Devon Energy Releases 2022 Sustainability Report Highlighting Progress on Environmental Targets and Focus on the Reliability and Resilience of Its Business

OKLAHOMA CITY, Nov. 08, 2022 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE: DVN), a leading U.S. independent oil and gas producer, today announced the release of its 2022 sustainability report which highlights the company’s efforts to deliver industry-leading results while being a responsible environmental steward, committed advocate for safety, reliable producer, valued and effective community partner, and supportive employer.

“Devon’s continued progress on our ESG targets is something I’m extremely proud of,” said Rick Muncrief, president and CEO. “As a company we aim to lead by example by using the same thoughtful, disciplined, and balanced approach with our ESG performance as we do with our financial performance.

“We’ve made progress toward our environmental targets this year and taken another meaningful step forward by joining the OGMP 2.0 initiative, which will help us further accelerate methane emissions reductions through more accurate, measurement-informed reporting.”

The latest comprehensive report highlights the Company’s progress towards its net zero ambition for scopes 1 & 2 GHG emissions by 2050 and other targets announced in June 2021. The report also details the Company's 2021 performance including key metrics on air emissions, water management practices, safety, diversity, equity and inclusion, board governance and community engagement.

This year’s report reflects Devon’s level of alignment with voluntary frameworks and standards established by IPIECA, TCFD, SASB, and United Nations Sustainable Development Goals.

Find the full report complete with targets and metrics on the Devon corporate website at devonenergy.com/sustainability.

ABOUT DEVON ENERGY
Devon Energy is a leading oil and gas producer in the U.S. with a premier multi-basin portfolio headlined by a world-class acreage position in the Delaware Basin. Devon’s disciplined cash-return business model is designed to achieve strong returns, generate free cash flow, and return capital to shareholders, while focusing on safe and sustainable operations. For more information, please visit www.devonenergy.com.

Investor Contacts
Scott Coody, 405-552-4735                        
Chris Carr, 405-228-2496

Media Contact
Lisa Adams, 405-228-1732

ESG Contact
Chris Kirt, 405-552-8028

FORWARD-LOOKING STATEMENTS

This press release contains “forward-looking statements” within the meaning of the federal securities laws. Such statements are not promises or guarantees of future conduct, policy or performance and are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. Consequently, Devon’s actual activities and future results, including the development, implementation or continuation of any program, target or initiative discussed in this press release or the 2022 sustainability report, may differ materially in the future due to a number of factors, including, but not limited to: the risk that Devon is unable to implement the new technologies and practices contemplated to achieve the relevant ESG targets successfully or on a timely basis; the risk that such technologies and practices result in higher than anticipated costs or cause operational disruptions that adversely impact Devon’s financial performance; and the other risks identified in Devon’s 2021 Annual Report on Form 10-K and its other filings with the Securities and Exchange Commission. The forward-looking statements in this press release are made as of the date hereof, and Devon does not undertake, and expressly disclaims, any duty to update or revise our forward-looking statements based on new information, future events or otherwise.