Current liabilities held for sale

^[1]

257

115

991

Other current liabilities

1,243

828

Total current liabilities

3,224

3,315

Long-term debt

5,791

6,749

Asset retirement obligations

1,103

1,099

Other long-term liabilities

613

549

Long-term liabilities held for sale

3,936

Deferred income taxes

543

489

Equity:

Common stock, $0.10 par value. Authorized 1.0 billion shares; issued 474 million and 525 million shares in 2018 and 2017, respectively

47

53

Additional paid-in capital

5,217

7,333

Retained earnings

2,505

702

Accumulated other comprehensive earnings

1,164

1,166

Treasury stock, at cost, 0.9 million shares in 2018

(35)

Total stockholders’ equity attributable to Devon

8,898

9,254

Noncontrolling interests

4,850

Total equity

8,898

14,104

Total liabilities and equity

$ 20,172

$ 30,241

[1]	As of September 30, 2018, short-term debt consists of Devon’s $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019.

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2018	Dec. 31, 2017
Statement Of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.10	$ 0.10
Common stock, shares authorized (in shares)	1,000,000,000.0	1,000,000,000.0
Common stock, shares issued (in shares)	474,000,000	525,000,000
Treasury stock, shares	900,000

Consolidated Statements Of Equity - USD ($) shares in Millions, $ in Millions	Total	Common Stock [Member]	Additional Paid-In Capital [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Earnings [Member]	Treasury Stock [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2016	$ 12,722	$ 52	$ 7,237	$ (69)	$ 1,054		$ 4,448
Balance, shares at Dec. 31, 2016		523
Net earnings	774			715			59
Other comprehensive earnings (loss), net of tax	92				92
Restricted stock grants, net of cancellations, value	1	$ 1
Restricted stock grants, net of cancellations, shares		1
Common stock repurchased	(43)					$ (43)
Common stock retired			(43)			43
Common stock dividends	(95)			(95)
Share-based compensation	96		96
Share-based compensation, shares		1
Subsidiary equity transactions	557		12				545
Distributions to noncontrolling interests	(247)						(247)
Balance at Sep. 30, 2017	13,857	$ 53	7,302	551	1,146		4,805
Balance, shares at Sep. 30, 2017		525
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

Summary Of Significant Accounting Policies

9 Months Ended

Sep. 30, 2018

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

1.	Summary of Significant Accounting Policies

The accompanying unaudited interim financial statements and notes of Devon have been prepared pursuant to the rules and regulations of the SEC. Pursuant to such rules and regulations, certain disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been omitted. The accompanying unaudited interim financial statements and notes should be read in conjunction with the financial statements and notes included in Devon’s 2017 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, 2018 and 2017 and Devon’s financial position as of September 30, 2018. As further discussed in Note 3, during the second quarter of 2018, Devon announced the sale of its interests in the General Partner and EnLink, which closed on July 18, 2018. Activity relating to the General Partner and EnLink 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 EnLink and the General Partner are presented as assets and liabilities held for sale on the consolidated balance sheets.

Recently Adopted Accounting Standards

In January 2018, Devon adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606), using the modified retrospective method. See Note 2 for further discussion regarding Devon’s adoption of the revenue recognition standard.

In January 2018, Devon adopted ASU 2017-07, Compensation – Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU requires entities to present the service cost component of net periodic benefit cost in the same line item as other employee compensation costs. Only the service cost component of net periodic benefit cost is eligible for capitalization. As a result of the adoption of this ASU, consolidated statements of earnings presentation changes were applied retrospectively, while service cost component capitalization was applied prospectively.

In January 2018, Devon adopted ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. This ASU requires an entity to show the changes in the total of cash, cash equivalents, restricted cash, and restricted cash equivalents on the statement of cash flows and to provide a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet when the cash, cash equivalents, restricted cash, and restricted cash equivalents are presented in more than one line item on the balance sheet. As a result of the adoption of this ASU, Devon made changes to the statement of cash flows to include the required presentation and reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents retrospectively. Other than presentation, adoption of this ASU did not have a material impact on Devon’s consolidated statements of cash flows.

Issued Accounting Standards Not Yet Adopted

The FASB issued ASU 2016-02, Leases (Topic 842). This ASU will supersede the lease requirements in Topic 840, Leases. Its objective is to increase transparency and comparability among organizations. This ASU provides guidance requiring lessees to recognize most leases on their balance sheet. Short-term leases can continue being accounted for off balance sheet based on a policy election. Lessor accounting does not significantly change, except for some changes made to align with new revenue recognition requirements. This ASU is effective for Devon beginning January 1, 2019. Early adoption is permitted, but Devon does not plan to early adopt. The guidance will be applied using a modified retrospective transition method at the beginning of the earliest period presented in the financial statements. Entities will be allowed to continue to apply the legacy guidance in Topic 840, including its disclosure requirements, in the comparative periods presented in the year the new leases standard is adopted.

Devon plans to elect the practical expedients provided in the standard that allow entities to not reassess under the new standard our prior conclusions about lease identification and classification related to contracts that commenced prior to adoption and allows the new guidance to be applied prospectively to all new or modified land easements and rights-of-way. Devon also plans to elect a policy to not recognize right-of-use assets and lease liabilities related to short-term leases.

Devon has determined its portfolio of leased assets and is reviewing all related contracts to determine the impact the adoption will have on its consolidated financial statements and related disclosures. Devon anticipates recognizing right-of-use assets and lease liabilities for certain commitments related to real estate, drilling rigs and other equipment related to the exploration and development of oil and gas. Devon has designed processes and controls and has implemented a technology solution needed to comply with the requirements of this ASU. The adoption will increase asset and liability balances on the consolidated balance sheets due to the required recognition of right-of-use assets and corresponding lease liabilities.

The FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU will expand hedge accounting for nonfinancial and financial risk components and amend measurement methodologies to more closely align hedge accounting with a company’s risk management activities. The guidance also eliminates the requirement to separately measure and report hedge ineffectiveness. This ASU is effective for annual and interim periods beginning January 1, 2019, with early adoption permitted in 2018. This ASU only applies to entities that elect hedge accounting, which Devon has not for derivative financial instruments. Devon continues to evaluate the provisions of this ASU and the impact it may have on its consolidated financial statements if hedge accounting were elected in the future.

The FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220). This ASU allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Reform Legislation. The ASU is effective for fiscal years beginning January 1, 2019, including interim periods within those fiscal years and allows for early adoption in any interim period after issuance of the update. Devon is currently assessing the impact this ASU will have on its consolidated financial statements.

The FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement. This ASU will eliminate, add and modify certain disclosure requirements for fair value measurement. The ASU is effective for annual and interim periods beginning January 1, 2020, with early adoption permitted for either the entire standard or only the provisions that eliminate or modify requirements. The ASU requires the additional disclosure requirements to be adopted using a prospective approach and all other amendments are required to be adopted using a retrospective approach. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its disclosures in the notes to the consolidated financial statements.

The FASB issued ASU 2018-14, Compensation, Retirement Benefits and Defined Benefit Plans (Subtopic 715-20): Changes to the Disclosure Requirements for Defined Benefit Plans. This ASU will eliminate and add certain disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. This ASU is effective for annual and interim periods beginning January 1, 2021, with early adoption permitted. The ASU is required to be adopted using a retrospective approach. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its disclosures in the notes to the consolidated financial statements.

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. This ASU will require a customer in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the module or component of the hosting arrangement is ready for its intended use. This ASU is effective for annual and interim periods beginning January 1, 2020, with early adoption permitted. Entities have the option to adopt the ASU using either a retrospective approach or a prospective approach applied to all implementation costs incurred after the date of adoption. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its consolidated financial statements.

The SEC released Final Rule Release 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 is effective November 5, 2018. The rule amends numerous SEC rules, items and forms covering a diverse group of topics. As the changes are generally expected to reduce or eliminate disclosures, Devon is currently evaluating and assessing the impact it may have on its disclosures.

Revenue Recognition

9 Months Ended

Sep. 30, 2018

Revenue From Contract With Customer [Abstract]

Revenue Recognition

2.	Revenue Recognition

Impact of ASC 606 Adoption

In January 2018, Devon adopted ASC 606 – Revenue from Contracts with Customers (ASC 606) using the modified retrospective method and has applied the standard to all existing contracts. ASC 606 supersedes previous revenue recognition requirements in ASC 605 and includes a five-step revenue recognition model to depict the transfer of goods or services to customers in an amount that reflects the consideration in exchange for those goods or services.

The impact of adoption in the current period results is as follows:

	Three Months Ended September 30, 2018						Nine Months Ended September 30, 2018
	Under ASC 606		Under ASC 605		Increase/ (Decrease)		Under ASC 606			Under ASC 605			Increase/ (Decrease)
Upstream revenues	$	1,332	$	1,268	$	64	$	3,720		$	3,529		$	191
Marketing revenues		1,247		1,247		—		3,306			3,306			—
Total impacted revenues	$	2,579	$	2,515	$	64	$	7,026		$	6,835		$	191

Production expenses	$	554	$	490	$	64	$	1,669		$	1,478		$	191
Marketing expenses		1,217		1,217		—		3,250			3,250			—
Total impacted expenses	$	1,771	$	1,707	$	64	$	4,919		$	4,728		$	191

Earnings (loss) from continuing operations before income taxes	$	162	$	162	$	—	$	(564	)	$	(564	)	$	—

Changes to upstream revenues and production expenses are due to the conclusion that Devon represents the principal and controls a promised product before transferring it to the ultimate third party customer in accordance with the control model in ASC 606. This is a change from previous conclusions reached for these agreements utilizing the principal versus agent indicators under ASC 605 where the assessment was focused on Devon passing title and not control to the processing entity and Devon ultimately receiving a net price from the third-party end customer. As a result, Devon has changed the presentation of revenues and expenses for these agreements. Revenues related to these agreements are now presented on a gross basis for amounts expected to be received from third-party customers through the marketing process. Gathering, processing and transportation expenses related to these agreements, incurred prior to the transfer of control to the customer at the tailgate of the natural gas processing facilities, are now presented as production expenses.

Upstream Revenues

Upstream revenues include the sale of oil, gas and NGL production. Oil, gas and NGL sales are recognized when production is sold to a purchaser at a fixed or determinable price, delivery has occurred, control has transferred and collectability of the revenue is probable. Devon’s performance obligations are satisfied at a point in time. This occurs when control is transferred to the purchaser upon delivery of contract specified production volumes at a specified point. The transaction price used to recognize revenue is a function of the contract billing terms. Revenue is invoiced, if required, by calendar month based on volumes at contractually based rates with payment typically received within 30 days of the end of the production month. Taxes assessed by governmental authorities on oil, gas and NGL sales are presented separately from such revenues in the accompanying consolidated comprehensive statements of earnings.

Natural gas and NGL sales

Under Devon’s natural gas processing contracts, natural gas is delivered to a midstream processing entity at the wellhead or the inlet of the midstream processing entity’s system. The midstream processing entity gathers and processes the natural gas and remits proceeds for the resulting sales of NGLs and residue gas. In these scenarios, Devon evaluates whether it is the principal or the agent in the transaction. Devon has concluded it is the principal under these contracts and the ultimate third party is the customer. Revenue is recognized on a gross basis, with gathering, processing and transportation fees presented as a component of production expenses in the consolidated comprehensive statements of earnings.

In certain natural gas processing agreements, Devon may elect to take residue gas and/or NGLs in-kind at the tailgate of the midstream entity’s processing plant and subsequently market the product. Through the marketing process, the product is delivered to the ultimate third-party purchaser at a contractually agreed-upon delivery point, and Devon receives a specified index price from the purchaser. In this scenario, revenue is recognized when control transfers to the purchaser at the delivery point based on the index price received from the purchaser. The gathering, processing and compression fees attributable to the gas processing contract, as well as any transportation fees incurred to deliver the product to the purchaser, are presented as gathering, processing and transportation expense as a component of production expenses in the consolidated comprehensive statements of earnings.

Oil sales

Devon’s oil sales contracts are generally structured in one of two ways. First, production is sold at the wellhead at an agreed-upon index price, net of pricing differentials. In this scenario, revenue is recognized when control transfers to the purchaser at the wellhead at the net price received. Alternatively, production is delivered to the purchaser at a contractually agreed-upon delivery point at which the purchaser takes custody, title and risk of loss of the product. Under this arrangement, a third party is paid to transport the product and Devon receives a specified index price from the purchaser with no transportation deduction. In this scenario, revenue is recognized when control transfers to the purchaser at the delivery point based on the price received from the purchaser. The third-party costs are recorded as gathering, processing and transportation expense as a component of production expenses in the consolidated comprehensive statements of earnings.

Marketing Revenues

Marketing revenues are generated primarily as a result of Devon selling commodities purchased from third parties. Marketing revenues are recognized when performance obligations are satisfied. This occurs at the time contract specified products are sold to third parties at a contractually fixed or determinable price, delivery occurs at a specified point or performance has occurred, control has transferred and collectability of the revenue is probable. The transaction price used to recognize revenue and invoice customers is based on a contractually stated fee or on a third party published index price plus or minus a known differential. Devon typically receives payment for invoiced amounts within 30 days. Marketing revenues and expenses attributable to oil, gas and NGL purchases are reported on a gross basis when Devon takes control of the products and has risks and rewards of ownership.

Satisfaction of Performance Obligations and Revenue Recognitions

Since Devon has a right to consideration from its customers in amounts that correspond directly to the value that the customer receives from the performance completed on each contract, Devon applies the practical expedient in ASC 606 that allows recognition of revenue in the amount to which there is a right to invoice and prevents the need to estimate a transaction price for each contract and allocating that transaction price to the performance obligations within each contract. Devon recognizes revenue for sales at the time the natural gas, NGLs or crude oil are delivered at a fixed or determinable price.

Transaction Price Allocated to Remaining Performance Obligations

Most of Devon’s contracts are short-term in nature with a contract term of one year or less. Devon applies the practical expedient in ASC 606 exempting the disclosure of the transaction price allocated to remaining performance obligations if the performance obligation is part of a contract that has an original expected duration of one year or less. For contracts with terms greater than one year, Devon applies the practical expedient in ASC 606 exempting the disclosure of the transaction price allocated to remaining performance obligations if the variable consideration is allocated entirely to a wholly unsatisfied performance obligation. Under Devon’s contracts, each unit of product typically represents a separate performance obligation; therefore, future volumes are wholly unsatisfied and disclosure of the transaction price allocated to remaining performance obligations is not required.

Contract Balances

Cash received relating to future performance obligations are deferred and recognized when all revenue recognition criteria are met. Contract liabilities generated from such deferred revenue are not considered material as of September 30, 2018. Devon’s product sales and marketing contracts do not give rise to contract assets under ASC 606.

Disaggregation of Revenue

Revenue from oil, gas and NGL sales and marketing revenues represent revenue from contracts with customers. The following table presents revenue from contracts with customers that are disaggregated based on the type of good.

	Three Months Ended September 30, 2018								Nine Months Ended September 30, 2018
	U.S.			Canada		Total			U.S.			Canada		Total
Oil	$	794		$	298	$	1,092		$	2,279		$	841	$	3,120
Gas		210			—		210			672			—		672
NGL		306			—		306			742			—		742
Oil, gas and NGL revenues from contracts with customers		1,310			298		1,608			3,693			841		4,534
Oil, gas and NGL derivatives		(376	)		100		(276	)		(976	)		162		(814	)
Upstream revenues		934			398		1,332			2,717			1,003		3,720

Oil		750			25		775			2,047			66		2,113
Gas		191			—		191			506			—		506
NGL		281			—		281			687			—		687
Total marketing revenues from contracts with customers		1,222			25		1,247			3,240			66		3,306

Total revenues	$	2,156		$	423	$	2,579		$	5,957		$	1,069	$	7,026

Divestitures

9 Months Ended

Sep. 30, 2018

Business Combinations [Abstract]

Divestitures

3.	Divestitures

2018 Asset Divestitures

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 to $4.0 billion, which is discussed further in Note 19. Additional information on these discontinued operations can be found in Note 20.

Additionally, during the third quarter of 2018, Devon entered into definitive agreements to sell non-core Delaware Basin and Barnett Shale assets for approximately $320 million in the aggregate, before purchase price adjustments. Devon expects to recognize a gain in the consolidated statements of earnings upon closing the transactions in the fourth quarter of 2018.

Subsequent to September 30, 2018, Devon reached an agreement to sell additional non-core assets for $100 million, before purchase price adjustments. The transaction is expected to close in the first quarter of 2019. Devon is currently evaluating the impact this transaction will have on its consolidated financial statements.

During the second quarter of 2018, Devon sold a portion of its Barnett Shale assets, primarily located in Johnson County for $553 million ($481 million after customary purchase price adjustments). Estimated proved reserves associated with these assets are approximately 10% of total proved reserves. The transaction resulted in an adjustment to Devon’s capitalized costs with no gain recognized in the consolidated statements 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 statements of earnings.

2017 Asset Divestitures

Through September 30, 2017, Devon completed divestiture transactions with proceeds totaling approximately $400 million, before purchase price adjustments and recognized a net gain of approximately $200 million in the consolidated statements of earnings. Estimated proved reserves associated with these assets were less than 1% of total proved reserves.

Derivative Financial Instruments

9 Months Ended

Sep. 30, 2018

Derivative Instruments And Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments

4.Derivative Financial Instruments

Objectives and Strategies

Devon enters into derivative financial instruments with respect to a portion of its oil, gas and NGL production to hedge future prices received. Additionally, Devon periodically enters into derivative financial instruments with respect to a portion of its oil, gas and NGL marketing activities. These commodity derivative financial instruments include financial price swaps, basis swaps and costless price collars. Devon periodically enters into interest rate swaps to manage its exposure to interest rate volatility and foreign exchange forward contracts to manage its exposure to fluctuations in the U.S. and Canadian dollar exchange rates. As of September 30, 2018, Devon did not have any open foreign exchange contracts.

Devon does not intend to hold or issue derivative financial instruments for speculative trading purposes and has elected not to designate any of its derivative instruments for hedge accounting treatment.

Counterparty Credit Risk

By using derivative financial instruments, Devon is exposed to credit risk. Credit risk is the failure of the counterparty to perform under the terms of the derivative contract. To mitigate this risk, the hedging instruments are placed with a number of counterparties whom Devon believes are acceptable credit risks. It is Devon’s policy to enter into derivative contracts only with investment-grade rated counterparties deemed by management to be competent and competitive market makers. Additionally, Devon’s derivative contracts generally contain provisions that provide for collateral payments if Devon’s or its counterparty’s credit rating falls below certain credit rating levels.

Commodity Derivatives

As of September 30, 2018, Devon had the following open oil derivative positions. The first table presents Devon’s oil derivatives that settle against the average of the prompt month NYMEX WTI futures price. The second table presents Devon’s oil derivatives that settle against the respective indices noted within the table.

	Price Swaps				Price Collars
Period	Volume (Bbls/d)		Weighted Average Price ($/Bbl)		Volume (Bbls/d)		Weighted Average Floor Price ($/Bbl)		Weighted Average Ceiling Price ($/Bbl)
Q4 2018		93,800	$	58.95		110,200	$	53.95	$	64.49
Q1-Q4 2019		57,130	$	59.73		79,904	$	54.23	$	64.23
Q1-Q4 2020		1,740	$	62.88		1,989	$	57.86	$	67.86

	Oil Basis Swaps						Oil Basis Collars
Period	Index	Volume (Bbls/d)		Weighted Average Differential to WTI ($/Bbl)			Volume (Bbls/d)		Weighted Average Floor Differential to WTI ($/Bbl)			Weighted Average Ceiling Differential to WTI ($/Bbl)
Q4 2018	Midland Sweet		23,000	$	(1.02	)		—	$	—		$	—
Q4 2018	Argus LLS		12,000	$	3.95			—	$	—		$	—
Q4 2018	Argus MEH		16,000	$	2.84			—	$	—		$	—
Q4 2018	NYMEX Roll		27,000	$	0.58			—	$	—		$	—
Q4 2018	Western Canadian Select		62,109	$	(16.41	)		1,326	$	(15.50	)	$	(13.93	)
Q1-Q4 2019	Midland Sweet		28,000	$	(0.46	)		—	$	—		$	—
Q1-Q4 2019	Argus LLS		14,000	$	4.82			—	$	—		$	—
Q1-Q4 2019	Argus MEH		16,000	$	2.84			—	$	—		$	—
Q1-Q4 2019	NYMEX Roll		38,000	$	0.45			—	$	—		$	—
Q1-Q4 2019	Western Canadian Select		10,647	$	(23.39	)		—	$	—		$	—
Q1-Q4 2020	NYMEX Roll		38,000	$	0.31			—	$	—		$	—

As of September 30, 2018, Devon had the following open natural gas derivative positions. The first table presents Devon’s natural gas derivatives that settle against the Inside FERC first of the month Henry Hub index. The second table presents Devon’s natural gas 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 2018		304,000	$	2.92		267,000	$	2.76	$	3.09
Q1-Q4 2019		215,129	$	2.81		187,775	$	2.65	$	3.03
Q1-Q4 2020		6,589	$	2.81		7,086	$	2.65	$	2.95

	Natural Gas Basis Swaps
Period	Index	Volume (MMBtu/d)		Weighted Average Differential to Henry Hub ($/MMBtu)
Q4 2018	Panhandle Eastern Pipe Line		120,000	$	(0.51)
Q4 2018	El Paso Natural Gas		100,000	$	(1.25)
Q4 2018	Houston Ship Channel		110,000	$	0.01
Q4 2018	Transco Zone 4		30,000	$	(0.03)
Q1-Q4 2019	Panhandle Eastern Pipe Line		74,384	$	(0.75)
Q1-Q4 2019	El Paso Natural Gas		130,000	$	(1.46)
Q1-Q4 2019	Houston Ship Channel		122,637	$	—
Q1-Q4 2019	Transco Zone 4		7,397	$	(0.03)

As of September 30, 2018, Devon had the following open NGL derivative positions. Devon’s NGL positions settle against the average of the prompt month OPIS Mont Belvieu, Texas index.

		Price Swaps
Period	Product	Volume (Bbls/d)		Weighted Average Price ($/Bbl)
Q4 2018	Ethane		6,000	$	11.73
Q4 2018	Natural Gasoline		6,500	$	56.13
Q4 2018	Normal Butane		7,000	$	38.69
Q4 2018	Propane		12,000	$	33.72
Q1-Q4 2019	Ethane		1,000	$	11.55
Q1-Q4 2019	Natural Gasoline		4,500	$	55.93
Q1-Q4 2019	Normal Butane		4,000	$	33.69
Q1-Q4 2019	Propane		8,500	$	30.01

Interest Rate Derivatives

As of September 30, 2018, Devon had the following open interest rate derivative position:

Notional				Rate Received			Rate Paid		Expiration
$	100			1.76%			Three Month LIBOR		January 2019

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,
	2018			2017			2018			2017
Commodity derivatives:
Upstream revenues	$	(276	)	$	(144	)	$	(814	)	$	214
Marketing revenues		—			—			(1	)		3
Interest rate derivatives:
Other expenses		—			(4	)		65			(19	)
Net gains (losses) recognized	$	(276	)	$	(148	)	$	(750	)	$	198

The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.

	September 30, 2018		December 31, 2017
Commodity derivative assets:
Other current assets	$	176	$	203
Other long-term assets		8		2
Interest rate derivative assets:
Other current assets		—		1
Total derivative assets	$	184	$	206
Commodity derivative liabilities:
Other current liabilities	$	763	$	259
Other long-term liabilities		105		27
Interest rate derivative liabilities:
Other current liabilities		1		64
Total derivative liabilities	$	869	$	350

Share-Based Compensation

9 Months Ended

Sep. 30, 2018

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Share-Based Compensation

5.	Share-Based Compensation

The table below presents the share-based compensation expense included in Devon’s accompanying consolidated comprehensive statements of earnings. The vesting for certain share-based awards was accelerated in conjunction with the reduction of workforce described in Note 7 and is included in restructuring and transaction costs in the accompanying consolidated comprehensive statements of earnings.

	Nine Months Ended September 30,
	2018		2017
G&A	$	95	$	107
Exploration expenses		3		6
Restructuring and transaction costs		28		—
Total	$	126	$	113
Related income tax benefit	$	9	$	4

Under its approved long-term incentive plan, Devon granted share-based awards to certain employees in the first nine months of 2018. The following table presents a summary of Devon’s unvested restricted stock awards and units, performance-based restricted stock awards and performance share units granted under the plan.

	Restricted Stock					Performance-Based					Performance
	Awards and Units					Restricted Stock Awards					Share Units
	Awards and Units			Weighted Average Grant-Date Fair Value		Awards			Weighted Average Grant-Date Fair Value		Units					Weighted Average Grant-Date Fair Value
	(Thousands, except fair value data)
Unvested at 12/31/17		6,328		$	36.81		575		$	38.92		2,758				$	41.21
Granted		3,573		$	36.00		—		$	—		845				$	37.40
Vested		(3,045	)	$	38.76		(273	)	$	42.22		(571	)			$	84.22
Forfeited		(753	)	$	35.56		—		$	—		(137	)			$	34.04
Unvested at 9/30/18		6,103		$	35.52		302		$	35.93		2,895		⁽¹	⁾	$	30.17

(1)	A maximum of 5.8 million common shares could be awarded based upon Devon’s final TSR ranking relative to Devon’s peer group established under applicable award agreements.

The following table presents the assumptions related to the performance share units granted in 2018, as indicated in the previous summary table.

	2018
Grant-date fair value		$36.23	—	$	37.88
Risk-free interest rate	2.28%
Volatility factor	45.8%
Contractual term (years)	2.89

The following table presents a summary of the unrecognized compensation cost and the related weighted average recognition period associated with unvested awards and units as of September 30, 2018.

			Performance-Based
	Restricted Stock		Restricted Stock		Performance
	Awards and Units		Awards		Share Units
Unrecognized compensation cost	$	139	$	1	$	31
Weighted average period for recognition (years)		2.5		1.0		1.9

Asset Impairments

9 Months Ended

Sep. 30, 2018

Asset Impairment Charges [Abstract]

Asset Impairments

6.	Asset Impairments

Unproved Impairments

During the first nine months of 2018 and 2017, 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 $76 million and $80 million, respectively. Unproved impairments are included in exploration expenses in the consolidated comprehensive statements of earnings.

Asset Impairments

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.

Restructuring and Transaction Costs

9 Months Ended

Sep. 30, 2018

Restructuring And Related Activities [Abstract]

Restructuring and Transaction Costs

7.	Restructuring and Transaction Costs

In April 2018, Devon announced workforce reductions and other initiatives designed to enhance its operational focus and cost structure. As a result, Devon recognized $105 million ($102 million related to personnel) of restructuring expenses during the first nine months of 2018. 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.

The following table summarizes Devon’s restructuring liabilities.

	Other			Other
	Current			Long-term
	Liabilities			Liabilities			Total
	(Millions)
Balance as of December 31, 2017	$	19		$	31		$	50
Changes due to 2018 workforce reductions		35			—			35
Changes related to prior years' restructurings		1			(10	)		(9	)
Balance as September 30, 2018	$	55		$	21		$	76

Balance as of December 31, 2016	$	48		$	62		$	110
Changes related to prior years' restructurings		(28	)		(26	)		(54	)
Balance as of September 30, 2017	$	20		$	36		$	56

Other Expenses

9 Months Ended

Sep. 30, 2018

Other Income And Expenses [Abstract]

Other Expenses

8.	Other Expenses

The following table summarizes Devon’s other expenses presented in the accompanying consolidated comprehensive statements of earnings.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Foreign exchange (gain) loss, net	$	(28	)	$	(74	)	$	53		$	(138	)
Asset retirement obligation accretion		14			16			44			47
Other, net		(17	)		(12	)		(83	)		(1	)
Total	$	(31	)	$	(70	)	$	14		$	(92	)

Foreign exchange (gain) loss, net

The U.S. dollar is the functional currency for Devon’s consolidated operations except its Canadian subsidiaries, which use the Canadian dollar as the functional currency. The amounts in the table above include both unrealized and realized foreign exchange impacts of foreign currency denominated monetary assets and liabilities, including intercompany loans between subsidiaries with different functional currencies. Unrealized gains and losses arise from the remeasurement of these foreign currency denominated monetary assets and liabilities and intercompany loans. Realized gains and losses arise when there are settlements of these foreign currency denominated monetary assets and liabilities and intercompany loans.

Foreign currency denominated intercompany loan activity in the first nine months of 2018 resulted in a realized loss of $243 million, as a result of the strengthening of the U.S. dollar in relation to the Canadian dollar. These losses during the first nine months of 2018, were partially offset by reversing $195 million of previously recognized unrealized losses on intercompany loan activity.

Income Taxes

9 Months Ended

Sep. 30, 2018

Income Tax Disclosure [Abstract]

Income Taxes

9.	Income Taxes

The following table presents Devon’s total income tax expense (benefit) and a reconciliation of its effective income tax rate to the U.S. statutory income tax rate.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Current income tax expense (benefit)	$	(24	)	$	38		$	(47	)	$	70
Deferred income tax benefit		(114	)		(25	)		(132	)		(57	)
Total income tax expense (benefit)	$	(138	)	$	13		$	(179	)	$	13

U.S. statutory income tax rate		21	%		35	%		21	%		35	%
State income taxes		(5	%)		0	%		1	%		1	%
Change in unrecognized tax benefits		(13	%)		4	%		4	%		1	%
Other		(7	%)		(19	%)		(7	%)		(7	%)
Deferred tax asset valuation allowance		(81	%)		(14	%)		13	%		(28	%)
Effective income tax rate		(85	%)		6	%		32	%		2	%

Devon estimates its annual effective income tax rate in recording its quarterly provision for income taxes in the various jurisdictions in which it operates. Statutory tax rate changes and other significant or unusual items are recognized as discrete items in the quarter in which they occur. Under the Tax Reform Legislation, the U.S. corporate income tax rate was reduced to 21% effective January 1, 2018.

During the third quarter of 2018, Devon realized $22 million of unrecognized benefits, including $2 million of interest, as a result of the expiration of certain U.S. federal statutes of limitation.

In the table above, the “other” effect is primarily composed of permanent differences for which dollar amounts do not increase or decrease in relation to the change in pre-tax earnings. Generally, such items have an insignificant impact on Devon’s effective income tax rate. However, these items have a more noticeable impact to the rate in the first nine months of 2018 due to lower relative earnings during the period.

Throughout 2017 and through the first two quarters of 2018, Devon’s U.S. segment maintained a 100% valuation allowance against its U.S. deferred tax assets resulting from prior year cumulative financial losses, oil and gas impairments, and significant net operating losses for U.S. federal and state income tax. Devon provided an additional $129 million to its U.S. segment valuation allowance in the first two quarters of 2018 based on the financial losses recorded during that period. However, upon closing the EnLink divestiture in the third quarter of 2018, Devon realized a pre-tax gain of $2.6 billion. Based on its net deferred tax liability position, current period projected net operating loss utilization, and projections of future taxable income, Devon reassessed its position and determined that its U.S. segment is no longer in a full valuation allowance position, maintaining only valuation allowances against certain deferred tax assets, including certain tax credits and state net operating losses. As part of its reassessment, Devon determined that apart from the sale of EnLink and the General Partner, Devon’s U.S. segment would have remained in a full valuation allowance position. Accordingly, the deferred tax benefit resulting from the release of the valuation allowance that was generated in the first two quarters was allocated to continuing operations, while the $259 million of deferred tax benefit resulting from the release of the remainder of the full valuation allowance position was allocated entirely to discontinued operations. A partial valuation allowance continues to be held against certain Canadian segment deferred tax assets. During the first three quarters of 2018, the Canadian segment reduced its valuation allowance by approximately $76 million.

During the first quarter of 2018, Devon repatriated approximately $92 million from certain international entities. This repatriation had no tax impact.

In December 2017, the SEC staff issued Staff Accounting Bulletin No. 118, Income Tax Accounting Implications of the Tax Cuts and Jobs Act (SAB 118), which allows Devon to record provisional amounts during a measurement period not to extend beyond one

year after the enactment date of the Tax Reform Legislation. The 2017 U.S. federal tax return was filed subsequent to the end of the third quarter of 2018. With the completion of the 2017 federal return, Devon considers the accounting of the transition tax, deferred tax remeasurements and other items to now be substantially complete.

Net Earnings (Loss) Per Share from Continuing Operations

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Net Earnings (Loss) Per Share from Continuing Operations

10.	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,
	2018			2017			2018			2017
Net earnings (loss) from continuing operations:
Net earnings (loss) from continuing operations	$	300		$	194		$	(385	)	$	714
Attributable to participating securities		(3	)		(2	)		(1	)		(8	)
Basic and diluted earnings (loss) from continuing operations	$	297		$	192		$	(386	)	$	706
Common shares:
Common shares outstanding - total		491			526			513			525
Attributable to participating securities		(5	)		(6	)		(6	)		(6	)
Common shares outstanding - basic		486			520			507			519
Dilutive effect of potential common shares issuable		3			3			—			3
Common shares outstanding - diluted		489			523			507			522
Net earnings (loss) per share from continuing operations:
Basic	$	0.61		$	0.37		$	(0.76	)	$	1.36
Diluted	$	0.61		$	0.37		$	(0.76	)	$	1.35
Antidilutive options ⁽¹⁾		2			2			2			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

9 Months Ended

Sep. 30, 2018

Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]

Other Comprehensive Earnings

11.	Other Comprehensive Earnings

Components of other comprehensive earnings consist of the following:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Foreign currency translation:
Beginning accumulated foreign currency translation	$	1,227		$	1,262		$	1,309		$	1,226
Change in cumulative translation adjustment		35			58			(61	)		108
Income tax benefit (expense)		—			(16	)		14			(30	)
Ending accumulated foreign currency translation		1,262			1,304			1,262			1,304
Pension and postretirement benefit plans:
Beginning accumulated pension and postretirement benefits		(136	)		(163	)		(143	)		(172	)
Recognition of net actuarial loss and prior service cost in earnings ⁽¹⁾		92			5			99			14
Curtailment and settlement of pension benefits		(34	)		—			(34	)		—
Income tax expense		(22	)		—			(22	)		—
Ending accumulated pension and postretirement benefits		(100	)		(158	)		(100	)		(158	)
Other		2			—			2			—
Accumulated other comprehensive earnings, net of tax	$	1,164		$	1,146		$	1,164		$	1,146

(1)	These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of other expenses in the accompanying consolidated comprehensive statements of earnings. See Note 18 for additional details.

Supplemental Information To Statements Of Cash Flows

9 Months Ended

Sep. 30, 2018

Supplemental Cash Flow Elements [Abstract]

Supplemental Information To Statements Of Cash Flows

12.	Supplemental Information to Statements of Cash Flows

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Changes in assets and liabilities, net
Accounts receivable	$	(65	)	$	(102	)	$	(216	)	$	(28	)
Other current assets		1			26			(94	)		13
Other long-term assets		(3	)		3			(84	)		13
Accounts payable		14			29			96			97
Revenues and royalties payable		(12	)		(30	)		200			21
Other current liabilities		38			69			(25	)		17
Other long-term liabilities		(24	)		(7	)		(36	)		(12	)
Total	$	(51	)	$	(12	)	$	(159	)	$	121
Supplementary cash flow data - total operations:
Interest paid (net of capitalized interest)	$	61		$	51		$	275		$	287
Income taxes paid (received)	$	37		$	—		$	31		$	(1	)

Accounts Receivable

9 Months Ended

Sep. 30, 2018

Accounts Receivable Net [Abstract]

Accounts Receivable

13.	Accounts Receivable

Components of accounts receivable include the following:

	September 30, 2018			December 31, 2017
Oil, gas and NGL sales	$	619		$	559
Joint interest billings		176			134
Marketing revenues		323			278
Other		117			29
Gross accounts receivable		1,235			1,000
Allowance for doubtful accounts		(9	)		(11	)
Net accounts receivable	$	1,226		$	989

Property, Plant and Equipment

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References + Details

Property, Plant and Equipment

9 Months Ended

Sep. 30, 2018

Extractive Industries [Abstract]

14.Property, Plant and Equipment

The following table presents the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities.

	September 30, 2018			December 31, 2017
Property and equipment:
Proved	$	47,747		$	47,295
Unproved and properties under development		2,409			2,457
Total oil and gas		50,156			49,752
Less accumulated DD&A		(37,100	)		(36,434	)
Oil and gas property and equipment, net		13,056			13,318
Other property and equipment		1,845			1,955
Less accumulated DD&A		(699	)		(689	)
Other property and equipment, net		1,146			1,266
Property and equipment, net	$	14,202		$	14,584

Other Current Liabilities

9 Months Ended

Sep. 30, 2018

Other Liabilities Disclosure [Abstract]

Other Current Liabilities

15.	Other Current Liabilities

Components of other current liabilities include the following:

	September 30, 2018		December 31, 2017
Derivative liabilities	$	764	$	323
Accrued interest payable		109		96
Income taxes payable		23		144
Restructuring liabilities		55		19
Other		292		246
Other current liabilities	$	1,243	$	828

Debt And Related Expenses

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Debt and Related Expenses

16.	Debt and Related Expenses

A summary of debt is as follows:

	September 30, 2018			December 31, 2017
8.25% due July 1, 2018	$	—		$	20
2.25% due December 15, 2018		95			95
6.30% due January 15, 2019		162			162
4.00% due July 15, 2021		500			500
3.25% due May 15, 2022		1,000			1,000
5.85% due December 15, 2025		485			485
7.50% due September 15, 2027		73			73
7.875% due September 30, 2031 ⁽¹⁾		675			1,059
7.95% due April 15, 2032 ⁽¹⁾		366			789
5.60% due July 15, 2041		1,250			1,250
4.75% due May 15, 2042		750			750
5.00% due June 15, 2045		750			750
Net discount on debentures and notes		(24	)		(30	)
Debt issuance costs		(34	)		(39	)
Total debt		6,048			6,864
Less amount classified as short-term debt⁽²⁾		257			115
Total long-term debt	$	5,791		$	6,749

(1)	These senior notes were included in the 2018 tender offer repurchases discussed below.

(2)	As of September 30, 2018, short-term debt consists of Devon’s $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019.

Credit Lines

Under its 2012 Senior Credit Facility, Devon had $3.0 billion of available credit. As of September 30, 2018, Devon had no outstanding borrowings and had issued $50 million in outstanding letters of credit under this facility. The 2012 Senior Credit Facility contained only one material financial covenant. This covenant required 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, 2018, Devon was in compliance with this covenant with a debt-to-capitalization ratio of 21.5%.

On October 5, 2018, Devon terminated its 2012 Senior Credit Facility and subsequently entered into a new $3.0 billion revolving 2018 Senior Credit Facility with a financial covenant and other terms similar to the 2012 Senior Credit Facility. The 2018 Senior Credit Facility matures on October 5, 2023, with the option to extend the maturity date by two additional one-year periods.

Retirement of Senior Notes

In the first quarter of 2018, Devon completed tender offers to repurchase $807 million in aggregate principal amount of debt securities, using cash on hand. This included $384 million of the 7.875% senior notes due September 30, 2031 and $423 million of the 7.95% senior notes due April 15, 2032. Devon recognized a $312 million loss on early retirement of debt, consisting of $304 million in cash retirement costs and $8 million of noncash charges. These costs, along with other charges associated with retiring the debt, are included in net financing costs in the consolidated comprehensive statements of earnings.

In July 2018, Devon repaid the $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,
	2018			2017			2018			2017
Interest based on debt outstanding	$	81		$	97		$	258		$	292
Early retirement of debt		—			—			312			—
Capitalized interest		(6	)		(18	)		(41	)		(50	)
Other		—			(1	)		(5	)		(4	)
Total net financing costs	$	75		$	78		$	524		$	238

Asset Retirement Obligations

9 Months Ended

Sep. 30, 2018

Asset Retirement Obligation Disclosure [Abstract]

Asset Retirement Obligations

17.	Asset Retirement Obligations

The following table presents the changes in Devon’s asset retirement obligations.

	Nine Months Ended September 30,
	2018			2017
Asset retirement obligations as of beginning of period	$	1,138		$	1,258
Liabilities incurred		32			30
Liabilities settled and divested		(83	)		(53	)
Revision of estimated obligation		23			(184	)
Accretion expense on discounted obligation		44			47
Foreign currency translation adjustment		(14	)		29
Asset retirement obligations as of end of period		1,140			1,127
Less current portion		37			41
Asset retirement obligations, long-term	$	1,103		$	1,086

During the first nine months of 2018, Devon reduced its asset retirement obligation by $61 million, primarily as a result of Devon’s 2018 divestitures. For additional information, see Note 3.

During the first quarter of 2017, Devon reduced its estimated asset retirement obligations by $184 million, primarily due to changes in the assumed inflation rate and retirement dates for its oil and gas assets.

Retirement Plans

9 Months Ended

Sep. 30, 2018

Compensation And Retirement Disclosure [Abstract]

Retirement Plans

18.	Retirement Plans

During the third quarter of 2018, Devon entered into a group annuity contract, under which a third party has 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 million, representing approximately 15% of the total obligations of Devon’s pension plans. In connection with this transaction, Devon recorded a settlement expense of approximately $34 million, which was reclassified from other comprehensive earnings to other expense on the consolidated comprehensive statements of earnings in the current period.

The following table presents the components of net periodic benefit cost for Devon’s pension and postretirement benefit plans.

	Pension Benefits												Postretirement Benefits
	Three Months Ended						Nine Months Ended						Three Months Ended				Nine Months Ended
	September 30,						September 30,						September 30,				September 30,
	2018			2017			2018			2017			2018		2017		2018			2017
Service cost	$	2		$	4		$	8		$	12		$	—	$	—	$	—		$	—
Interest cost		10			11			30			32			—		—		—			—
Expected return on plan assets		(11	)		(14	)		(39	)		(41	)		—		—		—			—
Amortization of prior service cost ⁽¹⁾		—			—			1			1			—		—		(1	)		(1	)
Net actuarial loss ⁽¹⁾		3			5			10			14			—		—		—			—
Net periodic benefit cost ⁽²⁾	$	4		$	6		$	10		$	18		$	—	$	—	$	(1	)	$	(1	)

(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

9 Months Ended

Sep. 30, 2018

Stockholders Equity Note [Abstract]

Stockholders' Equity

19.	Stockholders’ Equity

Share Repurchase Program

In March 2018, Devon announced a share repurchase program to buy up to $1.0 billion of shares of common stock. In June 2018, in conjunction with the announced divestiture of its investment in EnLink and the General Partner, Devon increased its program by an additional $3.0 billion, bringing the total repurchase program to $4.0 billion. The share repurchase program expires December 31, 2019.

During the third quarter of 2018, Devon entered into and completed an ASR transaction to repurchase $1.0 billion of the $4.0 billion program. The table below provides information regarding purchases of Devon’s common stock that were made during the first nine months of 2018 (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
Total year-to-date		54,537	$	2,233	$	40.94

Dividends

The table below summarizes the dividends Devon paid on its common stock.

	Amounts		Rate Per Share
Quarter Ended 2018:
First quarter 2018	$	32	$	0.06
Second quarter 2018		42	$	0.08
Third quarter 2018		38	$	0.08
Total year-to-date	$	112
Quarter Ended 2017:
First quarter 2017	$	32	$	0.06
Second quarter 2017		33	$	0.06
Third quarter 2017		30	$	0.06
Total year-to-date	$	95

Devon increased the quarterly dividend by 33% to $0.08 per share in the second quarter of 2018.

Discontinued Operations

9 Months Ended

Sep. 30, 2018

Discontinued Operations And Disposal Groups [Abstract]

Discontinued Operations

20.	Discontinued Operations

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 part of its assessment, Devon considered the following: 1) Devon is exiting its entire midstream business ownership; 2) EnLink and the General Partner 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, debt, revenues, net earnings and operating cash flows. 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. 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 signed.

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). As current (cash) income taxes 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 explained in Note 9.

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,
	2018			2017			2018			2017
Marketing and midstream revenues	$	360		$	1,223		$	3,567		$	3,468
Marketing and midstream expenses		302			981			2,912			2,781
Depreciation, depletion and amortization		—			142			244			407
General and administrative expenses		7			31			65			98
Financing costs, net		9			50			98			134
Asset dispositions		(2,607	)		1			(2,607	)		1
Other expenses		(1	)		(2	)		(8	)		(22	)
Total expenses		(2,290	)		1,203			704			3,399
Earnings from discontinued operations before income taxes		2,650			20			2,863			69
Income tax expense		387			2			403			9
Net earnings from discontinued operations, net of income tax expense		2,263			18			2,460			60
Net earnings attributable to noncontrolling interests		26			19			160			59
Net earnings (loss) from discontinued operations attributable to Devon	$	2,237		$	(1	)	$	2,300		$	1

The following table presents the carrying amounts of the assets and liabilities classified as held for sale on the consolidated balance sheets.

	December 31, 2017
Cash and cash equivalents	$	31
Accounts receivable		681
Other current assets		48
Midstream and other property and equipment, net		6,587
Goodwill		1,542
Other long-term assets		1,600
Total assets held for sale	$	10,489

Accounts payable	$	186
Revenues and royalties payable		432
Other current liabilities		373
Long-term debt		3,542
Deferred income taxes		346
Other long-term liabilities		48
Total liabilities held for sale	$	4,927

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 continue through year-end 2018 and the Chisholm plant through early 2021, as shown in the following table.

	Minimum	Minimum
	Gathering Volume	Processing Volume
Contract	Commitment (MMcf/d)	Commitment (MMcf/d)
Bridgeport gathering and processing contract	850	650
Cana gathering and processing contract	330	330
Chisholm gathering and processing contract	77-128	77-128

From the period of July 19, 2018 through September 30, 2018, Devon had net outflows of approximately $200 million with EnLink, which primarily related to gathering and processing expenses. These net outflows represent gross cash amounts and not net working interest amounts.

Prior to the divestment of Devon’s aggregate ownership of EnLink and the General Partner, certain activity between Devon and EnLink were eliminated in consolidation. Subsequent to the divestment, all activity related to EnLink represent third-party transactions and are no longer eliminated in consolidation.

Commitments And Contingencies

9 Months Ended

Sep. 30, 2018

Commitments And Contingencies Disclosure [Abstract]

Commitments And Contingencies

21.	Commitments and Contingencies

Devon is party to various legal actions arising in the normal course of business. Matters that are probable of unfavorable outcome to Devon and which can be reasonably estimated are accrued. Such accruals are based on information known about the matters, Devon’s estimates of the outcomes of such matters and its experience in contesting, litigating and settling similar matters. None of the actions are believed by management to involve future amounts that would be material to Devon’s financial position or results of operations after consideration of recorded accruals. Actual amounts could differ materially from management’s estimates.

Royalty Matters

Numerous oil and natural gas producers and related parties, including Devon, have been named in various lawsuits alleging royalty underpayments. Devon is currently named as a defendant in a number of such lawsuits, including some lawsuits in which the plaintiffs seek to certify classes of similarly situated plaintiffs. Among the allegations typically asserted in these suits are claims that Devon used below-market prices, made improper deductions, used improper measurement techniques and entered into gas purchase and processing arrangements with affiliates that resulted in underpayment of royalties in connection with oil, natural gas and NGLs produced and sold. Devon is also involved in governmental agency proceedings and royalty audits and is subject to related contracts and regulatory controls in the ordinary course of business, some that may lead to additional royalty claims. Devon does not currently believe that it is subject to material exposure with respect to such royalty matters.

Environmental Matters

Devon is subject to certain environmental, health and safety laws and regulations, including with respect to environmental remediation activities associated with past operations, such as the Comprehensive Environmental Response, Compensation, and Liability Act and similar state statutes. In response to liabilities associated with these activities, loss accruals primarily consist of estimated uninsured remediation costs. Devon’s monetary exposure for environmental matters is not expected to be material.

Other Matters

Devon is involved in other various legal proceedings incidental to its business. However, to Devon’s knowledge, there were no other material pending legal proceedings to which Devon is a party or to which any of its property is subject.

Fair Value Measurements

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements

22.	Fair Value Measurements

The following table provides carrying value and fair value measurement information for certain of Devon’s financial assets and liabilities. None of the items below are measured using Level 3 inputs. The carrying values of cash, accounts receivable, other current receivables, accounts payable, other current payables and accrued expenses included in the accompanying consolidated balance sheets approximated fair value at September 30, 2018 and December 31, 2017. Therefore, such financial assets and liabilities are not presented in the following table. Additionally, the fair values of oil and gas assets and goodwill and related impairments are measured as of the impairment date using Level 3 inputs. More information on asset impairments is provided in Note 6.

As discussed further in Note 20, Devon’s announcement of the sale of its aggregate ownership interests in EnLink and the General Partner resulted in Devon reclassifying the related assets and liabilities to held for sale on the consolidated balance sheets as of December 31, 2017.

							Fair Value Measurements Using:
	Carrying			Total Fair			Level 1		Level 2
	Amount			Value			Inputs		Inputs
September 30, 2018 assets (liabilities):
Cash equivalents	$	2,216		$	2,216		$	2,216	$	—
Commodity derivatives	$	184		$	184		$	—	$	184
Commodity derivatives	$	(868	)	$	(868	)	$	—	$	(868	)
Interest rate derivatives	$	(1	)	$	(1	)	$	—	$	(1	)
Debt	$	(6,048	)	$	(6,458	)	$	—	$	(6,458	)
December 31, 2017 assets (liabilities):
Cash equivalents	$	1,533		$	1,533		$	1,454	$	79
Commodity derivatives	$	205		$	205		$	—	$	205
Commodity derivatives	$	(286	)	$	(286	)	$	—	$	(286	)
Interest rate derivatives	$	1		$	1		$	—	$	1
Interest rate derivatives	$	(64	)	$	(64	)	$	—	$	(64	)
Debt	$	(6,864	)	$	(8,131	)	$	—	$	(8,131	)

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 commercial paper and the fair value approximates the carrying value.

Commodity and interest rate derivatives – The fair values of commodity and interest rate derivatives are estimated using internal discounted cash flow calculations based upon forward curves and data obtained from independent third parties for contracts with similar terms or data obtained from counterparties to the agreements.

Debt – Devon’s debt instruments do not actively trade in an established market. The fair values of its debt are estimated based on rates available for debt with similar terms and maturity.

Revenue From Contract With Customer [Abstract]

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Segment Information

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Segment Information

23.	Segment Information

Devon manages its operations through distinct operating segments, which are defined primarily by geographic areas. For financial reporting purposes, Devon aggregates its U.S. operating segments into one reporting segment due to the similar nature of the businesses. However, Devon’s Canadian E&P operating segment is reported as a separate reporting segment primarily due to the significant differences between the U.S. and Canadian regulatory environments. Devon’s U.S. and Canadian segments are both primarily engaged in oil and gas E&P activities.

Devon considers EnLink, combined with the General Partner, to be a segment that is distinct from the U.S. and Canadian operating segments. EnLink’s operations consist of midstream assets and operations located in the U.S. Additionally, EnLink has a management team that is primarily responsible for capital and resource allocation decisions. However, with Devon’s recent announcement and closing of the divestment of the General Partner and EnLink, activity related to the General Partner and EnLink

have now been classified as discontinued operations within Devon’s consolidated comprehensive statements of earnings and consolidated statements of cash flows, and the associated assets and liabilities of EnLink and the General Partner are presented as assets and liabilities held for sale on the consolidated balance sheets. Additional information can be found in Note 20.

	U.S.			Canada			Total
Three Months Ended September 30, 2018:
Revenues from external customers	$	2,156		$	423		$	2,579
Depreciation, depletion and amortization	$	342		$	74		$	416
Interest expense	$	78		$	8		$	86
Asset impairments	$	2		$	—		$	2
Asset dispositions	$	(6	)	$	—		$	(6	)
Restructuring and transaction costs	$	7		$	4		$	11
Earnings (loss) from continuing operations before income taxes	$	(11	)	$	173		$	162
Income tax expense (benefit)	$	(164	)	$	26		$	(138	)
Net earnings from continuing operations	$	153		$	147		$	300
Capital expenditures, including acquisitions	$	492		$	66		$	558
Three Months Ended September 30, 2017:
Revenues from external customers	$	1,575		$	358		$	1,933
Depreciation, depletion and amortization	$	278		$	92		$	370
Interest expense	$	82		$	3		$	85
Asset dispositions	$	(170	)	$	—		$	(170	)
Earnings from continuing operations before income taxes	$	145		$	62		$	207
Income tax expense (benefit)	$	(5	)	$	18		$	13
Net earnings from continuing operations	$	150		$	44		$	194
Capital expenditures, including acquisitions	$	482		$	95		$	577
Nine Months Ended September 30, 2018:
Revenues from external customers	$	5,957		$	1,069		$	7,026
Depreciation, depletion and amortization	$	989		$	246		$	1,235
Interest expense	$	397		$	153		$	550
Asset impairments	$	156		$	—		$	156
Asset dispositions	$	5		$	—		$	5
Restructuring and transaction costs	$	92		$	13		$	105
Earnings (loss) from continuing operations before income taxes	$	(598	)	$	34		$	(564	)
Income tax benefit	$	(150	)	$	(29	)	$	(179	)
Net earnings (loss) from continuing operations	$	(448	)	$	63		$	(385	)
Property and equipment, net	$	10,053		$	4,149		$	14,202
Total assets	$	15,104		$	5,068		$	20,172
Capital expenditures, including acquisitions	$	1,689		$	215		$	1,904
Nine Months Ended September 30, 2017:
Revenues from external customers	$	5,547		$	951		$	6,498
Depreciation, depletion and amortization	$	863		$	276		$	1,139
Interest expense	$	243		$	8		$	251
Asset dispositions	$	(199	)	$	(1	)	$	(200	)
Earnings from continuing operations before income taxes	$	668		$	59		$	727
Income tax expense	$	—		$	13		$	13
Net earnings from continuing operations	$	668		$	46		$	714
Property and equipment, net	$	10,110		$	4,321		$	14,431
Total continuing assets (1)	$	14,105		$	5,295		$	19,400
Capital expenditures, including acquisitions	$	1,213		$	248		$	1,461

(1)	Total assets in the table above do not include assets held for sale related to Devon’s discontinued operations, which totaled $10.5 billion on September 30, 2017.

Summary Of Significant Accounting Policies (Policies)	9 Months Ended
Summary Of Significant Accounting Policies (Policies)	Sep. 30, 2018
Accounting Policies [Abstract]
Recent Accounting Standards	Recently Adopted Accounting Standards In January 2018, Devon adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606), using the modified retrospective method. See Note 2 for further discussion regarding Devon’s adoption of the revenue recognition standard. In January 2018, Devon adopted ASU 2017-07, Compensation – Retirement Benefits (Topic 715), Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. This ASU requires entities to present the service cost component of net periodic benefit cost in the same line item as other employee compensation costs. Only the service cost component of net periodic benefit cost is eligible for capitalization. As a result of the adoption of this ASU, consolidated statements of earnings presentation changes were applied retrospectively, while service cost component capitalization was applied prospectively. In January 2018, Devon adopted ASU 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash. This ASU requires an entity to show the changes in the total of cash, cash equivalents, restricted cash, and restricted cash equivalents on the statement of cash flows and to provide a reconciliation of the totals in the statement of cash flows to the related captions in the balance sheet when the cash, cash equivalents, restricted cash, and restricted cash equivalents are presented in more than one line item on the balance sheet. As a result of the adoption of this ASU, Devon made changes to the statement of cash flows to include the required presentation and reconciliation of cash, cash equivalents, restricted cash and restricted cash equivalents retrospectively. Other than presentation, adoption of this ASU did not have a material impact on Devon’s consolidated statements of cash flows. Issued Accounting Standards Not Yet Adopted The FASB issued ASU 2016-02, Leases (Topic 842). This ASU will supersede the lease requirements in Topic 840, Leases. Its objective is to increase transparency and comparability among organizations. This ASU provides guidance requiring lessees to recognize most leases on their balance sheet. Short-term leases can continue being accounted for off balance sheet based on a policy election. Lessor accounting does not significantly change, except for some changes made to align with new revenue recognition requirements. This ASU is effective for Devon beginning January 1, 2019. Early adoption is permitted, but Devon does not plan to early adopt. The guidance will be applied using a modified retrospective transition method at the beginning of the earliest period presented in the financial statements. Entities will be allowed to continue to apply the legacy guidance in Topic 840, including its disclosure requirements, in the comparative periods presented in the year the new leases standard is adopted. Devon plans to elect the practical expedients provided in the standard that allow entities to not reassess under the new standard our prior conclusions about lease identification and classification related to contracts that commenced prior to adoption and allows the new guidance to be applied prospectively to all new or modified land easements and rights-of-way. Devon also plans to elect a policy to not recognize right-of-use assets and lease liabilities related to short-term leases. Devon has determined its portfolio of leased assets and is reviewing all related contracts to determine the impact the adoption will have on its consolidated financial statements and related disclosures. Devon anticipates recognizing right-of-use assets and lease liabilities for certain commitments related to real estate, drilling rigs and other equipment related to the exploration and development of oil and gas. Devon has designed processes and controls and has implemented a technology solution needed to comply with the requirements of this ASU. The adoption will increase asset and liability balances on the consolidated balance sheets due to the required recognition of right-of-use assets and corresponding lease liabilities. The FASB issued ASU 2017-12, Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities. This ASU will expand hedge accounting for nonfinancial and financial risk components and amend measurement methodologies to more closely align hedge accounting with a company’s risk management activities. The guidance also eliminates the requirement to separately measure and report hedge ineffectiveness. This ASU is effective for annual and interim periods beginning January 1, 2019, with early adoption permitted in 2018. This ASU only applies to entities that elect hedge accounting, which Devon has not for derivative financial instruments. Devon continues to evaluate the provisions of this ASU and the impact it may have on its consolidated financial statements if hedge accounting were elected in the future. The FASB issued ASU 2018-02, Income Statement – Reporting Comprehensive Income – Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income (Topic 220). This ASU allows for a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Reform Legislation. The ASU is effective for fiscal years beginning January 1, 2019, including interim periods within those fiscal years and allows for early adoption in any interim period after issuance of the update. Devon is currently assessing the impact this ASU will have on its consolidated financial statements. The FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Changes to the Disclosure Requirements for Fair Value Measurement. This ASU will eliminate, add and modify certain disclosure requirements for fair value measurement. The ASU is effective for annual and interim periods beginning January 1, 2020, with early adoption permitted for either the entire standard or only the provisions that eliminate or modify requirements. The ASU requires the additional disclosure requirements to be adopted using a prospective approach and all other amendments are required to be adopted using a retrospective approach. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its disclosures in the notes to the consolidated financial statements. The FASB issued ASU 2018-14, Compensation, Retirement Benefits and Defined Benefit Plans (Subtopic 715-20): Changes to the Disclosure Requirements for Defined Benefit Plans. This ASU will eliminate and add certain disclosure requirements for employers that sponsor defined benefit pension and/or other postretirement benefit plans. This ASU is effective for annual and interim periods beginning January 1, 2021, with early adoption permitted. The ASU is required to be adopted using a retrospective approach. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its disclosures in the notes to the consolidated financial statements. 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. This ASU will require a customer in a cloud computing arrangement (i.e., hosting arrangement) that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. Capitalized implementation costs related to a hosting arrangement that is a service contract will be amortized over the term of the hosting arrangement, beginning when the module or component of the hosting arrangement is ready for its intended use. This ASU is effective for annual and interim periods beginning January 1, 2020, with early adoption permitted. Entities have the option to adopt the ASU using either a retrospective approach or a prospective approach applied to all implementation costs incurred after the date of adoption. Devon is currently evaluating the provisions of this ASU and assessing the impact it may have on its consolidated financial statements. The SEC released Final Rule Release 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 is effective November 5, 2018. The rule amends numerous SEC rules, items and forms covering a diverse group of topics. As the changes are generally expected to reduce or eliminate disclosures, Devon is currently evaluating and assessing the impact it may have on its disclosures.
Commitments And Contingencies	Devon is party to various legal actions arising in the normal course of business. Matters that are probable of unfavorable outcome to Devon and which can be reasonably estimated are accrued. Such accruals are based on information known about the matters, Devon’s estimates of the outcomes of such matters and its experience in contesting, litigating and settling similar matters. None of the actions are believed by management to involve future amounts that would be material to Devon’s financial position or results of operations after consideration of recorded accruals. Actual amounts could differ materially from management’s estimates.

Revenue Recognition (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Impact of Adoption

The impact of adoption in the current period results is as follows:

	Three Months Ended September 30, 2018						Nine Months Ended September 30, 2018
	Under ASC 606		Under ASC 605		Increase/ (Decrease)		Under ASC 606			Under ASC 605			Increase/ (Decrease)
Upstream revenues	$	1,332	$	1,268	$	64	$	3,720		$	3,529		$	191
Marketing revenues		1,247		1,247		—		3,306			3,306			—
Total impacted revenues	$	2,579	$	2,515	$	64	$	7,026		$	6,835		$	191

Production expenses	$	554	$	490	$	64	$	1,669		$	1,478		$	191
Marketing expenses		1,217		1,217		—		3,250			3,250			—
Total impacted expenses	$	1,771	$	1,707	$	64	$	4,919		$	4,728		$	191

Earnings (loss) from continuing operations before income taxes	$	162	$	162	$	—	$	(564	)	$	(564	)	$	—

Schedule of Revenue from Contracts with Customers that are Disaggregated Based on Type of Good or Service

	Three Months Ended September 30, 2018								Nine Months Ended September 30, 2018
	U.S.			Canada		Total			U.S.			Canada		Total
Oil	$	794		$	298	$	1,092		$	2,279		$	841	$	3,120
Gas		210			—		210			672			—		672
NGL		306			—		306			742			—		742
Oil, gas and NGL revenues from contracts with customers		1,310			298		1,608			3,693			841		4,534
Oil, gas and NGL derivatives		(376	)		100		(276	)		(976	)		162		(814	)
Upstream revenues		934			398		1,332			2,717			1,003		3,720

Oil		750			25		775			2,047			66		2,113
Gas		191			—		191			506			—		506
NGL		281			—		281			687			—		687
Total marketing revenues from contracts with customers		1,222			25		1,247			3,240			66		3,306

Total revenues	$	2,156		$	423	$	2,579		$	5,957		$	1,069	$	7,026

Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2018

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,
	2018			2017			2018			2017
Commodity derivatives:
Upstream revenues	$	(276	)	$	(144	)	$	(814	)	$	214
Marketing revenues		—			—			(1	)		3
Interest rate derivatives:
Other expenses		—			(4	)		65			(19	)
Net gains (losses) recognized	$	(276	)	$	(148	)	$	(750	)	$	198

The following table presents the derivative fair values by derivative financial instrument type followed by the corresponding individual consolidated balance sheet caption.

	September 30, 2018		December 31, 2017
Commodity derivative assets:
Other current assets	$	176	$	203
Other long-term assets		8		2
Interest rate derivative assets:
Other current assets		—		1
Total derivative assets	$	184	$	206
Commodity derivative liabilities:
Other current liabilities	$	763	$	259
Other long-term liabilities		105		27
Interest rate derivative liabilities:
Other current liabilities		1		64
Total derivative liabilities	$	869	$	350

Interest Rate Derivatives [Member]

Open Oil Derivative Positions [Member]

Notional				Rate Received			Rate Paid		Expiration
$	100			1.76%			Three Month LIBOR		January 2019

Open Natural Gas Derivative Positions [Member]

	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 2018		93,800	$	58.95		110,200	$	53.95	$	64.49
Q1-Q4 2019		57,130	$	59.73		79,904	$	54.23	$	64.23
Q1-Q4 2020		1,740	$	62.88		1,989	$	57.86	$	67.86

	Oil Basis Swaps						Oil Basis Collars
Period	Index	Volume (Bbls/d)		Weighted Average Differential to WTI ($/Bbl)			Volume (Bbls/d)		Weighted Average Floor Differential to WTI ($/Bbl)			Weighted Average Ceiling Differential to WTI ($/Bbl)
Q4 2018	Midland Sweet		23,000	$	(1.02	)		—	$	—		$	—
Q4 2018	Argus LLS		12,000	$	3.95			—	$	—		$	—
Q4 2018	Argus MEH		16,000	$	2.84			—	$	—		$	—
Q4 2018	NYMEX Roll		27,000	$	0.58			—	$	—		$	—
Q4 2018	Western Canadian Select		62,109	$	(16.41	)		1,326	$	(15.50	)	$	(13.93	)
Q1-Q4 2019	Midland Sweet		28,000	$	(0.46	)		—	$	—		$	—
Q1-Q4 2019	Argus LLS		14,000	$	4.82			—	$	—		$	—
Q1-Q4 2019	Argus MEH		16,000	$	2.84			—	$	—		$	—
Q1-Q4 2019	NYMEX Roll		38,000	$	0.45			—	$	—		$	—
Q1-Q4 2019	Western Canadian Select		10,647	$	(23.39	)		—	$	—		$	—
Q1-Q4 2020	NYMEX Roll		38,000	$	0.31			—	$	—		$	—

Open NGL Derivative Positions [Member]

	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 2018		304,000	$	2.92		267,000	$	2.76	$	3.09
Q1-Q4 2019		215,129	$	2.81		187,775	$	2.65	$	3.03
Q1-Q4 2020		6,589	$	2.81		7,086	$	2.65	$	2.95

	Natural Gas Basis Swaps
Period	Index	Volume (MMBtu/d)		Weighted Average Differential to Henry Hub ($/MMBtu)
Q4 2018	Panhandle Eastern Pipe Line		120,000	$	(0.51)
Q4 2018	El Paso Natural Gas		100,000	$	(1.25)
Q4 2018	Houston Ship Channel		110,000	$	0.01
Q4 2018	Transco Zone 4		30,000	$	(0.03)
Q1-Q4 2019	Panhandle Eastern Pipe Line		74,384	$	(0.75)
Q1-Q4 2019	El Paso Natural Gas		130,000	$	(1.46)
Q1-Q4 2019	Houston Ship Channel		122,637	$	—
Q1-Q4 2019	Transco Zone 4		7,397	$	(0.03)

		Price Swaps
Period	Product	Volume (Bbls/d)		Weighted Average Price ($/Bbl)
Q4 2018	Ethane		6,000	$	11.73
Q4 2018	Natural Gasoline		6,500	$	56.13
Q4 2018	Normal Butane		7,000	$	38.69
Q4 2018	Propane		12,000	$	33.72
Q1-Q4 2019	Ethane		1,000	$	11.55
Q1-Q4 2019	Natural Gasoline		4,500	$	55.93
Q1-Q4 2019	Normal Butane		4,000	$	33.69
Q1-Q4 2019	Propane		8,500	$	30.01

Disclosure Of Compensation Related Costs Sharebased Payments [Abstract]

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5624163-113959

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1B
-URI http://asc.fasb.org/extlink&oid=109980867&loc=SL5580258-113959

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=109980867&loc=d3e41620-113959

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 815
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+ Details

Share-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2018

Schedule Of Share-Based Compensation Expense Included In The Consolidated Comprehensive Statements Of Earnings

	Nine Months Ended September 30,
	2018		2017
G&A	$	95	$	107
Exploration expenses		3		6
Restructuring and transaction costs		28		—
Total	$	126	$	113
Related income tax benefit	$	9	$	4

Summary Of Unvested Restricted Stock Awards and Units, Performance-Based Restricted Stock Awards And Performance Share Units

	Restricted Stock					Performance-Based					Performance
	Awards and Units					Restricted Stock Awards					Share Units
	Awards and Units			Weighted Average Grant-Date Fair Value		Awards			Weighted Average Grant-Date Fair Value		Units					Weighted Average Grant-Date Fair Value
	(Thousands, except fair value data)
Unvested at 12/31/17		6,328		$	36.81		575		$	38.92		2,758				$	41.21
Granted		3,573		$	36.00		—		$	—		845				$	37.40
Vested		(3,045	)	$	38.76		(273	)	$	42.22		(571	)			$	84.22
Forfeited		(753	)	$	35.56		—		$	—		(137	)			$	34.04
Unvested at 9/30/18		6,103		$	35.52		302		$	35.93		2,895		⁽¹	⁾	$	30.17

(1)	A maximum of 5.8 million common shares could be awarded based upon Devon’s final TSR ranking relative to Devon’s peer group established under applicable award agreements.

Summary Of Performance Share Units Grant-Date Fair Values And Their Related Assumptions

	2018
Grant-date fair value		$36.23	—	$	37.88
Risk-free interest rate	2.28%
Volatility factor	45.8%
Contractual term (years)	2.89

Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition

			Performance-Based
	Restricted Stock		Restricted Stock		Performance
	Awards and Units		Awards		Share Units
Unrecognized compensation cost	$	139	$	1	$	31
Weighted average period for recognition (years)		2.5		1.0		1.9

Restructuring and Transaction Costs (Tables)

9 Months Ended

Sep. 30, 2018

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
	(Millions)
Balance as of December 31, 2017	$	19		$	31		$	50
Changes due to 2018 workforce reductions		35			—			35
Changes related to prior years' restructurings		1			(10	)		(9	)
Balance as September 30, 2018	$	55		$	21		$	76

Balance as of December 31, 2016	$	48		$	62		$	110
Changes related to prior years' restructurings		(28	)		(26	)		(54	)
Balance as of September 30, 2017	$	20		$	36		$	56

Other Expenses (Tables)

9 Months Ended

Sep. 30, 2018

Other Income And Expenses [Abstract]

Schedule Of Other Expenses Presented In The Accompanying Consolidated Comprehensive Statements of Earnings

The following table summarizes Devon’s other expenses presented in the accompanying consolidated comprehensive statements of earnings.

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Foreign exchange (gain) loss, net	$	(28	)	$	(74	)	$	53		$	(138	)
Asset retirement obligation accretion		14			16			44			47
Other, net		(17	)		(12	)		(83	)		(1	)
Total	$	(31	)	$	(70	)	$	14		$	(92	)

Income Taxes (Tables)

9 Months Ended

Sep. 30, 2018

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,
	2018			2017			2018			2017
Current income tax expense (benefit)	$	(24	)	$	38		$	(47	)	$	70
Deferred income tax benefit		(114	)		(25	)		(132	)		(57	)
Total income tax expense (benefit)	$	(138	)	$	13		$	(179	)	$	13

U.S. statutory income tax rate		21	%		35	%		21	%		35	%
State income taxes		(5	%)		0	%		1	%		1	%
Change in unrecognized tax benefits		(13	%)		4	%		4	%		1	%
Other		(7	%)		(19	%)		(7	%)		(7	%)
Deferred tax asset valuation allowance		(81	%)		(14	%)		13	%		(28	%)
Effective income tax rate		(85	%)		6	%		32	%		2	%

Net Earnings (Loss) Per Share from Continuing Operations (Tables)

9 Months Ended

Sep. 30, 2018

Earnings Per Share [Abstract]

Net Earnings (Loss) Per Share Computations from Continuing Operations

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Net earnings (loss) from continuing operations:
Net earnings (loss) from continuing operations	$	300		$	194		$	(385	)	$	714
Attributable to participating securities		(3	)		(2	)		(1	)		(8	)
Basic and diluted earnings (loss) from continuing operations	$	297		$	192		$	(386	)	$	706
Common shares:
Common shares outstanding - total		491			526			513			525
Attributable to participating securities		(5	)		(6	)		(6	)		(6	)
Common shares outstanding - basic		486			520			507			519
Dilutive effect of potential common shares issuable		3			3			—			3
Common shares outstanding - diluted		489			523			507			522
Net earnings (loss) per share from continuing operations:
Basic	$	0.61		$	0.37		$	(0.76	)	$	1.36
Diluted	$	0.61		$	0.37		$	(0.76	)	$	1.35
Antidilutive options ⁽¹⁾		2			2			2			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 (Tables)

9 Months Ended

Sep. 30, 2018

Other Comprehensive Income Loss Net Of Tax Period Increase Decrease [Abstract]

Components Of Other Comprehensive Earnings

Components of other comprehensive earnings consist of the following:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Foreign currency translation:
Beginning accumulated foreign currency translation	$	1,227		$	1,262		$	1,309		$	1,226
Change in cumulative translation adjustment		35			58			(61	)		108
Income tax benefit (expense)		—			(16	)		14			(30	)
Ending accumulated foreign currency translation		1,262			1,304			1,262			1,304
Pension and postretirement benefit plans:
Beginning accumulated pension and postretirement benefits		(136	)		(163	)		(143	)		(172	)
Recognition of net actuarial loss and prior service cost in earnings ⁽¹⁾		92			5			99			14
Curtailment and settlement of pension benefits		(34	)		—			(34	)		—
Income tax expense		(22	)		—			(22	)		—
Ending accumulated pension and postretirement benefits		(100	)		(158	)		(100	)		(158	)
Other		2			—			2			—
Accumulated other comprehensive earnings, net of tax	$	1,164		$	1,146		$	1,164		$	1,146

(1)	These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of other expenses in the accompanying consolidated comprehensive statements of earnings. See Note 18 for additional details.

Supplemental Information To Statements Of Cash Flows (Tables)

9 Months Ended

Sep. 30, 2018

Supplemental Cash Flow Elements [Abstract]

Schedule Of Supplemental Information To Statements Of Cash Flows

	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Changes in assets and liabilities, net
Accounts receivable	$	(65	)	$	(102	)	$	(216	)	$	(28	)
Other current assets		1			26			(94	)		13
Other long-term assets		(3	)		3			(84	)		13
Accounts payable		14			29			96			97
Revenues and royalties payable		(12	)		(30	)		200			21
Other current liabilities		38			69			(25	)		17
Other long-term liabilities		(24	)		(7	)		(36	)		(12	)
Total	$	(51	)	$	(12	)	$	(159	)	$	121
Supplementary cash flow data - total operations:
Interest paid (net of capitalized interest)	$	61		$	51		$	275		$	287
Income taxes paid (received)	$	37		$	—		$	31		$	(1	)

Accounts Receivable (Tables)

9 Months Ended

Sep. 30, 2018

Accounts Receivable Net [Abstract]

Schedule Of Components Of Accounts Receivable

Components of accounts receivable include the following:

	September 30, 2018			December 31, 2017
Oil, gas and NGL sales	$	619		$	559
Joint interest billings		176			134
Marketing revenues		323			278
Other		117			29
Gross accounts receivable		1,235			1,000
Allowance for doubtful accounts		(9	)		(11	)
Net accounts receivable	$	1,226		$	989

Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2018

Extractive Industries [Abstract]

Table of Property and Equipment, net

The following table presents the aggregate capitalized costs related to Devon’s oil and gas and non-oil and gas activities.

	September 30, 2018			December 31, 2017
Property and equipment:
Proved	$	47,747		$	47,295
Unproved and properties under development		2,409			2,457
Total oil and gas		50,156			49,752
Less accumulated DD&A		(37,100	)		(36,434	)
Oil and gas property and equipment, net		13,056			13,318
Other property and equipment		1,845			1,955
Less accumulated DD&A		(699	)		(689	)
Other property and equipment, net		1,146			1,266
Property and equipment, net	$	14,202		$	14,584

Other Current Liabilities (Tables)

9 Months Ended

Sep. 30, 2018

Other Liabilities Disclosure [Abstract]

Schedule Of Other Current Liabilities

	September 30, 2018		December 31, 2017
Derivative liabilities	$	764	$	323
Accrued interest payable		109		96
Income taxes payable		23		144
Restructuring liabilities		55		19
Other		292		246
Other current liabilities	$	1,243	$	828

Debt And Related Expenses (Tables)

9 Months Ended

Sep. 30, 2018

Debt Disclosure [Abstract]

Schedule Of Debt Instruments and Balances

A summary of debt is as follows:

	September 30, 2018			December 31, 2017
8.25% due July 1, 2018	$	—		$	20
2.25% due December 15, 2018		95			95
6.30% due January 15, 2019		162			162
4.00% due July 15, 2021		500			500
3.25% due May 15, 2022		1,000			1,000
5.85% due December 15, 2025		485			485
7.50% due September 15, 2027		73			73
7.875% due September 30, 2031 ⁽¹⁾		675			1,059
7.95% due April 15, 2032 ⁽¹⁾		366			789
5.60% due July 15, 2041		1,250			1,250
4.75% due May 15, 2042		750			750
5.00% due June 15, 2045		750			750
Net discount on debentures and notes		(24	)		(30	)
Debt issuance costs		(34	)		(39	)
Total debt		6,048			6,864
Less amount classified as short-term debt⁽²⁾		257			115
Total long-term debt	$	5,791		$	6,749

(1)	These senior notes were included in the 2018 tender offer repurchases discussed below.

(2)	As of September 30, 2018, short-term debt consists of Devon’s $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019.

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,
	2018			2017			2018			2017
Interest based on debt outstanding	$	81		$	97		$	258		$	292
Early retirement of debt		—			—			312			—
Capitalized interest		(6	)		(18	)		(41	)		(50	)
Other		—			(1	)		(5	)		(4	)
Total net financing costs	$	75		$	78		$	524		$	238

Asset Retirement Obligations (Tables)

9 Months Ended

Sep. 30, 2018

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,
	2018			2017
Asset retirement obligations as of beginning of period	$	1,138		$	1,258
Liabilities incurred		32			30
Liabilities settled and divested		(83	)		(53	)
Revision of estimated obligation		23			(184	)
Accretion expense on discounted obligation		44			47
Foreign currency translation adjustment		(14	)		29
Asset retirement obligations as of end of period		1,140			1,127
Less current portion		37			41
Asset retirement obligations, long-term	$	1,103		$	1,086

Retirement Plans (Tables)

9 Months Ended

Sep. 30, 2018

Compensation And Retirement Disclosure [Abstract]

Schedule Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans

	Pension Benefits												Postretirement Benefits
	Three Months Ended						Nine Months Ended						Three Months Ended				Nine Months Ended
	September 30,						September 30,						September 30,				September 30,
	2018			2017			2018			2017			2018		2017		2018			2017
Service cost	$	2		$	4		$	8		$	12		$	—	$	—	$	—		$	—
Interest cost		10			11			30			32			—		—		—			—
Expected return on plan assets		(11	)		(14	)		(39	)		(41	)		—		—		—			—
Amortization of prior service cost ⁽¹⁾		—			—			1			1			—		—		(1	)		(1	)
Net actuarial loss ⁽¹⁾		3			5			10			14			—		—		—			—
Net periodic benefit cost ⁽²⁾	$	4		$	6		$	10		$	18		$	—	$	—	$	(1	)	$	(1	)

(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)

9 Months Ended

Sep. 30, 2018

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 the first nine months of 2018 (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
Total year-to-date		54,537	$	2,233	$	40.94

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 2018:
First quarter 2018	$	32	$	0.06
Second quarter 2018		42	$	0.08
Third quarter 2018		38	$	0.08
Total year-to-date	$	112
Quarter Ended 2017:
First quarter 2017	$	32	$	0.06
Second quarter 2017		33	$	0.06
Third quarter 2017		30	$	0.06
Total year-to-date	$	95

Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2018

Discontinued Operations And Disposal Groups [Abstract]

Summary of Discontinued Operations Within 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 carrying amounts of the assets and liabilities classified as held for sale on the consolidated balance sheets.

	December 31, 2017
Cash and cash equivalents	$	31
Accounts receivable		681
Other current assets		48
Midstream and other property and equipment, net		6,587
Goodwill		1,542
Other long-term assets		1,600
Total assets held for sale	$	10,489

Accounts payable	$	186
Revenues and royalties payable		432
Other current liabilities		373
Long-term debt		3,542
Deferred income taxes		346
Other long-term liabilities		48
Total liabilities held for sale	$	4,927

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,
	2018			2017			2018			2017
Marketing and midstream revenues	$	360		$	1,223		$	3,567		$	3,468
Marketing and midstream expenses		302			981			2,912			2,781
Depreciation, depletion and amortization		—			142			244			407
General and administrative expenses		7			31			65			98
Financing costs, net		9			50			98			134
Asset dispositions		(2,607	)		1			(2,607	)		1
Other expenses		(1	)		(2	)		(8	)		(22	)
Total expenses		(2,290	)		1,203			704			3,399
Earnings from discontinued operations before income taxes		2,650			20			2,863			69
Income tax expense		387			2			403			9
Net earnings from discontinued operations, net of income tax expense		2,263			18			2,460			60
Net earnings attributable to noncontrolling interests		26			19			160			59
Net earnings (loss) from discontinued operations attributable to Devon	$	2,237		$	(1	)	$	2,300		$	1

Schedule of Minimum Volume Commitments

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 continue through year-end 2018 and the Chisholm plant through early 2021, as shown in the following table.

	Minimum	Minimum
	Gathering Volume	Processing Volume
Contract	Commitment (MMcf/d)	Commitment (MMcf/d)
Bridgeport gathering and processing contract	850	650
Cana gathering and processing contract	330	330
Chisholm gathering and processing contract	77-128	77-128

Schedule Of Carrying Value And Fair Value Measurement Information For Financial Assets And Liabilities

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

Fair Value Disclosures [Abstract]

							Fair Value Measurements Using:
	Carrying			Total Fair			Level 1		Level 2
	Amount			Value			Inputs		Inputs
September 30, 2018 assets (liabilities):
Cash equivalents	$	2,216		$	2,216		$	2,216	$	—
Commodity derivatives	$	184		$	184		$	—	$	184
Commodity derivatives	$	(868	)	$	(868	)	$	—	$	(868	)
Interest rate derivatives	$	(1	)	$	(1	)	$	—	$	(1	)
Debt	$	(6,048	)	$	(6,458	)	$	—	$	(6,458	)
December 31, 2017 assets (liabilities):
Cash equivalents	$	1,533		$	1,533		$	1,454	$	79
Commodity derivatives	$	205		$	205		$	—	$	205
Commodity derivatives	$	(286	)	$	(286	)	$	—	$	(286	)
Interest rate derivatives	$	1		$	1		$	—	$	1
Interest rate derivatives	$	(64	)	$	(64	)	$	—	$	(64	)
Debt	$	(6,864	)	$	(8,131	)	$	—	$	(8,131	)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2018

Segment Reporting [Abstract]

Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments

	U.S.			Canada			Total
Three Months Ended September 30, 2018:
Revenues from external customers	$	2,156		$	423		$	2,579
Depreciation, depletion and amortization	$	342		$	74		$	416
Interest expense	$	78		$	8		$	86
Asset impairments	$	2		$	—		$	2
Asset dispositions	$	(6	)	$	—		$	(6	)
Restructuring and transaction costs	$	7		$	4		$	11
Earnings (loss) from continuing operations before income taxes	$	(11	)	$	173		$	162
Income tax expense (benefit)	$	(164	)	$	26		$	(138	)
Net earnings from continuing operations	$	153		$	147		$	300
Capital expenditures, including acquisitions	$	492		$	66		$	558
Three Months Ended September 30, 2017:
Revenues from external customers	$	1,575		$	358		$	1,933
Depreciation, depletion and amortization	$	278		$	92		$	370
Interest expense	$	82		$	3		$	85
Asset dispositions	$	(170	)	$	—		$	(170	)
Earnings from continuing operations before income taxes	$	145		$	62		$	207
Income tax expense (benefit)	$	(5	)	$	18		$	13
Net earnings from continuing operations	$	150		$	44		$	194
Capital expenditures, including acquisitions	$	482		$	95		$	577
Nine Months Ended September 30, 2018:
Revenues from external customers	$	5,957		$	1,069		$	7,026
Depreciation, depletion and amortization	$	989		$	246		$	1,235
Interest expense	$	397		$	153		$	550
Asset impairments	$	156		$	—		$	156
Asset dispositions	$	5		$	—		$	5
Restructuring and transaction costs	$	92		$	13		$	105
Earnings (loss) from continuing operations before income taxes	$	(598	)	$	34		$	(564	)
Income tax benefit	$	(150	)	$	(29	)	$	(179	)
Net earnings (loss) from continuing operations	$	(448	)	$	63		$	(385	)
Property and equipment, net	$	10,053		$	4,149		$	14,202
Total assets	$	15,104		$	5,068		$	20,172
Capital expenditures, including acquisitions	$	1,689		$	215		$	1,904
Nine Months Ended September 30, 2017:
Revenues from external customers	$	5,547		$	951		$	6,498
Depreciation, depletion and amortization	$	863		$	276		$	1,139
Interest expense	$	243		$	8		$	251
Asset dispositions	$	(199	)	$	(1	)	$	(200	)
Earnings from continuing operations before income taxes	$	668		$	59		$	727
Income tax expense	$	—		$	13		$	13
Net earnings from continuing operations	$	668		$	46		$	714
Property and equipment, net	$	10,110		$	4,321		$	14,431
Total continuing assets (1)	$	14,105		$	5,295		$	19,400
Capital expenditures, including acquisitions	$	1,213		$	248		$	1,461

(1)	Total assets in the table above do not include assets held for sale related to Devon’s discontinued operations, which totaled $10.5 billion on September 30, 2017.

Revenue Recognition (Schedule of Impact of Adoption) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Upstream revenues	$ 1,332	$ 1,101	$ 3,720	$ 3,974
Total impacted revenues	2,579	1,933	7,026	6,498
Production expenses	554	448	1,669	1,360
Total impacted expenses	1,771		4,919
Earnings (loss) from continuing operations before income taxes	162	207	(564)	727
Marketing [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	1,247	832	3,306	2,524
Expenses	1,217	$ 843	3,250	$ 2,571
Under ASC 605 [Member] \| Accounting Standards Update 2014-09
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Upstream revenues	1,268		3,529
Total impacted revenues	2,515		6,835
Production expenses	490		1,478
Total impacted expenses	1,707		4,728
Earnings (loss) from continuing operations before income taxes	162		(564)
Under ASC 605 [Member] \| Marketing [Member] \| Accounting Standards Update 2014-09
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Revenues	1,247		3,306
Expenses	1,217		3,250
Increase/(Decrease) of Under ASC 606 and Under ASC 605 [Member] \| Accounting Standards Update 2014-09
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Upstream revenues	64		191
Total impacted revenues	64		191
Production expenses	64		191
Total impacted expenses	$ 64		$ 191

Revenue Recognition (Narrative) (Details)	9 Months Ended
Revenue Recognition (Narrative) (Details)	Sep. 30, 2018
Upstream Revenues [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Number of days allowed for payment from end of production month	30 days
Marketing Revenues [Member]
Revenue Initial Application Period Cumulative Effect Transition [Line Items]
Number of days allowed for payment of invoiced amount	30 days

Revenue Recognition (Schedule of Revenue from Contracts with Customers that are Disaggregated Based on Type of Good or Service) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL derivatives	$ (276)	$ (144)	$ (814)	$ 214
Upstream revenues	1,332	1,101	3,720	3,974
Total revenues	2,579	1,933	7,026	6,498
Operating Segments [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL derivatives	(376)		(976)
Upstream revenues	934		2,717
Total revenues	2,156	1,575	5,957	5,547
Operating Segments [Member] \| Canada [Member]
Disaggregation Of Revenue [Line Items]
Oil, gas and NGL derivatives	100		162
Upstream revenues	398		1,003
Total revenues	423	$ 358	1,069	$ 951
Oil, Gas and NGL Sales [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,608		4,534
Oil, Gas and NGL Sales [Member] \| Oil [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,092		3,120
Oil, Gas and NGL Sales [Member] \| Gas [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	210		672
Oil, Gas and NGL Sales [Member] \| NGL [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	306		742
Oil, Gas and NGL Sales [Member] \| Operating Segments [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,310		3,693
Oil, Gas and NGL Sales [Member] \| Operating Segments [Member] \| Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	298		841
Oil, Gas and NGL Sales [Member] \| Operating Segments [Member] \| Oil [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	794		2,279
Oil, Gas and NGL Sales [Member] \| Operating Segments [Member] \| Oil [Member] \| Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	298		841
Oil, Gas and NGL Sales [Member] \| Operating Segments [Member] \| Gas [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	210		672
Oil, Gas and NGL Sales [Member] \| Operating Segments [Member] \| NGL [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	306		742
Marketing Revenues [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,247		3,306
Marketing Revenues [Member] \| Oil [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	775		2,113
Marketing Revenues [Member] \| Gas [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	191		506
Marketing Revenues [Member] \| NGL [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	281		687
Marketing Revenues [Member] \| Operating Segments [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	1,222		3,240
Marketing Revenues [Member] \| Operating Segments [Member] \| Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	25		66
Marketing Revenues [Member] \| Operating Segments [Member] \| Oil [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	750		2,047
Marketing Revenues [Member] \| Operating Segments [Member] \| Oil [Member] \| Canada [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	25		66
Marketing Revenues [Member] \| Operating Segments [Member] \| Gas [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	191		506
Marketing Revenues [Member] \| Operating Segments [Member] \| NGL [Member] \| U.S. [Member]
Disaggregation Of Revenue [Line Items]
Total revenues from contracts with customers	$ 281		$ 687

Divestitures (Narrative) (Details) - USD ($)	3 Months Ended					9 Months Ended
Divestitures (Narrative) (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2018
Business Acquisition [Line Items]
Gain on sale of aggregate ownership interest, before-tax			$ 2,607,000,000		$ (1,000,000)	$ 2,607,000,000	$ (1,000,000)
Divestitures of property and equipment							400,000,000
Gain recognized			6,000,000		$ 170,000,000	(5,000,000)	$ 200,000,000
Barnett Shale [Member]
Business Acquisition [Line Items]
Divestitures of property and equipment				$ 553,000,000
Percentage of proved reserves associated with divestiture assets compared to total estimated proved reserves				10.00%
Divestitures of property and equipment net of purchase price adjustments				$ 481,000,000
Gain recognized				0
Settlement expenses relating to gas processing contracts				$ 40,000,000
Scenario, Forecast [Member]
Business Acquisition [Line Items]
Divestitures of property and equipment	$ 100,000,000
Scenario, Forecast [Member] \| Delaware Basin and Barnett Shale [Member]
Business Acquisition [Line Items]
Divestitures of property and equipment		$ 320,000,000
Maximum [Member]
Business Acquisition [Line Items]
Percentage of proved reserves associated with divestiture assets compared to total estimated proved reserves							1.00%
EnLink and General Partner [Member]
Business Acquisition [Line Items]
Proceeds from sale of aggregate ownership interest			3,125,000,000
Gain on sale of aggregate ownership interest, after-tax			2,200,000,000
Gain on sale of aggregate ownership interest, before-tax			2,600,000,000
Share Repurchase Program [Member] \| Maximum [Member]
Business Acquisition [Line Items]
Share repurchase program, maximum authorized amount			$ 4,000,000,000.0			$ 4,000,000,000.0		$ 1,000,000,000.0

Derivative Financial Instruments (Schedule Of Open Oil Derivative Positions) (Details)	9 Months Ended
	Sep. 30, 2018 $ / bbl bbl
NYMEX West Texas Intermediate Price Swaps Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	93,800
Weighted Average Price Swap	58.95
NYMEX West Texas Intermediate Price Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	57,130
Weighted Average Price Swap	59.73
NYMEX West Texas Intermediate Price Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	1,740
Weighted Average Price Swap	62.88
NYMEX West Texas Intermediate Price Collars Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	110,200
Weighted Average Floor Price	53.95
Weighted Average Ceiling Price	64.49
NYMEX West Texas Intermediate Price Collars Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	79,904
Weighted Average Floor Price	54.23
Weighted Average Ceiling Price	64.23
NYMEX West Texas Intermediate Price Collars Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	1,989
Weighted Average Floor Price	57.86
Weighted Average Ceiling Price	67.86
Midland Sweet Basis Swaps Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	23,000
Weighted Average Differential To WTI	(1.02)
Midland Sweet Basis Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	28,000
Weighted Average Differential To WTI	(0.46)
Argus LLS Basis Swaps Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	12,000
Weighted Average Differential To WTI	3.95
Argus MEH Basis Swaps Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	16,000
Weighted Average Differential To WTI	2.84
NYMEX Roll Basis Swaps Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	27,000
Weighted Average Differential To WTI	0.58
Argus LLS Basis Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	14,000
Weighted Average Differential To WTI	4.82
Argus MEH Basis Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	16,000
Weighted Average Differential To WTI	2.84
Western Canadian Select Basis Swaps Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	62,109
Weighted Average Differential To WTI	(16.41)
NYMEX Roll Basis Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	38,000
Weighted Average Differential To WTI	0.45
Western Canadian Select Basis Swaps Oil Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	10,647
Weighted Average Differential To WTI	(23.39)
NYMEX Roll Basis Swaps Oil Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	38,000
Weighted Average Differential To WTI	0.31
Western Canadian Select Basis Collars Oil Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	1,326
Weighted Average Floor Differential to WTI	(15.50)
Weighted Average Ceiling Differential to WTI	(13.93)

Derivative Financial Instruments (Schedule Of Open Natural Gas Derivative Positions) (Details)	9 Months Ended
	Sep. 30, 2018 MMBTU $ / MMBTU
FERC Henry Hub Price Swaps Natural Gas Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	304,000
Weighted Average Price Swap	2.92
FERC Henry Hub Price Swaps Natural Gas Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	215,129
Weighted Average Price Swap	2.81
FERC Henry Hub Price Swaps Natural Gas Q1-Q4 2020 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	6,589
Weighted Average Price Swap	2.81
FERC Henry Hub Price Collars Natural Gas Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	267,000
Weighted Average Floor Price	2.76
Weighted Average Ceiling Price	3.09
FERC Henry Hub Price Collars Natural Gas Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	187,775
Weighted Average Floor Price	2.65
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	7,086
Weighted Average Floor Price	2.65
Weighted Average Ceiling Price	2.95
PEPL Basis Swaps Natural Gas Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	120,000
Weighted Average Differential To Henry Hub	(0.51)
PEPL Basis Swaps Natural Gas Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	74,384
Weighted Average Differential To Henry Hub	(0.75)
El Paso Natural Gas Basis Swaps Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	100,000
Weighted Average Differential To Henry Hub	(1.25)
El Paso Natural Gas Basis Swaps Q1-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 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	110,000
Weighted Average Differential To Henry Hub	0.01
Houston Ship Channel Natural Gas Basis Swaps Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	122,637
Transco Zone 4 Natural Gas Basis Swaps Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	30,000
Weighted Average Differential To Henry Hub	(0.03)
Transco Zone 4 Natural Gas Basis Swaps Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (MMBtu/d) \| MMBTU	7,397
Weighted Average Differential To Henry Hub	(0.03)

Derivative Financial Instruments (Schedule Of Open NGL Derivative Positions) (Details)	9 Months Ended
	Sep. 30, 2018 $ / bbl bbl
OPIS Mont Belvieu Texas Ethane Price Swaps NGL Q4 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	6,000
Weighted Average Price Swap \| $ / bbl	11.73
OPIS Mont Belvieu Texas Ethane Price Swaps NGL Q1-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 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	6,500
Weighted Average Price Swap \| $ / bbl	56.13
OPIS Mont Belvieu Texas Natural Gasoline Price Swaps NGL Q1-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 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	7,000
Weighted Average Price Swap \| $ / bbl	38.69
OPIS Mont Belvieu Texas Normal Butane Price Swaps NGL Q1-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 2018 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	12,000
Weighted Average Price Swap \| $ / bbl	33.72
OPIS Mont Belvieu Texas Propane Price Swaps NGL Q1-Q4 2019 [Member]
Derivative [Line Items]
Volume Per Day (Bbls/d) \| bbl	8,500
Weighted Average Price Swap \| $ / bbl	30.01

Derivative Financial Instruments (Schedule Of Open Interest Rate Swap Derivative Positions) (Details) - Interest Rate Contract 1.76% Expiration January 2019 [Member] $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($)
Derivative [Line Items]
Notional	$ 100
Rate Received, percent	1.76%
Rate Paid	Three Month LIBOR
Expiration	Jan. 31, 2019

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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ (276)	$ (148)	$ (750)	$ 198
Commodity Derivatives [Member] \| Upstream Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings	$ (276)	(144)	(814)	214
Commodity Derivatives [Member] \| Marketing Revenues [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings			(1)	3
Interest Rate Derivatives [Member] \| Other Expenses [Member]
Derivative [Line Items]
Net gains (losses) recognized in consolidated comprehensive statements of earnings		$ (4)	$ 65	$ (19)

Derivative Financial Instruments (Schedule Of Derivative Financial Instruments Included In The Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Derivatives Fair Value [Line Items]
Fair value of derivative assets	$ 184	$ 206
Fair value of derivative liabilities	869	350
Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	764	323
Commodity Derivatives [Member] \| Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	176	203
Commodity Derivatives [Member] \| Other Long-Term Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets	8	2
Commodity Derivatives [Member] \| Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	763	259
Commodity Derivatives [Member] \| Other Long-Term Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	105	27
Interest Rate Derivatives [Member] \| Other Current Assets [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative assets		1
Interest Rate Derivatives [Member] \| Other Current Liabilities [Member]
Derivatives Fair Value [Line Items]
Fair value of derivative liabilities	$ 1	$ 64

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, 2018	Sep. 30, 2017
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	$ 126	$ 113
Related income tax benefit	9	4
G&A [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	95	107
Exploration Expenses [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share-based compensation expense	3	$ 6
Restructuring and Transaction Costs [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Accelerated share-based compensation expense	$ 28

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, 2018

$ / shares

shares

Restricted Stock Awards And Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unvested at December 31, 2017 | shares

6,328

Granted, awards and units | shares

3,573

Vested, awards and units | shares

(3,045)

Forfeited, awards and units | shares

(753)

Unvested at September 30, 2018 | shares

6,103

Unvested weighted average grant-date fair value at December 31, 2017 | $ / shares

$ 36.81

Granted, weighted average grant-date fair value | $ / shares

36.00

Vested, weighted average grant-date fair value | $ / shares

38.76

Forfeited, weighted average grant-date fair value | $ / shares

35.56

Unvested weighted average grant-date fair value at September 30, 2018 | $ / shares

$ 35.52

Performance-Based Restricted Stock Awards [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unvested at December 31, 2017 | shares

575

Vested, awards and units | shares

(273)

Unvested at September 30, 2018 | shares

302

Unvested weighted average grant-date fair value at December 31, 2017 | $ / shares

$ 38.92

Vested, weighted average grant-date fair value | $ / shares

42.22

Unvested weighted average grant-date fair value at September 30, 2018 | $ / shares

$ 35.93

Performance Share Units [Member]

Share Based Compensation Arrangement By Share Based Payment Award [Line Items]

Unvested at December 31, 2017 | shares

2,758

Granted, awards and units | shares

845

Vested, awards and units | shares

(571)

Forfeited, awards and units | shares

(137)

Unvested at September 30, 2018 | shares

2,895

^[1]

Unvested weighted average grant-date fair value at December 31, 2017 | $ / shares

$ 41.21

Granted, weighted average grant-date fair value | $ / shares

37.40

Vested, weighted average grant-date fair value | $ / shares

84.22

Forfeited, weighted average grant-date fair value | $ / shares

34.04

Unvested weighted average grant-date fair value at September 30, 2018 | $ / shares

$ 30.17

[1]	A maximum of 5.8 million common shares could be awarded based upon Devon’s final TSR ranking relative to Devon’s peer group established under applicable award agreements.

Share-Based Compensation (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, 2018 shares
Performance Share Units [Member] \| Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Maximum common shares that could be awarded based upon total shareholder return	5.8

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, 2018 $ / shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 37.40
Risk-free interest rate	2.28%
Volatility factor	45.80%
Contractual term (years)	2 years 10 months 20 days
Minimum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 36.23
Maximum [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Grant-date fair value	$ 37.88

Share-Based Compensation (Summary of Unrecognized Compensation Cost And Weighted Average Period For Recognition) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2018 USD ($)
Restricted Stock Awards And Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 139
Weighted average period for recognition (years)	2 years 6 months
Performance-Based Restricted Stock Awards [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 1
Weighted average period for recognition (years)	1 year
Performance Share Units [Member]
Unrecognized Compensation And Weighted Average Recognition [Line Items]
Unrecognized compensation cost	$ 31
Weighted average period for recognition (years)	1 year 10 months 24 days

Asset Impairments (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments	$ 2	$ 156
Unproved Impairments [Member]
Impaired Long Lived Assets Held And Used [Line Items]
Asset impairments		76	$ 80
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

Restructuring and Transaction Costs and Other Expenses (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs	$ 11	$ 105
Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs		105
Expense associated with accelerated awards		28
Reduction of workforce [Member] \| Employee Related Costs [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs		102
Reduction of workforce [Member] \| Estimated Defined Benefit Settlements [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring and transaction costs		$ 15

Restructuring and Transaction Costs and Other Expenses (Schedule Of The Activity And Balances Associated With Restructuring Liabilities) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017
Restructuring Cost And Reserve [Line Items]
Beginning balance	$ 50	$ 110
Ending balance	76	56
Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	35
Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	(9)	(54)
Other Current Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	19	48
Ending balance	55	20
Other Current Liabilities [Member] \| Reduction of workforce [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	35
Other Current Liabilities [Member] \| Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	1	(28)
Other Long-Term Liabilities [Member]
Restructuring Cost And Reserve [Line Items]
Beginning balance	31	62
Ending balance	21	36
Other Long-Term Liabilities [Member] \| Prior years' restructurings [Member]
Restructuring Cost And Reserve [Line Items]
Restructuring reserve activity	$ (10)	$ (26)

Other Expenses (Schedule Of Other Expenses Presented In The Accompanying Consolidated Comprehensive Statements of Earnings) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Other Income And Expenses [Abstract]
Foreign exchange (gain) loss, net	$ (28)	$ (74)	$ 53	$ (138)
Asset retirement obligation accretion	14	16	44	47
Other, net	(17)	(12)	(83)	(1)
Total	$ (31)	$ (70)	$ 14	$ (92)

Other Expenses (Narrative) (Details) $ in Millions	9 Months Ended
Other Expenses (Narrative) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Other Income And Expenses [Abstract]
Foreign currency realized loss	$ (243)
Foreign currency unrealized losses	$ (195)

Income Taxes (Schedule Of Effective Income Tax Rate Reconciliation) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Current income tax expense (benefit)	$ (24)	$ 38	$ (47)	$ 70
Deferred income tax benefit	(114)	(25)	(132)	(57)
Total income tax expense (benefit)	$ (138)	$ 13	$ (179)	$ 13
U.S. statutory income tax rate	21.00%	35.00%	21.00%	35.00%
State income taxes	(5.00%)	0.00%	1.00%	1.00%
Change in unrecognized tax benefits	(13.00%)	4.00%	4.00%	1.00%
Other	(7.00%)	(19.00%)	(7.00%)	(7.00%)
Deferred tax asset valuation allowance	(81.00%)	(14.00%)	13.00%	(28.00%)
Effective income tax rate	(85.00%)	6.00%	32.00%	2.00%

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended	9 Months Ended		12 Months Ended
Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Income Tax [Line Items]
U.S. statutory income tax rate	21.00%		35.00%		21.00%	35.00%
Unrecognized tax benefits realized as a result of lapse of certain U.S. federal statues	$ 22
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%			100.00%
Gain on sale of aggregate ownership interest, before-tax	2,607		$ (1)		$ 2,607	$ (1)
Deferred tax benefit resulting from release of valuation allowance position; allocated to discontinued operations	259
Foreign earnings repatriated		$ 92
Current income tax expense	(24)		$ 38		(47)	$ 70
Repatriated Earnings [Member]
Income Tax [Line Items]
Current income tax expense		$ 0
U.S. [Member]
Income Tax [Line Items]
Change in deferred tax valuation allowance				$ 129
Canada [Member]
Income Tax [Line Items]
Change in deferred tax valuation allowance					$ (76)
EnLink and General Partner [Member]
Income Tax [Line Items]
Gain on sale of aggregate ownership interest, before-tax	$ 2,600

Net Earnings (Loss) Per Share from Continuing Operations (Earnings Per Share Computations from Continuing Operations) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Net earnings (loss) from continuing operations:

Attributable to participating securities

$ 300

$ 194

$ (385)

$ 714

(3)

(2)

(1)

(8)

Basic and diluted earnings (loss) from continuing operations

$ 297

$ 192

$ (386)

$ 706

Common shares:

Common shares outstanding - total

491

526

513

525

Attributable to participating securities

(5)

(6)

Common shares outstanding - basic

486

520

507

519

Dilutive effect of potential common shares issuable

3

Common shares outstanding - diluted

489

523

507

522

Net earnings (loss) per share from continuing operations:

Basic

$ 0.61

$ 0.37

$ (0.76)

$ 1.36

Diluted

$ 0.61

$ 0.37

$ (0.76)

$ 1.35

Antidilutive options

^[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 (Components Of Other Comprehensive Earnings) (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Dec. 31, 2017

Foreign currency translation:

Beginning accumulated foreign currency translation

$ 1,227

$ 1,262

$ 1,309

$ 1,226

Change in cumulative translation adjustment

35

58

(61)

108

Income tax benefit (expense)

(16)

14

(30)

Ending accumulated foreign currency translation

1,262

1,304

1,262

1,304

Pension and postretirement benefit plans:

Beginning accumulated pension and postretirement benefits

(136)

(163)

(143)

(172)

Recognition of net actuarial loss and prior service cost in earnings

^[1]

92

5

99

14

Curtailment and settlement of pension benefits

(34)

Income tax expense

(22)

Ending accumulated pension and postretirement benefits

(100)

(158)

(100)

(158)

Other

2

Accumulated other comprehensive earnings, net of tax

$ 1,164

$ 1,146

$ 1,164

$ 1,146

$ 1,166

[1]	These accumulated other comprehensive earnings components are included in the computation of net periodic benefit cost, which is a component of other expenses in the accompanying consolidated comprehensive statements of earnings. See Note 18 for additional details.

Supplemental Information To 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, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Changes in assets and liabilities, net
Accounts receivable	$ (65)	$ (102)	$ (216)	$ (28)
Other current assets	1	26	(94)	13
Other long-term assets	(3)	3	(84)	13
Accounts payable	14	29	96	97
Revenues and royalties payable	(12)	(30)	200	21
Other current liabilities	38	69	(25)	17
Other long-term liabilities	(24)	(7)	(36)	(12)
Total	(51)	(12)	(159)	121
Supplementary cash flow data - total operations:
Interest paid (net of capitalized interest)	61	$ 51	275	287
Income taxes paid (received)	$ 37		$ 31	$ (1)

Accounts Receivable (Schedule Of Components Of Accounts Receivable) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable [Line Items]
Joint interest billings	$ 176	$ 134
Other	117	29
Gross accounts receivable	1,235	1,000
Allowance for doubtful accounts	(9)	(11)
Net accounts receivable	1,226	989
Oil, Gas and NGL Sales [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	619	559
Marketing Revenues [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross accounts receivable	$ 323	$ 278

Property, Plant and Equipment - Table of Property and Equipment, net (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017	Sep. 30, 2017
Property and equipment:
Proved	$ 47,747	$ 47,295
Unproved and properties under development	2,409	2,457
Total oil and gas	50,156	49,752
Less accumulated DD&A	(37,100)	(36,434)
Oil and gas property and equipment, net	13,056	13,318
Other property and equipment	1,845	1,955
Less accumulated DD&A	(699)	(689)
Other property and equipment, net	1,146	1,266
Total property and equipment, net	$ 14,202	$ 14,584	$ 14,431

Other Current Liabilities (Schedule Of Other Current Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Other Liabilities, Current [Abstract]
Derivative liabilities	$ 869	$ 350
Accrued interest payable	109	96
Income taxes payable	23	144
Restructuring liabilities	55	19
Other	292	246
Other current liabilities	1,243	828
Other Current Liabilities [Member]
Other Liabilities, Current [Abstract]
Derivative liabilities	$ 764	$ 323

Debt And Related Expenses (Schedule Of Debt Instruments and Balances) (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2018

Dec. 31, 2017

Net discount on debentures and notes

^[1]

$ 257

$ 115

(24)

(30)

Debt issuance costs

(34)

(39)

Total debt

6,048

6,864

Total long-term debt

$ 5,791

6,749

8.25% Due July 1, 2018 [Member]

$ 20

Jul. 01, 2018

2.25% Due December 15, 2018 [Member]

8.25%

$ 95

Dec. 15, 2018

6.30% Due January 15, 2019 [Member]

2.25%

$ 162

$ 162

Jan. 15, 2019

4.00% Due July 15, 2021 [Member]

6.30%

$ 500

Jul. 15, 2021

3.25% due May 15, 2022 [Member]

4.00%

$ 1,000

May 15, 2022

5.85% due December 15, 2025 [Member]

3.25%

$ 485

Dec. 15, 2025

7.50% due September 15, 2027 [Member]

5.85%

$ 73

Sep. 15, 2027

7.875% due September 30, 2031 [Member]

7.50%

^[2]

$ 675

$ 1,059

Sep. 30, 2031

7.95% due April 15, 2032 [Member]

7.875%

^[2]

$ 366

$ 789

Apr. 15, 2032

5.60% due July 15, 2041 [Member]

7.95%

$ 1,250

Jul. 15, 2041

4.75% due May 15, 2042 [Member]

5.60%

$ 750

May 15, 2042

5.00% due June 15, 2045 [Member]

4.75%

$ 750

Jun. 15, 2045

5.00%

[1]	As of September 30, 2018, short-term debt consists of Devon’s $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019.
[2]	These senior notes were included in the 2018 tender offer repurchases discussed below.

Debt And Related Expenses (Schedule Of Debt Instruments and Balances) (Parenthetical) (Details) - USD ($)
$ in Millions

9 Months Ended

Sep. 30, 2018

Dec. 31, 2017

2.25% Due December 15, 2018 [Member]

^[1]

$ 257

$ 115

$ 95

2.25%

6.30% Due January 15, 2019 [Member]

Dec. 15, 2018

$ 162

6.30%

Pension Benefits [Member]

Jan. 15, 2019

[1]	As of September 30, 2018, short-term debt consists of Devon’s $95 million of 2.25% senior notes due December 15, 2018 and $162 million of 6.30% senior notes due January 15, 2019.

Debt And Related Expenses (Narrative) (Details) - USD ($)		1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 05, 2018	Jul. 31, 2018	Sep. 30, 2018	Mar. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Redemption of senior notes			$ 21,000,000		$ 828,000,000
Loss on early retirement of debt					(312,000,000)
Loss on early retirement of debt, cash retirement costs					$ 304,000,000
Senior Notes [Member]
Debt Instrument [Line Items]
Redemption of senior notes				$ 807,000,000
Loss on early retirement of debt				(312,000,000)
Loss on early retirement of debt, cash retirement costs				304,000,000
Loss on early retirement of debt, noncash charges				8,000,000
7.875% due September 30, 2031 [Member]
Debt Instrument [Line Items]
Debt interest rate, stated percentage			7.875%		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%	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]
Debt Instrument [Line Items]
Debt interest rate, stated percentage			8.25%		8.25%	8.25%
Debt, maturity date					Jul. 01, 2018
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%
2012 Senior Credit Facility [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity			$ 3,000,000,000.0		$ 3,000,000,000.0
Outstanding credit facility borrowings			$ 0		$ 0
Debt-to-capitalization ratio			0.215		0.215
Outstanding letters of credit			$ 50,000,000		$ 50,000,000
2018 Revolving Senior Credit Facility [Member] \| Subsequent Event [Member]
Debt Instrument [Line Items]
Credit Facility, borrowing capacity	$ 3,000,000,000.0
Credit facility maturity date	Oct. 05, 2023
Credit facility extension period description	The 2018 Senior Credit Facility matures on October 5, 2023, with the option to extend the maturity date by two additional one-year periods.
Maximum [Member] \| 2012 Senior Credit Facility [Member]
Debt Instrument [Line Items]
Debt-to-capitalization ratio			0.65		0.65

Debt And Related Expenses (Schedule of Net Financing Cost Components) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Debt Disclosure [Abstract]
Interest based on debt outstanding	$ 81	$ 97	$ 258	$ 292
Early retirement of debt			312
Capitalized interest	(6)	(18)	(41)	(50)
Other		(1)	(5)	(4)
Total net financing costs	$ 75	$ 78	$ 524	$ 238

Asset Retirement Obligations (Summary Of Changes In Asset Retirement Obligations) (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017	Dec. 31, 2017
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations as of beginning of period			$ 1,258	$ 1,138	$ 1,258
Liabilities incurred				32	30
Liabilities settled and divested				(83)	(53)
Revision of estimated obligation			$ (184)	23	(184)
Accretion expense on discounted obligation	$ 14	$ 16		44	47
Foreign currency translation adjustment				(14)	29
Asset retirement obligations as of end of period	1,140	1,127		1,140	1,127
Less current portion	37	41		37	41
Asset retirement obligations, long-term	$ 1,103	$ 1,086		$ 1,103	$ 1,086	$ 1,099

Asset Retirement Obligations (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Asset Retirement Obligations [Line Items]
Decrease in asset retirement obligation		$ 83	$ 53
Revision of estimated obligation	$ (184)	23	$ (184)
Asset Divestitures [Member]
Asset Retirement Obligations [Line Items]
Decrease in asset retirement obligation		$ 61

Retirement Plans (Narrative) (Details) $ in Millions	3 Months Ended
Retirement Plans (Narrative) (Details) $ in Millions	Sep. 30, 2018 USD ($)
Compensation And Retirement Disclosure [Abstract]
Decrease in pension assets and liabilities	$ 190
Percentage of decrease in pension plans obligations	15.00%
Settlement expense	$ 34

Retirement Plans (Schedule Of Net Periodic Benefit Cost For Pension And Postretirement Benefit Plans) (Details) - USD ($)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

Sep. 30, 2018

Sep. 30, 2017

Defined Benefit Plan Disclosure [Line Items]

Service cost

$ 2

$ 4

$ 8

$ 12

Interest cost

10

11

30

32

Expected return on plan assets

(11)

(14)

(39)

(41)

Amortization of prior service cost

^[1]

1

Net actuarial loss

^[1]

3

5

10

14

Net periodic benefit cost

^[2]

$ 4

$ 6

10

18

Postretirement Benefits [Member]

Defined Benefit Plan Disclosure [Line Items]

Amortization of prior service cost

^[1]

(1)

Net periodic benefit cost

^[2]

$ (1)

[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) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018
Stockholders Equity [Abstract]
Shares repurchased, value	$ 1,712						$ 2,233
Percentage of increase to quarterly dividend		33.00%
Common stock dividends, rate per share	$ 0.08	$ 0.08	$ 0.06	$ 0.06	$ 0.06	$ 0.06
Share Repurchase Program [Member]
Stockholders Equity [Abstract]
Share-repurchase program, additional authorized amount		$ 3,000
Share-repurchase program expiration date							Dec. 31, 2019
Share Repurchase Program [Member] \| Maximum [Member]
Stockholders Equity [Abstract]
Share-repurchase program, authorized amount	$ 4,000		$ 1,000				$ 4,000
ASR Transaction [Member]
Stockholders Equity [Abstract]
Shares repurchased, value	$ 1,000

Stockholders' Equity (Summary of Purchases of Common Stock) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2018
Stockholders Equity [Line Items]
Total Number of Shares Purchased	40,822			54,537
Dollar Value of Shares Purchased	$ 1,712			$ 2,233
Average Price Paid per Share	$ 41.92			$ 40.94
Open-Market [Member]
Stockholders Equity [Line Items]
Total Number of Shares Purchased	16,492	11,154	2,561
Dollar Value of Shares Purchased	$ 712	$ 439	$ 82
Average Price Paid per Share	$ 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 Of Dividends Paid On Common Stock) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Sep. 30, 2018	Sep. 30, 2017
Stockholders Equity Note [Abstract]
Common stock dividends paid, Amount	$ 38	$ 42	$ 32	$ 30	$ 33	$ 32	$ 112	$ 95
Common stock dividends, rate per share	$ 0.08	$ 0.08	$ 0.06	$ 0.06	$ 0.06	$ 0.06

Discontinued Operations (Narrative) (Details) - USD ($) $ in Millions	2 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Gain on sale of aggregate ownership interest, before-tax		$ 2,607	$ (1)	$ 2,607	$ (1)
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, 2018
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]
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items]
Proceeds from sale of aggregate ownership interest		$ 3,125
Gain on sale of aggregate ownership interest, before-tax		2,600
Gain on sale of aggregate ownership interest, after-tax		2,200
Cash income taxes		$ 12
Net cash outflows	$ 200
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

Discontinued Operations (Consolidated Comprehensive Statement of Earnings as Discontinued Operations) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2018	Sep. 30, 2017	Sep. 30, 2018	Sep. 30, 2017
Discontinued Operations And Disposal Groups [Abstract]
Marketing and midstream revenues	$ 360	$ 1,223	$ 3,567	$ 3,468
Marketing and midstream expenses	302	981	2,912	2,781
Depreciation, depletion and amortization		142	244	407
General and administrative expenses	7	31	65	98
Financing costs, net	9	50	98	134
Asset dispositions	(2,607)	1	(2,607)	1
Other expenses	(1)	(2)	(8)	(22)
Total expenses	(2,290)	1,203	704	3,399
Earnings from discontinued operations before income taxes	2,650	20	2,863	69
Income tax expense	387	2	403	9
Net earnings from discontinued operations, net of income tax expense	2,263	18	2,460	60
Net earnings attributable to noncontrolling interests	26	19	160	59
Net earnings (loss) from discontinued operations attributable to Devon	$ 2,237	$ (1)	$ 2,300	$ 1

Discontinued Operations (Carrying Amounts of Assets and Liabilities Classified as Held for Sale on Consolidated Balance Sheets) (Details) - USD ($) $ in Millions	Dec. 31, 2017	Sep. 30, 2017
Disposal Group Including Discontinued Operation Balance Sheet Disclosures [Abstract]
Cash and cash equivalents	$ 31	$ 142
Accounts receivable	681
Other current assets	48
Midstream and other property and equipment, net	6,587
Goodwill	1,542
Other long-term assets	1,600
Total assets held for sale	10,489	$ 10,500
Accounts payable	186
Revenues and royalties payable	432
Other current liabilities	373
Long-term debt	3,542
Deferred income taxes	346
Other long-term liabilities	48
Total liabilities held for sale	$ 4,927

Discontinued Operations (Schedule of Minimum Volume Commitments) (Details)	9 Months Ended
	Sep. 30, 2018 MMcf
Bridgeport Gathering and Processing Contract [Member]
Supply Commitment [Line Items]
Minimum Gathering Volume Commitment (MMcf/d)	850
Minimum Processing Volume Commitment (MMcf/d)	650
Cana Gathering and Processing Contract [Member]
Supply Commitment [Line Items]
Minimum Gathering Volume Commitment (MMcf/d)	330
Minimum Processing Volume Commitment (MMcf/d)	330
Chisholm Gathering and Processing Contract [Member] \| Minimum [Member]
Supply Commitment [Line Items]
Minimum Gathering Volume Commitment (MMcf/d)	77
Minimum Processing Volume Commitment (MMcf/d)	77
Chisholm Gathering and Processing Contract [Member] \| Maximum [Member]
Supply Commitment [Line Items]
Minimum Gathering Volume Commitment (MMcf/d)	128
Minimum Processing Volume Commitment (MMcf/d)	128

Fair Value Measurements (Schedule Of Carrying Value And Fair Value Measurement Information For Financial Assets And Liabilities) (Details) - USD ($) $ in Millions	Sep. 30, 2018	Dec. 31, 2017
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	$ 184	$ 206
Derivatives, liabilities	(869)	(350)
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,216	1,533
Debt	(6,048)	(6,864)
Carrying Amount [Member] \| Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	184	205
Derivatives, liabilities	(868)	(286)
Carrying Amount [Member] \| Interest Rate Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets		1
Derivatives, liabilities	(1)	(64)
Total Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,216	1,533
Debt	(6,458)	(8,131)
Total Fair Value [Member] \| Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	184	205
Derivatives, liabilities	(868)	(286)
Total Fair Value [Member] \| Interest Rate Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets		1
Derivatives, liabilities	(1)	(64)
Level 1 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	2,216	1,454
Level 2 Inputs [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents		79
Debt	(6,458)	(8,131)
Level 2 Inputs [Member] \| Commodity Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets	184	205
Derivatives, liabilities	(868)	(286)
Level 2 Inputs [Member] \| Interest Rate Derivatives [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivatives, assets		1
Derivatives, liabilities	$ (1)	$ (64)

Segment Information (Condensed Statements Of Comprehensive Earnings And Balance Sheets Of Reportable Segments) (Details)
$ in Millions

3 Months Ended

9 Months Ended

Sep. 30, 2018

USD ($)

Sep. 30, 2017

USD ($)

Sep. 30, 2018

USD ($)

segment

Sep. 30, 2017

USD ($)

Dec. 31, 2017

USD ($)

Revenues from external customers

$ 2,579

$ 1,933

$ 7,026

$ 6,498

Depreciation, depletion and amortization

416

370

1,235

1,139

Interest expense

86

85

550

251

Asset impairments

2

156

Asset dispositions

(6)

(170)

5

(200)

Restructuring and transaction costs

11

105

Earnings (loss) from continuing operations before income taxes

162

207

(564)

727

Income tax expense (benefit)

(138)

13

(179)

13

Property and equipment, net

300

194

(385)

714

14,202

14,431

14,202

14,431

$ 14,584

Capital expenditures, including acquisitions

20,172

$ 30,241

558

577

1,904

1,461

Continuing Operations [Member]

^[1]

20,172

19,400

$ 20,172

19,400

United States [Member]

Number of reportable segments | segment

1

United States [Member] | Operating Segments [Member]

Revenues from external customers

2,156

1,575

$ 5,957

5,547

Depreciation, depletion and amortization

342

278

989

863

Interest expense

78

82

397

243

Asset impairments

2

156

Asset dispositions

(6)

(170)

5

(199)

Restructuring and transaction costs

7

92

Earnings (loss) from continuing operations before income taxes

(11)

145

(598)

668

Income tax expense (benefit)

(164)

(5)

(150)

Property and equipment, net

153

150

(448)

668

10,053

10,110

10,053

10,110

Capital expenditures, including acquisitions

492

482

1,689

1,213

United States [Member] | Operating Segments [Member] | Continuing Operations [Member]

Canada [Member] | Operating Segments [Member]

^[1]

15,104

14,105

15,104

14,105

Revenues from external customers

423

358

1,069

951

Depreciation, depletion and amortization

74

92

246

276

Interest expense

8

3

153

8

Asset dispositions

(1)

Restructuring and transaction costs

4

13

Earnings (loss) from continuing operations before income taxes

173

62

34

59

Income tax expense (benefit)

26

18

(29)

13

Property and equipment, net

147

44

63

46

4,149

4,321

4,149

4,321

Capital expenditures, including acquisitions

66

95

215

248

Canada [Member] | Operating Segments [Member] | Continuing Operations [Member]