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July 18, 2022

Legacy Reserves Operating records 10.22% decrease in production in March 2020

By Carmen

Legacy Reserves Operating recorded a decrease of 10.22% in total oil and gas production to 23,286.25 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Legacy Reserves Operating declined 15.73% in March 2020 from 27,634.33 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production decreased by 6.91% from the same period in 2019.

The company’s oil production declined 10.62% to 16,460.78 bd in March 2020 from the previous month, while gas production declined by 9.11% to 39.53 mmcf/d. On a YTD basis, oil production decreased by 10.68% in 2020 when compared with the same period in 2019, while gas production rose by 4.17%. Out of the total oil and gas production in March 2020, oil production held a 70.69% share, while gas production held a 29.27% share.


Looking at the states where Legacy Reserves Operating recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for an 8.34% share. The company produced 11,653.07 boe/d in the state in March 2020, a decrease of 13.51% from the previous month.

On a YTD basis, the company produced 41,342.9 boe/d in Texas in 2020, recording a decrease of 50.39% from the same period in 2019.



Legacy Reserves Operating witnessed the highest oil and gas production in Lea county in March 2020. Out of all the counties, Lea county held a share of 39.35% for the firm. The company produced 9,162.76 boe/d in Lea county in March 2020, a decrease of 6.54% in production when compared with the previous month.

On a YTD basis, the county produced 28,507.01 boe/d for the company in 2020, a 14.86% 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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