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Ohio Utica Shale

Investors press company to halt wasteful flaring

By Bob Downing Published: January 10, 2013

From a press release:

 

Investors Press Continental Resources to End Wasteful Flaring of Natural Gas

Large Oil Developer Burns Off Natural Gas as Other Firms Set Flaring Reduction Goals

The rapid growth in domestic oil production has set the United States on track to become the world’s top oil producer by 2015, but investors are wary of the environmentally damaging practices associated with that growth, specifically the burning off – or flaring – of natural gas that is produced as a byproduct from oil wells.

In North Dakota’s Bakken shale region, among other key shale regions, widespread flaring across millions of acres lights up the night sky, burning off enough energy each day to heat half a million homes.

Acting on that concern, Mercy Investment Services, Inc. has filed a shareholder resolution with Continental Resources, Inc., a major Oklahoma-based oil developer operating in the Bakken, requesting that the firm “adopt quantitative, company-wide goals, based on current technologies, for reducing or eliminating flaring in all operations and facilities under the company’s financial or operational control.”

Read more about the risks flaring poses -- and learn what can be done!

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