Founders Oil & Gas Operating records 13.75% increase in production in July 2020

Founders Oil & Gas Operating recorded an increase of 13.75% in total oil and gas production to 1,016.78 boe/d in July 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Founders Oil & Gas Operating grew 94.56% in July 2020 from 522.6 boe/d in July 2019.

On a YTD basis, the company’s total oil and gas production increased by 142.69% from the same period in 2019.

The company’s oil production grew 13.45% to 876.29 bd in July 2020 from the previous month, while gas production up by 15.71% to 0.81 mmcf/d. On a YTD basis, oil production increased by 134.01% in 2020 when compared with the same period in 2019, while gas production rose by 206.67%. Out of the total oil and gas production in July 2020, oil production held an 86.18% share, while gas production held a 13.73% share.

Looking at the states where Founders Oil & Gas Operating recorded the highest oil and gas production in July 2020, Texas figured at the top, accounting for a 100% share. The company produced 1,016.78 boe/d in the state in July 2020, an increase of 13.75% from the previous month.

On a YTD basis, the company produced 6,768.87 boe/d in Texas in 2020, recording an increase of 142.69% from the same period in 2019.

Founders Oil & Gas Operating witnessed the highest oil and gas production in Ector county in July 2020. Out of all the counties, Ector county held a share of 100% for the firm. The company produced 1,016.78 boe/d in Ector county in July 2020, an increase of 13.75% in production when compared with the previous month.

On a YTD basis, the county produced 6,768.87 boe/d for the company in 2020, a 143.71% 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.