Baker Hughes (NASDAQ: BKR) shares gained Thursday, as the energy technology company announced a breakthrough in flare emissions monitoring following a collaboration with bp.
Using Baker Hughes’ emissions abatement technology, flare.IQ, bp is quantifying methane emissions from its flares, a new application for the upstream oil and gas sector.
With no universally accepted solution to quantifying methane emissions from flares, bp and Baker Hughes conducted one of the largest ever full-scale studies of flare combustion, including testing a range of flares under challenging conditions and verifying the accuracy of flare.IQ technology.
Now, acting on real-time data from flare.IQ at 65 flares across seven regions, bp can carry out early interventions and reduce emissions from flaring.
Part of Baker Hughes’ Panametrics product line portfolio, flare.IQ builds on four decades of ultrasonic flare metering technology experience. Its advanced analytics platform enables operators to pull critical information from their flare systems, including temperature, pressure, vent gas velocities and gas composition, helping maximize combustion efficiency and minimize emissions.
flare.IQ enables emissions reporting based on real-time measurement, in compliance with OGMP 2.0 level 4. Alongside flare.IQ, Baker Hughes has a broad, proven portfolio of emissions abatement technologies capable of improving productivity, efficiency and delivering increased value at scale across customer operations.
BKR shares jumped 29 cents to $32.04.
