Public policy can impact Devon’s sustainability, and we have a responsibility to advocate for laws and rules that balance stakeholder interests. We participate in discussions about taxation, regulation, trade, jobs and business-focused issues.
Our economy runs on energy and depends on countless products made from plastics, fabrics and compounds derived from oil and natural gas. As a leading U.S. independent oil and natural gas producer, Devon is keenly aware of our important role in local, state, national and world economies.
We have found that advocacy is important to our ability to operate in a safe, ethical, and environmentally and socially responsible manner. We actively advocate on matters of public interest and are committed to doing so in compliance with all applicable laws, regulations and rules. Devon makes all required financial disclosures and publishes a comprehensive annual Political Activity and Lobbying Report. The report includes expenditures for corporate political contributions, 527 contributions, federal and state lobbying, and the Devon Energy Corporation Political Action Committee (DECPAC). As a direct result of stakeholder engagement, our 2019 report includes more detailed disclosures on our trade association memberships. In 2019, as we seek to reduce our costs across the company, we are reducing our political contributions and lobbying expenditures.
Important decisions about energy and the economy require accurate information and thoughtful deliberation at all levels of government. Devon informs and engages policymakers, the public and our employees as we advocate for principles and positions in regulatory and legislative proceedings. To make our views known on proposed rules and laws, Devon participates in business coalitions, industry associations, trade groups and advocacy organizations. We share information with our employees to help them discuss industry issues with their friends and neighbors, and encourage them to vote.
Devon employees are active in a number of industry associations including the Petroleum Alliance of Oklahoma, New Mexico Oil and Gas Association (NMOGA) and the American Petroleum Institute (API). For example, an employee on our health and safety team is participating on API’s Occupational Safety and Health Committee, which is looking into developing a voluntary onshore safety program to elevate overall safety performance in the onshore exploration and production industry. We’re proud to have a Devon representative sharing our values and learning industry best practices on this important API committee.
Regional, state and local advocacy
Devon is active in public policy development at the national level and in states, counties and municipalities where we have operations. As a major operator in New Mexico’s Delaware Basin, in 2018 we engaged with state regulators and lawmakers on permitting, transportation and other issues along with industry peers in NMOGA. Devon also stepped up to be a founding member of the Permian Strategic Partnership, an alliance of oil and gas companies that has committed significant funding toward ensuring community, regional and business sustainability in the Permian Basin.
In Oklahoma, Devon remains active on the Governor’s Coordinating Council on Seismic Activity and was part of Step Up Oklahoma, a nonpartisan business coalition that successfully advocated for state government and budget reforms and increased funding for education.
In 2018, Project 180 improvements were completed in public spaces in downtown Oklahoma City, paid for through tax-increment financing generated by construction of Devon’s corporate headquarters. We’ve also actively supported MAPS, Oklahoma City’s visionary capital improvement and revitalization program that has led to transformational Metropolitan Area Projects completed over the past 25 years.