Natural gas worth tens of billions of dollars is flared annually, which leads to resource waste and environmental issues. This work introduces and analyzes a novel concept for flared gas utilization, wherein the gas that would have been flared is instead used to condense atmospheric moisture. Natural gas, which is currently being flared, can alternatively power refrigeration systems to generate the cooling capacity for large scale atmospheric water harvesting (AWH). This approach solves two pressing issues faced by the oil–gas industry, namely gas flaring, and sourcing water for oilfield operations like hydraulic fracturing, drilling and water flooding. Multiple technical pathways to harvest atmospheric moisture by using the energy of natural gas are analyzed. A modeling framework is developed to quantify the dependence of water harvest rates on flared gas volumes and ambient weather. Flaring patterns in the Eagle Ford Shale in Texas and the Bakken Shale in North Dakota are analyzed to quantify the benefits of AWH. Overall, the gas currently flared annually in Texas and North Dakota can harvest enough water to meet 11% and 65% of the water consumption in the Eagle Ford and the Bakken, respectively. Daily harvests of upto 30 000 and 18 000 gallons water can be achieved using the gas currently flared per well in Texas and North Dakota, respectively. In fifty Bakken sites, the water required for fracturing or drilling a new well can be met via onsite flared gas-based AWH in only 3 weeks, and 3 days, respectively. The benefits of this concept are quantified for the Eagle Ford and Bakken Shales. Assessments of the global potential of this concept are presented using data from countries with high flaring activity. It is seen that this waste-to-value conversion concept offers significant economic benefits while addressing critical environmental issues pertaining to oil–gas production.