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DVN » Topics » Oil, Gas and NGL Prices are Volatile

These excerpts taken from the DVN 10-K filed Feb 27, 2009.
Oil, Gas and NGL Prices are Volatile
 
Our financial results are highly dependent on the prices of and demand for oil, gas and NGLs. A significant downward movement of the prices for these commodities could have a material adverse effect on our revenues, operating cash flows and profitability. Such a downward price movement could also have a material adverse effect on our estimated proved reserves, the carrying value of our oil and gas properties, the level of planned drilling activities and future growth. Historically, prices have been volatile and are likely to continue to be volatile in the future due to numerous factors beyond our control. These factors include, but are not limited to:
 
  •  consumer demand for oil, gas and NGLs;
 
  •  conservation efforts;
 
  •  OPEC production levels;
 
  •  weather;
 
  •  regional pricing differentials;
 
  •  differing quality of oil produced (i.e., sweet crude versus heavy or sour crude) and Btu content of gas produced;
 
  •  the level of imports and exports of oil, gas and NGLs;
 
  •  the price and availability of alternative fuels;
 
  •  the overall economic environment; and
 
  •  governmental regulations and taxes.
 
Oil, Gas and NGL Prices are Volatile
 
Our financial results are highly dependent on the prices of and demand for oil, gas and NGLs. A significant downward movement of the prices for these commodities could have a material adverse effect on our revenues, operating cash flows and profitability. Such a downward price movement could also have a material adverse effect on our estimated proved reserves, the carrying value of our oil and gas properties, the level of planned drilling activities and future growth. Historically, prices have been volatile and are likely to continue to be volatile in the future due to numerous factors beyond our control. These factors include, but are not limited to:
 
  •  consumer demand for oil, gas and NGLs;
 
  •  conservation efforts;
 
  •  OPEC production levels;
 
  •  weather;
 
  •  regional pricing differentials;
 
  •  differing quality of oil produced (i.e., sweet crude versus heavy or sour crude) and Btu content of gas produced;
 
  •  the level of imports and exports of oil, gas and NGLs;
 
  •  the price and availability of alternative fuels;
 
  •  the overall economic environment; and
 
  •  governmental regulations and taxes.
 
Oil, Gas
and NGL Prices are Volatile


 





Our financial results are highly dependent on the prices of and
demand for oil, gas and NGLs. A significant downward movement of
the prices for these commodities could have a material adverse
effect on our revenues, operating cash flows and profitability.
Such a downward price movement could also have a material
adverse effect on our estimated proved reserves, the carrying
value of our oil and gas properties, the level of planned
drilling activities and future growth. Historically, prices have
been volatile and are likely to continue to be volatile in the
future due to numerous factors beyond our control. These factors
include, but are not limited to:


 






























































































































  • 
consumer demand for oil, gas and NGLs;
 
  • 
conservation efforts;
 
  • 
OPEC production levels;
 
  • 
weather;
 
  • 
regional pricing differentials;
 
  • 
differing quality of oil produced (i.e., sweet crude versus
heavy or sour crude) and Btu content of gas produced;
 
  • 
the level of imports and exports of oil, gas and NGLs;
 
  • 
the price and availability of alternative fuels;
 
  • 
the overall economic environment; and
 
  • 
governmental regulations and taxes.


 






Oil, Gas
and NGL Prices are Volatile


 





Our financial results are highly dependent on the prices of and
demand for oil, gas and NGLs. A significant downward movement of
the prices for these commodities could have a material adverse
effect on our revenues, operating cash flows and profitability.
Such a downward price movement could also have a material
adverse effect on our estimated proved reserves, the carrying
value of our oil and gas properties, the level of planned
drilling activities and future growth. Historically, prices have
been volatile and are likely to continue to be volatile in the
future due to numerous factors beyond our control. These factors
include, but are not limited to:


 






























































































































  • 
consumer demand for oil, gas and NGLs;
 
  • 
conservation efforts;
 
  • 
OPEC production levels;
 
  • 
weather;
 
  • 
regional pricing differentials;
 
  • 
differing quality of oil produced (i.e., sweet crude versus
heavy or sour crude) and Btu content of gas produced;
 
  • 
the level of imports and exports of oil, gas and NGLs;
 
  • 
the price and availability of alternative fuels;
 
  • 
the overall economic environment; and
 
  • 
governmental regulations and taxes.


 






EXCERPTS ON THIS PAGE:

10-K (4 sections)
Feb 27, 2009

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