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  1. Market Data
July 18, 2022

Element Petroleum Operations III records 27.57% decrease in production in March 2020

By Carmen

Element Petroleum Operations III recorded a decrease of 27.57% in total oil and gas production to 2,746.84 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Element Petroleum Operations III grew 108.04% in March 2020 from 1,320.34 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production increased by 134.27% from the same period in 2019.

The company’s oil production declined 26.33% to 2,740.52 bd in March 2020 from the previous month, while gas production declined by 90.48% to 0.04 mmcf/d. On a YTD basis, oil production increased by 150.09% in 2020 when compared with the same period in 2019, while gas production declined by 57.23%. Out of the total oil and gas production in March 2020, oil production held a 99.77% share, while gas production held a 0.25% share.


Looking at the states where Element Petroleum Operations III recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for a 100% share. The company produced 2,746.84 boe/d in the state in March 2020, a decrease of 27.57% from the previous month.

On a YTD basis, the company produced 8,763.23 boe/d in Texas in 2020, recording an increase of 134.27% from the same period in 2019.



Element Petroleum Operations III witnessed the highest oil and gas production in Martin county in March 2020. Out of all the counties, Martin county held a share of 100% for the firm. The company produced 2,746.84 boe/d in Martin county in March 2020, a decrease of 27.57% in production when compared with the previous month.

On a YTD basis, the county produced 8,763.23 boe/d for the company in 2020, a 134.27% increase 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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