President Donald Trump announced on Oct. 27 in Lubbock that he would approve easing federal methane regulations. The Texas Oil & Gas Association and the Texas Independent Producers & Royalty Owners Association said the move was good news from a number of standpoints.
TXOGA President Todd Staples said the Texas oil and natural gas industry is committed to reducing methane intensity while meeting growing domestic and global demand for energy. Staples said Permian Basin operators have cut methane intensity by nearly two-thirds since 2022 through voluntary partnerships. He praised the EPA's proposed approach to the 2024 methane rule.
TIPRO President Ed Longanecker said the proposed revisions to the 2024 standards for methane and VOC emissions from oil and natural gas operations do not need congressional approval. The proposal was published in the Federal Register on Oct. 29. Longanecker cited EPA estimates of $45 billion in present value savings from 2027 through 2050, using a 3-percent discount rate, along with additional production of 210 million barrels of oil and 1.41 trillion cubic feet of natural gas.