Stock Analysis on Net

Devon Energy Corp. (NYSE:DVN)

This company has been moved to the archive! The financial data has not been updated since November 8, 2023.

Analysis of Property, Plant and Equipment

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Property, Plant and Equipment Disclosure

Devon Energy Corp., balance sheet: property, plant and equipment

US$ in millions

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Proved 42,734 38,051 27,589 27,668 46,805
Unproved and properties under development 1,548 1,081 392 583 2,267
Oil and gas 44,282 39,132 27,981 28,251 49,072
Other property and equipment 2,280 2,139 1,737 1,725 1,832
Property and equipment, gross 46,562 41,271 29,718 29,976 50,904
Accumulated DD&A (28,456) (26,263) (24,325) (21,383) (36,969)
Property and equipment, net 18,106 15,008 5,393 8,593 13,935

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Item Description The company
Property and equipment, gross Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Devon Energy Corp. property and equipment, gross increased from 2020 to 2021 and from 2021 to 2022.
Property and equipment, net Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Devon Energy Corp. property and equipment, net increased from 2020 to 2021 and from 2021 to 2022.

Asset Age Ratios (Summary)

Devon Energy Corp., asset age ratios

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Average age ratio 61.11% 63.64% 81.85% 71.33% 72.62%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

Asset age ratio Description The company
Average age ratio As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Devon Energy Corp. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022.

Average Age

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Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Selected Financial Data (US$ in millions)
Accumulated DD&A 28,456 26,263 24,325 21,383 36,969
Property and equipment, gross 46,562 41,271 29,718 29,976 50,904
Asset Age Ratio
Average age1 61.11% 63.64% 81.85% 71.33% 72.62%

Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).

2022 Calculations

1 Average age = 100 × Accumulated DD&A ÷ Property and equipment, gross
= 100 × 28,456 ÷ 46,562 = 61.11%

Asset age ratio Description The company
Average age As long as straight-line depreciation is used, this is an accurate estimate of asset age as a percentage of depreciable life. The relative age is a useful measure of whether the company fixed asset base is old or new. Newer assets are likely to be more efficient. Devon Energy Corp. average age ratio of depreciable property, plant and equipment improved from 2020 to 2021 and from 2021 to 2022.