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September 15, 2022

Chesapeake Operating records 27.37% decrease in production in May 2020

By Carmen

Chesapeake Operating recorded a decrease of 27.37% in total oil and gas production to 3,88,040.79 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Chesapeake Operating declined 27.44% in May 2020 from 5,34,818.89 boe/d in May 2019.

On a YTD basis, the company’s total oil and gas production decreased by 3.33% from the same period in 2019.

The company’s oil production declined 45.22% to 95,700.4 bd in May 2020 from the previous month, while gas production declined by 15.68% to 1,670.15 mmcf/d. On a YTD basis, oil production decreased by 6.72% in 2020 when compared with the same period in 2019, while gas production declined by 2.54%. Out of the total oil and gas production in May 2020, oil production held a 24.66% share, while gas production held a 74.21% share.


Looking at the states where Chesapeake Operating recorded the highest oil and gas production in May 2020, Louisiana figured at the top, accounting for a 10.72% share. The company produced 2,31,713.59 boe/d in the state in May 2020, a decrease of 2.11% from the previous month.

On a YTD basis, the company produced 11,53,126.42 boe/d in Louisiana in 2020, recording a decrease of 56.54% from the same period in 2019.



Chesapeake Operating witnessed the highest oil and gas production in De Soto county in May 2020. Out of all the counties, De Soto county held a share of 20.81% for the firm. The company produced 80,762.27 boe/d in De Soto county in May 2020, a decrease of 2.32% in production when compared with the previous month.

On a YTD basis, the county produced 5,17,874.43 boe/d for the company in 2020, a 10.35% 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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