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These excerpts taken from the DVN 10-K filed Feb 27, 2009. Operating
Cash Flow — Continuing Operations
Net cash provided by operating activities (“operating cash
flow”) continued to be our primary source of capital and
liquidity in 2008. Changes in operating cash flow are largely
due to the same factors that affect our net earnings, with the
exception of those earnings changes due to such noncash expenses
as DD&A, financial instrument fair value changes, property
impairments and deferred income taxes. As a result, our
operating cash flow increased 50% during 2008 primarily due to
the $3.0 billion increase in oil, gas and NGL revenues, net
of commodity hedge settlements, as discussed in the
“Results of Operations” section of this report.
During 2008, 2007 and 2006, our capital expenditures were
primarily funded by our operating cash flow. In 2006, we used a
combination of commercial paper borrowings and proceeds from the
sale of short-term investments to fund the $2.0 billion
Chief acquisition in June 2006.
Operating
Cash Flow — Continuing Operations
Net cash provided by operating activities (“operating cash
flow”) continued to be our primary source of capital and
liquidity in 2008. Changes in operating cash flow are largely
due to the same factors that affect our net earnings, with the
exception of those earnings changes due to such noncash expenses
as DD&A, financial instrument fair value changes, property
impairments and deferred income taxes. As a result, our
operating cash flow increased 50% during 2008 primarily due to
the $3.0 billion increase in oil, gas and NGL revenues, net
of commodity hedge settlements, as discussed in the
“Results of Operations” section of this report.
During 2008, 2007 and 2006, our capital expenditures were
primarily funded by our operating cash flow. In 2006, we used a
combination of commercial paper borrowings and proceeds from the
sale of short-term investments to fund the $2.0 billion
Chief acquisition in June 2006.
Operating Cash Flow — Continuing Operations Net cash provided by operating activities (“operating cash flow”) continued to be our primary source of capital and liquidity in 2008. Changes in operating cash flow are largely due to the same factors that affect our net earnings, with the exception of those earnings changes due to such noncash expenses as DD&A, financial instrument fair value changes, property impairments and deferred income taxes. As a result, our operating cash flow increased 50% during 2008 primarily due to the $3.0 billion increase in oil, gas and NGL revenues, net of commodity hedge settlements, as discussed in the “Results of Operations” section of this report. During 2008, 2007 and 2006, our capital expenditures were primarily funded by our operating cash flow. In 2006, we used a combination of commercial paper borrowings and proceeds from the sale of short-term investments to fund the $2.0 billion Chief acquisition in June 2006. Operating Cash Flow — Continuing Operations Net cash provided by operating activities (“operating cash flow”) continued to be our primary source of capital and liquidity in 2008. Changes in operating cash flow are largely due to the same factors that affect our net earnings, with the exception of those earnings changes due to such noncash expenses as DD&A, financial instrument fair value changes, property impairments and deferred income taxes. As a result, our operating cash flow increased 50% during 2008 primarily due to the $3.0 billion increase in oil, gas and NGL revenues, net of commodity hedge settlements, as discussed in the “Results of Operations” section of this report. During 2008, 2007 and 2006, our capital expenditures were primarily funded by our operating cash flow. In 2006, we used a combination of commercial paper borrowings and proceeds from the sale of short-term investments to fund the $2.0 billion Chief acquisition in June 2006. These excerpts taken from the DVN 10-K filed Jun 9, 2008. Operating
Cash Flow — Continuing Operations
Net cash provided by operating activities (“operating cash
flow”) continued to be our primary source of capital and
liquidity in 2007. Changes in operating cash flow are largely
due to the same factors that affect
Table of Contents
our net earnings, with the exception of those earnings changes
due to such noncash expenses as DD&A, financial instrument
fair value changes, property impairments and deferred income tax
expense. As a result, our operating cash flow increased in 2007
primarily due to the increase in earnings as discussed in the
“Results of Operations” section of this report.
During 2007 and 2006, operating cash flow was primarily used to
fund our capital expenditures. Excluding the $2.0 billion
Chief acquisition in June 2006, our operating cash flow was
sufficient to fund our 2007 and 2006 capital expenditures.
During 2005, operating cash flow was sufficient to fund our 2005
capital expenditures and $1.3 billion of debt repayments.
Operating Cash Flow — Continuing Operations Net cash provided by operating activities (“operating cash flow”) continued to be our primary source of capital and liquidity in 2007. Changes in operating cash flow are largely due to the same factors that affect
Table of Contentsour net earnings, with the exception of those earnings changes due to such noncash expenses as DD&A, financial instrument fair value changes, property impairments and deferred income tax expense. As a result, our operating cash flow increased in 2007 primarily due to the increase in earnings as discussed in the “Results of Operations” section of this report. During 2007 and 2006, operating cash flow was primarily used to fund our capital expenditures. Excluding the $2.0 billion Chief acquisition in June 2006, our operating cash flow was sufficient to fund our 2007 and 2006 capital expenditures. During 2005, operating cash flow was sufficient to fund our 2005 capital expenditures and $1.3 billion of debt repayments. These excerpts taken from the DVN 10-K filed Feb 28, 2008. Operating
Cash Flow — Continuing Operations
Net cash provided by operating activities (“operating cash
flow”) continued to be our primary source of capital and
liquidity in 2007. Changes in operating cash flow are largely
due to the same factors that affect
Table of Contents
our net earnings, with the exception of those earnings changes
due to such noncash expenses as DD&A, financial instrument
fair value changes, property impairments and deferred income tax
expense. As a result, our operating cash flow increased in 2007
primarily due to the increase in earnings as discussed in the
“Results of Operations” section of this report.
During 2007 and 2006, operating cash flow was primarily used to
fund our capital expenditures. Excluding the $2.0 billion
Chief acquisition in June 2006, our operating cash flow was
sufficient to fund our 2007 and 2006 capital expenditures.
During 2005, operating cash flow was sufficient to fund our 2005
capital expenditures and $1.3 billion of debt repayments.
Operating Cash Flow — Continuing Operations Net cash provided by operating activities (“operating cash flow”) continued to be our primary source of capital and liquidity in 2007. Changes in operating cash flow are largely due to the same factors that affect
Table of Contentsour net earnings, with the exception of those earnings changes due to such noncash expenses as DD&A, financial instrument fair value changes, property impairments and deferred income tax expense. As a result, our operating cash flow increased in 2007 primarily due to the increase in earnings as discussed in the “Results of Operations” section of this report. During 2007 and 2006, operating cash flow was primarily used to fund our capital expenditures. Excluding the $2.0 billion Chief acquisition in June 2006, our operating cash flow was sufficient to fund our 2007 and 2006 capital expenditures. During 2005, operating cash flow was sufficient to fund our 2005 capital expenditures and $1.3 billion of debt repayments. This excerpt taken from the DVN 10-K filed Feb 28, 2007. Operating
Cash Flow — Continuing Operations
Net cash provided by operating activities (“operating cash
flow”) is our primary source of capital and liquidity.
Changes in operating cash flow are largely due to the same
factors that affect our net earnings, with the exception of
those earnings changes due to such noncash expenses as DD&A,
property impairments, derivative fair value changes and deferred
income tax expense. As a result, our operating cash flow
increased in 2006 and 2005 compared to the previous years
largely due to increases in net earnings, as discussed in the
“Results of Operations” section of this report.
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