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Devon Energy (DVN) risk factors: FY2025 10-K

Item 1A of the 10-K for the period ending 2025-12-31, filed 2026-02-18. 19 risk factor headings as filed. Read Item 1A in full · The whole 10-K · What changed since FY2024

5new since FY2024
0reworded
1removed
14unchanged

Headings mentioning a theme: Tariffs 0 · AI 1 · Cybersecurity 1 · China 0 · Interest rates 0. Compare across the S&P 500.

Risks Related to Our Industry

3
  1. Volatile Oil, Gas and NGL Prices Significantly Impact Our Business
  2. Estimates of Oil, Gas and NGL Reserves Are Uncertain and May Be Subject to Revision
  3. Discoveries or Acquisitions of Reserves Are Needed to Avoid a Material Decline in Reserves and Production, and Such Activities Are Capital Intensive

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Our Hedging Activities Limit Participation in Commodity Price Increases and Involve Other Risks

3
  1. We Have Limited Control Over Properties and Investments Operated by Others or through Joint Ventures
  2. Midstream Capacity Constraints and Interruptions Impact Commodity Sales
  3. Competition for Assets, Materials, People and Capital Can Be Significant

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Legal, Regulatory and Environmental Risks

2
  1. We Are Subject to Extensive Governmental Regulation, Which Can Change and Could Adversely Impact Our Business
  2. Climate Change and Related Regulatory, Social and Market Actions May Adversely Affect Our Business

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Our Environmental Performance Targets and Other Sustainability Initiatives May Expose Us to Risks

2
  1. Claims, Litigation, Audits and Other Proceedings, Including Relating to Historic and Legacy Operations, May Adversely Impact Us
  2. Price Controls, Export Restrictions and Other Governmental Interventions in Energy Markets May Adversely Impact Our Business

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Risks Relating to the Merger

3
  1. We May Fail to Realize the Anticipated Benefits of the Merger, and Any Failure to Successfully Integrate the Businesses and Operations of Devon and Coterra May Adversely Affect Our Future Resultsnew
  2. We Are Subject to Certain Restrictions in the Merger Agreement That May Hinder Operations Pending the Consummation of the Merger, and We May Be the Target of Securities Class Action and Derivative Lawsuits as a Result of the Mergernew
  3. The Merger Agreement Could Be Terminated, Which Could Negatively Impact Usnew

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General and Other Risks Facing Our Business

4
  1. The Credit Risk of Our Counterparties Could Adversely Affect Us
  2. Our Debt May Limit Our Liquidity and Financial Flexibility, and Any Downgrade of Our Credit Rating Could Adversely Impact Us
  3. Cybersecurity Incidents May Adversely Impact Our OperationsCybersecurity
  4. We Face Risks Associated with Artificial Intelligence and Other Emerging TechnologiesnewAI

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Insurance Does Not Cover All Risks

1
  1. Activist Shareholders Could Cause Us to Incur Significant Expense, Hinder Execution of our Business Strategy and Impact Our Stock Pricenew

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Our Acquisition and Divestiture Activities Involve Substantial Risks

1
  1. Our Ability to Declare and Pay Dividends and Repurchase Shares Is Subject to Certain Considerations

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No longer in Item 1A

1

Headings in the FY2024 10-K with no match this year.

  1. Our Business Could Be Adversely Impacted by Shareholder Activism, Proxy Contests or Similar Actions

Headings are the lines of Item 1A set wholly in bold or italics, as the parser reads them, without the introductory paragraph that opens the section. A heading is new when no heading in the prior 10-K matches it after ignoring case and punctuation, and reworded when it shares at least 60 percent of its words with one that went away. Source: the filing on sec.gov.