New Mexico reaches record settlement with company over natural gas flaring [Video]

New Mexico has reached a record settlement with a Texas-based company over air pollution violations at natural gas gathering sites in the Permian Basin.

The $24.5 million agreement with Ameredev announced Monday is the largest settlement the state Environment Department has ever reached for a civil oil and gas violation. It stems from the flaring of billions of cubic feet of natural gas that the company had extracted over an 18-month period but wasn’t able to transport to downstream processors.

Environment Secretary James Kenney said in an interview that the flared gas would have been enough to have supplied nearly 17,000 homes for a year.

FREIGHT TRAIN CARRYING GASOLINE, PROPANE DERAILS NEAR ARIZONA-NEW MEXICO LINE AMID AFTERMATH OF SEVERE WEATHER

“It’s completely the opposite of the way it’s supposed to work,” Kenney said. “Had they not wasted New Mexico’s resources, they could have put that gas to use.”

The flaring, or burning …