1、Defining Devon/2005 Annual Report Devon energy Corporation How we are defined by others is as important as how we define ourselves.Devon /devon/Devon is the largest U.S.-based independent oil and gas exploration and production company.Devon also owns natural gas pipelines and treatment facilities in
2、 many of its producing areas,making Devon one of North Americas larger processors of natural gas liquids.Devons operations are focused primarily in the United States and Canada;however,the company also explores for and produces oil and natural gas in selected areas outside North America.Devon is inc
3、luded in the S&P 500 Index and trades on the New York Stock Exchange under the ticker symbol DVN.Page 6LettertoShareholders Larry Nichols reviews the year and shares the companys strategy.Page 8Five-YearHighlights Financial highlights from the past five years.Page0Q&A Management answers Wall Streets
4、 questions.Page 3CommunityPartners Devon and its employees give back to communities.Page 6Environmental,HealthandSafety Safety and environmental stewardship defined.Page 9PortfolioofOilandGasProperties An in-depth view of Devons oil and gas assets.Page 22-YearPropertyData Page 23OperatingStatisticsb
5、yArea Page 25KeyPropertyHighlights Page 29IndextoFinancials Page 0 DirectorsandSeniorOfficersPage 04 GlossaryPage 05 CommonStockTradingDataandInvestorInformationContents2TerryBelsheim/Landowner ALbErtA,CANADA3DavidWalker/Sheriff WISE CoUNtY,tExAS4SonjaMacys/Executive Director tUCSoN AUDUboN SoCIEtY,
6、ArIzoNA5NewtonMonteiro/Director NAtIoNAL PEtroLEUM AGENCY,brAzIL6Dear Fellow Shareholders:For Devon Energy Corporation,2005 was a year defined by accomplishment.Many are readily apparent:oil and gas reserves,revenues,cash flow,earn-ings and earnings per share all climbed to record levels.However,oth