Formentera Operating recorded a decrease of 1.41% in total oil and gas production to 17,478.95 boe/d in July 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Formentera Operating declined 35.97% in July 2020 from 27,299.85 boe/d in July 2019.
On a YTD basis, the company’s total oil and gas production decreased by 22.53% from the same period in 2019.
The company’s oil production declined 1.25% to 10,153.71 bd in July 2020 from the previous month, while gas production declined by 1.4% to 38.69 mmcf/d. On a YTD basis, oil production decreased by 23.64% in 2020 when compared with the same period in 2019, while gas production declined by 22.54%. Out of the total oil and gas production in July 2020, oil production held a 58.09% share, while gas production held a 38.16% share.
Looking at the states where Formentera Operating recorded the highest oil and gas production in July 2020, Texas figured at the top, accounting for a 100% share. The company produced 9,001.55 boe/d in the state in July 2020, a decrease of 1.03% from the previous month.
On a YTD basis, the company produced 65,159.65 boe/d in Texas in 2020, recording a decrease of 65.46% from the same period in 2019.
Formentera Operating witnessed the highest oil and gas production in Wheeler county in July 2020. Out of all the counties, Wheeler county held a share of 36.68% for the firm. The company produced 6,410.72 boe/d in Wheeler county in July 2020, a decrease of 3.25% in production when compared with the previous month.
On a YTD basis, the county produced 46,901.77 boe/d for the company in 2020, an 8.97% 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.
