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August 18, 2022

Abraxas Petroleum records 64.33% decrease in production in April 2020

By Carmen

Abraxas Petroleum recorded a decrease of 64.33% in total oil and gas production to 4,644.18 boe/d in April 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Abraxas Petroleum declined 77.74% in April 2020 from 20,862.45 boe/d in April 2019.

On a YTD basis, the company’s total oil and gas production decreased by 48.82% from the same period in 2019.

The company’s oil production declined 66.05% to 2,608.08 bd in April 2020 from the previous month, while gas production declined by 62% to 11.73 mmcf/d. On a YTD basis, oil production decreased by 53.72% in 2020 when compared with the same period in 2019, while gas production declined by 40.25%. Out of the total oil and gas production in April 2020, oil production held a 56.16% share, while gas production held a 43.55% share.


Looking at the states where Abraxas Petroleum recorded the highest oil and gas production in April 2020, North Dakota figured at the top, accounting for a 41.17% share. The company produced 3,289.79 boe/d in the state in April 2020, a decrease of 61.28% from the previous month.

On a YTD basis, the company produced 30,518.69 boe/d in North Dakota in 2020, recording a decrease of 65.41% from the same period in 2019.



Abraxas Petroleum witnessed the highest oil and gas production in Mckenzie county in April 2020. Out of all the counties, Mckenzie county held a share of 70.06% for the firm. The company produced 3,253.81 boe/d in Mckenzie county in April 2020, a decrease of 61.4% in production when compared with the previous month.

On a YTD basis, the county produced 30,267.19 boe/d for the company in 2020, a 54.55% decrease from the same period in 2019.



Methodology

All publicly announced wells data are included in this analysis, which is drawn from GlobalData’s USL48 database that provides insights into oil and gas permits and wells as disclosed by state ministry sites.

GlobalData collects the latest production data and analyses the trends when it is made available for public disclosure by state ministries. Differences, if any, between the period of activity and the article date may be attributed to delays in the issuance of data.

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