CEO Letter



While celebrating the 50th year since Devon’s founding, we also explored what it will take to be a sustainable oil and natural gas producer for the next half century. It has become clear to us that the world needs an “all of the above” approach to energy production in order to meet growing global energy demand and to meet global climate change goals. The world also needs affordable, reliable and sustainable supplies of energy, including oil and gas, to meet this growing demand. Affordability, reliability and sustainability are equally important, and will have to be balanced with decarbonization efforts until alternative energy sources can be delivered consistently on a global scale. As the crisis in Ukraine and pandemic show, energy supply disruptions can cause severe impacts on the economic stability of our families, communities, nation and counterparts around the world.

Our core business of delivering responsibly produced oil and natural gas is not only sustainable, but essential to maintain our nation’s energy security and to improve the quality of human lives around the world. We are committed to producing low-cost, clean, safe and reliable energy to contribute to energy security and create shareholder value. Our employees, shareholders, contractors and other stakeholders hold us accountable for financial success, as well as for meeting expectations and targets for ESG performance and communicating our progress transparently.



Key beliefs:

  • Addressing climate change requires the world to decarbonize while at the same time ensure access to secure, affordable and reliable energy.
  • 获得安全,公平,负担得起和可靠的能源可改善世界各地人生的质量。
  • 世界需要采取“上述所有”方法来满足不断增长的全球人口和较低的碳目标的需求。
  • Oil and natural gas can and must be part of any lower carbon future.
  • As the world continues to change, Devon will adapt and evolve in a way that enables us to continue to be an industry leader.
  • 我们为我们所做的工作和我们的工作方式感到自豪。



Devon takes the same disciplined, thoughtful approach to ESG performance that we take to operational, financial and strategic performance. To continuously improve, we set targets, apply technologies and best practices to meet them, measure progress and take intelligent risks based on what we learn. We also set annual corporate goals for environment, health and safety (EHS) and community engagement, enabling our employees to share in our success.


We have a target to use 90% non-fresh water in our most active Delaware Basin operating areas, where our use of recycled water increased 65% to 61 million barrels in 2021 compared to 2020. Since 2015, Devon has reused over 200 million barrels of water from our water treatment facilities.



通过我们的表现的所有权,德文郡employees made our 2021 successes possible. We value our employees and will invest in their success to build the talented workforce our company needs in the future. The Devon leadership team is committed to balancing what our employees need as individuals with the best interests of our company, and to fostering a truly diverse, equitable and inclusive workplace where each employee feels a sense of belonging.

Devon focuses on building strong, safe communities and an educated workforce where we live and work. In 2021, we expanded our established STEM (science, technology, engineering and math) education programs, and with valuable input from our Diversity, Equity and Inclusion (DEI) Team, made our first Inclusion and Equity Grants in Oklahoma City. The grant program was so successful that we more than doubled our total investment and added organizations in the New Mexico Delaware Basin in 2022. We continue to look for meaningful ways to have a positive impact on children, families and communities.


在德文郡,我们继续learning and do not resist progress. Engaging constructively with a wide range of stakeholders exposes us to ideas and solutions that help us improve. Our company is now one of the largest U.S. energy producers, and this brings new opportunities to listen, learn and share the Devon perspective. With our seat at the table, Devon is joining our industry in underscoring the need for clear and consistent energy policy and sensible regulations that allow us to deliver the affordable, accessible energy we’ll need for many decades. We’re committed to conducting our core business in the right way for the benefit of our stakeholders.



Thank you for your interest in what Devon is doing to improve our environmental, social and governance performance. We take stakeholder feedback to heart and would appreciate your thoughts on this report to help us meet your information needs.



Core to our culture:




Message from Our Board


At Devon, we strongly believe that the company’s business performance builds from our environmental, social and governance (ESG) efforts. That’s why ESG topics are at the heart of our board’s deliberations. We are keenly focused on Devon’s efforts on environmental, safety, community and diversity, equity and inclusion initiatives. We review and measure the execution of our ESG initiatives and evaluate future actions. We are proud of our efforts and contend that the hard, creative work of our employees in these areas was a critical component in driving the company’s stock price performance to the top spot on the S&P 500 for 2021.

Acknowledging that ESG views and priorities continually evolve, we welcome increasing stakeholder scrutiny in these areas. With ambitious goals in place, Devon is engaging with a broad spectrum of stakeholders, including many who have differing perspectives on how to reach climate change objectives. The board believes the resulting healthy dialogue deepens Devon’s understanding and strengthens the company for the future.

The board and our Governance, Environmental and Public Policy (GEPP) Committee, in particular, view our ESG initiatives as critical opportunities for our company and our industry to remain essential contributors to the world’s energy needs. We believe that addressing ESG initiatives, particularly emissions reductions and workforce trends, is an imperative. We’ve endorsed and regularly monitor the company’s decarbonization targets, committing capital investments, technology deployments, on-going operational measures and enhanced internal resources to them. Devon’s pursuit of aggressive environmental targets is wholly compatible with delivering the strong business results that our shareholders expect.

Devon employees are dedicated to doing the right things with integrity. Diverse views and backgrounds lie at the heart of this company: without them, employees and contractors can’t challenge assumptions or share the bold ideas required in this swiftly changing industry. In our board and committee deliberations, we continually challenge how the company can foster a deeper commitment to a diverse, equitable and inclusive workplace.

我们认为,德文郡(Devon) - 进入未来 - 将以安全,对环境负责,经济谨慎和可持续的方式生产石油和天然气。GEPP委员会邀请您分享有关我们如何继续改善ESG努力的反馈。感谢您抽出宝贵的时间来了解德文郡在这些领域的关注,因为我们继续为世界的需求提供精力。


戴夫·哈格(Dave Hager)

芭芭拉·鲍曼(Barbara M. Baumann)
Chair of Governance, Environmental and Public Policy Committee

注意:芭芭拉·鲍曼(Barbara Baumann)女士被任命为董事会主席,接替戴夫·哈格(Dave Hager),他于2023年1月7日退休。