1. Brent J. Smolik joined Devon Energy's Board on October 1, 2025. 2. Smolik brings 40 years of oil and gas industry experience. 3. Devon's board now has 11 members, mostly independent. 4. His expertise will guide Devon into the future. 5. CEO emphasizes value delivery to shareholders with Smolik's insights.
Bringing an experienced board member could enhance strategic direction and performance. Historical examples show that new leadership can improve investor confidence and stock performance.
Smolik's experience addresses both operational and strategic needs for the company, likely improving future performance.
Strategic guidance will take time to materialize in operational improvements and financials. Previous leadership changes often have gradual yet positive effects on stock performance.
OKLAHOMA CITY, Oct. 02, 2025 (GLOBE NEWSWIRE) -- Devon Energy Corp. (NYSE:DVN) announced today that Brent J. Smolik has joined its Board of Directors effective Oct. 1. Mr. Smolik is the former president and chief operating officer of Noble Energy and president, CEO and chairman of the board of EP Energy Corporation.
"We are pleased to welcome Brent Smolik to our Board of Directors," said Clay Gaspar, president and CEO. "His leadership and strategic insight will be instrumental as we continue to deliver value to our shareholders."
"Brent's extensive experience, combined with his operational and technical expertise in the oil and gas industry, will be valuable as we guide the company into the future," said John Bethancourt, Devon's Chair. "His proven track record in both upstream and midstream sectors, as well as his prior service on multiple public company boards, will provide important perspective."
Mr. Smolik, 64, has over 40 years of experience in the oil and gas industry, holding senior executive roles at Noble Energy, Noble Midstream Partners LP, EP Energy Corporation, El Paso Corporation, ConocoPhillips, and Burlington Resources. He most recently served as president and chief operating officer at Noble Energy until retiring after its merger with Chevron in 2020. Mr. Smolik has also served on the boards of Marathon Oil Corporation, Noble Midstream Partners LP, Cameron International, and Encino Acquisition Partners.
Devon's Board determined that Mr. Smolik is independent and appointed him to the audit and safety, operations, and resource committees. With this appointment, Devon's board will comprise 11 members, 10 of whom are independent.
ABOUT DEVON ENERGY
Devon Energy is a leading oil and gas producer in the U.S. with a diversified multi-basin portfolio headlined 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.
| Investor Contact investor.relations@dvn.com 405-228-4450 | Media Contact Michelle Hindmarch 405-552-7460 |
