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These excerpts taken from the DVN 10-K filed Feb 27, 2009. Insurance
Does Not Cover All Risks
Exploration, development, production and processing of oil, gas
and NGLs can be hazardous and involve unforeseen occurrences
such as hurricanes, blowouts, cratering, fires and loss of well
control. These occurrences can result in damage to or
destruction of wells or production facilities, injury to
persons, loss of life, or damage to property or the environment.
We maintain insurance against certain losses or liabilities in
accordance with customary industry practices and in amounts that
management believes to be prudent. However, insurance against
all operational risks is not available to us. Due to changes in
the insurance marketplace following hurricanes in the Gulf of
Mexico in recent years, we currently do not have coverage for
any damage that may be caused by future named windstorms in the
Gulf of Mexico.
Insurance
Does Not Cover All Risks
Exploration, development, production and processing of oil, gas
and NGLs can be hazardous and involve unforeseen occurrences
such as hurricanes, blowouts, cratering, fires and loss of well
control. These occurrences can result in damage to or
destruction of wells or production facilities, injury to
persons, loss of life, or damage to property or the environment.
We maintain insurance against certain losses or liabilities in
accordance with customary industry practices and in amounts that
management believes to be prudent. However, insurance against
all operational risks is not available to us. Due to changes in
the insurance marketplace following hurricanes in the Gulf of
Mexico in recent years, we currently do not have coverage for
any damage that may be caused by future named windstorms in the
Gulf of Mexico.
Insurance Does Not Cover All Risks Exploration, development, production and processing of oil, gas and NGLs can be hazardous and involve unforeseen occurrences such as hurricanes, blowouts, cratering, fires and loss of well control. These occurrences can result in damage to or destruction of wells or production facilities, injury to persons, loss of life, or damage to property or the environment. We maintain insurance against certain losses or liabilities in accordance with customary industry practices and in amounts that management believes to be prudent. However, insurance against all operational risks is not available to us. Due to changes in the insurance marketplace following hurricanes in the Gulf of Mexico in recent years, we currently do not have coverage for any damage that may be caused by future named windstorms in the Gulf of Mexico. Insurance Does Not Cover All Risks Exploration, development, production and processing of oil, gas and NGLs can be hazardous and involve unforeseen occurrences such as hurricanes, blowouts, cratering, fires and loss of well control. These occurrences can result in damage to or destruction of wells or production facilities, injury to persons, loss of life, or damage to property or the environment. We maintain insurance against certain losses or liabilities in accordance with customary industry practices and in amounts that management believes to be prudent. However, insurance against all operational risks is not available to us. Due to changes in the insurance marketplace following hurricanes in the Gulf of Mexico in recent years, we currently do not have coverage for any damage that may be caused by future named windstorms in the Gulf of Mexico. These excerpts taken from the DVN 10-K filed Jun 9, 2008. Insurance
Does Not Cover All Risks
Exploration, development, production and processing of oil,
natural gas and NGLs can be hazardous and involve unforeseen
occurrences such as hurricanes, blowouts, cratering, fires and
loss of well control. These occurrences can result in damage to
or destruction of wells or production facilities, injury to
persons, loss of life, or damage to property or the environment.
We maintain insurance against certain losses or liabilities in
accordance with customary industry practices and in amounts that
management believes to be prudent. However, insurance against
all operational risks is not available to us. Due to changes in
the insurance marketplace following the 2005 hurricanes in the
Gulf of Mexico, we currently have only a de minimis
amount of coverage for any damage that may be caused by
future named windstorms in the Gulf of Mexico.
Insurance Does Not Cover All Risks Exploration, development, production and processing of oil, natural gas and NGLs can be hazardous and involve unforeseen occurrences such as hurricanes, blowouts, cratering, fires and loss of well control. These occurrences can result in damage to or destruction of wells or production facilities, injury to persons, loss of life, or damage to property or the environment. We maintain insurance against certain losses or liabilities in accordance with customary industry practices and in amounts that management believes to be prudent. However, insurance against all operational risks is not available to us. Due to changes in the insurance marketplace following the 2005 hurricanes in the Gulf of Mexico, we currently have only a de minimis amount of coverage for any damage that may be caused by future named windstorms in the Gulf of Mexico. These excerpts taken from the DVN 10-K filed Feb 28, 2008. Insurance
Does Not Cover All Risks
Exploration, development, production and processing of oil,
natural gas and NGLs can be hazardous and involve unforeseen
occurrences such as hurricanes, blowouts, cratering, fires and
loss of well control. These occurrences can result in damage to
or destruction of wells or production facilities, injury to
persons, loss of life, or damage to property or the environment.
We maintain insurance against certain losses or liabilities in
accordance with customary industry practices and in amounts that
management believes to be prudent. However, insurance against
all operational risks is not available to us. Due to changes in
the insurance marketplace following the 2005 hurricanes in the
Gulf of Mexico, we currently have only a de minimis
amount of coverage for any damage that may be caused by
future named windstorms in the Gulf of Mexico.
Insurance Does Not Cover All Risks Exploration, development, production and processing of oil, natural gas and NGLs can be hazardous and involve unforeseen occurrences such as hurricanes, blowouts, cratering, fires and loss of well control. These occurrences can result in damage to or destruction of wells or production facilities, injury to persons, loss of life, or damage to property or the environment. We maintain insurance against certain losses or liabilities in accordance with customary industry practices and in amounts that management believes to be prudent. However, insurance against all operational risks is not available to us. Due to changes in the insurance marketplace following the 2005 hurricanes in the Gulf of Mexico, we currently have only a de minimis amount of coverage for any damage that may be caused by future named windstorms in the Gulf of Mexico. This excerpt taken from the DVN 10-K filed Feb 28, 2007. Insurance
Does Not Cover All Risks
Exploration, development, production and processing of oil,
natural gas and NGLs can be hazardous and involve unforeseen
occurrences such as hurricanes, blowouts, cratering, fires and
loss of well control. These occurrences can result in damage to
or destruction of wells or production facilities, injury to
persons, loss of life, or damage to property or the environment.
We maintain insurance against certain losses or liabilities in
accordance with customary industry practices and in amounts that
management believes to be prudent. However, insurance against
all operational risks is not available to us. Due to changes in
the marketplace following the 2005 hurricanes in the Gulf of
Mexico, we currently have only a de minimis amount of
coverage for any damage that may be caused by future named
windstorms in the Gulf of Mexico.
Not applicable.
Substantially all of our properties consist of interests in
developed and undeveloped oil and gas leases and mineral acreage
located in our core operating areas. These interests entitle us
to drill for and produce oil, natural gas and NGLs from specific
areas. Our interests are mostly in the form of working interests
and, to a lesser extent, overriding royalty, mineral and net
profits interests, foreign government concessions and other
forms of direct and indirect ownership in oil and gas properties.
We also have certain midstream assets, including natural gas and
NGL processing plants and pipeline systems. Our most significant
midstream assets are our assets serving the Barnett Shale region
in North Texas. These assets include approximately
2,700 miles of pipeline, two gas processing plants with
680 MMcf per day of total capacity, and a 15 MBbls per
day NGL fractionator.
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