The amount of gas being flared in North Dakota is about 150 million cubic feet per day [0], worth (at $3.95/thousand cubic feet, at the wellhead [1]) $220 million per year.
The amount of oil being sold is 728,000 barrels per day [2], at $95/barrel, worth $25.3 billion (B) per year.
For the oil producers, this flaring is a financial rounding error (<1%). I think it's credible that $200M/year of gas, distributed over hundreds of oil wells, can be unprofitable to recover.
In various metrics: the natural gas flared / oil produced is
The amount of gas being flared in North Dakota is about 150 million cubic feet per day [0], worth (at $3.95/thousand cubic feet, at the wellhead [1]) $220 million per year.
The amount of oil being sold is 728,000 barrels per day [2], at $95/barrel, worth $25.3 billion (B) per year.
For the oil producers, this flaring is a financial rounding error (<1%). I think it's credible that $200M/year of gas, distributed over hundreds of oil wells, can be unprofitable to recover.
In various metrics: the natural gas flared / oil produced is
* 0.9% of the value ($$$)
* 3.7% of the raw energy (Joules)
* 2.6% of the raw carbon (-> CO2)
[0] http://www.nytimes.com/2011/09/27/business/energy-environmen...
[1] http://www.eia.gov/dnav/ng/ng_pri_sum_dcu_nus_a.htm
[2] http://online.wsj.com/article/SB1000142412788732429660457817...