Magnolia Oil & Gas recorded a decrease of 6.06% in total oil and gas production to 70,290.28 boe/d in December 2021 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Magnolia Oil & Gas declined 14.55% in December 2021 from 82,260.13 boe/d in December 2020.
On a YTD basis, the company’s total oil and gas production decreased by 6.45% from the same period in 2020.
The company’s oil production declined 6.13% to 31,377.24 bd in December 2021 from the previous month, while gas production declined by 5.8% to 195.56 mmcf/d. On a YTD basis, oil production decreased by 25.97% in 2021 when compared with the same period in 2020, while gas production rose by 7.88%. Out of the total oil and gas production in December 2021, oil production held a 44.64% share, while gas production held a 47.97% share.
Looking at the states where Magnolia Oil & Gas recorded the highest oil and gas production in December 2021, Texas figured at the top, accounting for a 100% share. The company produced 70,290.28 boe/d in the state in December 2021, a decrease of 6.06% from the previous month.
On a YTD basis, the company produced 9,66,152.36 boe/d in Texas in 2021, recording a decrease of 6.45% from the same period in 2020.
Magnolia Oil & Gas witnessed the highest oil and gas production in Karnes county in December 2021. Out of all the counties, Karnes county held a share of 49.19% for the firm. The company produced 34,577.42 boe/d in Karnes county in December 2021, a decrease of 4.77% in production when compared with the previous month.
On a YTD basis, the county produced 4,64,561.51 boe/d for the company in 2021, a 33.8% decrease from the same period in 2020.
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.