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August 18, 2022

Banner Operating records 23.43% decrease in production in April 2020

By Carmen

Banner Operating recorded a decrease of 23.43% in total oil and gas production to 510.87 boe/d in April 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Banner Operating declined 39.35% in April 2020 from 842.36 boe/d in April 2019.

On a YTD basis, the company’s total oil and gas production decreased by 16.07% from the same period in 2019.

The company’s oil production declined 27.75% to 160.13 bd in April 2020 from the previous month, while gas production declined by 19.51% to 1.98 mmcf/d. On a YTD basis, oil production decreased by 38.18% in 2020 when compared with the same period in 2019, while gas production declined by 2.72%. Out of the total oil and gas production in April 2020, oil production held a 31.34% share, while gas production held a 66.82% share.


Looking at the states where Banner Operating recorded the highest oil and gas production in April 2020, Texas figured at the top, accounting for a 100% share. The company produced 510.87 boe/d in the state in April 2020, a decrease of 23.43% from the previous month.

On a YTD basis, the company produced 2,796.57 boe/d in Texas in 2020, recording a decrease of 16.07% from the same period in 2019.



Banner Operating witnessed the highest oil and gas production in Tom Green county in April 2020. Out of all the counties, Tom Green county held a share of 91.35% for the firm. The company produced 466.69 boe/d in Tom Green county in April 2020, a decrease of 23.71% in production when compared with the previous month.

On a YTD basis, the county produced 2,579.14 boe/d for the company in 2020, a 14.76% 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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