FlexGen Delivers 5 Next Generation Hybrid Drilling Systems for Devon Energy

June 1, 2017

HOUSTON, Texas - June 1, 2017 - FlexGenŽ announced today that it reached an agreement with Devon Energy (NYSE: DVN) to deliver five additional next generation hybrid systems to drilling rigs in Oklahoma and New Mexico. The FlexGenŽ solid state generator (SSG) incorporates software controls, advanced power electronics and energy storage to improve drilling operations, reduce energy and maintenance costs, and improve reliability.

"The next generation SSG greatly improves the resiliency of rig power systems, and cuts fuel costs by 15-25%. For operators like Devon looking to cut operating expenses while improving reliability and efficiency, it is a slam dunk," said FlexGen CEO Josh Prueher.

FlexGenŽ, backed by Altira Group, General Electric, & Caterpillar, develops innovative power equipment for oil & gas, grid and industrial operations. FlexGenŽ products integrate sophisticated software, advanced energy storage, and power conversion technologies to improve cost, reliability, quality, safety, and sustainability of electrical power systems. The FlexGenŽ team includes industry veterans from oil & gas, marine, and construction who lead customer engagements, product commissioning, and field support. Through our network of dealer partners, FlexGenŽ delivers services and products globally.