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July 18, 2022

Fina Oil & Chemical records 10.78% decrease in production in March 2020

By Carmen

Fina Oil & Chemical recorded a decrease of 10.78% in total oil and gas production to 366.69 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Fina Oil & Chemical declined 28.54% in March 2020 from 513.12 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production decreased by 22.29% from the same period in 2019.

The company’s oil production declined 12.09% to 63.65 bd in March 2020 from the previous month, while gas production declined by 8.7% to 1.68 mmcf/d. On a YTD basis, oil production decreased by 5.93% in 2020 when compared with the same period in 2019, while gas production declined by 8.15%. Out of the total oil and gas production in March 2020, oil production held a 17.36% share, while gas production held a 78.99% share.


Looking at the states where Fina Oil & Chemical recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for a 100% share. The company produced 357.74 boe/d in the state in March 2020, a decrease of 10.83% from the previous month.

On a YTD basis, the company produced 1,139.34 boe/d in Texas in 2020, recording a decrease of 24.36% from the same period in 2019.



Fina Oil & Chemical witnessed the highest oil and gas production in Starr county in March 2020. Out of all the counties, Starr county held a share of 43.13% for the firm. The company produced 158.17 boe/d in Starr county in March 2020, a decrease of 6.5% in production when compared with the previous month.

On a YTD basis, the county produced 485.86 boe/d for the company in 2020, a 39.86% 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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