This New Tech Could Help Eliminate Natural Gas Flaring In America’s Shale Fields [Forbes]
BP p.l.c. (BP)
Last bp p.l.c. earnings: 4/29 04:01 pm
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Source: Forbes
Gas flare at dusk, near Mentone, Texas. (Bronte Wittpenn/Bloomberg)© 2019 Bloomberg Finance LPThe state of Texas has a flaring problem. It’s not a secret – it has been big news for years now, as the elected regulators at the Texas Railroad Commission have come under increasing pressure to take action to effectively reduce the high volumes of natural gas the industry has been flaring, especially in the Permian Basin in recent years.Flaring volumes have dropped significantly during 2020, mainly due to the shutting-in of thousands of wells as a result of the collapse in oil process and other impacts of the COVID-19 pandemic. But that’s just temporary relief – those volumes are rising again in recent months as most of those wells have been placed back onto production in response to improved prices.The state is conflicted on the matter. Regulators really don’t want to force producers to shut-in wells that create billions in tax revenues to state and local governments, or unnecessarily impa
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