Home Technology Devon Energy Corporation joins oil and gas industry consortium Blockchain for Energy

Devon Energy Corporation joins oil and gas industry consortium Blockchain for Energy

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Devon Energy Corporation joins oil and gas industry consortium Blockchain for Energy

HOUSTON–(BUSINESS WIRE)–#BlockchainBlockchain for Energy (B4E) announced today that Devon Energy Corporation joined its oil and gas consortium that helps member organizations advance and transform the way transactions, records and data are managed in the energy industry. B4E also supports low-carbon energy opportunities through collaboration and proactive development of new technologies.

“It is with great pleasure that I welcome Devon Energy as a board member of the Blockchain for Energy Consortium,” said Rebecca Hofmann, CEO of Blockchain for Energy. “We look forward to the great things our collaboration will accomplish and the transformation that will result.”

Membership will help accelerate the adoption of Web3 technologies

“Joining Blockchain for Energy is another example of Devon’s focus on innovation and collaborative partnerships,” said Trey Lowe, Chief Technology Officer at Devon Energy. “We are excited to work with many highly respected organizations and help transform the technology landscape of the energy industry.”

Devon will hold full member status, a seat on the board of directors, and participate in B4E’s technology committee. They will participate in the consortium’s five programs, including: the ESG Disclosure Registry Pilot; Integrated joint venture management (with AFE ballot and joint interest billing); ongoing testing of a Mineral Royalty Blockchain solution; and B4E’s operational freight transport solutions.

Drawing on the insights of some of the industry’s most experienced leaders, the consortium’s work will lead to the improved innovation needed to usher in a new digital era. Through collaboration and market innovation, B4E and its members are building an entrepreneurial community and reinventing energy industry workflow processes.

In addition to Devon, B4E members include Chevron, Conoco Phillips, ExxonMobil, Pioneer of natural resources, Repsol, Schlumberger, APIsand Worley.

About Blockchain for Energy

Using the benefits of blockchain technology, the Blockchain for Energy (B4E) provides its members with cutting-edge learnings and solutions for the energy industry. We collaboratively drive the digital transformation to Web3 by providing members with opportunities to accelerate their digitization journey. We seek to solve, reinvent and transform the way industry works through collective synergies. Blockchain for Energy is a safe place to create transformational change – for the energy industry – by the energy industry.

About Devon Energy

Devon Energy is a leading oil and gas producer in the United States with a leading multi-basin portfolio, characterized 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.

contacts

Martin Juniper

Blockchain for Energy

713.816.4173

social@blockchainforenergy.net

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