Devon Energy (DVN) 10-Q 6 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares shares in Millions	9 Months Ended
	Sep. 30, 2019	Oct. 23, 2019
Cover [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 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	Q3
Entity Common Stock, Shares Outstanding		384.1
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity File Number	001-32318
Entity Tax Identification Number	73-1567067
Entity Address, Address Line One	333 West Sheridan Avenue
Entity Address, City or Town	Oklahoma City
Entity Address, State or Province	OK
Entity Address, Postal Zip Code	73102-5015
City Area Code	405
Local Phone Number	235-3611
Entity Interactive Data Current	Yes
Title of 12(b) Security	Common Stock, par value $0.10 per share
Security Exchange Name	NYSE
Entity Incorporation, State or Country Code	DE
Document Quarterly Report	true
Document Transition Report	false

Consolidated Comprehensive Stat

Consolidated Comprehensive Statements Of Earnings - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Upstream revenues		$ 1,147	$ 934	$ 2,801	$ 2,717
Revenues		$ 700	$ 1,222	$ 2,195	$ 3,240
Type of Revenue [Extensible List]		us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember
Total revenues		$ 1,847	$ 2,156	$ 4,996	$ 5,957
Production expenses		368	417	1,104	1,218
Exploration expenses		18	22	29	105
Expenses		$ 684	$ 1,201	$ 2,147	$ 3,216
Type of Cost, Good or Service [Extensible List]		us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember	us-gaap:NaturalGasGatheringTransportationMarketingAndProcessingMember
Depreciation, depletion and amortization		$ 402	$ 342	$ 1,176	$ 989
Asset impairments			2		156
Asset dispositions		(2)	(6)	(47)	5
General and administrative expenses		107	128	356	438
Financing costs, net		60	68	186	521
Restructuring and transaction costs		10	6	73	91
Other expenses		6	(9)	(3)	(73)
Total expenses		1,653	2,171	5,021	6,666
Earnings (loss) from continuing operations before income taxes		194	(15)	(25)	(709)
Income tax expense (benefit)		55	(171)	16	(161)
Net earnings (loss) from continuing operations		139	156	(41)	(548)
Net earnings (loss) from discontinued operations, net of income taxes		(30)	2,407	328	2,623
Net earnings		109	2,563	287	2,075
Net earnings attributable to noncontrolling interests			26		160
Net earnings attributable to Devon		$ 109	$ 2,537	$ 287	$ 1,915
Basic net earnings (loss) per share:
Basic earnings (loss) from continuing operations per share		$ 0.35	$ 0.32	$ (0.10)	$ (1.08)
Basic earnings (loss) from discontinued operations per share		(0.08)	4.85	0.79	4.82
Basic net earnings per share		0.27	5.17	0.69	3.74
Diluted net earnings (loss) per share:
Diluted earnings (loss) from continuing operations per share		0.35	0.32	(0.10)	(1.08)
Diluted earnings (loss) from discontinued operations per share		(0.08)	4.82	0.79	4.82
Diluted net earnings per share		$ 0.27	$ 5.14	$ 0.69	$ 3.74
Comprehensive earnings (loss):
Net earnings		$ 109	$ 2,563	$ 287	$ 2,075
Other comprehensive earnings (loss), net of tax:
Foreign currency translation, discontinued operations			35	78	(47)
Release of Canadian cumulative translation adjustment, discontinued operations	[1]			(1,237)
Pension and postretirement plans		1	36	16	43
Other comprehensive earnings (loss), net of tax		1	71	(1,143)	(4)
Comprehensive earnings (loss):		110	2,634	(856)	2,071
Comprehensive earnings attributable to noncontrolling interests			26		160
Comprehensive earnings (loss) attributable to Devon		$ 110	$ 2,608	$ (856)	$ 1,911
[1]	In conjunction with the sale of substantially all of its Canadian oil and gas assets and operations in Canada, Devon released the cumulative translation adjustment as part of its gain on the disposition of its Canadian business. See Note 18

Consolidated Statements Of Cash

Consolidated Statements Of Cash Flows - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net earnings	$ 109	$ 2,563	$ 287	$ 2,075
Adjustments to reconcile net earnings to net cash from operating activities:
Net (earnings) loss from discontinued operations, net of income taxes	30	(2,407)	(328)	(2,623)
Depreciation, depletion and amortization	402	342	1,176	989
Asset impairments		2		156
Leasehold impairments	13	14	15	75
Accretion on discounted liabilities	10	9	30	27
Total (gains) losses on commodity derivatives	(127)	376	338	976
Cash settlements on commodity derivatives	71	(175)	125	(404)
(Gains) losses on asset dispositions	(2)	(6)	(47)	5
Deferred income tax expense (benefit)	53	(145)	15	(149)
Share-based compensation	23	25	92	112
Early retirement of debt				312
Other	2	43	(10)	(22)
Changes in assets and liabilities, net	13	(81)	(130)	(10)
Net cash from operating activities - continuing operations	597	560	1,563	1,519
Cash flows from investing activities:
Capital expenditures	(536)	(548)	(1,532)	(1,653)
Acquisitions of property and equipment	(5)	(19)	(28)	(35)
Divestitures of property and equipment	7	89	346	696
Net cash from investing activities - continuing operations	(534)	(478)	(1,214)	(992)
Cash flows from financing activities:
Repayments of long-term debt principal		(21)	(162)	(828)
Early retirement of debt				(304)
Repurchases of common stock	(561)	(1,698)	(1,746)	(2,197)
Dividends paid on common stock	(35)	(38)	(106)	(112)
Shares exchanged for tax withholdings	(1)	(3)	(23)	(38)
Net cash from financing activities - continuing operations	(597)	(1,760)	(2,037)	(3,479)
Net change in cash, cash equivalents and restricted cash of continuing operations	(534)	(1,678)	(1,688)	(2,952)
Cash flows from discontinued operations:
Operating activities	(96)	293	(63)	643
Investing activities	7	2,900	2,504	2,350
Financing activities	(1,571)	71	(1,579)	174
Effect of exchange rate changes on cash	(3)	10	36	222
Net change in cash, cash equivalents and restricted cash of discontinued operations	(1,663)	3,274	898	3,389
Net change in cash, cash equivalents and restricted cash	(2,197)	1,596	(790)	437
Cash, cash equivalents and restricted cash at beginning of period	3,853	1,525	2,446	2,684
Cash, cash equivalents and restricted cash at end of period	1,656	3,121	1,656	3,121
Reconciliation of cash, cash equivalents and restricted cash:
Cash and cash equivalents	1,375	3,102	1,375	3,102
Cash restricted for discontinued operations	280		280
Restricted cash included in other current assets	1	19	1	19
Cash, cash equivalents and restricted cash at end of period	$ 1,656	$ 3,121	$ 1,656	$ 3,121

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions		Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents		$ 1,375	$ 2,414
Cash restricted for discontinued operations		280
Accounts receivable		787	855
Current assets associated with discontinued operations		21	283
Other current assets		383	885
Total current assets		2,846	4,437
Oil and gas property and equipment, based on successful efforts accounting, net		9,122	8,982
Other property and equipment, net		1,055	1,044
Total property and equipment, net		10,177	10,026
Goodwill		841	841
Right-of-use assets		219
Other long-term assets		216	276
Long-term assets associated with discontinued operations		95	3,986
Total assets		14,394	19,566
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		513	563
Revenues and royalties payable		700	832
Short-term debt			162
Current liabilities associated with discontinued operations		172	338
Other current liabilities		273	331
Total current liabilities		1,658	2,226
Long-term debt	[1]	4,295	4,292
Lease liabilities		244
Asset retirement obligations		526	606
Other long-term liabilities		431	442
Long-term liabilities associated with discontinued operations		175	2,285
Deferred income taxes		523	529
Stockholders' equity:
Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 387 million and 450 million shares in 2019 and 2018, respectively		39	45
Additional paid-in capital		2,815	4,486
Retained earnings		3,812	3,650
Accumulated other comprehensive earnings (loss)		(116)	1,027
Treasury stock, at cost, 0.3 million and 1.0 million shares in 2019 and 2018, respectively		(8)	(22)
Total stockholders’ equity		6,542	9,186
Total liabilities and stockholders' equity		$ 14,394	$ 19,566
[1]	The balance as of December 31, 2018 excludes the $1.5 billion of Senior Notes classified as liabilities held for sale that were retired early in July 2019 utilizing a portion of the proceeds from the sale of Devon’s Canadian business. See Note 18

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 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)	387,000,000	450,000,000
Treasury stock, shares	300,000	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 (Loss) [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	2,075			1,915			160
Other comprehensive earnings (loss), net of tax	(4)				(4)
Restricted stock grants, net of cancellations, shares		3
Common stock repurchased	(2,271)					$ (2,271)
Common stock retired		$ (6)	(2,230)			2,236
Common stock retired, shares		(55)
Common stock dividends	(112)			(112)
Share-based compensation	114		114
Share-based compensation, shares		1
Divestment of subsidiary equity investment	(4,861)				2		(4,863)
Subsidiary equity transactions	72						72
Distributions to noncontrolling interests	(219)						(219)
Balance at Sep. 30, 2018	8,898	$ 47	5,217	2,505	1,164	(35)
Balance, shares at Sep. 30, 2018		474
Balance at Jun. 30, 2018	12,848	$ 51	6,888	6	1,091	(22)	4,834
Balance, shares at Jun. 30, 2018		515
Net earnings	2,563			2,537			26
Other comprehensive earnings (loss), net of tax	71				71
Common stock repurchased	(1,715)					(1,715)
Common stock retired		$ (4)	(1,698)			1,702
Common stock retired, shares		(41)
Common stock dividends	(38)			(38)
Share-based compensation	25		25
Divestment of subsidiary equity investment	(4,861)				2		(4,863)
Subsidiary equity transactions	5		2				$ 3
Balance at Sep. 30, 2018	8,898	$ 47	5,217	2,505	1,164	(35)
Balance, shares at Sep. 30, 2018		474
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	287			287
Other comprehensive earnings (loss), net of tax	(1,143)				(1,143)
Restricted stock grants, net of cancellations, shares		3
Common stock repurchased	(1,755)					(1,755)
Common stock retired		$ (6)	(1,763)			1,769
Common stock retired, shares		(66)
Common stock dividends	(106)			(106)
Share-based compensation	92		92
Balance at Sep. 30, 2019	6,542	$ 39	2,815	3,812	(116)	(8)
Balance, shares at Sep. 30, 2019		387
Balance at Jun. 30, 2019	6,994	$ 41	3,352	3,738	(117)	(20)
Balance, shares at Jun. 30, 2019		410
Net earnings	109			109
Other comprehensive earnings (loss), net of tax	1				1
Common stock repurchased	(549)					(549)
Common stock retired		$ (2)	(559)			561
Common stock retired, shares		(23)
Common stock dividends	(35)			(35)
Share-based compensation	22		22
Balance at Sep. 30, 2019	$ 6,542	$ 39	$ 2,815	$ 3,812	$ (116)	$ (8)
Balance, shares at Sep. 30, 2019		387

Summary Of Significant Accounti

Summary Of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary Of Significant Accounting Policies	DEVON ENERGY CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) 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 and nine-month periods ended September 30, 2019 and 2018 and Devon’s financial position as of September 30, 2019. As further discussed in Note 18 , Devon sold its Canadian operations on June 27, 2019 and its ownership interests in EnLink and the General Partner on July 18, 2018. Activity relating to Devon’s Canadian operations and EnLink and the General Partner are classified as discontinued operations within Devon’s consolidated comprehensive statements of earnings and consolidated statements of cash flows. The associated assets and liabilities of Devon’s Canadian operations are presented as assets and liabilities associated with discontinued operations on the consolidated balance sheets. Segment Information Subsequent to the sale of Devon’s Canadian business in 2019 discussed in Note 18 , Devon’s oil and gas exploration and production activities are solely focused in the U.S. For financial reporting purposes, Devon aggregates its U.S. operating segments into one reporting segment due to the similar nature of its business. With the reclassification of Devon’s Canadian operations to discontinued operations and assets and liabilities associated with discontinued operations, Devon now has one reporting segment, which is reflected in the consolidated financial statements. The following table presents revenue from contracts with customers that are disaggregated based on the type of good. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Oil $ 754 $ 794 $ 2,168 $ 2,279 Gas 144 210 524 672 NGL 122 306 447 742 Oil, gas and NGL revenues from contracts with customers 1,020 1,310 3,139 3,693 Oil, gas and NGL derivatives 127 (376 ) (338 ) (976 ) Upstream revenues 1,147 934 2,801 2,717 Oil 407 750 1,157 2,047 Gas 142 191 532 506 NGL 151 281 506 687 Total marketing revenues from contracts with customers 700 1,222 2,195 3,240 Total revenues $ 1,847 $ 2,156 $ 4,996 $ 5,957 Recently Adopted Accounting Standards In January 2019, Devon adopted ASU 2016-02, Leases (Topic 842) Note 14 The SEC released Final Rule No. 33-10532, Disclosure Update and Simplification , which amends various SEC disclosure requirements determined to be redundant, duplicative, overlapping, outdated or superseded as part of the SEC’s ongoing disclosure effectiveness initiative. The rule was effective November 5, 2018. The rule amended numerous SEC rules, items and forms covering a diverse group of topics. Devon has implemented these required changes which generally reduced or eliminated disclosures. Devon adopted the requirement of presenting curr ent and comparative quarterly stockholders’ equity roll forward s in the first quarter of 2019. The SEC released Final Rule Release No. 33-10618 , FAST Act Modernization and Simplification of Regulation S-K 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

Divestitures

Divestitures	9 Months Ended
	Sep. 30, 2019
Business Combinations [Abstract]
Divestitures	2. Dive 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. On June 27, 2019, Devon completed the sale of substantially all of its oil and gas assets and operations in Canada to Canadian Natural Resources Limited for proceeds, net of purchase price adjustments, of $2.6 billion ($3.4 billion Canadian dollars), and recognized a pre-tax gain of $223 million ($480 million, net of tax). Included within this gain is a $34 million ($20 million, net of tax) adjustment to the gain in the third quarter of 2019 related to an interim post closing settlement with Canadian Natural Resources Limited with final closing expected in the fourth quarter of 2019. As a part of the transaction, $436 million of asset retirement obligations were assumed by Canadian Natural Resources Limited. In aggregate, the total estimated proved reserves associated with these assets were approximately 400 MMBoe, or 21% of total proved reserves. In conjunction with the Canadian divestiture, Devon recognized approximately $280 million of restructuring and asset impairment related charges. These costs relate to personnel, office lease abandonment and a firm transportation agreement abandonment. Additional information on these discontinued operations can be found in Note 18 . Devon is evaluating multiple methods of separation for the Barnett Shale assets, including a potential sale, merger or spin-off. Estimated proved reserves associated with Devon’s Barnett Shale assets are approximately 46% of total U.S. proved reserves. As of September 30, 2019, Devon’s Barnett Shale assets were considered held for use and had a net carrying value of approximately $1.4 billion. Devon evaluated its Barnett Shale assets for impairment as of September 30, 2019, and concluded an impairment was not required. This conclusion was based on probability-weighted computations applied to fair value estimates of held for use and held for sale options under evaluation. Although an impairment was not required to be recognized at September 30, 2019, should Devon enter into a sale transaction at current market estimates for its Barnett Shale assets, Devon would recognize an impairment based on the estimated transaction value as compared to the carrying value. Devon anticipates reporting all information for its Barnett Shale assets as discontinued operations when all the requisite criteria are met for such financial statement presentation. In the first quarter of 2019, Devon received proceeds of approximately $ million and recognized a $ 44 million net gain on asset dispositions, 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. During the second quarter of 2018, Devon sold a portion of its Barnett Shale assets, primarily located in Johnson County for $553 million. Estimated proved reserves associated with these assets were approximately 10% of total proved reserves. The transaction resulted in an adjustment to Devon’s capitalized costs with no gain recognized in the consolidated statement of earnings. In conjunction with the divestiture, Devon settled certain gas processing contracts and recognized an approximately $40 million settlement expense, which is included in asset dispositions within the consolidated statement of earnings. During the third quarter of 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). The proceeds from the sale were utilized to increase Devon’s share repurchase program, which is discussed further in Note 17 . Additional information on these discontinued operations can be found in Note 18 .

Derivative Financial Instrument

Derivative Financial Instruments	9 Months Ended
	Sep. 30, 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. As of September 30, 2019, Devon did not have any open interest rate swap 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 September 30, 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) Q4 2019 35,600 $ 61.21 79,500 $ 54.06 $ 64.13 Q1-Q4 2020 7,238 $ 57.29 31,932 $ 51.85 $ 61.93 Q1-Q4 2021 493 $ 52.75 1,479 $ 48.48 $ 58.48 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) Q4 2019 5,000 $ 50.00 $ 63.00 $ 74.80 Oil Basis Swaps Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Q4 2019 Midland Sweet 28,000 $ (0.46 ) Q4 2019 Argus LLS 7,500 $ 5.18 Q4 2019 Argus MEH 26,000 $ 3.33 Q4 2019 NYMEX Roll 38,000 $ 0.45 Q1-Q4 2020 Argus MEH 9,000 $ 3.44 Q1-Q4 2020 NYMEX Roll 44,000 $ 0.34 As of September 30, 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) Q4 2019 243,300 $ 2.80 195,000 $ 2.64 $ 3.03 Q1-Q4 2020 81,409 $ 2.77 42,557 $ 2.73 $ 3.03 Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q4 2019 Panhandle Eastern Pipe Line 20,000 $ (0.56 ) Q4 2019 El Paso Natural Gas 130,000 $ (1.46 ) 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 45,000 $ (0.70 ) Q1-Q4 2020 Houston Ship Channel 10,000 $ 0.02 As of September 30, 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) Q4 2019 Ethane 1,000 $ 11.55 Q4 2019 Natural Gasoline 4,500 $ 55.93 Q4 2019 Normal Butane 4,000 $ 33.69 Q4 2019 Propane 8,500 $ 30.01 Q1-Q4 2020 Natural Gasoline 1,000 $ 44.84 Q1-Q4 2020 Normal Butane 1,000 $ 23.52 Q1-Q4 2020 Propane 4,500 $ 25.18 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Commodity derivatives: Upstream revenues $ 127 $ (376 ) $ (338 ) $ (976 ) Marketing revenues — — 1 (1 ) Interest rate derivatives: Other expenses — — — 65 Net gains (losses) recognized $ 127 $ (376 ) $ (337 ) $ (912 ) The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. September 30, 2019 December 31, 2018 Commodity derivative assets: Other current assets $ 163 $ 634 Other long-term assets 15 40 Total derivative assets $ 178 $ 674 Commodity derivative liabilities: Other current liabilities $ 2 $ 32 Other long-term liabilities — 1 Total derivative liabilities $ 2 $ 33

Share-Based Compensation

Share-Based Compensation	9 Months Ended
	Sep. 30, 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 6 and is included in restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings. Nine Months Ended September 30, 2019 2018 G&A $ 64 $ 82 Exploration expenses 1 2 Restructuring and transaction costs 27 28 Total $ 92 $ 112 Related income tax benefit $ 13 $ 16 Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first nine 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 4,404 $ 25.49 — $ — 741 $ 28.97 Vested (4,402 ) $ 33.62 (149 ) $ 38.03 (145 ) $ 37.23 Forfeited (700 ) $ 27.44 — $ — (1,301 ) $ 11.80 Unvested at 9/30/19 5,265 $ 29.73 153 $ 33.88 2,163 (1 ) $ 40.31 (1) A maximum of 4.3 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 September 30, 2019. Performance-Based Restricted Stock Restricted Stock Performance Awards and Units Awards Share Units Unrecognized compensation cost $ 97 $ — $ 18 Weighted average period for recognition (years) 2.6 1.7 1.5

Asset Impairments

Asset Impairments	9 Months Ended
	Sep. 30, 2019
Asset Impairment Charges [Abstract]
Asset Impairments	5. Asset Asset During the first nine months of 2018, Devon recognized $109 million of proved asset impairments relating to U.S. non-core assets no longer in its development plans and approximately $47 million of non-oil and gas asset impairments. Unproved During the first nine months of 2019 and 2018, Devon impaired certain non-core acreage in the U.S. that it no longer intends to pursue for exploration opportunities, resulting in unproved impairments of $15 million and $76 million, respectively. Unproved impairments are included in exploration expenses in the consolidated comprehensive statements of earnings.

Restructuring and Transaction C

Restructuring and Transaction Costs	9 Months Ended
	Sep. 30, 2019
Restructuring And Related Activities [Abstract]
Restructuring and Transaction Costs	6. Restructuring and 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 . As a result, Devon recognized $73 million of restructuring expenses during the first nine months of 2019. Of these expenses, $27 million resulted from accelerated vesting of share-based grants, which are noncash charges. Additionally, $ 5 million resulted from settlements of defined retirement benefits. During the first nine months of 2018, Devon recognized $91 million in personnel related restructuring expenses related to workforce reductions. Of these expenses, $28 million resulted from accelerated vesting of share-based grants, which are noncash charges. Additionally, $15 million resulted from estimated settlements of defined retirement benefits. Devon anticipates recognizing additional restructuring charges in 2019, primarily when the separation of its Barnett Shale assets is completed. The following table summarizes Devon’s restructuring liabilities. Other Other Current Long-term Liabilities Liabilities Total Balance as of December 31, 2018 $ 39 $ 3 $ 42 Changes related to 2019 workforce reductions 22 — 22 Changes related to prior years' restructurings (31 ) (2 ) (33 ) Balance as of September 30, 2019 $ 30 $ 1 $ 31 Balance as of December 31, 2017 $ 17 $ 17 $ 34 Changes related to prior years' restructurings 32 (11 ) 21 Balance as of September 30, 2018 $ 49 $ 6 $ 55

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	7. Inco 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Earnings (loss) from continuing operations before income taxes $ 194 $ (15 ) $ (25 ) $ (709 ) Current income tax expense (benefit) $ 2 $ (26 ) $ 1 $ (12 ) Deferred income tax expense (benefit) 53 (145 ) 15 (149 ) Total income tax expense (benefit) $ 55 $ (171 ) $ 16 $ (161 ) U.S. statutory income tax rate 21 % 21 % 21 % 21 % State income taxes 6 % 47 % (8 %) 0 % Change in unrecognized tax benefits 0 % 151 % (6 %) 3 % Other 1 % 43 % (70 %) (1 %) Deferred tax asset valuation allowance 0 % 897 % 0 % 0 % Effective income tax rate 28 % 1,159 % (63 %) 23 % 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 composed of permanent differences primarily related to stock compensation 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 nine months of 2019 and the three months ended September 30, 2018 due to the low relative net loss in each period. In total, “other” represents $ million of income tax expense in the first nine months of 2019 and $ 6 million of income tax benefit in the third quarter of 2018. Through the first six months of 2018, Devon 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 realized a pre-tax gain of $ million of deferred tax benefit resulting from the release of the remainder of the full valuation allowance position was allocated entirely to discontinued operations. On June 27, 2019 , Devon completed the sale of substantially all of its Canadian oil and gas assets and operations in Canada. Devon’s foreign earnings have not been considered indefinitely reinvested since the announcement of the plan to separate the assets in the first quarter of 2019. As the separation took the form of an asset sale and Devon has retained certain non-operating obligations to be settled over time, Devon has not recorded a deferred tax asset or corresponding valuation allowance related to its Canadian investment. As the Canadian sale closed during the second quarter of 2019, Devon has recorded materially all tax impacts related to the Canadian business in discontinued operations. Additional information on these discontinued operations can be found in Note 18 .

Net Earnings (Loss) Per Share f

Net Earnings (Loss) Per Share from Continuing Operations	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Earnings (Loss) Per Share from Continuing Operations	8 . Net Earnings (Loss) Per Share from Continuing Operations The following table reconciles net earnings (loss) from continuing operations and weighted-average common shares outstanding used in the calculations of basic and diluted net earnings (loss) per share from continuing operations. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net earnings (loss) from continuing operations: Net earnings (loss) from continuing operations $ 139 $ 156 $ (41 ) $ (548 ) Attributable to participating securities (1 ) (1 ) (1 ) (1 ) Basic and diluted earnings (loss) from continuing operations $ 138 $ 155 $ (42 ) $ (549 ) Common shares: Common shares outstanding - total 397 491 415 513 Attributable to participating securities (5 ) (5 ) (6 ) (6 ) Common shares outstanding - basic 392 486 409 507 Dilutive effect of potential common shares issuable 2 3 — — Common shares outstanding - diluted 394 489 409 507 Net earnings (loss) per share from continuing operations: Basic $ 0.35 $ 0.32 $ (0.10 ) $ (1.08 ) Diluted $ 0.35 $ 0.32 $ (0.10 ) $ (1.08 ) Antidilutive options (1) 1 2 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 (L

Other Comprehensive Earnings (Loss)	9 Months Ended
	Sep. 30, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Other Comprehensive Earnings (Loss)	9 . Other Comprehensive Earnings (Loss) Components of other comprehensive earnings consist of the following: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Foreign currency translation: Beginning accumulated foreign currency translation and other $ — $ 1,227 $ 1,159 $ 1,309 Change in cumulative translation adjustment — 35 78 (61 ) Release of Canadian cumulative translation adjustment (1) — — (1,237 ) — Income tax benefit — — — 14 Ending accumulated foreign currency translation — 1,262 — 1,262 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (117 ) (136 ) (132 ) (143 ) Recognition of net actuarial loss and prior service cost in earnings (2) 1 2 5 9 Curtailment and settlement of pension benefits (3) — 45 15 45 Income tax expense — (11 ) (4 ) (11 ) Ending accumulated pension and postretirement benefits (116 ) (100 ) (116 ) (100 ) Other — 2 — 2 Accumulated other comprehensive earnings (loss), net of tax $ (116 ) $ 1,164 $ (116 ) $ 1,164 (1) In conjunction with the sale of substantially all of its Canadian oil and gas assets and operations in Canada, Devon released the cumulative translation adjustment as part of its gain on the disposition of its Canadian business. See Note 18 ( 2 ) 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 16 (3) These accumulated other comprehensive earnings are included within components of other expenses and restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings.

Supplemental Information To Sta

Supplemental Information To Statements Of Cash Flows	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Changes in assets and liabilities, net: Accounts receivable $ 54 $ (93 ) $ 85 $ (255 ) Other current assets 2 4 9 (91 ) Other long-term assets 14 3 (1 ) (63 ) Accounts payable 3 3 (18 ) 96 Revenues and royalties payable (73 ) (5 ) (133 ) 205 Other current liabilities 13 33 (77 ) 128 Other long-term liabilities — (26 ) 5 (30 ) Total $ 13 $ (81 ) $ (130 ) $ (10 ) Supplementary cash flow data - total operations: Interest paid (net of capitalized interest) $ 81 $ 61 $ 242 $ 275 Income taxes paid $ — $ 37 $ 16 $ 31

Accounts Receivable

Accounts Receivable	9 Months Ended
	Sep. 30, 2019
Accounts Receivable Net [Abstract]
Accounts Receivable	1 1 . Accounts Receivable Components of accounts receivable include the following: September 30, 2019 December 31, 2018 Oil, gas and NGL sales $ 396 $ 413 Joint interest billings 161 150 Marketing revenues 208 284 Other 28 15 Gross accounts receivable 793 862 Allowance for doubtful accounts (6 ) (7 ) Net accounts receivable $ 787 $ 855

Property, Plant and Equipment

Property, Plant and Equipment	9 Months Ended
	Sep. 30, 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. September 30, 2019 December 31, 2018 Property and equipment: Proved $ 41,681 $ 40,378 Unproved and properties under development 752 833 Total oil and gas 42,433 41,211 Less accumulated DD&A (33,311 ) (32,229 ) Oil and gas property and equipment, net 9,122 8,982 Other property and equipment 1,754 1,707 Less accumulated DD&A (699 ) (663 ) Other property and equipment, net 1,055 1,044 Property and equipment, net $ 10,177 $ 10,026

Debt And Related Expenses

Debt And Related Expenses	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt and Related Expenses	1 3 . Debt and Related Expenses A summary of debt is as follows: September 30, 2019 December 31, 2018 6.30% due January 15, 2019 $ — $ 162 5.85% due December 15, 2025 485 485 7.50% due September 15, 2027 73 73 7.875% due September 30, 2031 (1) 675 675 7.95% due April 15, 2032 (1) 366 366 5.60% due July 15, 2041 1,250 1,250 4.75% due May 15, 2042 750 750 5.00% due June 15, 2045 750 750 Net discount on debentures and notes (20 ) (21 ) Debt issuance costs (34 ) (36 ) Total debt 4,295 4,454 Less amount classified as short-term debt — 162 Total long-term debt (2) $ 4,295 $ 4,292 (1) These senior notes were included in the 2018 tender offer repurchases discussed below. (2) The balance as of December 31, 2018 excludes the $1.5 billion of Senior Notes classified as liabilities held for sale that were retired early in July 2019 utilizing a portion of the proceeds from the sale of Devon’s Canadian business. See Note 18 Credit Lines Devon has a $3.0 billion Senior Credit Facility. As of September 30, 2019, Devon had no outstanding borrowings under the Senior Credit Facility and had issued $2 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 September 30, 2019, Devon was in compliance with this covenant with a debt-to-capitalization ratio of 18.9%. In connection with the closing of the sale of its Canadian business, Devon reallocated and terminated all Canadian commitments under the Senior Credit Facility in accordance with the terms of the credit agreement governing the Senior Credit Facility. The termination of the Canadian subfacility was effective as of June 27, 2019, and such termination did not decrease the $3.0 billion in total revolving commitments under, or otherwise modify the terms of, the Senior Credit Facility. 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 charge 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. In July 2018, Devon repaid $20 million of 8.25% senior notes at maturity. Net Financing Costs The following schedule includes the components of net financing costs. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Interest based on debt outstanding $ 65 $ 68 $ 195 $ 219 Early retirement of debt — — — 312 Other (5 ) — (9 ) (10 ) Total net financing costs $ 60 $ 68 $ 186 $ 521

Leases

Leases	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Leases	14. 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 mad e in determining discount rates. Devon estimates discount rates using market rates that approximate collateralized borrowing s 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 September 30, 2019. Finance Operating Total Right-of-use assets $ 203 $ 16 $ 219 Lease liabilities: Current lease liabilities (1) $ 7 $ 12 $ 19 Long-term lease liabilities 240 4 244 Total lease liabilities $ 247 $ 16 $ 263 (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 Nine Months Ended September 30, 2019 Operating lease cost Property, plant and equipment; G&A $ 10 $ 35 Short-term lease cost (1) Property, plant and equipment; G&A 18 69 Financing lease cost: Amortization of right-of-use assets DD&A 6 18 Interest on lease liabilities Net financing costs 3 8 Variable lease cost G&A 1 2 Lease income G&A (1 ) (3 ) Net lease cost $ 37 $ 129 (1) Short-term lease cost excludes leases with terms of one month or less. The following table presents Devon’s additional lease information for the three and nine months ended September 30, 2019. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Finance Operating Finance Operating Cash outflows for lease liabilities: Operating cash flows $ 2 $ — $ 5 $ 1 Investing cash flows $ — $ 10 $ — $ 37 Right-of-use assets obtained in exchange for new lease liabilities $ — $ — $ — $ 1 Weighted average remaining lease term (years) 8.3 2.3 8.3 2.3 Weighted average discount rate 4.2 % 3.4 % 4.2 % 3.4 % The following table presents Devon’s maturity analysis as of September 30, 2019 for leases expiring in each of the next 5 years and thereafter. Finance Operating (1) Total (2) 2019 $ 2 $ 4 $ 6 2020 7 8 15 2021 7 2 9 2022 8 1 9 2023 8 1 9 Thereafter 306 1 307 Total lease payments 338 17 355 Less: interest (91 ) (1 ) (92 ) Present value of lease liabilities $ 247 $ 16 $ 263 (1) During the third quarter of 2019, in addition to normal amortization, Devon had early terminations that resulted in a $37 million reduction in right of use assets and lease liabilities which includes $9 million of other expenses within Devon’s consolidated comprehensive statements of earnings. (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 $61 million for 2019, $48 million for 2020, $18 million for 2021, $9 million for 2022, $8 million for 2023 and $33 million thereafter. Devon rents or subleases certain real estate to third parties. The following table presents Devon’s expected lease income as of September 30, 2019 for each of the next 5 years and thereafter. Operating Lease Income 2019 $ 2 2020 6 2021 6 2022 6 2023 7 Thereafter 51 Total $ 78

Asset Retirement Obligations

Asset Retirement Obligations	9 Months Ended
	Sep. 30, 2019
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligations	1 5 . Asset Retirement Obligations The following table presents the changes in Devon’s asset retirement obligations. Nine Months Ended September 30, 2019 2018 Asset retirement obligations as of beginning of period $ 623 $ 704 Liabilities incurred 14 24 Liabilities settled and divested (51 ) (71 ) Revision of estimated obligation (63 ) 1 Accretion expense on discounted obligation 21 26 Asset retirement obligations as of end of period 544 684 Less current portion 18 20 Asset retirement obligations, long-term $ 526 $ 664 During the first nine months of 2019, Devon reduced its asset retirement obligations by $63 million, primarily due to changes in the future cost estimates and retirement dates for its oil and gas assets. During the first nine months of 2018, Devon reduced its asset retirement obligations by $ 61 million , primarily as a result of Devon’s 2018 divestitures. For additional information, see Note 2 .

Retirement Plans

Retirement Plans	9 Months Ended
	Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Retirement Plans	1 6 . Retirement Plans During the third quarter of 2018, Devon entered into a group annuity contract, under which a third party permanently assumed certain of Devon’s defined benefit pension obligations. The purchase of this group annuity contract reduced Devon’s pension assets and liabilities by approximately $ 190 15 34 The following table presents the components of net periodic benefit cost for Devon’s pension benefits plan. There was $1 Pension Benefits Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 2 $ 2 $ 5 $ 7 Interest cost 7 9 24 29 Expected return on plan assets (10 ) (11 ) (29 ) (38 ) Amortization of prior service cost (1) — — 1 1 Net actuarial loss (1) 1 3 7 10 Net periodic benefit cost (2) $ — $ 3 $ 8 $ 9 (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	9 Months Ended
	Sep. 30, 2019
Stockholders Equity Note [Abstract]
Stockholders' Equity	1 7 . Stockholders’ Equity Share Repurchase Program In March 2018, Devon announced a share repurchase program to buy up to $1.0 billion of its 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 nine 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 Second quarter 2019: Open-Market 5,911 159 27.01 Third quarter 2019: Open-Market 22,137 550 24.80 Total inception-to-date 142,338 $ 4,711 $ 33.09 Dividends The table below summarizes the dividends Devon paid on its common stock. Amounts Rate Per Share Quarter Ended 2019: First quarter $ 34 $ 0.08 Second quarter 37 $ 0.09 Third quarter 35 $ 0.09 Total year-to-date $ 106 Quarter Ended 2018: First quarter $ 32 $ 0.06 Second quarter 42 $ 0.08 Third quarter 38 $ 0.08 Total year-to-date $ 112 Devon raised its quarterly dividend by 12.5%, 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	9 Months Ended
	Sep. 30, 2019
Discontinued Operations And Disposal Groups [Abstract]
Discontinued Operations and Assets Held for Sale	18 . Discontinued Operations and Assets Held For Sale Canada On May 29, 2019, Devon announced it had entered into an agreement to sell substantially all of its oil and gas assets and operations in Canada to Canadian Natural Resources Limited. Devon concluded that the transaction was a strategic shift and met the requirements of assets held for sale and discontinued operations upon the authorization to enter the agreement by Devon’s Board of Directors. As part of its assessment, Devon considered the following: 1) Devon is exiting its entire heavy oil and Canadian operations; 2) Devon’s Canadian operations is a separate reportable segment and is a component of Devon’s business; and 3) the transaction resulted in a material reduction in total assets, revenues, net earnings and total proved reserves. As a result, Devon has classified the results of operations and cash flows related to its Canadian operations as discontinued operations on its consolidated financial statements. Additionally, Devon ceased depreciation and amortization for all plant, property and equipment and intangible assets classified as assets held for sale on the date the sales agreement was approved by the Board of Directors. On June 27, 2019 , Devon completed the sale of its Canadian business for $ 2.6 billion ($ 3.4 billion Canadian dollars), net of purchase price adjustments, and recognized a pre-tax gain of $ 223 million ($ million net of tax, primarily due to a significant deferred tax benefit ) . Included within this gain is a $ 34 million ($ 20 million, net of tax) adjustment to the gain in the third quarter of 2019 related to an interim post closing settlement with Canadian Natural Resources Limited with final closing expected in the fourth quarter of 2019. Current (cash) income tax associated with the sale was approximately $ million. The disposition of substantially all of Devon’s Canadian oil and gas assets resulted in Devon releasing its historical cumulative foreign currency translation adjustment of $ 1.2 billion from accumulated other comprehensive earnings to be included within the gain computation . The historical cumulative foreign currency translation portion of the gain is not taxable. As of September 30, 2019, $ million of the Canadian cash balance is restricted for funding certain tax and other obligations related to the Canadian business and is classified as cash restricted for discontinued operations on the consolidated balance sheets. In conjunction with the sale of Devon’s Canadian business, Devon recognized approximately $280 million of restructuring and asset impairment related charges. Canadian Natural Resources Limited has reimbursed Devon for approximately $50 million of these restructuring costs, under the terms of the disposition agreement. Along with certain tax obligations, these costs will be funded with the restricted cash described above. These charges consist of $154 million related to a firm transportation agreement abandonment and $56 million related to office lease abandonment and associated asset impairment charges. Cash payments for the abandonment charges total approximately $6 million per quarter. Additionally, there are $67 million of employee related costs, including approximately $40 million of noncash accelerated vesting of employee stock awards. As mentioned above, Canadian Natural Resources Limited reimbursed the Company for approximately $50 million of these costs pursuant to the disposition agreement and Devon funded the remaining employee related costs during the third quarter of 2019. Prior to the second quarter of 2019, Devon’s Canadian business maintained a valuation allowance against certain capital loss carryforwards and net operating losses. As a result of the sale of substantially all of Devon’s Canadian oil and gas assets and operations in Canada and the lack of future forecasted income, all but approximately $29 million of the Canadian deferred tax assets have been offset with a valuation allowance. As announced on June 27, 2019, Devon utilized a portion of the sales proceeds to early retire its $500 million of the 4.00% senior notes due July 15, 2021 and $1.0 billion of the 3.25% senior notes due May 15, 2022. Devon recognized a charge on the early retirement of these notes in the third quarter of 2019 consisting of $52 million in cash retirement costs and $6 million of noncash charges. EnLink 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. 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. During the first nine months of 2019 and from the period of July 19, 2018 through September 30, 2018, Devon had net outflows of approximately $422 million and $200 million with EnLink, respectively, which primarily related to gathering and processing expenses. These net outflows represent gross cash amounts and not net working interest amounts. The following table presents the amounts reported in the consolidated comprehensive statements of earnings as discontinued operations. Three months ended September 30, Nine months ended September 30, Canada EnLink Total Canada EnLink Total 2019 Upstream revenues $ (7 ) $ — $ (7 ) $ 628 $ — $ 628 Marketing and midstream revenues — — — 38 — 38 Total revenues (7 ) — (7 ) 666 — 666 Production expenses (1 ) — (1 ) 293 — 293 Exploration expenses — — — 13 — 13 Marketing and midstream expenses — — — 18 — 18 Depreciation, depletion and amortization — — — 128 — 128 Asset impairments — — — 37 — 37 Asset dispositions (34 ) — (34 ) (223 ) — (223 ) General and administrative expenses 2 — 2 33 — 33 Financing costs, net 59 — 59 85 — 85 Restructuring and transaction costs 5 — 5 244 — 244 Other expenses 5 — 5 8 — 8 Total expenses 36 — 36 636 — 636 Earnings (loss) from discontinued operations before income taxes (43 ) — (43 ) 30 — 30 Income tax benefit (13 ) — (13 ) (298 ) — (298 ) Net earnings (loss) from discontinued operations, net of tax $ (30 ) $ — $ (30 ) $ 328 $ — $ 328 2018 Upstream revenues $ 398 $ — $ 398 $ 1,003 $ — $ 1,003 Marketing and midstream revenues 25 360 385 66 3,567 3,633 Total revenues 423 360 783 1,069 3,567 4,636 Production expenses 137 — 137 451 — 451 Exploration expenses 10 — 10 28 — 28 Marketing and midstream expenses 16 302 318 34 2,912 2,946 Depreciation, depletion and amortization 74 — 74 246 244 490 Asset impairments — — — — — — Asset dispositions — (2,607 ) (2,607 ) — (2,607 ) (2,607 ) General and administrative expenses 19 7 26 61 65 126 Financing costs, net 7 9 16 3 98 101 Restructuring and transaction costs 4 — 4 13 — 13 Other expenses (21 ) (1 ) (22 ) 88 (8 ) 80 Total expenses 246 (2,290 ) (2,044 ) 924 704 1,628 Earnings from discontinued operations before income taxes 177 2,650 2,827 145 2,863 3,008 Income tax expense (benefit) 33 387 420 (18 ) 403 385 Net earnings from discontinued operations, net of tax 144 2,263 2,407 163 2,460 2,623 Net earnings attributable to noncontrolling interests — 26 26 — 160 160 Net earnings from discontinued operations, attributable to Devon $ 144 $ 2,237 $ 2,381 $ 163 $ 2,300 $ 2,463 The following table presents the carrying amounts of the assets and liabilities associated with discontinued operations on the consolidated balance sheets. The assets and liabilities associated with discontinued operations at September 30, 2019 and December 31, 2018 are primarily related to the divestiture of Devon’s Canadian business. Included within assets and liabilities associated with discontinued operations at December 31, 2018 are $197 million of assets and $69 million of liabilities related to the divestiture of non-core upstream Permian Basin assets which closed in January 2019 as further discussed in Note 2 September 30, 2019 December 31, 2018 Cash restricted for discontinued operations $ 280 $ — Accounts receivable $ 3 $ 37 Other current assets 18 246 Current assets associated with discontinued operations 21 283 Oil and gas property and equipment, based on successful efforts accounting, net — 3,829 Other property and equipment, net — 78 Other long-term assets 95 79 Long-term assets associated with discontinued operations 95 3,986 Total assets associated with discontinued operations $ 396 $ 4,269 Accounts payable $ 6 $ 101 Revenues and royalties payable 3 67 Other current liabilities 163 170 Current liabilities associated with discontinued operations 172 338 Long-term debt — 1,493 Asset retirement obligations — 424 Other long-term liabilities 175 20 Deferred income taxes — 348 Long-term liabilities associated with discontinued operations 175 2,285 Total liabilities associated with discontinued operations $ 347 $ 2,623

Commitments And Contingencies

Commitments And Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments And Contingencies Disclosure [Abstract]
Commitments And Contingencies	19 . Commitments and Contingencies Devon is party to various legal actions arising in the normal course of business. Matters that are probable of an 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	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	2 0 . 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, cash restricted for discontinued operations, 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 September 30, 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 September 30, 2019 assets (liabilities): Cash equivalents $ 624 $ 624 $ 624 $ — Commodity derivatives $ 178 $ 178 $ — $ 178 Commodity derivatives $ (2 ) $ (2 ) $ — $ (2 ) Debt $ (4,295 ) $ (5,392 ) $ — $ (5,392 ) December 31, 2018 assets (liabilities): Cash equivalents $ 1,505 $ 1,505 $ 1,405 $ 100 Commodity derivatives $ 674 $ 674 $ — $ 674 Commodity derivatives $ (33 ) $ (33 ) $ — $ (33 ) Debt $ (4,454 ) $ (4,494 ) $ — $ (4,494 ) 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 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.

Summary Of Significant Accoun_2

Summary Of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Segment Information	Segment Information Subsequent to the sale of Devon’s Canadian business in 2019 discussed in Note 18 , Devon’s oil and gas exploration and production activities are solely focused in the U.S. For financial reporting purposes, Devon aggregates its U.S. operating segments into one reporting segment due to the similar nature of its business. With the reclassification of Devon’s Canadian operations to discontinued operations and assets and liabilities associated with discontinued operations, Devon now has one reporting segment, which is reflected in the consolidated financial statements.
Recent Accounting Standards	Recently Adopted Accounting Standards In January 2019, Devon adopted ASU 2016-02, Leases (Topic 842) Note 14 The SEC released Final Rule No. 33-10532, Disclosure Update and Simplification , which amends various SEC disclosure requirements determined to be redundant, duplicative, overlapping, outdated or superseded as part of the SEC’s ongoing disclosure effectiveness initiative. The rule was effective November 5, 2018. The rule amended numerous SEC rules, items and forms covering a diverse group of topics. Devon has implemented these required changes which generally reduced or eliminated disclosures. Devon adopted the requirement of presenting curr ent and comparative quarterly stockholders’ equity roll forward s in the first quarter of 2019. The SEC released Final Rule Release No. 33-10618 , FAST Act Modernization and Simplification of Regulation S-K 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
Commitments And Contingencies	Devon is party to various legal actions arising in the normal course of business. Matters that are probable of an 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 .

Summary Of Significant Accoun_3

Summary Of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Oil $ 754 $ 794 $ 2,168 $ 2,279 Gas 144 210 524 672 NGL 122 306 447 742 Oil, gas and NGL revenues from contracts with customers 1,020 1,310 3,139 3,693 Oil, gas and NGL derivatives 127 (376 ) (338 ) (976 ) Upstream revenues 1,147 934 2,801 2,717 Oil 407 750 1,157 2,047 Gas 142 191 532 506 NGL 151 281 506 687 Total marketing revenues from contracts with customers 700 1,222 2,195 3,240 Total revenues $ 1,847 $ 2,156 $ 4,996 $ 5,957

Derivative Financial Instrume_2

Derivative Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Commodity derivatives: Upstream revenues $ 127 $ (376 ) $ (338 ) $ (976 ) Marketing revenues — — 1 (1 ) Interest rate derivatives: Other expenses — — — 65 Net gains (losses) recognized $ 127 $ (376 ) $ (337 ) $ (912 ) The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption. September 30, 2019 December 31, 2018 Commodity derivative assets: Other current assets $ 163 $ 634 Other long-term assets 15 40 Total derivative assets $ 178 $ 674 Commodity derivative liabilities: Other current liabilities $ 2 $ 32 Other long-term liabilities — 1 Total derivative liabilities $ 2 $ 33
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) Q4 2019 35,600 $ 61.21 79,500 $ 54.06 $ 64.13 Q1-Q4 2020 7,238 $ 57.29 31,932 $ 51.85 $ 61.93 Q1-Q4 2021 493 $ 52.75 1,479 $ 48.48 $ 58.48 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) Q4 2019 5,000 $ 50.00 $ 63.00 $ 74.80 Oil Basis Swaps Period Index Volume (Bbls/d) Weighted Average Differential to WTI ($/Bbl) Q4 2019 Midland Sweet 28,000 $ (0.46 ) Q4 2019 Argus LLS 7,500 $ 5.18 Q4 2019 Argus MEH 26,000 $ 3.33 Q4 2019 NYMEX Roll 38,000 $ 0.45 Q1-Q4 2020 Argus MEH 9,000 $ 3.44 Q1-Q4 2020 NYMEX Roll 44,000 $ 0.34
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) Q4 2019 243,300 $ 2.80 195,000 $ 2.64 $ 3.03 Q1-Q4 2020 81,409 $ 2.77 42,557 $ 2.73 $ 3.03 Natural Gas Basis Swaps Period Index Volume (MMBtu/d) Weighted Average Differential to Henry Hub ($/MMBtu) Q4 2019 Panhandle Eastern Pipe Line 20,000 $ (0.56 ) Q4 2019 El Paso Natural Gas 130,000 $ (1.46 ) 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 45,000 $ (0.70 ) 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) Q4 2019 Ethane 1,000 $ 11.55 Q4 2019 Natural Gasoline 4,500 $ 55.93 Q4 2019 Normal Butane 4,000 $ 33.69 Q4 2019 Propane 8,500 $ 30.01 Q1-Q4 2020 Natural Gasoline 1,000 $ 44.84 Q1-Q4 2020 Normal Butane 1,000 $ 23.52 Q1-Q4 2020 Propane 4,500 $ 25.18

Share-Based Compensation (Table

Share-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]
Schedule Of Share-Based Compensation Expense Included In The Consolidated Comprehensive Statements Of Earnings	Nine Months Ended September 30, 2019 2018 G&A $ 64 $ 82 Exploration expenses 1 2 Restructuring and transaction costs 27 28 Total $ 92 $ 112 Related income tax benefit $ 13 $ 16
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 4,404 $ 25.49 — $ — 741 $ 28.97 Vested (4,402 ) $ 33.62 (149 ) $ 38.03 (145 ) $ 37.23 Forfeited (700 ) $ 27.44 — $ — (1,301 ) $ 11.80 Unvested at 9/30/19 5,265 $ 29.73 153 $ 33.88 2,163 (1 ) $ 40.31 (1) A maximum of 4.3 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 $ 97 $ — $ 18 Weighted average period for recognition (years) 2.6 1.7 1.5

Restructuring and Transaction_2

Restructuring and Transaction Costs (Tables)	9 Months Ended
	Sep. 30, 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 $ 39 $ 3 $ 42 Changes related to 2019 workforce reductions 22 — 22 Changes related to prior years' restructurings (31 ) (2 ) (33 ) Balance as of September 30, 2019 $ 30 $ 1 $ 31 Balance as of December 31, 2017 $ 17 $ 17 $ 34 Changes related to prior years' restructurings 32 (11 ) 21 Balance as of September 30, 2018 $ 49 $ 6 $ 55

Income Taxes (Tables)

Income Taxes (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Earnings (loss) from continuing operations before income taxes $ 194 $ (15 ) $ (25 ) $ (709 ) Current income tax expense (benefit) $ 2 $ (26 ) $ 1 $ (12 ) Deferred income tax expense (benefit) 53 (145 ) 15 (149 ) Total income tax expense (benefit) $ 55 $ (171 ) $ 16 $ (161 ) U.S. statutory income tax rate 21 % 21 % 21 % 21 % State income taxes 6 % 47 % (8 %) 0 % Change in unrecognized tax benefits 0 % 151 % (6 %) 3 % Other 1 % 43 % (70 %) (1 %) Deferred tax asset valuation allowance 0 % 897 % 0 % 0 % Effective income tax rate 28 % 1,159 % (63 %) 23 %

Net Earnings (Loss) Per Share_2

Net Earnings (Loss) Per Share from Continuing Operations (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Net Earnings (Loss) Per Share Computations from Continuing Operations	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net earnings (loss) from continuing operations: Net earnings (loss) from continuing operations $ 139 $ 156 $ (41 ) $ (548 ) Attributable to participating securities (1 ) (1 ) (1 ) (1 ) Basic and diluted earnings (loss) from continuing operations $ 138 $ 155 $ (42 ) $ (549 ) Common shares: Common shares outstanding - total 397 491 415 513 Attributable to participating securities (5 ) (5 ) (6 ) (6 ) Common shares outstanding - basic 392 486 409 507 Dilutive effect of potential common shares issuable 2 3 — — Common shares outstanding - diluted 394 489 409 507 Net earnings (loss) per share from continuing operations: Basic $ 0.35 $ 0.32 $ (0.10 ) $ (1.08 ) Diluted $ 0.35 $ 0.32 $ (0.10 ) $ (1.08 ) Antidilutive options (1) 1 2 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 _2

Other Comprehensive Earnings (Loss) (Tables)	9 Months Ended
	Sep. 30, 2019
Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]
Components Of Other Comprehensive Earnings (Loss)	Components of other comprehensive earnings consist of the following: Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Foreign currency translation: Beginning accumulated foreign currency translation and other $ — $ 1,227 $ 1,159 $ 1,309 Change in cumulative translation adjustment — 35 78 (61 ) Release of Canadian cumulative translation adjustment (1) — — (1,237 ) — Income tax benefit — — — 14 Ending accumulated foreign currency translation — 1,262 — 1,262 Pension and postretirement benefit plans: Beginning accumulated pension and postretirement benefits (117 ) (136 ) (132 ) (143 ) Recognition of net actuarial loss and prior service cost in earnings (2) 1 2 5 9 Curtailment and settlement of pension benefits (3) — 45 15 45 Income tax expense — (11 ) (4 ) (11 ) Ending accumulated pension and postretirement benefits (116 ) (100 ) (116 ) (100 ) Other — 2 — 2 Accumulated other comprehensive earnings (loss), net of tax $ (116 ) $ 1,164 $ (116 ) $ 1,164 (1) In conjunction with the sale of substantially all of its Canadian oil and gas assets and operations in Canada, Devon released the cumulative translation adjustment as part of its gain on the disposition of its Canadian business. See Note 18 ( 2 ) 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 16 (3) These accumulated other comprehensive earnings are included within components of other expenses and restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings.

Supplemental Information To S_2

Supplemental Information To Statements Of Cash Flows (Tables)	9 Months Ended
	Sep. 30, 2019
Supplemental Cash Flow Elements [Abstract]
Schedule Of Supplemental Information To Statements Of Cash Flows	Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Changes in assets and liabilities, net: Accounts receivable $ 54 $ (93 ) $ 85 $ (255 ) Other current assets 2 4 9 (91 ) Other long-term assets 14 3 (1 ) (63 ) Accounts payable 3 3 (18 ) 96 Revenues and royalties payable (73 ) (5 ) (133 ) 205 Other current liabilities 13 33 (77 ) 128 Other long-term liabilities — (26 ) 5 (30 ) Total $ 13 $ (81 ) $ (130 ) $ (10 ) Supplementary cash flow data - total operations: Interest paid (net of capitalized interest) $ 81 $ 61 $ 242 $ 275 Income taxes paid $ — $ 37 $ 16 $ 31

Accounts Receivable (Tables)

Accounts Receivable (Tables)	9 Months Ended
	Sep. 30, 2019
Accounts Receivable Net [Abstract]
Schedule Of Components Of Accounts Receivable	Components of accounts receivable include the following: September 30, 2019 December 31, 2018 Oil, gas and NGL sales $ 396 $ 413 Joint interest billings 161 150 Marketing revenues 208 284 Other 28 15 Gross accounts receivable 793 862 Allowance for doubtful accounts (6 ) (7 ) Net accounts receivable $ 787 $ 855

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	9 Months Ended
	Sep. 30, 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. September 30, 2019 December 31, 2018 Property and equipment: Proved $ 41,681 $ 40,378 Unproved and properties under development 752 833 Total oil and gas 42,433 41,211 Less accumulated DD&A (33,311 ) (32,229 ) Oil and gas property and equipment, net 9,122 8,982 Other property and equipment 1,754 1,707 Less accumulated DD&A (699 ) (663 ) Other property and equipment, net 1,055 1,044 Property and equipment, net $ 10,177 $ 10,026

Debt And Related Expenses (Tabl

Debt And Related Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule Of Debt Instruments and Balances	A summary of debt is as follows: September 30, 2019 December 31, 2018 6.30% due January 15, 2019 $ — $ 162 5.85% due December 15, 2025 485 485 7.50% due September 15, 2027 73 73 7.875% due September 30, 2031 (1) 675 675 7.95% due April 15, 2032 (1) 366 366 5.60% due July 15, 2041 1,250 1,250 4.75% due May 15, 2042 750 750 5.00% due June 15, 2045 750 750 Net discount on debentures and notes (20 ) (21 ) Debt issuance costs (34 ) (36 ) Total debt 4,295 4,454 Less amount classified as short-term debt — 162 Total long-term debt (2) $ 4,295 $ 4,292 (1) These senior notes were included in the 2018 tender offer repurchases discussed below. (2) The balance as of December 31, 2018 excludes the $1.5 billion of Senior Notes classified as liabilities held for sale that were retired early in July 2019 utilizing a portion of the proceeds from the sale of Devon’s Canadian business. See Note 18
Schedule Of Net Financing Cost Components	The following schedule includes the components of net financing costs. Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Interest based on debt outstanding $ 65 $ 68 $ 195 $ 219 Early retirement of debt — — — 312 Other (5 ) — (9 ) (10 ) Total net financing costs $ 60 $ 68 $ 186 $ 521

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2019. Finance Operating Total Right-of-use assets $ 203 $ 16 $ 219 Lease liabilities: Current lease liabilities (1) $ 7 $ 12 $ 19 Long-term lease liabilities 240 4 244 Total lease liabilities $ 247 $ 16 $ 263 (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 Nine Months Ended September 30, 2019 Operating lease cost Property, plant and equipment; G&A $ 10 $ 35 Short-term lease cost (1) Property, plant and equipment; G&A 18 69 Financing lease cost: Amortization of right-of-use assets DD&A 6 18 Interest on lease liabilities Net financing costs 3 8 Variable lease cost G&A 1 2 Lease income G&A (1 ) (3 ) Net lease cost $ 37 $ 129 (1) Short-term lease cost excludes leases with terms of one month or less.
Schedule of Additional Lease Information	The following table presents Devon’s additional lease information for the three and nine months ended September 30, 2019. Three Months Ended Nine Months Ended September 30, 2019 September 30, 2019 Finance Operating Finance Operating Cash outflows for lease liabilities: Operating cash flows $ 2 $ — $ 5 $ 1 Investing cash flows $ — $ 10 $ — $ 37 Right-of-use assets obtained in exchange for new lease liabilities $ — $ — $ — $ 1 Weighted average remaining lease term (years) 8.3 2.3 8.3 2.3 Weighted average discount rate 4.2 % 3.4 % 4.2 % 3.4 %
Maturities of Lease Liabilities	The following table presents Devon’s maturity analysis as of September 30, 2019 for leases expiring in each of the next 5 years and thereafter. Finance Operating (1) Total (2) 2019 $ 2 $ 4 $ 6 2020 7 8 15 2021 7 2 9 2022 8 1 9 2023 8 1 9 Thereafter 306 1 307 Total lease payments 338 17 355 Less: interest (91 ) (1 ) (92 ) Present value of lease liabilities $ 247 $ 16 $ 263 (1) During the third quarter of 2019, in addition to normal amortization, Devon had early terminations that resulted in a $37 million reduction in right of use assets and lease liabilities which includes $9 million of other expenses within Devon’s consolidated comprehensive statements of earnings. (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 $61 million for 2019, $48 million for 2020, $18 million for 2021, $9 million for 2022, $8 million for 2023 and $33 million thereafter.
Schedule of Expected Lease Income	The following table presents Devon’s expected lease income as of September 30, 2019 for each of the next 5 years and thereafter. Operating Lease Income 2019 $ 2 2020 6 2021 6 2022 6 2023 7 Thereafter 51 Total $ 78

Asset Retirement Obligations (T

Asset Retirement Obligations (Tables)	9 Months Ended
	Sep. 30, 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. Nine Months Ended September 30, 2019 2018 Asset retirement obligations as of beginning of period $ 623 $ 704 Liabilities incurred 14 24 Liabilities settled and divested (51 ) (71 ) Revision of estimated obligation (63 ) 1 Accretion expense on discounted obligation 21 26 Asset retirement obligations as of end of period 544 684 Less current portion 18 20 Asset retirement obligations, long-term $ 526 $ 664

Retirement Plans (Tables)

Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 2019
Compensation And Retirement Disclosure [Abstract]
Schedule Of Net Periodic Benefit Cost For Pension Benefits Plan	Pension Benefits Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Service cost $ 2 $ 2 $ 5 $ 7 Interest cost 7 9 24 29 Expected return on plan assets (10 ) (11 ) (29 ) (38 ) Amortization of prior service cost (1) — — 1 1 Net actuarial loss (1) 1 3 7 10 Net periodic benefit cost (2) $ — $ 3 $ 8 $ 9 (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)	9 Months Ended
	Sep. 30, 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 nine 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 Second quarter 2019: Open-Market 5,911 159 27.01 Third quarter 2019: Open-Market 22,137 550 24.80 Total inception-to-date 142,338 $ 4,711 $ 33.09
Summary Of Dividends Paid On Common Stock	The table below summarizes the dividends Devon paid on its common stock. Amounts Rate Per Share Quarter Ended 2019: First quarter $ 34 $ 0.08 Second quarter 37 $ 0.09 Third quarter 35 $ 0.09 Total year-to-date $ 106 Quarter Ended 2018: First quarter $ 32 $ 0.06 Second quarter 42 $ 0.08 Third quarter 38 $ 0.08 Total year-to-date $ 112

Discontinued Operations and A_2

Discontinued Operations and Assets Held for Sale (Tables)	9 Months Ended
	Sep. 30, 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 September 30, Nine months ended September 30, Canada EnLink Total Canada EnLink Total 2019 Upstream revenues $ (7 ) $ — $ (7 ) $ 628 $ — $ 628 Marketing and midstream revenues — — — 38 — 38 Total revenues (7 ) — (7 ) 666 — 666 Production expenses (1 ) — (1 ) 293 — 293 Exploration expenses — — — 13 — 13 Marketing and midstream expenses — — — 18 — 18 Depreciation, depletion and amortization — — — 128 — 128 Asset impairments — — — 37 — 37 Asset dispositions (34 ) — (34 ) (223 ) — (223 ) General and administrative expenses 2 — 2 33 — 33 Financing costs, net 59 — 59 85 — 85 Restructuring and transaction costs 5 — 5 244 — 244 Other expenses 5 — 5 8 — 8 Total expenses 36 — 36 636 — 636 Earnings (loss) from discontinued operations before income taxes (43 ) — (43 ) 30 — 30 Income tax benefit (13 ) — (13 ) (298 ) — (298 ) Net earnings (loss) from discontinued operations, net of tax $ (30 ) $ — $ (30 ) $ 328 $ — $ 328 2018 Upstream revenues $ 398 $ — $ 398 $ 1,003 $ — $ 1,003 Marketing and midstream revenues 25 360 385 66 3,567 3,633 Total revenues 423 360 783 1,069 3,567 4,636 Production expenses 137 — 137 451 — 451 Exploration expenses 10 — 10 28 — 28 Marketing and midstream expenses 16 302 318 34 2,912 2,946 Depreciation, depletion and amortization 74 — 74 246 244 490 Asset impairments — — — — — — Asset dispositions — (2,607 ) (2,607 ) — (2,607 ) (2,607 ) General and administrative expenses 19 7 26 61 65 126 Financing costs, net 7 9 16 3 98 101 Restructuring and transaction costs 4 — 4 13 — 13 Other expenses (21 ) (1 ) (22 ) 88 (8 ) 80 Total expenses 246 (2,290 ) (2,044 ) 924 704 1,628 Earnings from discontinued operations before income taxes 177 2,650 2,827 145 2,863 3,008 Income tax expense (benefit) 33 387 420 (18 ) 403 385 Net earnings from discontinued operations, net of tax 144 2,263 2,407 163 2,460 2,623 Net earnings attributable to noncontrolling interests — 26 26 — 160 160 Net earnings from discontinued operations, attributable to Devon $ 144 $ 2,237 $ 2,381 $ 163 $ 2,300 $ 2,463 The following table presents the carrying amounts of the assets and liabilities associated with discontinued operations on the consolidated balance sheets. The assets and liabilities associated with discontinued operations at September 30, 2019 and December 31, 2018 are primarily related to the divestiture of Devon’s Canadian business. Included within assets and liabilities associated with discontinued operations at December 31, 2018 are $197 million of assets and $69 million of liabilities related to the divestiture of non-core upstream Permian Basin assets which closed in January 2019 as further discussed in Note 2 September 30, 2019 December 31, 2018 Cash restricted for discontinued operations $ 280 $ — Accounts receivable $ 3 $ 37 Other current assets 18 246 Current assets associated with discontinued operations 21 283 Oil and gas property and equipment, based on successful efforts accounting, net — 3,829 Other property and equipment, net — 78 Other long-term assets 95 79 Long-term assets associated with discontinued operations 95 3,986 Total assets associated with discontinued operations $ 396 $ 4,269 Accounts payable $ 6 $ 101 Revenues and royalties payable 3 67 Other current liabilities 163 170 Current liabilities associated with discontinued operations 172 338 Long-term debt — 1,493 Asset retirement obligations — 424 Other long-term liabilities 175 20 Deferred income taxes — 348 Long-term liabilities associated with discontinued operations 175 2,285 Total liabilities associated with discontinued operations $ 347 $ 2,623

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2019 assets (liabilities): Cash equivalents $ 624 $ 624 $ 624 $ — Commodity derivatives $ 178 $ 178 $ — $ 178 Commodity derivatives $ (2 ) $ (2 ) $ — $ (2 ) Debt $ (4,295 ) $ (5,392 ) $ — $ (5,392 ) December 31, 2018 assets (liabilities): Cash equivalents $ 1,505 $ 1,505 $ 1,405 $ 100 Commodity derivatives $ 674 $ 674 $ — $ 674 Commodity derivatives $ (33 ) $ (33 ) $ — $ (33 ) Debt $ (4,454 ) $ (4,494 ) $ — $ (4,494 )

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Schedule of Revenue from Contracts with Customers Disaggregated Based on Type of Good) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	$ 700	$ 1,222	$ 2,195	$ 3,240
Oil, gas and NGL derivatives	127	(376)	(338)	(976)
Upstream revenues	1,147	934	2,801	2,717
Total revenues	1,847	2,156	4,996	5,957
Oil, Gas and NGL Sales [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,020	1,310	3,139	3,693
Oil, Gas and NGL Sales [Member] | Oil [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	754	794	2,168	2,279
Oil, Gas and NGL Sales [Member] | Gas [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	144	210	524	672
Oil, Gas and NGL Sales [Member] | NGL [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	122	306	447	742
Marketing Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	700	1,222	2,195	3,240
Marketing Revenues [Member] | Oil [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	407	750	1,157	2,047
Marketing Revenues [Member] | Gas [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	142	191	532	506
Marketing Revenues [Member] | NGL [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	$ 151	$ 281	$ 506	$ 687

Divestitures (Narrative) (Detai

Divestitures (Narrative) (Details) $ in Billions	Jun. 27, 2019USD ($)MMBoe	Jun. 27, 2019CAD ($)MMBoe	Sep. 30, 2019USD ($)	Mar. 31, 2019USD ($)MMBoe	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)
Business Acquisition [Line Items]
Gain recognized on sale of business, pre tax			$ 34,000,000		$ 2,607,000,000		$ 223,000,000	$ 2,607,000,000
Asset retirement obligations assumed by other party							51,000,000	71,000,000
Gain recognized			2,000,000		6,000,000		$ 47,000,000	$ (5,000,000)
Barnett Shale [Member]
Business Acquisition [Line Items]
Percentage of estimated U.S. total proved reserves associated with divestiture assets							46.00%
Net assets			1,400,000,000				$ 1,400,000,000
Permian Basin [Member] | Non Core Assets [Member]
Business Acquisition [Line Items]
Total estimated proved reserves | MMBoe				25
Divestitures of property and equipment				$ 300,000,000
Gain recognized				$ 44,000,000
Permian Basin [Member] | Non Core Assets [Member] | Maximum [Member]
Business Acquisition [Line Items]
Percentage of estimated U.S. total proved reserves associated with divestiture assets				2.00%
Barnett Shale Johnson County [Member]
Business Acquisition [Line Items]
Percentage of proved reserves associated with divestiture assets compared to total estimated proved reserves						10.00%
Divestitures of property and equipment						$ 553,000,000
Gain recognized						0
Settlement expenses relating to gas processing contracts						$ 40,000,000
Canadian​ Divestiture [Member]
Business Acquisition [Line Items]
Restructuring and asset impairment related charges							$ 280,000,000
Canadian Natural Resources Limited [Member] | Canadian Business Segment [Member]
Business Acquisition [Line Items]
Proceeds from sale of business	$ 2,600,000,000	$ 3.4
Effective close date of divestiture							Jun. 27, 2019
Gain recognized on sale of business, pre tax			34,000,000				$ 223,000,000
Gain recognized on sale of business, net of tax			$ 20,000,000				$ 480,000,000
Asset retirement obligations assumed by other party	$ 436,000,000
Total estimated proved reserves | MMBoe	400	400
Percentage of proved reserves associated with divestiture assets compared to total estimated proved reserves	21.00%	21.00%
EnLink and General Partner [Member]
Business Acquisition [Line Items]
Proceeds from sale of business					3,125,000,000
Effective close date of divestiture							Jul. 18, 2018
Gain recognized on sale of business, pre tax					2,600,000,000
Gain recognized on sale of business, net of tax					$ 2,200,000,000

Derivative Financial Instrume_3

Derivative Financial Instruments (Schedule Of Open Oil Derivative Positions) (Details)	9 Months Ended
	Sep. 30, 2019$ / bblbbl
NYMEX West Texas Intermediate Price Swaps Oil Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	35,600
Weighted Average Price Swap	61.21
NYMEX West Texas Intermediate Price Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	7,238
Weighted Average Price Swap	57.29
NYMEX West Texas Intermediate Price Swaps Oil Q1-Q4 2021 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	493
Weighted Average Price Swap	52.75
NYMEX West Texas Intermediate Price Collars Oil Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	79,500
Weighted Average Floor Price	54.06
Weighted Average Ceiling Price	64.13
NYMEX West Texas Intermediate Price Collars Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	31,932
Weighted Average Floor Price	51.85
Weighted Average Ceiling Price	61.93
NYMEX West Texas Intermediate Price Collars Oil Q1-Q4 2021 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	1,479
Weighted Average Floor Price	48.48
Weighted Average Ceiling Price	58.48
NYMEX West Texas Intermediate Three-Way Price Collars Oil 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 Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	28,000
Weighted Average Differential To WTI	(0.46)
Argus LLS Basis Swaps Oil Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	7,500
Weighted Average Differential To WTI	5.18
Argus MEH Basis Swaps Oil Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	26,000
Weighted Average Differential To WTI	3.33
NYMEX Roll Basis Swaps Oil Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	38,000
Weighted Average Differential To WTI	0.45
Argus MEH Basis Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	9,000
Weighted Average Differential To WTI	3.44
NYMEX Roll Basis Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	44,000
Weighted Average Differential To WTI	0.34

Derivative Financial Instrume_4

Derivative Financial Instruments (Schedule Of Open Natural Gas Derivative Positions) (Details)	9 Months Ended
	Sep. 30, 2019MMBTU$ / MMBTU
FERC Henry Hub Price Swaps Natural Gas Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	243,300
Weighted Average Price Swap	2.80
FERC Henry Hub Price Swaps Natural Gas Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	81,409
Weighted Average Price Swap	2.77
FERC Henry Hub Price Collars Natural Gas Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	195,000
Weighted Average Floor Price	2.64
Weighted Average Ceiling Price	3.03
FERC Henry Hub Price Collars Natural Gas Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	42,557
Weighted Average Floor Price	2.73
Weighted Average Ceiling Price	3.03
PEPL Basis Swaps Natural Gas Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) | MMBTU	20,000
Weighted Average Differential To Henry Hub	(0.56)
El Paso Natural Gas Basis Swaps 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 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	45,000
Weighted Average Differential To Henry Hub	(0.70)
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)	9 Months Ended
	Sep. 30, 2019$ / bblbbl
OPIS Mont Belvieu Texas Ethane Price Swaps NGL 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 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 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 Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	8,500
Weighted Average Price Swap | $ / bbl	30.01
OPIS Mont Belvieu Texas Natural Gasoline Price Swaps NGL Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	1,000
Weighted Average Price Swap | $ / bbl	44.84
OPIS Mont Belvieu Texas Normal Butane Price Swaps NGL Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	1,000
Weighted Average Price Swap | $ / bbl	23.52
OPIS Mont Belvieu Texas Propane Price Swaps NGL Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) | bbl	4,500
Weighted Average Price Swap | $ / bbl	25.18

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ 127	$ (376)	$ (337)	$ (912)
Commodity Derivatives [Member] | Upstream Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ 127	$ (376)	(338)	(976)
Commodity Derivatives [Member] | Marketing Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings			$ 1	(1)
Interest Rate Derivatives [Member] | Other Expenses [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings				$ 65

Derivative Financial Instrume_7

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Derivatives Fair Value [Line Items]
Fair value of derivative assets	$ 178	$ 674
Fair value of derivative liabilities	2	33
Commodity Derivatives [Member] | Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	163	634
Commodity Derivatives [Member] | Other Long-Term Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	15	40
Commodity Derivatives [Member] | Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	$ 2	32
Commodity Derivatives [Member] | Other Long-Term Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities		$ 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	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 92	$ 112
Related income tax benefit	13	16
G&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	64	82
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	$ 27	$ 28

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	9 Months Ended
	Sep. 30, 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	4,404
Vested, awards and units | shares	(4,402)
Forfeited, awards and units | shares	(700)
Unvested at September 30, 2019 | shares	5,265
Unvested weighted average grant-date fair value at December 31, 2018 | $ / shares	$ 35.47
Granted, weighted average grant-date fair value | $ / shares	25.49
Vested, weighted average grant-date fair value | $ / shares	33.62
Forfeited, weighted average grant-date fair value | $ / shares	27.44
Unvested weighted average grant-date fair value at September 30, 2019 | $ / shares	$ 29.73
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	(149)
Unvested at September 30, 2019 | shares	153
Unvested weighted average grant-date fair value at December 31, 2018 | $ / shares	$ 35.93
Vested, weighted average grant-date fair value | $ / shares	38.03
Unvested weighted average grant-date fair value at September 30, 2019 | $ / shares	$ 33.88
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
Vested, awards and units | shares	(145)
Forfeited, awards and units | shares	(1,301)
Unvested at September 30, 2019 | shares	2,163	[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
Vested, weighted average grant-date fair value | $ / shares	37.23
Forfeited, weighted average grant-date fair value | $ / shares	11.80
Unvested weighted average grant-date fair value at September 30, 2019 | $ / shares	$ 40.31
[1]	A maximum of 4.3 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	9 Months Ended
	Sep. 30, 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	4.3

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]	9 Months Ended
	Sep. 30, 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	9 Months Ended
	Sep. 30, 2019USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 97
Weighted average period for recognition (years)	2 years 7 months 6 days
Performance-Based Restricted Stock Awards [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Weighted average period for recognition (years)	1 year 8 months 12 days
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 18
Weighted average period for recognition (years)	1 year 6 months

Asset Impairments (Narrative) (

Asset Impairments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments	$ 2		$ 156
Proved Asset Impairments [Member]
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments			109
Non-oil and Gas Asset Impairments [Member]
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments			47
Unproved Impairments [Member]
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments		$ 15	$ 76

Restructuring and Transaction_3

Restructuring and Transaction Costs (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	$ 10	$ 6	$ 73	$ 91
Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs			73
Expense associated with accelerated awards			27	28
Reduction of workforce [Member] | Defined Benefit Settlements [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs			$ 5	15
Reduction of workforce [Member] | Employee Related Costs [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs				$ 91

Restructuring and Transaction_4

Restructuring and Transaction Costs (Schedule Of The Activity And Balances Associated With Restructuring Liabilities) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Restructuring Cost And Reserve [Line Items]
Beginning balance	$ 42	$ 34
Ending balance	31	55
Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	22
Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(33)	21
Other Current Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	39	17
Ending balance	30	49
Other Current Liabilities [Member] | Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	22
Other Current Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(31)	32
Other Long-Term Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	3	17
Ending balance	1	6
Other Long-Term Liabilities [Member] | Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	$ (2)	$ (11)

Income Taxes (Schedule Of Effec

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Earnings (loss) from continuing operations before income taxes	$ 194	$ (15)	$ (25)	$ (709)
Current income tax expense (benefit)	2	(26)	1	(12)
Deferred income tax expense (benefit)	53	(145)	15	(149)
Total income tax expense (benefit)	$ 55	$ (171)	$ 16	$ (161)
U.S. statutory income tax rate	21.00%	21.00%	21.00%	21.00%
State income taxes	6.00%	47.00%	(8.00%)	0.00%
Change in unrecognized tax benefits	0.00%	151.00%	(6.00%)	3.00%
Other	1.00%	43.00%	(70.00%)	(1.00%)
Deferred tax asset valuation allowance	0.00%	897.00%	0.00%	0.00%
Effective income tax rate	28.00%	1159.00%	(63.00%)	23.00%

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax [Line Items]
Unrecognized tax benefits realized as a result of lapse of certain U.S. federal statues		$ 22
Other income tax expense (benefit)		(6)		$ 18
Unrecognized tax benefits, interest as a result of lapse of certain U.S. federal statues		2
Valuation allowance against U.S. deferred tax assets, percent			100.00%
Gain on sale of aggregate ownership interests, before-tax	$ 34	2,607		$ 223	$ 2,607
Deferred tax benefit resulting from release of valuation allowance position; allocated to discontinued operations		259
EnLink and General Partner [Member]
Income Tax [Line Items]
Gain on sale of aggregate ownership interests, before-tax		$ 2,600

Net Earnings (Loss) Per Share_3

Net Earnings (Loss) Per Share from Continuing Operations (Net Earnings (Loss) Per Share Computations from Continuing Operations) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net earnings (loss) from continuing operations:
Net earnings (loss) from continuing operations		$ 139	$ 156	$ (41)	$ (548)
Attributable to participating securities		(1)	(1)	(1)	(1)
Basic and diluted earnings (loss) from continuing operations		$ 138	$ 155	$ (42)	$ (549)
Common shares:
Common shares outstanding - total		397	491	415	513
Attributable to participating securities		(5)	(5)	(6)	(6)
Common shares outstanding - basic		392	486	409	507
Dilutive effect of potential common shares issuable		2	3
Common shares outstanding - diluted		394	489	409	507
Net earnings (loss) per share from continuing operations:
Basic		$ 0.35	$ 0.32	$ (0.10)	$ (1.08)
Diluted		$ 0.35	$ 0.32	$ (0.10)	$ (1.08)
Antidilutive options	[1]	1	2	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 _3

Other Comprehensive Earnings (Loss) (Components Of Other Comprehensive Earnings (Loss)) (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Foreign currency translation:
Beginning accumulated foreign currency translation and other			$ 1,227	$ 1,159	$ 1,309
Change in cumulative translation adjustment			35	78	(61)
Release of Canadian cumulative translation adjustment	[1]			(1,237)
Income tax benefit					14
Ending accumulated foreign currency translation			1,262		1,262
Pension and postretirement benefit plans:
Beginning accumulated pension and postretirement benefits		$ (117)	(136)	(132)	(143)
Recognition of net actuarial loss and prior service cost in earnings	[2]	1	2	5	9
Curtailment and settlement of pension benefits	[3]		45	15	45
Income tax expense			(11)	(4)	(11)
Ending accumulated pension and postretirement benefits		(116)	(100)	(116)	(100)
Other			2		2
Accumulated other comprehensive earnings (loss), net of tax		$ (116)	$ 1,164	$ (116)	$ 1,164	$ 1,027
[1]	In conjunction with the sale of substantially all of its Canadian oil and gas assets and operations in Canada, Devon released the cumulative translation adjustment as part of its gain on the disposition of its Canadian business. See Note 18
[2]	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 16
[3]	These accumulated other comprehensive earnings are included within components of other expenses and restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings.

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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Changes in assets and liabilities, net:
Accounts receivable	$ 54	$ (93)	$ 85	$ (255)
Other current assets	2	4	9	(91)
Other long-term assets	14	3	(1)	(63)
Accounts payable	3	3	(18)	96
Revenues and royalties payable	(73)	(5)	(133)	205
Other current liabilities	13	33	(77)	128
Other long-term liabilities		(26)	5	(30)
Total	13	(81)	(130)	(10)
Supplementary cash flow data - total operations:
Interest paid (net of capitalized interest)	$ 81	61	242	275
Income taxes paid		$ 37	$ 16	$ 31

Accounts Receivable (Schedule O

Accounts Receivable (Schedule Of Components Of Accounts Receivable) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Joint interest billings	$ 161	$ 150
Other	28	15
Gross accounts receivable	793	862
Allowance for doubtful accounts	(6)	(7)
Net accounts receivable	787	855
Oil, Gas and NGL Sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	396	413
Marketing Revenues [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	$ 208	$ 284

Property, Plant and Equipment_2

Property, Plant and Equipment (Table of Property and Equipment, net) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Property and equipment:
Proved	$ 41,681	$ 40,378
Unproved and properties under development	752	833
Total oil and gas	42,433	41,211
Less accumulated DD&A	(33,311)	(32,229)
Oil and gas property and equipment, net	9,122	8,982
Other property and equipment	1,754	1,707
Less accumulated DD&A	(699)	(663)
Other property and equipment, net	1,055	1,044
Total property and equipment, net	$ 10,177	$ 10,026

Debt And Related Expenses (Sche

Debt And Related Expenses (Schedule Of Debt Instruments and Balances) (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Short-term debt			$ 162
Net discount on debentures and notes		$ (20)	(21)
Debt issuance costs		(34)	(36)
Total debt		4,295	4,454
Total long-term debt	[1]	$ 4,295	4,292
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%
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	[2]	$ 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	[2]	$ 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]	The balance as of December 31, 2018 excludes the $1.5 billion of Senior Notes classified as liabilities held for sale that were retired early in July 2019 utilizing a portion of the proceeds from the sale of Devon’s Canadian business. See Note 18
[2]	These senior notes were included in the 2018 tender offer repurchases discussed below.

Debt And Related Expenses (Sc_2

Debt And Related Expenses (Schedule Of Debt Instruments and Balances) (Parenthetical) (Details) $ in Billions	1 Months Ended
	Jul. 31, 2019USD ($)
Canadian Business Segment [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Long-term debt retired	$ 1.5

Debt And Related Expenses (Narr

Debt And Related Expenses (Narrative) (Details) - USD ($)	1 Months Ended		3 Months Ended		9 Months Ended
	Jan. 31, 2019	Jul. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Redemption of senior notes			$ 21,000,000		$ 162,000,000	$ 828,000,000
Loss on early retirement of debt						(312,000,000)
Charge 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)
Charge 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
8.25% Due July 1, 2018 [Member] | Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes		$ 20,000,000
Debt interest rate, stated percentage		8.25%
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					0.189
Outstanding letters of credit					$ 2,000,000
Senior Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt-to-capitalization ratio					0.65

Debt And Related Expenses (Sc_3

Debt And Related Expenses (Schedule of Net Financing Cost Components) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt Disclosure [Abstract]
Interest based on debt outstanding	$ 65	$ 68	$ 195	$ 219
Early retirement of debt				312
Other	(5)		(9)	(10)
Total net financing costs	$ 60	$ 68	$ 186	$ 521

Leases (Narrative) (Details)

Leases (Narrative) (Details) - USD ($) $ in Millions		Jan. 01, 2019	Sep. 30, 2019
Operating Leased Assets [Line Items]
Right-of-use assets			$ 219
Lease liabilities	[1]		$ 263
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 $61 million for 2019, $48 million for 2020, $18 million for 2021, $9 million for 2022, $8 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	Sep. 30, 2019USD ($)
Leases [Abstract]
Right-of-use assets, finance lease	$ 203
Finance lease liabilities:
Current lease liabilities, finance lease	7	[1]
Long-term lease liabilities, finance lease	240
Total lease liabilities, finance lease	247
Right-of-use assets, operating lease	16
Operating lease liabilities:
Current lease liabilities, operating lease	12	[1]
Long-term lease liabilities, operating lease	4
Total lease liabilities, operating lease	16	[2]
Right-of-use assets	219
Lease liabilities:
Current lease liabilities	19	[1]
Long-term lease liabilities	244
Total lease liabilities	$ 263	[3]
[1]	Current lease liabilities are included in other current liabilities on the consolidated balance sheets.
[2]	During the third quarter of 2019, in addition to normal amortization, Devon had early terminations that resulted in a $37 million reduction in right of use assets and lease liabilities which includes $9 million of other expenses within Devon’s consolidated comprehensive statements of earnings.
[3]	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 $61 million for 2019, $48 million for 2020, $18 million for 2021, $9 million for 2022, $8 million for 2023 and $33 million thereafter.

Leases (Schedule of Total Lease

Leases (Schedule of Total Lease Cost) (Details) - USD ($) $ in Millions		3 Months Ended	9 Months Ended
		Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating lease cost		$ 10	$ 35
Short-term lease cost	[1]	18	69
Financing lease cost:
Amortization of right-of-use assets		6	18
Interest on lease liabilities		3	8
Variable lease cost		1	2
Lease income		(1)	(3)
Net lease cost		$ 37	$ 129
[1]	Short-term lease cost excludes leases with terms of one month or less.

Leases (Schedule of Additional

Leases (Schedule of Additional Lease Information) (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)
Cash outflows for lease liabilities:
Operating cash flows, Finance lease	$ 2	$ 5
Weighted average remaining lease term (years), Finance lease	8 years 3 months 18 days	8 years 3 months 18 days
Weighted average discount rate, Finance lease	4.20%	4.20%
Operating cash flows, Operating lease		$ 1
Investing cash flows, Operating lease	$ 10	37
Right-of-use assets obtained in exchange for new lease liabilities, Operating lease		$ 1
Weighted average remaining lease term (years), Operating lease	2 years 3 months 18 days	2 years 3 months 18 days
Weighted average discount rate, Operating lease	3.40%	3.40%

Leases (Maturities of Lease Lia

Leases (Maturities of Lease Liabilities) (Details) $ in Millions	Sep. 30, 2019USD ($)
Leases [Abstract]
2019	$ 2
2020	7
2021	7
2022	8
2023	8
Thereafter	306
Total lease payments	338
Less: interest	(91)
Present value of lease liabilities	247
2019	4	[1]
2020	8	[1]
2021	2	[1]
2022	1	[1]
2023	1	[1]
Thereafter	1	[1]
Total lease payments	17	[1]
Less: interest	(1)	[1]
Present value of lease liabilities	16	[1]
2019	6	[2]
2020	15	[2]
2021	9	[2]
2022	9	[2]
2023	9	[2]
Thereafter	307	[2]
Total lease payments	355	[2]
Less: interest	(92)	[2]
Present value of lease liabilities	$ 263	[2]
[1]	During the third quarter of 2019, in addition to normal amortization, Devon had early terminations that resulted in a $37 million reduction in right of use assets and lease liabilities which includes $9 million of other expenses within Devon’s consolidated comprehensive statements of earnings.
[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 $61 million for 2019, $48 million for 2020, $18 million for 2021, $9 million for 2022, $8 million for 2023 and $33 million thereafter.

Leases (Maturities of Lease L_2

Leases (Maturities of Lease Liabilities) (Parenthetical) (Details) - USD ($) $ in Millions		3 Months Ended
		Sep. 30, 2019	Dec. 31, 2018
Lease Liability Maturity Term [Line Items]
Reduction in right of use assets and lease liabilities		$ 37
Early termination of lease		9
2019	[1]	4
2020	[1]	8
2021	[1]	2
2022	[1]	1
2023	[1]	1
Thereafter	[1]	$ 1
ASC 840
Lease Liability Maturity Term [Line Items]
2019			$ 61
2020			48
2021			18
2022			9
2023			8
Thereafter			$ 33
[1]	During the third quarter of 2019, in addition to normal amortization, Devon had early terminations that resulted in a $37 million reduction in right of use assets and lease liabilities which includes $9 million of other expenses within Devon’s consolidated comprehensive statements of earnings.

Leases (Schedule of Expected Le

Leases (Schedule of Expected Lease Income ) (Details) $ in Millions	Sep. 30, 2019USD ($)
Leases [Abstract]
2019	$ 2
2020	6
2021	6
2022	6
2023	7
Thereafter	51
Total	$ 78

Asset Retirement Obligations (S

Asset Retirement Obligations (Summary Of Changes In Asset Retirement Obligations) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations as of beginning of period	$ 623	$ 704
Liabilities incurred	14	24
Liabilities settled and divested	(51)	(71)
Revision of estimated obligation	(63)	1
Accretion expense on discounted obligation	21	26
Asset retirement obligations as of end of period	544	684
Less current portion	18	20
Asset retirement obligations, long-term	$ 526	$ 664	$ 606

Asset Retirement Obligations (N

Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Asset Retirement Obligations [Line Items]
Revision of estimated obligation	$ (63)	$ 1
Decrease in asset retirement obligation	$ 51	71
Asset Divestitures [Member]
Asset Retirement Obligations [Line Items]
Decrease in asset retirement obligation		$ 61

Retirement Plans (Narrative) (D

Retirement Plans (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Decrease in pension assets and liabilities	$ 190
Percentage of decrease in pension plans obligations	15.00%
Settlement expense	$ 34
Postretirement Benefits [Member]
Defined Benefit Plan Disclosure [Line Items]
Net periodic benefit credit		$ 1	$ 1

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		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Defined Benefit Plan Disclosure [Line Items]
Service cost		$ 2	$ 2	$ 5	$ 7
Interest cost		7	9	24	29
Expected return on plan assets		(10)	(11)	(29)	(38)
Amortization of prior service cost	[1]			1	1
Net actuarial loss	[1]	$ 1	3	7	10
Net periodic benefit cost	[2]		$ 3	$ 8	$ 9
[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 Billions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Feb. 28, 2019
Stockholders Equity [Abstract]
Percentage of increase to quarterly dividend		12.50%
Common stock dividends, rate per share	$ 0.09	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.06
Share Repurchase Program [Member]
Stockholders Equity [Abstract]
Share-repurchase program, additional authorized amount					$ 3			$ 1
Share-repurchase program expiration date							Dec. 31, 2019
Share Repurchase Program [Member] | Maximum [Member]
Stockholders Equity [Abstract]
Share-repurchase program, authorized amount						$ 1		$ 5

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							21 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019
Stockholders Equity [Line Items]
Total Number of Shares Purchased					40,822			142,338
Dollar Value of Shares Purchased					$ 1,712			$ 4,711
Average Price Paid per Share					$ 41.92			$ 33.09
Open-Market [Member]
Stockholders Equity [Line Items]
Total Number of Shares Purchased	22,137	5,911	36,141	23,612	16,492	11,154	2,561
Dollar Value of Shares Purchased	$ 550	$ 159	$ 1,024	$ 745	$ 712	$ 439	$ 82
Average Price Paid per Share	$ 24.80	$ 27.01	$ 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

Stockholders' Equity (Summary_2

Stockholders' Equity (Summary Of Dividends Paid On Common Stock) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Stockholders Equity Note [Abstract]
Common stock dividends paid, Amount	$ 35	$ 37	$ 34	$ 38	$ 42	$ 32	$ 106	$ 112
Common stock dividends, rate per share	$ 0.09	$ 0.09	$ 0.08	$ 0.08	$ 0.08	$ 0.06

Discontinued Operations and A_3

Discontinued Operations and Assets Held for Sale (Narrative) (Details) $ in Millions, $ in Billions		Jun. 27, 2019USD ($)	Jun. 27, 2019CAD ($)	Jul. 31, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Sep. 30, 2019USD ($)MMcf	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain recognized on sale of business, pre-tax						$ 34	$ 2,607		$ 223	$ 2,607
Foreign currency translation adjustment	[1]								1,237
Cash restricted for discontinued operations						280			280
Charge on early retirement of debt, cash retirement costs										$ 304
Assets related to divestiture						396			396		$ 4,269
Liabilities related to divestiture						347			347		2,623
Non-Core Upstream Assets [Member] | Permian Basin [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Assets related to divestiture											197
Liabilities related to divestiture											$ 69
Senior Notes [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Charge on early retirement of debt, cash retirement costs								$ 304
Loss on early retirement of debt, noncash charges								$ 8
Canadian​ Divestiture [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Restructuring costs and asset impairment charges									280
Estimated cash abandonment charges per quarter									6
Canadian Business Segment [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Deferred tax asset						29			$ 29
Charge on early retirement of debt, cash retirement costs						52
Loss on early retirement of debt, noncash charges						6
Canadian Business Segment [Member] | Senior Notes [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Long-term debt retired				$ 1,500
Canadian Business Segment [Member] | 4.00% due July 15, 2021 [Member] | Senior Notes [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Long-term debt retired						$ 500
Debt interest rate, stated percentage						4.00%			4.00%
Debt, maturity date						Jul. 15, 2021
Canadian Business Segment [Member] | 3.25% due May 15, 2022 [Member] | Senior Notes [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Long-term debt retired						$ 1,000
Debt interest rate, stated percentage						3.25%			3.25%
Debt, maturity date						May 15, 2022
Canadian Business Segment [Member] | Canadian​ Divestiture [Member] | Firm Transportation Agreement Abandonment Charge [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Restructuring costs and asset impairment charges									$ 154
Canadian Business Segment [Member] | Canadian​ Divestiture [Member] | Office Lease Abandonment and Related Asset Impairment Charges [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Restructuring costs and asset impairment charges									56
Canadian Business Segment [Member] | Canadian​ Divestiture [Member] | Employee Related Costs [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Restructuring costs and asset impairment charges									67
Expense associated with accelerated awards									$ 40
Canadian Natural Resources Limited [Member] | Canadian Business Segment [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Effective close date of divestiture									Jun. 27, 2019
Proceeds from the sale of business		$ 2,600	$ 3.4
Gain recognized on sale of business, pre-tax						$ 34			$ 223
Gain recognized on sale of business, after-tax						20			480
Cash income taxes									100
Foreign currency translation adjustment									1,200
Cash restricted for discontinued operations						$ 280			280
Restructuring costs reimbursed									$ 50
EnLink and General Partner [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Effective close date of divestiture									Jul. 18, 2018
Proceeds from the sale of business							3,125
Gain recognized on sale of business, pre-tax							2,600
Gain recognized on sale of business, after-tax							2,200
Cash income taxes							$ 12
Net cash outflows					$ 200				$ 422
EnLink and General Partner [Member] | 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
EnLink and General Partner [Member] | 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
EnLink and General Partner [Member] | 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
EnLink and General Partner [Member] | 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
[1]	In conjunction with the sale of substantially all of its Canadian oil and gas assets and operations in Canada, Devon released the cumulative translation adjustment as part of its gain on the disposition of its Canadian business. See Note 18

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) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Upstream revenues	$ (7)	$ 398	$ 628	$ 1,003
Marketing and midstream revenues		385	38	3,633
Total revenues	(7)	783	666	4,636
Production expenses	(1)	137	293	451
Exploration expenses		10	13	28
Marketing and midstream expenses		318	18	2,946
Depreciation, depletion and amortization		74	128	490
Asset impairments			37
Asset dispositions	(34)	(2,607)	(223)	(2,607)
General and administrative expenses	2	26	33	126
Financing costs, net	59	16	85	101
Restructuring and transaction costs	5	4	244	13
Other expenses	5	(22)	8	80
Total expenses	36	(2,044)	636	1,628
Earnings (loss) from discontinued operations before income taxes	(43)	2,827	30	3,008
Income tax benefit	(13)	420	(298)	385
Net earnings (loss) from discontinued operations, net of tax	(30)	2,407	328	2,623
Net earnings attributable to noncontrolling interests		26		160
Net earnings from discontinued operations, attributable to Devon		2,381		2,463
Canada [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Upstream revenues	(7)	398	628	1,003
Marketing and midstream revenues		25	38	66
Total revenues	(7)	423	666	1,069
Production expenses	(1)	137	293	451
Exploration expenses		10	13	28
Marketing and midstream expenses		16	18	34
Depreciation, depletion and amortization		74	128	246
Asset impairments			37
Asset dispositions	(34)		(223)
General and administrative expenses	2	19	33	61
Financing costs, net	59	7	85	3
Restructuring and transaction costs	5	4	244	13
Other expenses	5	(21)	8	88
Total expenses	36	246	636	924
Earnings (loss) from discontinued operations before income taxes	(43)	177	30	145
Income tax benefit	(13)	33	(298)	(18)
Net earnings (loss) from discontinued operations, net of tax	$ (30)	144	$ 328	163
Net earnings from discontinued operations, attributable to Devon		144		163
EnLink and General Partner [Member]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Marketing and midstream revenues		360		3,567
Total revenues		360		3,567
Marketing and midstream expenses		302		2,912
Depreciation, depletion and amortization				244
Asset dispositions		(2,607)		(2,607)
General and administrative expenses		7		65
Financing costs, net		9		98
Other expenses		(1)		(8)
Total expenses		(2,290)		704
Earnings (loss) from discontinued operations before income taxes		2,650		2,863
Income tax benefit		387		403
Net earnings (loss) from discontinued operations, net of tax		2,263		2,460
Net earnings attributable to noncontrolling interests		26		160
Net earnings from discontinued operations, attributable to Devon		$ 2,237		$ 2,300

Discontinued Operations and A_5

Discontinued Operations and Assets Held for Sale (Carrying Amounts of Assets and Liabilities Classified as Associated with Discontinued Operations on Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Disposal Group Including Discontinued Operation Balance Sheet Disclosures [Abstract]
Cash restricted for discontinued operations	$ 280
Accounts receivable	3	$ 37
Other current assets	18	246
Current assets associated with discontinued operations	21	283
Oil and gas property and equipment, based on successful efforts accounting, net		3,829
Other property and equipment, net		78
Other long-term assets	95	79
Long-term assets associated with discontinued operations	95	3,986
Total assets associated with discontinued operations	396	4,269
Accounts payable	6	101
Revenues and royalties payable	3	67
Other current liabilities	163	170
Current liabilities associated with discontinued operations	172	338
Long-term debt		1,493
Asset retirement obligations		424
Other long-term liabilities	175	20
Deferred income taxes		348
Long-term liabilities associated with discontinued operations	175	2,285
Total liabilities associated with discontinued operations	$ 347	$ 2,623

Commitments And Contingencies (

Commitments And Contingencies (Narrative) (Details)	9 Months Ended
	Sep. 30, 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	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	$ 178	$ 674
Derivatives, liabilities	(2)	(33)
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	624	1,505
Debt	(4,295)	(4,454)
Carrying Amount [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	178	674
Derivatives, liabilities	(2)	(33)
Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	624	1,505
Debt	(5,392)	(4,494)
Total Fair Value [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	178	674
Derivatives, liabilities	(2)	(33)
Level 1 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	624	1,405
Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		100
Debt	(5,392)	(4,494)
Level 2 Inputs [Member] | Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	178	674
Derivatives, liabilities	$ (2)	$ (33)