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These excerpts taken from the DVN 10-K filed Jun 9, 2008. Estimates
of Oil, Natural Gas and NGL Reserves are Uncertain
The process of estimating oil, gas and NGL reserves is complex
and requires significant judgment in the evaluation of available
geological, engineering and economic data for each reservoir,
particularly for new discoveries. Because of the high degree of
judgment involved, different reserve engineers may develop
different estimates of reserve quantities and related revenue
based on the same data. In addition, the reserve estimates for a
given reservoir may change substantially over time as a result
of several factors including additional development activity,
the viability of production under varying economic conditions
and variations in production levels and associated costs.
Consequently, material revisions to existing reserve estimates
may occur as a result of changes in any of these factors. Such
revisions to proved reserves could have a material adverse
effect on our estimates of future net revenue, as well as our
financial condition and profitability. Additional discussion of
our policies regarding estimating and recording reserves is
described in “Item 2. Properties — Proved
Reserves and Estimated Future Net Revenue.”
Estimates of Oil, Natural Gas and NGL Reserves are Uncertain The process of estimating oil, gas and NGL reserves is complex and requires significant judgment in the evaluation of available geological, engineering and economic data for each reservoir, particularly for new discoveries. Because of the high degree of judgment involved, different reserve engineers may develop different estimates of reserve quantities and related revenue based on the same data. In addition, the reserve estimates for a given reservoir may change substantially over time as a result of several factors including additional development activity, the viability of production under varying economic conditions and variations in production levels and associated costs. Consequently, material revisions to existing reserve estimates may occur as a result of changes in any of these factors. Such revisions to proved reserves could have a material adverse effect on our estimates of future net revenue, as well as our financial condition and profitability. Additional discussion of our policies regarding estimating and recording reserves is described in “Item 2. Properties — Proved Reserves and Estimated Future Net Revenue.” These excerpts taken from the DVN 10-K filed Feb 28, 2008. Estimates
of Oil, Natural Gas and NGL Reserves are Uncertain
The process of estimating oil, gas and NGL reserves is complex
and requires significant judgment in the evaluation of available
geological, engineering and economic data for each reservoir,
particularly for new discoveries. Because of the high degree of
judgment involved, different reserve engineers may develop
different estimates of reserve quantities and related revenue
based on the same data. In addition, the reserve estimates for a
given reservoir may change substantially over time as a result
of several factors including additional development activity,
the viability of production under varying economic conditions
and variations in production levels and associated costs.
Consequently, material revisions to existing reserve estimates
may occur as a result of changes in any of these factors. Such
revisions to proved reserves could have a material adverse
effect on our estimates of future net revenue, as well as our
financial condition and profitability. Additional discussion of
our policies regarding estimating and recording reserves is
described in “Item 2. Properties — Proved
Reserves and Estimated Future Net Revenue.”
Estimates of Oil, Natural Gas and NGL Reserves are Uncertain The process of estimating oil, gas and NGL reserves is complex and requires significant judgment in the evaluation of available geological, engineering and economic data for each reservoir, particularly for new discoveries. Because of the high degree of judgment involved, different reserve engineers may develop different estimates of reserve quantities and related revenue based on the same data. In addition, the reserve estimates for a given reservoir may change substantially over time as a result of several factors including additional development activity, the viability of production under varying economic conditions and variations in production levels and associated costs. Consequently, material revisions to existing reserve estimates may occur as a result of changes in any of these factors. Such revisions to proved reserves could have a material adverse effect on our estimates of future net revenue, as well as our financial condition and profitability. Additional discussion of our policies regarding estimating and recording reserves is described in “Item 2. Properties — Proved Reserves and Estimated Future Net Revenue.” This excerpt taken from the DVN 10-K filed Feb 28, 2007. Estimates
of Oil, Natural Gas and NGL Reserves are Uncertain
The process of estimating oil, gas and NGL reserves is complex
and requires significant judgment in the evaluation of available
geological, engineering and economic data for each reservoir,
particularly for new discoveries. Because of the high degree of
judgment involved, different reserve engineers may develop
different estimates of reserve quantities and related revenue
based on the same data. In addition, the reserve
Table of Contents
estimates for a given reservoir may change substantially over
time as a result of several factors including additional
development activity, the viability of production under varying
economic conditions and variations in production levels and
associated costs. Consequently, material revisions to existing
reserve estimates may occur as a result of changes in any of
these factors. Such revisions to proved reserves could have a
material adverse effect on our estimates of future net revenue,
as well as our financial condition and profitability. Additional
discussion of our policies regarding estimating and recording
reserves is described in “Item 2.
Properties — Proved Reserves and Estimated Future Net
Revenue.”
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