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Global warming

Methane Emissions in Permian Basin Decline by 50% Amid Improved Operations and Technological Advancements

Strategic Insights

— 1 min read

The Permian Basin, a region responsible for half of the US oil production and one-fifth of its natural gas, has seen a significant decline in methane emissions intensity due to improved operations, better equipment, and the adoption of advanced technologies. According to a new analysis by S&P Global Commodity Insights, the methane emissions intensity of upstream oil and gas operations in the region dropped by 29% in 2024, resulting in a 22% decline in absolute annual methane emissions. This reduction is equivalent to 11.1 million tons of carbon dioxide emissions avoided.

Key Takeaways:

  • The methane intensity of oil and gas production in the Permian Basin declined by 50% during the 2022-2024 period due to improved operations and technological advancements.
  • The methane emissions intensity of upstream oil and gas operations in the region was 0.44% per barrel of oil equivalent in 2024, a 29% reduction from the previous year.
  • Absolute annual methane emissions decreased by 21.3 billion cubic feet (bcf) in 2024, a 22% decline from the previous year.
  • The reduction in methane emissions is equivalent to 11.1 million tons of carbon dioxide emissions avoided using a 100-year equivalency factor of 28.
  • Since the end of 2022, absolute emissions have declined by 55.2 bcf, equivalent to 28.8 MMT of carbon dioxide emissions avoided.

Statistics:

  • Methane emissions intensity of upstream oil and gas operations in the Permian Basin: 0.44% per barrel of oil equivalent (2024)
  • Reduction in methane emissions intensity: 29% (2024 vs. previous year)
  • Absolute annual methane emissions decrease: 21.3 billion cubic feet (bcf), a 22% decline from the previous year (2024)
  • Carbon dioxide emissions avoided: 11.1 million tons (2024, using a 100-year equivalency factor of 28)
  • Cumulative emissions reduction since the end of 2022: 55.2 bcf, equivalent to 28.8 MMT of carbon dioxide emissions avoided

Sources:

  • S&P Global Commodity Insights

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