Magnolia Oil & Gas recorded a decrease of 3.97% in total oil and gas production to 68,371.63 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Magnolia Oil & Gas grew 11.63% in March 2020 from 61,247.74 boe/d in March 2019.
On a YTD basis, the company’s total oil and gas production increased by 0.31% from the same period in 2019.
The company’s oil production declined 5.32% to 39,452.09 bd in March 2020 from the previous month, while gas production declined by 1.39% to 150.8 mmcf/d. On a YTD basis, oil production increased by 7.17% in 2020 when compared with the same period in 2019, while gas production declined by 7.3%. Out of the total oil and gas production in March 2020, oil production held a 57.7% share, while gas production held a 38.03% share.
Looking at the states where Magnolia Oil & Gas recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for a 100% share. The company produced 68,371.63 boe/d in the state in March 2020, a decrease of 3.97% from the previous month.
On a YTD basis, the company produced 1,93,230.69 boe/d in Texas in 2020, recording an increase of 0.31% from the same period in 2019.
Magnolia Oil & Gas witnessed the highest oil and gas production in Karnes county in March 2020. Out of all the counties, Karnes county held a share of 63.97% for the firm. The company produced 43,736.34 boe/d in Karnes county in March 2020, a decrease of 7.77% in production when compared with the previous month.
On a YTD basis, the county produced 1,23,794.14 boe/d for the company in 2020, a 0.03% decrease from the same period in 2019.
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.