M L C R records 5.83% increase in production in August 2021

M L C R recorded an increase of 5.83% in total oil and gas production to 58.09 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of M L C R declined 53.21% in August 2021 from 124.15 boe/d in August 2020.

On a YTD basis, the company’s total oil and gas production decreased by 21.17% from the same period in 2020.

The company’s oil production grew 37.48% to 37.27 bd in August 2021 from the previous month, while gas production declined by 25% to 0.12 mmcf/d. On a YTD basis, oil production decreased by 20.68% in 2021 when compared with the same period in 2020, while gas production declined by 21.64%. Out of the total oil and gas production in August 2021, oil production held a 64.16% share, while gas production held a 35.62% share.

Looking at the states where M L C R recorded the highest oil and gas production in August 2021, Texas figured at the top, accounting for a 100% share. The company produced 58.09 boe/d in the state in August 2021, an increase of 5.83% from the previous month.

On a YTD basis, the company produced 888.74 boe/d in Texas in 2021, recording a decrease of 21.17% from the same period in 2020.

M L C R witnessed the highest oil and gas production in Midland county in August 2021. Out of all the counties, Midland county held a share of 100% for the firm. The company produced 58.09 boe/d in Midland county in August 2021, an increase of 5.83% in production when compared with the previous month.

On a YTD basis, the county produced 888.74 boe/d for the company in 2021, a 21.17% decrease 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.