A recent analysis from S&P Global Commodity Insights shows that methane emissions from oil and gas operations in the Permian Basin, the nation’s largest energy-producing region, have declined at an unprecedented pace.

According to the report, between 2022 and 2024, methane intensity in the basin fell by more than 50 percent, reaching just 0.44 percent per barrel of oil equivalent in 2024. The report also found a 29 percent drop from 2023 alone, driven by improved equipment, stronger operational practices, and the use of advanced technologies like AI-driven leak detection, on-the-ground sensors, and aerial monitoring.

Key Findings

• Methane Emissions: Intensity dropped by more than 50 percent from 2022 to 2024.
• Absolute Emissions: Fell by 55.2 billion cubic feet over the same period, which is the equivalent of avoiding 28.8 million tons of CO2.
• Perspective: The reductions surpass total emissions cuts from the UK power sector in the same timeframe and are 15 percent greater than emissions avoided by all EVs sold in the U.S. and EU combined.

The report’s findings were produced in partnership with a leading methane management firm, Insight M, and are based on high frequence observation data that includes more than 500 high-resolution aerial surveys covering 90% of the basin’s 3.9 billion boe produced in 2024 to provide the most accurate, basin-wide estimate of methane emissions.

Notably, S&P reported that its overflight data showed reductions across all observable plume rates, from large to small methane emission sources.

Methane is one of the most potent greenhouse gases and reductions of this scale highlight the significant industry innovation taking place in the Permian Basin. Whether it’s advanced methane detection, electrification of operations, and low-emission drilling technologies, oil and gas operators have significantly driven reductions in greenhouse gas emissions while enhancing operational efficiency.

According to S&P Global, the findings confirm that emissions management is becoming standard practice in the field. Oilfield service companies are now designing equipment with lower emissions in mind, while operators are increasingly relying on machine learning to not just “find and fix” leaks, but to “predict and prevent” them altogether.

“Operators in the Lone Star state readily adopted emission management practices as a standard part of field operations, demonstrating their commitment to responsible production. S&P’s data is evidence that our commitment is not only ongoing, but effective,” Ed Longanecker, President of Texas Independent Producers and Royalty Owners said. “Now, operators are finding AI to be an effective tool in field operations and emission management. Using it to not only detect emissions with improved speed and accuracy, but anticipating and averting them altogether. AI is proving to be a valuable tool for responsible oil and gas production.”

In 2024, the Permian Basin reached record production levels, growing 10% compared with other U.S. shale plays. Analysts expect this growth trajectory to continue, making the basin a key driver of the nation’s oil and natural gas supply. Reliable emissions data is therefore critical, not only to track progress but also to demonstrate U.S. leadership in reducing emissions. In fact, 2023 had previously marked one of the lowest methane intensity levels in the basin this decade at 0.49 metric tons per barrel of oil equivalent (MT/boe). Since 2011, methane intensity has fallen by nearly 83%, even as overall production rose by 482%.

U.S. oil and gas producers, particularly in Texas and the Permian Basin, are demonstrating that growing energy demand can be met responsibly. The latest methane and flaring data show that reliable energy and environmental stewardship can go hand in hand. The industry remains committed to advancing new technologies and processes to meet today’s needs while ensuring future supplies for American households, allies and trade partners abroad.