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

These excerpts taken from the DVN 10-K filed Jun 9, 2008.
Oil, Natural Gas and NGL Prices are Volatile
 
Our financial results are highly dependent on the prices of and demand for oil, natural gas and NGLs. A significant downward movement of the prices for these commodities could have a material adverse effect on our estimated proved reserves, revenues and operating cash flows, as well as the level of planned drilling activities. Such a downward price movement could also have a material adverse effect on our profitability, the carrying value of our oil and gas properties 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, natural gas and NGLs;
 
  •  conservation efforts;
 
  •  OPEC production levels;
 
  •  weather;
 
  •  regional market pricing differences;
 
  •  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, natural gas and NGLs;
 
  •  the price and availability of alternative fuels;
 
  •  the overall economic environment; and
 
  •  governmental regulations and taxes.
 
Oil,
Natural Gas and NGL Prices are Volatile


 



Our financial results are highly dependent on the prices of and
demand for oil, natural gas and NGLs. A significant downward
movement of the prices for these commodities could have a
material adverse effect on our estimated proved reserves,
revenues and operating cash flows, as well as the level of
planned drilling activities. Such a downward price movement
could also have a material adverse effect on our profitability,
the carrying value of our oil and gas properties 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, natural gas and NGLs;
 
  • 
conservation efforts;
 
  • 
OPEC production levels;
 
  • 
weather;
 
  • 
regional market pricing differences;
 
  • 
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, natural gas and NGLs;
 
  • 
the price and availability of alternative fuels;
 
  • 
the overall economic environment; and
 
  • 
governmental regulations and taxes.


 




These excerpts taken from the DVN 10-K filed Feb 28, 2008.
Oil, Natural Gas and NGL Prices are Volatile
 
Our financial results are highly dependent on the prices of and demand for oil, natural gas and NGLs. A significant downward movement of the prices for these commodities could have a material adverse effect on our estimated proved reserves, revenues and operating cash flows, as well as the level of planned drilling activities. Such a downward price movement could also have a material adverse effect on our profitability, the carrying value of our oil and gas properties 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, natural gas and NGLs;
 
  •  conservation efforts;
 
  •  OPEC production levels;
 
  •  weather;
 
  •  regional market pricing differences;
 
  •  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, natural gas and NGLs;
 
  •  the price and availability of alternative fuels;
 
  •  the overall economic environment; and
 
  •  governmental regulations and taxes.
 
Oil,
Natural Gas and NGL Prices are Volatile


 



Our financial results are highly dependent on the prices of and
demand for oil, natural gas and NGLs. A significant downward
movement of the prices for these commodities could have a
material adverse effect on our estimated proved reserves,
revenues and operating cash flows, as well as the level of
planned drilling activities. Such a downward price movement
could also have a material adverse effect on our profitability,
the carrying value of our oil and gas properties 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, natural gas and NGLs;
 
  • 
conservation efforts;
 
  • 
OPEC production levels;
 
  • 
weather;
 
  • 
regional market pricing differences;
 
  • 
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, natural gas and NGLs;
 
  • 
the price and availability of alternative fuels;
 
  • 
the overall economic environment; and
 
  • 
governmental regulations and taxes.


 




This excerpt taken from the DVN 10-K filed Feb 28, 2007.
Oil, Natural Gas and NGL Prices are Volatile
 
Our financial results are highly dependent on the prices of and demand for oil, natural gas and NGLs. A significant downward movement of the prices for these commodities could have a material adverse effect on our estimated proved reserves, revenues and operating cash flows, as well as the level of planned drilling activities. Such a downward price movement could also have a material adverse effect on our profitability, the carrying value of our oil and gas properties 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, natural gas and NGLs;
 
  •  conservation efforts;
 
  •  OPEC production restraints;
 
  •  weather;
 
  •  regional market pricing differences;
 
  •  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, natural 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 (2 sections)
Jun 9, 2008
10-K (2 sections)
Feb 28, 2008
10-K
Feb 28, 2007

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