Exploration & Production

Health, Safety & Environment

Permian Basin Flaring Puts Value of Natural Gas in Spotlight

A recent report sheds light on best practices of Permian operators that include Chevron Corp.

Velda

Addison

Hart Energy

Tue, 06/16/2020 - 08:00 AM

Burning excess natural gas is a common practice among some operators when prices deem it uneconomic to transport gas to market. (Source: Shutterstock.com)

Burning excess natural gas is a common practice among some operators when prices deem it uneconomic to transport gas to market. (Source: Shutterstock.com)

Neither size, geographical footprint nor classification as an independent or integrated matter when it comes to reducing the amount of natural gas flared. It comes down to governance and leadership from the board room to the field, commitment and best-in-class practices, according to a recent study by Gaffney, Cline & Associates.

The research on how leading Permian Basin operators are keeping flaring levels in check, prepared on behalf of the Environmental Defense Fund (EDF), puts the practices of Chevron Corp., EOG Resources Inc., Occidental Petroleum Corp., Parsley Energy Inc. and Pioneer Natural Resources Co. in the spotlight. The companies have natural gas flaring rates ranging from less than 1% to 2.6% in the Permian Basin, which is below the basin’s average of 3.7%.

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Velda Addison

Velda Addison is the group senior editor for Hart Energy’s editorial team. She covers exploration and production.

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