Yep! There are two types of oil wells, producers and injectors. Producers produce raw production fluids and gas. Those production fluids/gases need to go through a 3-phase separate vessel to separate the oil, water, and gas. The water and gas is sent back into the ground with the injection wells. The reason for this is to maintain the pressure of the reservoir underground, and to dispose of the fluids/gases.

Some amount of gas is flared (burned) off from the separation facility, and also from refineries. The purpose of the flare is for process safety. If there's an overpressure event, or an equipment shutdown, all the gas production from the field needs to go somewhere while the production wells are shutdown. For that time period, any gas is burned off to prevent a catastrophic failure in the facility.

The amount of gas being flared is monitored and regulated, and any flare event is recorded and reported to the appropriate agencies, generally the EPA, and Relevant state agencies.