Energy Transition

Flaring volumes spike in the Permian 

byIvana Petrich

Satellite-detected flaring data for the Permian shows volumes increased by 22% in the 12 months through September, with July rates nearing the three-year highs last seen in December 2022. Flaring rates in the Midland went up to 1.7x that of the Delaware from May to July, with several upstream operators recording sharp increases during those months. But not all operators ramped up on flaring; wells attached to certain gas gathering systems exhibited noticeably higher rates than others. 

Stepping back, Enverus Intelligence Research (EIR) speculates that these spikes are related to equipment failures from the extreme heat waves that gripped Texas over the summer, with the effects on emissions garnering negative media attention. They expect excess flaring at the wellhead due to takeaway issues will likely challenge the upstream sector’s ability to achieve its short-term ESG goals, particularly regarding flaring intensity. 

Figures are based on nightly irradiance measurements taken by VIIRS instrumentation on board NASA and NOAA satellites. EIR’s recently introduced gas gatherer field allows for quick identification of system bottlenecks that may affect upstream operators. The full dataset is currently available to all ESG Analytics clients (Figure 1). 

Highlights from Energy Transition Research

  1. Subsurface innovation 3Q23 – Mergers, alliances and investments unearthed – What are the main themes of 3Q23 for subsurface innovation? What does EIR expect for Q4? 
  1. Canada CCUS – A balance of risk, innovation and partnership – Members from EIR’s Energy Transition Research® team attended Carbon Capture Canada, a national CCUS conference held in Edmonton in early September. Key themes discussed included the requirement for stakeholder engagement, partnership and communication as key factors for industry success, acknowledgment of risks and challenges pertaining to policy, public perception and operations, and the necessity for continuous innovation. 
  1. Unpacking EPA emissions proposal – Forced coal retirements and rising power costs – The U.S. Environmental Protection Agency has proposed new emission standards for power plants. This prism signal examines the cost implications of its enactment for the sector and for particular companies that would be most impacted by the regulation. 

Energy is changing. Connect weekly with the ideas that are leading the way. 

About Enverus Intelligence®| Research 
Enverus Intelligence® | Research, Inc. (EIR) is a subsidiary of Enverus that publishes energy-sector research focused on the oil, natural gas, power and renewable industries. EIR publishes reports including asset and company valuations, resource assessments, technical evaluations and macro-economic forecasts, and helps make intelligent connections for energy industry participants, service companies and capital providers worldwide. EIR is registered with the U.S. Securities and Exchange Commission as a foreign investment adviser. Click here to learn more. 

Ivana Petrich

Ivana Petrich

Ivana is an ESG analyst on the Enverus Energy Transition Research team. She joined the firm in 2022 from PGIM Fixed Income in London, U.K., where she managed Nordic and Dutch institutional investor relationships with heavily ESG-focused active fixed income strategies. Prior to PGIM, she spent six years in client management at Insight Investment, Russell Investments and Bank of New York Mellon Investment Management EMEA, working closely with U.K. and European defined benefit pension schemes and corporate treasurers. Ivana graduated from the University of Delaware with a bachelor’s of science degree in finance and international business. She is a CFA charterholder and holds the Investment Management Certificate from the CFA Society of the U.K.

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