Flaring burns more than $100 million a month

by SamCogar Wed Jul 31, 2013 6:34 am

And that's OK because the Black Gold is flowing faster.

NEW YORK -- Oil drillers in North Dakota's Bakken shale fields are allowing nearly a third of the natural gas they drill to burn off into the air, with a value of more than $100 million per month, according to a study to be released on Monday.

The amount lost to flaring pales in comparison to the $2.21 billion in crude oil production for May in North Dakota.

Still, energy companies are working to build more pipelines and processing facilities to connect many of the state's 9,000 wells - a number expected to hit 50,000 by 2030.

Read more @: http://www.nbcnews.com/business/flaring-burns-more-100-million-month-north-dakota-6C10798151

50,000 oil/gas wells?

It is no wonder the Saudi Oil Barons are getting mighty worried about their "cash flow".