Methane continues to escape at a high rate from oil and gas operations in the Permian Basin, according to an aerial survey released Dec. 14 that detected major methane plumes from 40% of 900 sites that were measured.
The latest research conducted by the Environmental Defense Fund (EDF) via helicopter during the first two weeks of November found that 14% of those plumes were the result of malfunctioning flares.
Researchers also found that at one-third of smaller wells significant emissions persisted for days. The aerial survey of the largest U.S. oil field showed that leaks arose from different pieces of equipment at different times.
This was the eighth aerial survey conducted by EDF’s PermianMAP initiative, which monitors methane from the upstream, downstream and midstream operations in the oil field. The survey comes weeks after the U.S. EPA proposed the first regulations targeting methane from the country’s existing oil and gas facilities.
The Biden administration also set a goal to reduce 30% of all methane emissions by 2030 as part of its participation in the Global Methane Pledge, which was formally launched at the U.N. Climate summit in Glasgow.
“This research makes clear that the agency [EPA] must tackle frequent, large emissions from smaller wells if we’re going to have a shot at achieving our climate goals and protecting communities from air pollution,” said Jon Goldstein, senior director of regulatory and legislative affairs at the EDF.
Oil and gas companies that operate in the Permian Basin have tried to show they intend to address the high rate of methane emissions from the basin ahead of the forthcoming EPA rules.
The Permian Basin accounts for 20% of Exxon Mobil Corp.’s total oil and gas operations. The oil major said on Dec. 13 it will deploy advanced satellite technology and data-processing platforms to detect methane emissions.
Recommended Reading
Sector’s Appetite for Capital Remains Amid Consolidation Frenzy, Panelists Say
2024-05-17 - There’s still an appetite for capital in the oil and gas sector—companies just need to think creatively to find it, a number of panelists said during SUPER DUG in Fort Worth, Texas.
Utility, Clean Energy Company Allete to Go Private in $6.2B Deal
2024-05-06 - The Minnesota-based utility said on May 6 it agreed to be acquired by a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners.
TotalEnergies to Invest $400MM in LPG
2024-05-14 - TotalEnergies is investing more than $400 million into LPG to provide more than 100 million people in Africa and Asia access to clean cooking methods by 2030.
Stockholder Groups to Sell 48.5MM of Permian Resources’ Stock
2024-03-06 - A number of private equity firms will sell about 48.5 million shares of Permian Resources Corp.’s Class A common stock valued at about $764 million.
TC Energy Appoints Sean O’Donnell as Executive VP, CFO
2024-04-03 - Prior to joining TC Energy, O’Donnell worked with Quantum Capital Group for 13 years as an operating partner and served on the firm’s investment committee.