close date of divestiture	Jul. 18, 2018
Gain on sale of aggregate ownership interests, before-tax		2,600
Gain on sale of aggregate ownership interests, after-tax		2,200
Cash income taxes		$ 12
Net cash outflows	$ 150
Chisholm Gathering and Processing Contract [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gathering and processing minimum volume commitments period end	early 2021
Bridgeport and Cana Gathering and Processing Contracts [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Commitment Termination Date	Dec. 31, 2029
Minimum [Member] | Chisholm Gathering and Processing Contract [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Minimum gathering volume commitment | MMcf	77
Minimum processing volume commitment | MMcf	77
Maximum [Member] | Chisholm Gathering and Processing Contract [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Minimum gathering volume commitment | MMcf	128
Minimum processing volume commitment | MMcf	128

Discontinued Operations and A_4

Discontinued Operations and Assets Held for Sale (Amounts Reported as Discontinued Operations in the Consolidated Comprehensive Statements of Earnings) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2018USD ($)
Discontinued Operations And Disposal Groups [Abstract]
Marketing and midstream revenues	$ 1,612
Marketing and midstream expenses	1,341
Depreciation, depletion and amortization	138
General and administrative expenses	27
Financing costs, net	44
Other expenses	(2)
Total expenses	1,548
Earnings from discontinued operations before income taxes	64
Income tax expense	6
Net earnings from discontinued operations, net of income tax expense	58
Net earnings attributable to noncontrolling interests	44
Net earnings from discontinued operations attributable to Devon	$ 14

Discontinued Operations and A_5

Discontinued Operations and Assets Held for Sale (Carrying Amounts of Assets and Liabilities Classified as Held for Sale on Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Mar. 31, 2018
Disposal Group Including Discontinued Operation Balance Sheet Disclosures [Abstract]
Accounts receivable	$ 7
Oil and gas property and equipment, based on successful efforts accounting, net	190
Total assets held for sale	197	$ 10,600
Accounts payable	3
Other current liabilities	19
Asset retirement obligations	47
Total liabilities held for sale	$ 69

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019Defendant
Parishes in Louisiana [Member] | Minimum [Member]
Loss Contingencies [Line Items]
Number of defendants	100

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, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	$ 36	$ 677
Derivatives, liabilities	(97)	(68)
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	432	1,505
Debt	(5,786)	(5,947)
Carrying Amount [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	36	677
Derivatives, liabilities	(97)	(68)
Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	432	1,505
Debt	(6,448)	(5,965)
Total Fair Value [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	36	677
Derivatives, liabilities	(97)	(68)
Level 1 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	432	1,405
Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		100
Debt	(6,448)	(5,965)
Level 2 Inputs [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	36	677
Derivatives, liabilities	$ (97)	$ (68)

Segment Information (Schedule o

Segment Information (Schedule of Selected Financial Information for Reporting Segments) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2019USD ($)segment	Mar. 31, 2018USD ($)		Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	$ 459	$ 399
Interest expense	86	395
Asset dispositions	(44)	(12)
Restructuring and transaction costs	54
Earnings (loss) from continuing operations before income taxes	(427)	(245)
Income tax expense (benefit)	(110)	(34)
Net earnings (loss) from continuing operations	(317)	(211)
Property and equipment, net	13,864	14,724		$ 13,935
Total assets	18,077			$ 19,566
Capital expenditures, including acquisitions	530	701
Continuing Operations [Member]
Segment Reporting Information [Line Items]
Total assets	$ 18,077	18,748	[1]
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]
Depreciation, depletion and amortization	$ 380	305
Interest expense	71	247
Asset dispositions	(44)	(12)
Restructuring and transaction costs	51
Earnings (loss) from continuing operations before income taxes	(450)	(116)
Income tax expense (benefit)	(106)	1
Net earnings (loss) from continuing operations	(344)	(117)
Property and equipment, net	9,926	10,538
Capital expenditures, including acquisitions	481	612
United States [Member] | Operating Segments [Member] | Continuing Operations [Member]
Segment Reporting Information [Line Items]
Total assets	13,513	13,477	[1]
Canada [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Depreciation, depletion and amortization	79	94
Interest expense	15	148
Restructuring and transaction costs	3
Earnings (loss) from continuing operations before income taxes	23	(129)
Income tax expense (benefit)	(4)	(35)
Net earnings (loss) from continuing operations	27	(94)
Property and equipment, net	3,938	4,186
Capital expenditures, including acquisitions	49	89
Canada [Member] | Operating Segments [Member] | Continuing Operations [Member]
Segment Reporting Information [Line Items]
Total assets	$ 4,564	$ 5,271	[1]
[1]	Total assets in the table above do not include assets held for sale related to Devon’s discontinued operations, which totaled $10.6 billion on March 31, 2018. Additional information about Devon’s discontinued operations can be found in Note 19

Segment Information (Schedule_2

Segment Information (Schedule of Revenue from Contracts with Customers Disaggregated Based on Type of Good) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	$ 791	$ 879
Oil, gas and NGL derivatives	(709)	(41)
Upstream revenues	710	1,319
Total revenues	1,501	2,198
Operating Segments [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL derivatives	(605)	(113)
Upstream revenues	463	1,017
Total revenues	1,228	1,879
Operating Segments [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL derivatives	(104)	72
Upstream revenues	247	302
Total revenues	273	319
Oil, Gas and NGL Sales [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,419	1,360
Oil, Gas and NGL Sales [Member] | Oil [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,012	907
Oil, Gas and NGL Sales [Member] | Gas [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	233	255
Oil, Gas and NGL Sales [Member] | NGL [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	174	198
Oil, Gas and NGL Sales [Member] | Operating Segments [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,068	1,130
Oil, Gas and NGL Sales [Member] | Operating Segments [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	351	230
Oil, Gas and NGL Sales [Member] | Operating Segments [Member] | Oil [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	661	677
Oil, Gas and NGL Sales [Member] | Operating Segments [Member] | Oil [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	351	230
Oil, Gas and NGL Sales [Member] | Operating Segments [Member] | Gas [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	233	255
Oil, Gas and NGL Sales [Member] | Operating Segments [Member] | NGL [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	174	198
Marketing Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	791	879
Marketing Revenues [Member] | Oil [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	382	548
Marketing Revenues [Member] | Gas [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	218	155
Marketing Revenues [Member] | NGL [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	191	176
Marketing Revenues [Member] | Operating Segments [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	765	862
Marketing Revenues [Member] | Operating Segments [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	26	17
Marketing Revenues [Member] | Operating Segments [Member] | Oil [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	356	531
Marketing Revenues [Member] | Operating Segments [Member] | Oil [Member] | Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	26	17
Marketing Revenues [Member] | Operating Segments [Member] | Gas [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	218	155
Marketing Revenues [Member] | Operating Segments [Member] | NGL [Member] | U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	$ 191	$ 176

Segment Information (Schedule_3

Segment Information (Schedule of Selected Financial Information for Reporting Segments) (Parenthetical) (Details) - USD ($) $ in Millions	Dec. 31, 2018	Mar. 31, 2018
Segment Reporting [Abstract]
Total assets related to discontinued operations	$ 197	$ 10,600