Oklahoma City-based Devon Energy Corp. on Monday joined many of its Lower 48 oil and gas peers in establishing environmental performance targets to reduce the carbon intensity of its operations and cut overall emissions from its supply chain.

Devon

By 2030 the onshore producer plans to reduce methane emissions intensity by 65%. Flaring intensity is set to decline to at least 0.5% by 2025, with routine flaring eliminated by 2030.

“We know that strong environmental performance is essential to protecting the communities in which we live and operate, managing risk, and generating long-term value for stakeholders,” said CEO Rick Muncrief. “Devon is setting aggressive goals to lower its carbon impact, while continuing to return value to shareholders. We know the need for oil and gas...