Gas flaring hit a record low in the U.S. last fall—a trend that Artem Abramov, head of shale research for Rystad Energy, expects will continue.
“Based on what we hear from some E&P companies when we talk to them, I have a high degree of confidence that gas flaring will continue to decline in the next two to three years,” Abramov told Hart Energy in an exclusive interview.
Abramov recently authored a report for Rystad Energy on the decline in onshore gas flaring in the U.S., which plummeted in the third quarter to its lowest level since at least 2012. The nosedive was led by improved flaring practices in the Permian Basin and Bakken through a combination of improved takeaway capacities, investor expectations and COVID-related impacts, according to the Rystad report.
“All large independent producers, they now have quite tangible targets,” Abramov added. “They plan to eliminate routine flaring completely, at latest by 2025 and in exceptional cases by 2030. Right now, many of them are not there yet so there is still some room for improvement.”
Jump to Topic:
- 0:32 - Overview of report’s findings
- 2:40 - What has led to decreases in flaring
- 5:41 - Expected trends in flaring
- 7:13 - Challenges to continued flaring decreases
- 9:36 - Small operator best practices
- 12:18 - Bakken flaring challenges
- 15:36 - Flaring trends over the next year
2022-05-19 - Employment in the U.S. oil and gas industry is set to expand by 12.5% this year, a Rystad report shows.
2022-05-19 - New asset management brand combines Alerian, S-Network Global Indexes, ETF Trends and ETF Database.
2022-05-19 - The $7 billion “merger of equals transaction” of Centennial Resource Developement and Colgate Energy will create the largest pure-play E&P company in the Delaware Basin of the Permian.
2022-05-19 - The flight of capital from the E&P space is among the limiting factors keeping the U.S. from responding to the growing global demand for crude and natural gas, VTX Energy CEO Gene Shepherd told DUG Permian and Eagle Ford attendees.
2022-05-18 - Research by DNV revealed that energy professionals believe that cyberattacks on the industry are likely to cause harm to life, property and the environment in the next two years.