Devon Energy Named World’s Fastest Growing Oil and Gas Brand

Following the completion of its merger with WPX Energy and increasing focus on ESG, Devon Energy’s brand value has tripled to $2.3 billion, a new report shows.

Devon-Energy-Named-Most-Valuable-Brand-Oil-Gas

Oklahoma-based Devon Energy was named the world’s fastest growing brand in the oil and gas sector due to higher commodity prices and an increased focus on addressing ESG priorities. (Source: Postmodern Studio/Shutterstock.com)

Despite COVID-19, the conflict in Ukraine and an increased focus on climate change causing widespread disruption to the energy sector globally, oil and gas companies continue to increase their global brand value, a new report shows.

Oklahoma-based Devon Energy was named the world’s fastest growing brand in the oil and gas sector due to higher commodity prices and an increased focus on addressing ESG priorities, according to a report by brand value consultancy Brand Finance.

Following the completion of its merger with peer WPX Energy last year, Devon’s brand value tripled to $2.3 billion and the U.S. shale producer made it to the top 50 oil and gas brands in the world for the first time.

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Faiza Rizvi

Faiza Rizvi is a senior editor of ESG for Hart Energy's editorial department, with a strong focus on E&P Plus and HartEnergy.com. She has been covering all facets of the U.S. and international energy industry for over 5 years.