Devon commits to big cut in methane emissions intensity
SUMMARY
The company already stopped routine flaring at some of its operations in 2017.
By Daniel GraeberOklahoma-based Devon Energy said November 17 that it set a goal of cutting its methane emissions intensity by 65% and end routine flaring of natural gas both by 2030.
Devon released a lengthy report highlighting its progress on sustainability. The company operates in about 400,000 net acres in the Delaware basin, part of the broader Permian shale reservoir, across southeast New Mexico and parts of western Texas.
Devon said its operations in the Delaware basin contributed most to its performance on emissions. By 2017, it had already stopped routine flaring of associated natural gas. By 2020, it cut its greenhouse gas emissions by 14% and methane emissions by 47%, relative to the previous year.
It set a goal of cutting its overall methane emissions intensity by 65% and put an end to routine flaring both by 2030. Intensity, rather than actual volumes, suggests Devon is working to meet its objectives without curbs to production.
It is also striving for net-zero Scope 1 emissions, those coming direct from company operations, and Scope 2 emissions, those coming from indirect sources such as the purchase of electricity, by 2050.
Devon said it would meet those goals by expanding its leak detection and repair program and electrifying some of its facilities to reduce the use of natural gas and diesel consumed onsite.
Devon CEO Rick Muncrief said his company is committed to a low-carbon and sustainable future.
“Devon is first and foremost an energy company. Oil and gas enable us all to house and feed our families, heat and cool our indoor spaces, travel, manufacture necessities and carry out other essential activities,” he said. “We’re proud to produce the energy that makes all this possible, and to do it safely, responsibly and with care for the environment and our stakeholders.”
The company had already expressed some of its sustainability goals in June.
