View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Market Data
July 18, 2022

Grace Petroleum Operating records 7.64% decrease in production in March 2020

By Carmen

Grace Petroleum Operating recorded a decrease of 7.64% in total oil and gas production to 249.86 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Grace Petroleum Operating declined 19.18% in March 2020 from 309.16 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production decreased by 4.4% from the same period in 2019.

The company’s oil production declined 10.13% to 205.66 bd in March 2020 from the previous month, while gas production up by 8.33% to 0.26 mmcf/d. On a YTD basis, oil production decreased by 1.02% in 2020 when compared with the same period in 2019, while gas production declined by 18.75%. Out of the total oil and gas production in March 2020, oil production held an 82.31% share, while gas production held a 17.94% share.


Looking at the states where Grace Petroleum Operating recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for a 100% share. The company produced 249.86 boe/d in the state in March 2020, a decrease of 7.64% from the previous month.

On a YTD basis, the company produced 803.59 boe/d in Texas in 2020, recording a decrease of 4.4% from the same period in 2019.



Grace Petroleum Operating witnessed the highest oil and gas production in Gaines county in March 2020. Out of all the counties, Gaines county held a share of 47.65% for the firm. The company produced 119.07 boe/d in Gaines county in March 2020, a decrease of 4.78% in production when compared with the previous month.

On a YTD basis, the county produced 363.89 boe/d for the company in 2020, a 17.28% 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.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Offshore Technology