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July 18, 2022

Marjac Oil records 0.26% decrease in production in March 2020

By Carmen

Marjac Oil recorded a decrease of 0.26% in total oil and gas production to 259.92 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Marjac Oil declined 10.14% in March 2020 from 289.25 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production decreased by 12.9% from the same period in 2019.

The company’s oil production grew 17.73% to 34.66 bd in March 2020 from the previous month, while gas production declined by 3.88% to 1.24 mmcf/d. On a YTD basis, oil production decreased by 24.39% in 2020 when compared with the same period in 2019, while gas production declined by 11.71%. Out of the total oil and gas production in March 2020, oil production held a 13.33% share, while gas production held an 82.25% share.


Looking at the states where Marjac Oil recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for a 100% share. The company produced 259.92 boe/d in the state in March 2020, a decrease of 0.26% from the previous month.

On a YTD basis, the company produced 792.71 boe/d in Texas in 2020, recording a decrease of 12.9% from the same period in 2019.



Marjac Oil witnessed the highest oil and gas production in Stephens county in March 2020. Out of all the counties, Stephens county held a share of 84.41% for the firm. The company produced 219.39 boe/d in Stephens county in March 2020, an increase of 0.53% in production when compared with the previous month.

On a YTD basis, the county produced 665.59 boe/d for the company in 2020, a 15.19% 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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