Discovery Operating records 118.89% increase in production in July 2020

Discovery Operating recorded an increase of 118.89% in total oil and gas production to 10,879.98 boe/d in July 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Discovery Operating declined 21.87% in July 2020 from 13,925.64 boe/d in July 2019.

On a YTD basis, the company’s total oil and gas production decreased by 8.87% from the same period in 2019.

The company’s oil production grew 116.79% to 8,750.59 bd in July 2020 from the previous month, while gas production up by 128.33% to 12.33 mmcf/d. On a YTD basis, oil production decreased by 7.3% in 2020 when compared with the same period in 2019, while gas production declined by 13.43%. Out of the total oil and gas production in July 2020, oil production held an 80.43% share, while gas production held a 19.54% share.

Looking at the states where Discovery Operating recorded the highest oil and gas production in July 2020, Texas figured at the top, accounting for a 100% share. The company produced 10,860.84 boe/d in the state in July 2020, an increase of 119.31% from the previous month.

On a YTD basis, the company produced 55,801 boe/d in Texas in 2020, recording a decrease of 9.12% from the same period in 2019.

Discovery Operating witnessed the highest oil and gas production in Midland county in July 2020. Out of all the counties, Midland county held a share of 61.56% for the firm. The company produced 6,697.36 boe/d in Midland county in July 2020, an increase of 181.91% in production when compared with the previous month.

On a YTD basis, the county produced 38,131.43 boe/d for the company in 2020, a 5.25% 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.