HOUSTON–(BUSINESS WIRE)–Blockchain for Energy (B4E) today announced that Devon Energy Corporation has joined its oil and gas consortium helping member organizations advance and transform the way transactions, records and data are managed in the energy industry. B4E also supports opportunities for lower carbon energy through collaboration and proactive development of new technologies.
“It is my great pleasure to welcome Devon Energy as a board member of the Blockchain for Energy consortium,” said Rebecca Hofmann, CEO, Blockchain for Energy. “We look forward to the great things our collaboration will achieve 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 of Devon Energy. “We are excited to work with many highly respected organizations and help transform the energy industry’s technology landscape.”
Devon will have full member status, a board seat and participate in B4E’s technology committee. They will participate in all five consortium programs, including: ESG-Emission Disclosure Registry Pilot; Integrated Joint Venture Management (with AFE voting and joint interest invoicing); the current testing of a Mineral Royalty Blockchain solution; and B4E’s operational goods transport solutions.
Drawing on knowledge from some of the most experienced industry leaders, the consortium’s work will lead to the increased innovation needed to usher in a new digital era. Through collaboration and market innovation, B4E and its members build an enterprising community and reinvent the energy industry’s workflow processes.
In addition to Devon, B4E members include Chevron, ConocoPhillips, ExxonMobil, Pioneer Natural Resources, Repsol, Schlumberger, API and Worley.
About Blockchain for Energy
By leveraging the benefits of blockchain technology, the Blockchain for Energy (B4E) Consortium provides its members with forward-looking learning and solutions for the energy industry. We work together to drive digital transformation towards Web3 by giving members opportunities to accelerate their digitization journey. We seek to solve, reinvent and transform the industry’s ways of working 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 US oil and gas producer with a premier multi-basin portfolio with a world-class 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.
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