Fair Oil LC recorded an increase of 6.93% in total oil and gas production to 307.44 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Fair Oil LC declined 17.89% in August 2021 from 374.44 boe/d in August 2020.
On a YTD basis, the company’s total oil and gas production increased by 5.55% from the same period in 2020.
The company’s oil production grew 14.87% to 154.84 bd in August 2021 from the previous month, while gas production stood at 0.87 mmcf/d. On a YTD basis, oil production increased by 17.49% in 2021 when compared with the same period in 2020, while gas production declined by 3.76%. Out of the total oil and gas production in August 2021, oil production held a 50.36% share, while gas production held a 48.79% share.
Looking at the states where Fair Oil LC recorded the highest oil and gas production in August 2021, New Mexico figured at the top, accounting for a 95.12% share. The company produced 157.57 boe/d in the state in August 2021, an increase of 3.88% from the previous month.
On a YTD basis, the company produced 1,256.09 boe/d in New Mexico in 2021, recording a decrease of 44.4% from the same period in 2020.
Fair Oil LC witnessed the highest oil and gas production in Eddy county in August 2021. Out of all the counties, Eddy county held a share of 51.25% for the firm. The company produced 157.57 boe/d in Eddy county in August 2021, an increase of 3.88% in production when compared with the previous month.
On a YTD basis, the county produced 1,256.09 boe/d for the company in 2021, a 32.46% increase from the same period in 2020.
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.
