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"Oil Firms Flare Texas Gas As Investors Vent On Climate"

"HOUSTON - Across the Permian Basin’s high desert landscape, natural gas is going up in smoke even as oil majors including Exxon Mobil and BP pledge cuts in greenhouse gas emissions.

Flaring, the deliberate burning of unwanted polluting gas, is rife during oil production in the biggest U.S. shale field, and an acute problem in Texas, home to most of the Permian reservoir, which sprawls 86,000 square miles (220,000 km2) across two states.

Loose regulation in Texas means that companies including Exxon, Matador Resources and privately-held BTA Oil Producers last year burned off gas at more than twice the rate as in neighboring New Mexico, a Reuters analysis of data compiled by Rystad Energy from more than 50 of the largest producers shows. Some drillers burned natural gas at up to six times the rate in Texas as they did over the state line, the data shows."

Jennifer Hiller reports for Reuters March 12, 2020.

Source: Reuters, 03/13/2020