The global oil & gas industry experienced a 17% drop in company filings mentions of gas flaring in Q4 2023 compared with the previous quarter, with the highest share accounted for by Targa Resources with 147% year-on-year increase, according to GlobalData’s analysis of over 78 oil & gas company filings. GlobalData’s Oil & Gas: Filings Trends & Signals Q4 2023 report delves into earnings call transcripts and quarterly reports within the industry, extracting trends, signals, and comparative data to help businesses assess their performance, identify competitive intelligence, evaluate risks, and gain a comprehensive understanding of key industry events. Buy the report here.
Notably, gas flaring was one of the most frequently referenced themes in Q4 2023, ranking highest in terms of mentions, ahead of artificial intelligence and industrial automation, according to GlobalData.
Of the top leading companies in the oil & gas industry, Targa Resources had the greatest increase in references for gas flaring in Q4 2023, compared with the previous quarter. GlobalData identified 42 gas flaring-related sentences in the company's filings - 2% of all sentences - and an increase of 147% in Q4 2023 compared with Q4 2022. Ecopetrol’s mentions of gas flaring rose by 550% to 13 and Oneok’s by 42% to 7 and Tourmaline Oil’s by 17% to 7 and Coterra Energy’s by 100% to 6.
GlobalData’s Company Filings Analytics also applies sentiment weight to reference sentences, based on whether the sentences are positive, negative, or neutral. Starting at 100 in 2020, an index over 100 is more positive. The overall index for gas flaring in Q4 2023 was 112.
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For further understanding of GlobalData's Oil & Gas: Filings Trends & Signals Q4 2023, buy the report here.
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