Investor Presentaiton
Investor Contacts & Notices
Investor Relations Contacts
Scott Coody
VP, Investor Relations
405-552-4735
Email: [email protected]
Investor Notices
Forward-Looking Statements
Chris Carr
Manager, Investor Relations
405-228-2496
This communication includes "forward-looking statements" within the
meaning of the federal securities laws. Such statements include those
concerning strategic plans, our expectations and objectives for future
operations, as well as other future events or conditions, and are often
identified by use of the words and phrases "expects," "believes," "will,"
"would," "could," "continue," "may," "aims," "likely to be," "intends,"
"forecasts," "projections," "estimates," "plans," "expectations," "targets,"
"opportunities," "potential," "anticipates," "outlook" and other similar
terminology. All statements, other than statements of historical facts,
included in this communication that address activities, events or
developments that Devon expects, believes or anticipates will or may
occur in the future are forward-looking statements. Such statements are
subject to a number of assumptions, risks and uncertainties, many of
which are beyond our control. Consequently, actual future results could
differ materially and adversely from our expectations due to a number of
factors, including, but not limited to: the volatility of oil, gas and NGL
prices; risks relating to the COVID-19 pandemic or other future
pandemics; uncertainties inherent in estimating oil, gas and NGL reserves;
the extent to which we are successful in acquiring and discovering
additional reserves; the uncertainties, costs and risks involved in our
operations, including as a result of employee misconduct; regulatory
restrictions, compliance costs and other risks relating to governmental regulation, including with respect to environmental matters; risks
related to regulatory, social and market efforts to address climate change; risks related to our hedging activities; counterparty credit risks;
risks relating to our indebtedness; cyberattack risks; our limited control over third parties who operate some of our oil and gas properties;
midstream capacity constraints and potential interruptions in production; the extent to which insurance covers any losses we may experience;
competition for assets, materials, people and capital; risks related to investors attempting to effect change; our ability to successfully
complete mergers, acquisitions and divestitures; risks related to the recent merger with WPX, including the risk that we may not realize the
anticipated benefits of the merger or successfully integrate the two legacy businesses; and any of the other risks and uncertainties discussed
in Devon's 2021 Annual Report on Form 10-K (the "2021 Form 10-K") or other SEC filings.
The forward-looking statements included in this communication speak only as of the date of this communication, represent current
reasonable management's expectations as of the date of this communication and are subject to the risks and uncertainties identified above as
well as those described in the 2021 Form 10-K and in other documents we file from time to time with the SEC. We cannot guarantee the
accuracy of our forward-looking statements, and readers are urged to carefully review and consider the various disclosures made in the 2021
Form 10-K and in other documents we file from time to time with the SEC. All subsequent written and oral forward-looking statements
attributable to Devon, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. We do not
undertake, and expressly disclaim, any duty to update or revise our forward-looking statements based on new information, future events or
otherwise.
Use of Non-GAAP Information
This presentation may include non-GAAP (generally accepted accounting principles) financial measures. Such non-GAAP measures are not
alternatives to GAAP measures, and you should not consider these non-GAAP measures in isolation or as a substitute for analysis of our
results as reported under GAAP. For additional disclosure regarding such non-GAAP measures, including reconciliations to their most directly
comparable GAAP measure, please refer to Devon's first-quarter 2022 earnings materials and related Form 10-Q filed with the SEC.
Cautionary Note on Reserves and Resource Estimates
The SEC permits oil and gas companies, in their filings with the SEC, to disclose only proved, probable and possible reserves. Any reserve
estimates provided in this presentation that are not specifically designated as being estimates of proved reserves may include estimated
reserves or locations not necessarily calculated in accordance with, or contemplated by, the SEC's latest reserve reporting guidelines. You are
urged to consider closely the oil and gas disclosures in the 2021 Form 10-K and our other reports and filings with the SEC.
| Q1 2022 Earnings Presentation
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