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December 3, 2021

M G F Oil records 13.67% increase in production in August 2021

By Carmen

M G F Oil recorded an increase of 13.67% in total oil and gas production to 120.97 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of M G F Oil grew 23.23% in August 2021 from 98.17 boe/d in August 2020.

On a YTD basis, the company’s total oil and gas production decreased by 4.44% from the same period in 2020.

The company’s oil production grew 0.07% to 59.72 bd in August 2021 from the previous month, while gas production up by 29.63% to 0.35 mmcf/d. On a YTD basis, oil production increased by 2.04% in 2021 when compared with the same period in 2020, while gas production declined by 10.56%. Out of the total oil and gas production in August 2021, oil production held a 49.37% share, while gas production held a 49.88% share.

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Looking at the states where M G F Oil recorded the highest oil and gas production in August 2021, Texas figured at the top, accounting for a 100% share. The company produced 120.97 boe/d in the state in August 2021, an increase of 13.67% from the previous month.

On a YTD basis, the company produced 909.86 boe/d in Texas in 2021, recording a decrease of 4.44% from the same period in 2020.



M G F Oil witnessed the highest oil and gas production in Pecos county in August 2021. Out of all the counties, Pecos county held a share of 29.97% for the firm. The company produced 36.25 boe/d in Pecos county in August 2021, an increase of 68.21% in production when compared with the previous month.

On a YTD basis, the county produced 260.43 boe/d for the company in 2021, a 5.15% increase from the same period in 2020.



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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