Information Regarding Forward-Looking Statements
This Amendment includes "forward-looking statements" within the meaning of the federal securities laws. Such statements include those concerning strategic plans, our expectations and objectives for future operations, as well as other future events or conditions, and are often identified by use of the words and phrases "expects," "believes," "will," "would," "could," "continue," "may," "aims," "likely to be," "intends," "forecasts," "projections," "estimates," "plans," "expectations," "targets," "opportunities," "potential," "anticipates," "outlook" and other similar terminology. All statements, other than statements of historical facts, included in this Amendment that address activities, events or developments that Devon expects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Consequently, actual future results could differ materially and adversely from our expectations due to a number of factors, including, but not limited to:
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the volatility of oil, gas and natural gas liquids prices, including from changes in trade relations and policies, such as the imposition of new or increased tariffs or other trade protection measures by the U.S., China or other countries;
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uncertainties inherent in estimating oil, gas and natural gas liquids reserves;
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the extent to which we are successful in acquiring and discovering additional reserves;
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the uncertainties, costs and risks involved in our operations;
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risks related to our hedging activities;
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our limited control over third parties who operate some of our oil and gas properties and investments;
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midstream capacity constraints and potential interruptions in production, including from limits to the build out of midstream infrastructure;
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competition for assets, materials, people and capital, which can be exacerbated by supply chain disruptions, including as a result of tariffs or other changes in trade policy;
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regulatory restrictions, compliance costs and other risks relating to governmental regulation, including with respect to federal lands, environmental matters, water disposal and tax matters;
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climate change and risks related to regulatory, social and market efforts to address climate change;
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risks relating to our sustainability initiatives;
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claims, audits and other proceedings impacting our business, including with respect to historic and legacy operations;
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governmental interventions in energy markets;
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counterparty credit risks;
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risks relating to our indebtedness;
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risks associated with artificial intelligence and other emerging technologies;
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the extent to which insurance covers any losses we may experience;
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risks related to shareholder activism;
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our ability to successfully complete mergers, acquisitions and divestitures;
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our ability to pay dividends and make share repurchases;
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risks related to the pending merger transaction between Devon and Coterra Energy Inc., including restrictions on our operations during the pendency of the merger, litigation risk, the risk that the merger agreement for the transaction may be terminated and the risk that we may not realize the anticipated benefits of the merger or successfully integrate the two companies; and
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any of the other risks and uncertainties discussed in this Amendment, the Original Filing or our other SEC filings.
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The forward-looking statements included in this filing speak only as of the date of this Amendment, represent management's current reasonable expectations as of the date of this filing and are subject to the risks and uncertainties identified above as well as those described elsewhere in this Amendment, the Original Filing and in other documents we file from time to time with the SEC. We cannot guarantee the accuracy of our forward-looking statements, and readers are urged to carefully review and consider the various disclosures made in this Amendment, the Original Filing and in the other documents we file from time to time with the SEC. All subsequent written and oral forward-looking statements attributable to Devon, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. We do not undertake, and expressly disclaim, any duty to update or revise our forward-looking statements based on new information, future events or otherwise.
