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DVN » Topics » International Operations Have Uncertain Political, Economic and Other Risks

These excerpts taken from the DVN 10-K filed Feb 27, 2009.
International Operations Have Uncertain Political, Economic and Other Risks
 
Our operations outside North America are based primarily in Azerbaijan, Brazil and China. We face political and economic risks and other uncertainties in these areas that are more prevalent than what exist for our operations in North America. Such factors include, but are not limited to:
 
  •  general strikes and civil unrest;
 
  •  the risk of war, acts of terrorism, expropriation, forced renegotiation or modification of existing contracts;
 
  •  import and export regulations;
 
  •  taxation policies, including royalty and tax increases and retroactive tax claims, and investment restrictions;
 
  •  transportation regulations and tariffs;
 
  •  exchange controls, currency fluctuations, devaluation or other activities that limit or disrupt markets and restrict payments or the movement of funds;
 
  •  laws and policies of the United States affecting foreign trade, including trade sanctions;
 
  •  the possibility of being subject to exclusive jurisdiction of foreign courts in connection with legal disputes relating to licenses to operate and concession rights in countries where we currently operate;
 
  •  the possible inability to subject foreign persons to the jurisdiction of courts in the United States; and
 
  •  difficulties enforcing our rights against a governmental agency because of the doctrine of sovereign immunity and foreign sovereignty over international operations.
 
Foreign countries have occasionally asserted rights to oil and gas properties through border disputes. If a country claims superior rights to oil and gas leases or concessions granted to us by another country, our interests could decrease in value or be lost. Even our smaller international assets may affect our overall business and results of operations by distracting management’s attention from our more significant assets. Various regions of the world have a history of political and economic instability. This instability could result in new governments or the adoption of new policies that might result in a substantially more hostile attitude toward foreign investment. In an extreme case, such a change could result in termination of contract rights and expropriation of foreign-owned assets. This could adversely affect our interests and our future profitability.
 
The impact that future terrorist attacks or regional hostilities may have on the oil and gas industry in general, and on our operations in particular, is not known at this time. Uncertainty surrounding military strikes or a sustained military campaign may affect our operations in unpredictable ways, including disruptions of fuel supplies and markets, particularly oil, and the possibility that infrastructure facilities, including pipelines, production facilities, processing plants and refineries, could be direct targets of, or indirect casualties of, an act of terror or war. We may be required to incur significant costs in the future to safeguard our assets against terrorist activities.
 
International Operations Have Uncertain Political, Economic and Other Risks
 
Our operations outside North America are based primarily in Azerbaijan, Brazil and China. We face political and economic risks and other uncertainties in these areas that are more prevalent than what exist for our operations in North America. Such factors include, but are not limited to:
 
  •  general strikes and civil unrest;
 
  •  the risk of war, acts of terrorism, expropriation, forced renegotiation or modification of existing contracts;
 
  •  import and export regulations;
 
  •  taxation policies, including royalty and tax increases and retroactive tax claims, and investment restrictions;
 
  •  transportation regulations and tariffs;
 
  •  exchange controls, currency fluctuations, devaluation or other activities that limit or disrupt markets and restrict payments or the movement of funds;
 
  •  laws and policies of the United States affecting foreign trade, including trade sanctions;
 
  •  the possibility of being subject to exclusive jurisdiction of foreign courts in connection with legal disputes relating to licenses to operate and concession rights in countries where we currently operate;
 
  •  the possible inability to subject foreign persons to the jurisdiction of courts in the United States; and
 
  •  difficulties enforcing our rights against a governmental agency because of the doctrine of sovereign immunity and foreign sovereignty over international operations.
 
Foreign countries have occasionally asserted rights to oil and gas properties through border disputes. If a country claims superior rights to oil and gas leases or concessions granted to us by another country, our interests could decrease in value or be lost. Even our smaller international assets may affect our overall business and results of operations by distracting management’s attention from our more significant assets. Various regions of the world have a history of political and economic instability. This instability could result in new governments or the adoption of new policies that might result in a substantially more hostile attitude toward foreign investment. In an extreme case, such a change could result in termination of contract rights and expropriation of foreign-owned assets. This could adversely affect our interests and our future profitability.
 
The impact that future terrorist attacks or regional hostilities may have on the oil and gas industry in general, and on our operations in particular, is not known at this time. Uncertainty surrounding military strikes or a sustained military campaign may affect our operations in unpredictable ways, including disruptions of fuel supplies and markets, particularly oil, and the possibility that infrastructure facilities, including pipelines, production facilities, processing plants and refineries, could be direct targets of, or indirect casualties of, an act of terror or war. We may be required to incur significant costs in the future to safeguard our assets against terrorist activities.
 
International
Operations Have Uncertain Political, Economic and Other
Risks


 





Our operations outside North America are based primarily in
Azerbaijan, Brazil and China. We face political and economic
risks and other uncertainties in these areas that are more
prevalent than what exist for our operations in North America.
Such factors include, but are not limited to:


 






























































































































  • 
general strikes and civil unrest;
 
  • 
the risk of war, acts of terrorism, expropriation, forced
renegotiation or modification of existing contracts;
 
  • 
import and export regulations;
 
  • 
taxation policies, including royalty and tax increases and
retroactive tax claims, and investment restrictions;
 
  • 
transportation regulations and tariffs;
 
  • 
exchange controls, currency fluctuations, devaluation or other
activities that limit or disrupt markets and restrict payments
or the movement of funds;
 
  • 
laws and policies of the United States affecting foreign trade,
including trade sanctions;
 
  • 
the possibility of being subject to exclusive jurisdiction of
foreign courts in connection with legal disputes relating to
licenses to operate and concession rights in countries where we
currently operate;
 
  • 
the possible inability to subject foreign persons to the
jurisdiction of courts in the United States; and
 
  • 
difficulties enforcing our rights against a governmental agency
because of the doctrine of sovereign immunity and foreign
sovereignty over international operations.


 





Foreign countries have occasionally asserted rights to oil and
gas properties through border disputes. If a country claims
superior rights to oil and gas leases or concessions granted to
us by another country, our interests could decrease in value or
be lost. Even our smaller international assets may affect our
overall business and results of operations by distracting
management’s attention from our more significant assets.
Various regions of the world have a history of political and
economic instability. This instability could result in new
governments or the adoption of new policies that might result in
a substantially more hostile attitude toward foreign investment.
In an extreme case, such a change could result in termination of
contract rights and expropriation of foreign-owned assets. This
could adversely affect our interests and our future
profitability.


 





The impact that future terrorist attacks or regional hostilities
may have on the oil and gas industry in general, and on our
operations in particular, is not known at this time. Uncertainty
surrounding military strikes or a sustained military campaign
may affect our operations in unpredictable ways, including
disruptions of fuel supplies and markets, particularly oil, and
the possibility that infrastructure facilities, including
pipelines, production facilities, processing plants and
refineries, could be direct targets of, or indirect casualties
of, an act of terror or war. We may be required to incur
significant costs in the future to safeguard our assets against
terrorist activities.


 






International
Operations Have Uncertain Political, Economic and Other
Risks


 





Our operations outside North America are based primarily in
Azerbaijan, Brazil and China. We face political and economic
risks and other uncertainties in these areas that are more
prevalent than what exist for our operations in North America.
Such factors include, but are not limited to:


 






























































































































  • 
general strikes and civil unrest;
 
  • 
the risk of war, acts of terrorism, expropriation, forced
renegotiation or modification of existing contracts;
 
  • 
import and export regulations;
 
  • 
taxation policies, including royalty and tax increases and
retroactive tax claims, and investment restrictions;
 
  • 
transportation regulations and tariffs;
 
  • 
exchange controls, currency fluctuations, devaluation or other
activities that limit or disrupt markets and restrict payments
or the movement of funds;
 
  • 
laws and policies of the United States affecting foreign trade,
including trade sanctions;
 
  • 
the possibility of being subject to exclusive jurisdiction of
foreign courts in connection with legal disputes relating to
licenses to operate and concession rights in countries where we
currently operate;
 
  • 
the possible inability to subject foreign persons to the
jurisdiction of courts in the United States; and
 
  • 
difficulties enforcing our rights against a governmental agency
because of the doctrine of sovereign immunity and foreign
sovereignty over international operations.


 





Foreign countries have occasionally asserted rights to oil and
gas properties through border disputes. If a country claims
superior rights to oil and gas leases or concessions granted to
us by another country, our interests could decrease in value or
be lost. Even our smaller international assets may affect our
overall business and results of operations by distracting
management’s attention from our more significant assets.
Various regions of the world have a history of political and
economic instability. This instability could result in new
governments or the adoption of new policies that might result in
a substantially more hostile attitude toward foreign investment.
In an extreme case, such a change could result in termination of
contract rights and expropriation of foreign-owned assets. This
could adversely affect our interests and our future
profitability.


 





The impact that future terrorist attacks or regional hostilities
may have on the oil and gas industry in general, and on our
operations in particular, is not known at this time. Uncertainty
surrounding military strikes or a sustained military campaign
may affect our operations in unpredictable ways, including
disruptions of fuel supplies and markets, particularly oil, and
the possibility that infrastructure facilities, including
pipelines, production facilities, processing plants and
refineries, could be direct targets of, or indirect casualties
of, an act of terror or war. We may be required to incur
significant costs in the future to safeguard our assets against
terrorist activities.


 






These excerpts taken from the DVN 10-K filed Jun 9, 2008.
International Operations Have Uncertain Political, Economic and Other Risks
 
Our operations outside North America are based primarily in Azerbaijan, Brazil and China. We also have operations in various countries in West Africa that we intend to sell in 2008. In these areas outside of North America, we face political and economic risks and other uncertainties that are more prevalent than what exist for our operations in North America. Such factors include, but are not limited to:
 
  •  general strikes and civil unrest;
 
  •  the risk of war, acts of terrorism, expropriation, forced renegotiation or modification of existing contracts;
 
  •  import and export regulations;
 
  •  taxation policies, including royalty and tax increases and retroactive tax claims, and investment restrictions;
 
  •  transportation regulations and tariffs;
 
  •  exchange controls, currency fluctuations, devaluation or other activities that limit or disrupt markets and restrict payments or the movement of funds;
 
  •  laws and policies of the United States affecting foreign trade, including trade sanctions;
 
  •  the possibility of being subject to exclusive jurisdiction of foreign courts in connection with legal disputes relating to licenses to operate and concession rights in countries where we currently operate;
 
  •  the possible inability to subject foreign persons to the jurisdiction of courts in the United States; and
 
  •  difficulties in enforcing our rights against a governmental agency because of the doctrine of sovereign immunity and foreign sovereignty over international operations.
 
Foreign countries have occasionally asserted rights to oil and gas properties through border disputes. If a country claims superior rights to oil and gas leases or concessions granted to us by another country, our interests could decrease in value or be lost. Even our smaller international assets may affect our overall business and results of operations by distracting management’s attention from our more significant assets. Various regions of the world have a history of political and economic instability. This instability could result in new governments or the adoption of new policies that might result in a substantially more hostile attitude toward foreign investment. In an extreme case, such a change could result in termination of contract rights and expropriation of foreign-owned assets. This could adversely affect our interests and our future profitability.
 
The impact that future terrorist attacks or regional hostilities may have on the oil and gas industry in general, and on our operations in particular, is not known at this time. Uncertainty surrounding military strikes or a sustained military campaign may affect operations in unpredictable ways, including disruptions of fuel supplies and markets, particularly oil, and the possibility that infrastructure facilities, including pipelines, production facilities, processing plants and refineries, could be direct targets of, or indirect casualties of, an act of terror or war. We may be required to incur significant costs in the future to safeguard our assets against terrorist activities.
 
International
Operations Have Uncertain Political, Economic and Other
Risks


 



Our operations outside North America are based primarily in
Azerbaijan, Brazil and China. We also have operations in various
countries in West Africa that we intend to sell in 2008. In
these areas outside of North America, we face political and
economic risks and other uncertainties that are more prevalent
than what exist for our operations in North America. Such
factors include, but are not limited to:


 










































































































  • 
general strikes and civil unrest;
 
  • 
the risk of war, acts of terrorism, expropriation, forced
renegotiation or modification of existing contracts;
 
  • 
import and export regulations;
 
  • 
taxation policies, including royalty and tax increases and
retroactive tax claims, and investment restrictions;
 
  • 
transportation regulations and tariffs;
 
  • 
exchange controls, currency fluctuations, devaluation or other
activities that limit or disrupt markets and restrict payments
or the movement of funds;
 
  • 
laws and policies of the United States affecting foreign trade,
including trade sanctions;
 
  • 
the possibility of being subject to exclusive jurisdiction of
foreign courts in connection with legal disputes relating to
licenses to operate and concession rights in countries where we
currently operate;
 
  • 
the possible inability to subject foreign persons to the
jurisdiction of courts in the United States; and
 
  • 
difficulties in enforcing our rights against a governmental
agency because of the doctrine of sovereign immunity and foreign
sovereignty over international operations.


 



Foreign countries have occasionally asserted rights to oil and
gas properties through border disputes. If a country claims
superior rights to oil and gas leases or concessions granted to
us by another country, our interests could decrease in value or
be lost. Even our smaller international assets may affect our
overall business and results of operations by distracting
management’s attention from our more significant assets.
Various regions of the world have a history of political and
economic instability. This instability could result in new
governments or the adoption of new policies that might result in
a substantially more hostile attitude toward foreign investment.
In an extreme case, such a change could result in termination of
contract rights and expropriation of foreign-owned assets. This
could adversely affect our interests and our future
profitability.


 



The impact that future terrorist attacks or regional hostilities
may have on the oil and gas industry in general, and on our
operations in particular, is not known at this time. Uncertainty
surrounding military strikes or a sustained military campaign
may affect operations in unpredictable ways, including
disruptions of fuel supplies and markets, particularly oil, and
the possibility that infrastructure facilities, including
pipelines, production facilities, processing plants and
refineries, could be direct targets of, or indirect casualties
of, an act of terror or war. We may be required to incur
significant costs in the future to safeguard our assets against
terrorist activities.


 




These excerpts taken from the DVN 10-K filed Feb 28, 2008.
International Operations Have Uncertain Political, Economic and Other Risks
 
Our operations outside North America are based primarily in Azerbaijan, Brazil and China. We also have operations in various countries in West Africa that we intend to sell in 2008. In these areas outside of North America, we face political and economic risks and other uncertainties that are more prevalent than what exist for our operations in North America. Such factors include, but are not limited to:
 
  •  general strikes and civil unrest;
 
  •  the risk of war, acts of terrorism, expropriation, forced renegotiation or modification of existing contracts;
 
  •  import and export regulations;
 
  •  taxation policies, including royalty and tax increases and retroactive tax claims, and investment restrictions;
 
  •  transportation regulations and tariffs;
 
  •  exchange controls, currency fluctuations, devaluation or other activities that limit or disrupt markets and restrict payments or the movement of funds;
 
  •  laws and policies of the United States affecting foreign trade, including trade sanctions;
 
  •  the possibility of being subject to exclusive jurisdiction of foreign courts in connection with legal disputes relating to licenses to operate and concession rights in countries where we currently operate;
 
  •  the possible inability to subject foreign persons to the jurisdiction of courts in the United States; and
 
  •  difficulties in enforcing our rights against a governmental agency because of the doctrine of sovereign immunity and foreign sovereignty over international operations.
 
Foreign countries have occasionally asserted rights to oil and gas properties through border disputes. If a country claims superior rights to oil and gas leases or concessions granted to us by another country, our interests could decrease in value or be lost. Even our smaller international assets may affect our overall business and results of operations by distracting management’s attention from our more significant assets. Various regions of the world have a history of political and economic instability. This instability could result in new governments or the adoption of new policies that might result in a substantially more hostile attitude toward foreign investment. In an extreme case, such a change could result in termination of contract rights and expropriation of foreign-owned assets. This could adversely affect our interests and our future profitability.
 
The impact that future terrorist attacks or regional hostilities may have on the oil and gas industry in general, and on our operations in particular, is not known at this time. Uncertainty surrounding military strikes or a sustained military campaign may affect operations in unpredictable ways, including disruptions of fuel supplies and markets, particularly oil, and the possibility that infrastructure facilities, including pipelines, production facilities, processing plants and refineries, could be direct targets of, or indirect casualties of, an act of terror or war. We may be required to incur significant costs in the future to safeguard our assets against terrorist activities.
 
International
Operations Have Uncertain Political, Economic and Other
Risks


 



Our operations outside North America are based primarily in
Azerbaijan, Brazil and China. We also have operations in various
countries in West Africa that we intend to sell in 2008. In
these areas outside of North America, we face political and
economic risks and other uncertainties that are more prevalent
than what exist for our operations in North America. Such
factors include, but are not limited to:


 










































































































  • 
general strikes and civil unrest;
 
  • 
the risk of war, acts of terrorism, expropriation, forced
renegotiation or modification of existing contracts;
 
  • 
import and export regulations;
 
  • 
taxation policies, including royalty and tax increases and
retroactive tax claims, and investment restrictions;
 
  • 
transportation regulations and tariffs;
 
  • 
exchange controls, currency fluctuations, devaluation or other
activities that limit or disrupt markets and restrict payments
or the movement of funds;
 
  • 
laws and policies of the United States affecting foreign trade,
including trade sanctions;
 
  • 
the possibility of being subject to exclusive jurisdiction of
foreign courts in connection with legal disputes relating to
licenses to operate and concession rights in countries where we
currently operate;
 
  • 
the possible inability to subject foreign persons to the
jurisdiction of courts in the United States; and
 
  • 
difficulties in enforcing our rights against a governmental
agency because of the doctrine of sovereign immunity and foreign
sovereignty over international operations.


 



Foreign countries have occasionally asserted rights to oil and
gas properties through border disputes. If a country claims
superior rights to oil and gas leases or concessions granted to
us by another country, our interests could decrease in value or
be lost. Even our smaller international assets may affect our
overall business and results of operations by distracting
management’s attention from our more significant assets.
Various regions of the world have a history of political and
economic instability. This instability could result in new
governments or the adoption of new policies that might result in
a substantially more hostile attitude toward foreign investment.
In an extreme case, such a change could result in termination of
contract rights and expropriation of foreign-owned assets. This
could adversely affect our interests and our future
profitability.


 



The impact that future terrorist attacks or regional hostilities
may have on the oil and gas industry in general, and on our
operations in particular, is not known at this time. Uncertainty
surrounding military strikes or a sustained military campaign
may affect operations in unpredictable ways, including
disruptions of fuel supplies and markets, particularly oil, and
the possibility that infrastructure facilities, including
pipelines, production facilities, processing plants and
refineries, could be direct targets of, or indirect casualties
of, an act of terror or war. We may be required to incur
significant costs in the future to safeguard our assets against
terrorist activities.


 




This excerpt taken from the DVN 10-K filed Feb 28, 2007.
International Operations Have Uncertain Political, Economic and Other Risks
 
Our operations outside North America are based primarily in Azerbaijan, Brazil, China and various countries in West Africa. As a result, we face political and economic risks and other uncertainties that are less prevalent for our operations in North America. Such factors include, but are not limited to:
 
  •  general strikes and civil unrest;
 
  •  the risk of war, acts of terrorism, expropriation, forced renegotiation or modification of existing contracts;
 
  •  import and export regulations;
 
  •  taxation policies, including royalty and tax increases and retroactive tax claims, and investment restrictions;
 
  •  transportation regulations and tariffs;
 
  •  exchange controls, currency fluctuations, devaluation or other activities that limit or disrupt markets and restrict payments or the movement of funds;
 
  •  laws and policies of the United States affecting foreign trade, including trade sanctions;
 
  •  the possibility of being subject to exclusive jurisdiction of foreign courts in connection with legal disputes relating to licenses to operate and concession rights in countries where we currently operate;
 
  •  the possible inability to subject foreign persons to the jurisdiction of courts in the United States; and
 
  •  difficulties in enforcing our rights against a governmental agency because of the doctrine of sovereign immunity and foreign sovereignty over international operations.
 
Foreign countries have occasionally asserted rights to oil and gas properties through border disputes. If a country claims superior rights to oil and gas leases or concessions granted to us by another country, our interests could decrease in value or be lost. Even our smaller international assets may affect our overall business and results of operations by distracting management’s attention from our more significant assets. Various regions of the world have a history of political and economic instability. This instability could result in new governments or the adoption of new policies that might result in a substantially more hostile attitude toward foreign investment. In an extreme case, such a change could result in termination of contract rights and expropriation of foreign-owned assets. This could adversely affect our interests and our future profitability.
 
The impact that future terrorist attacks or regional hostilities may have on the oil and gas industry in general, and on our operations in particular, is not known at this time. Uncertainty surrounding military strikes or a sustained military campaign may affect operations in unpredictable ways, including disruptions of fuel supplies and markets, particularly oil, and the possibility that infrastructure facilities, including pipelines,


13

Table of Contents

production facilities, processing plants and refineries, could be direct targets of, or indirect casualties of, an act of terror or war. We may be required to incur significant costs in the future to safeguard our assets against terrorist activities.
 

EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 27, 2009
10-K (2 sections)
Jun 9, 2008
10-K (2 sections)
Feb 28, 2008
10-K
Feb 28, 2007

RELATED TOPICS for DVN:

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