New Mexico reaches record settlement over natural gas flaring in the Permian Basin

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 reached for a civil oil and gas violation. It stems from the flaring of billions of cubic feet of natural gas the company had extracted but wasn't able to transport to downstream processors. It was enough gas to have supplied nearly 17,000 homes for a year. State regulators say the pollution included gases known to cause respiratory issues and contribute to climate change.