DEVON ENERGY CORP/DE PP&E Disclosure
The following table presents the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities.
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
||
Property and equipment: |
|
|
|
|
|
|
||
Proved |
|
$ |
58,573 |
|
|
$ |
53,647 |
|
Unproved and properties under development |
|
|
1,910 |
|
|
|
2,814 |
|
Total oil and gas |
|
|
60,483 |
|
|
|
56,461 |
|
Less accumulated DD&A |
|
|
(36,752 |
) |
|
|
(33,263 |
) |
Oil and gas property and equipment, net |
|
|
23,731 |
|
|
|
23,198 |
|
Other property and equipment |
|
|
2,624 |
|
|
|
2,671 |
|
Less accumulated DD&A |
|
|
(936 |
) |
|
|
(858 |
) |
Other property and equipment, net |
|
|
1,688 |
|
|
|
1,813 |
|
Property and equipment, net |
|
$ |
25,419 |
|
|
$ |
25,011 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Feb 18, 2026 | Showing above |
| 2024 | Feb 19, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 15, 2023 | |
| 2021 | Feb 16, 2022 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.