Devon Energy Corp. announced on June 21 it is establishing new environmental performance targets focused on reducing the carbon intensity of its operations, minimizing freshwater use, and engaging constructively with its value chain.(Logo quoted from Yahoo’s image)



Since its founding in 1971, Devon has been at the forefront of technological innovation in the oil and natural gas industry. The company’s long history of using advanced technologies to improve efficiencies across the business will be key to delivering on its ambition to achieve net zero GHG emissions for Scopes 1 and 2 by 2050.


In pursuit of continued transparency, Devon will refresh its Climate Change Assessment Report by year-end 2021, outlining its approach to proactively address climate-related risks and opportunities.



To demonstrate Devon’s progress in achieving its longer-term net zero ambition, the company is targeting reductions of its Scopes 1 and 2 GHG emissions intensity by 50% and methane emissions intensity by 65% by 2030 from a 2019 baseline.


Devon’s emission reduction strategy will involve a range of potential actions including expanding its leak detection and repair program; implementing advanced leak detection technologies; reducing the volume of natural gas that is flared; electrifying facilities to reduce the use of natural gas and diesel consumed onsite, including transitioning from gas-driven to air-driven pneumatic controllers; and optimizing facility design to minimize leaks and eliminate common equipment failures.



A key component of Devon's broader emissions reduction strategy is to focus on reducing flared volumes to protect the environment.


Devon is establishing a two-pronged approach to improve its flaring performance — targeting a flaring intensity of 0.5% of gross natural gas produced by 2025 and eliminating routine flaring, as defined by the World Bank, by 2030. The company expects to drive results by continuing to engage in pre-production planning, optimize facility design and operating conditions, assess and deploy beneficial reuse technologies, and collaborate with service providers to prevent and mitigate midstream and downstream constraints.



Devon is committed to conserving and reusing water and has set a target to advance its recycled water rate and use 90% or more non-freshwater for completion activities in its most active operating areas within the Delaware Basin. To minimize freshwater use, the company employs economically and operationally feasible freshwater alternatives wherever possible and has a dozen water recycling facilities throughout the basin.



Devon will continue evaluating how it can constructively engage stakeholders upstream and downstream of operations to improve ESG performance across its value chain. By 2023, Devon’s contractors who perform work on Devon locations will begin undergoing annual evaluations to assess their ESG performance in key areas.


“Devon is proud to produce affordable, accessible energy that is vital to powering modern life, while further minimizing our carbon footprint,” said Clay Gaspar, Chief Operating Officer. “Our new targets reflect our dedication and commitment to achieving meaningful emissions reductions while pursuing our ultimate goal of net zero GHG emissions.”