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July 18, 2022

McDaniel records 21.04% decrease in production in March 2020

By Carmen

McDaniel recorded a decrease of 21.04% in total oil and gas production to 246.89 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of McDaniel declined 28.49% in March 2020 from 345.23 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production decreased by 22.51% from the same period in 2019.

The company’s oil production declined 21.54% to 177.54 bd in March 2020 from the previous month, while gas production declined by 20% to 0.4 mmcf/d. On a YTD basis, oil production decreased by 17.65% in 2020 when compared with the same period in 2019, while gas production declined by 32.68%. Out of the total oil and gas production in March 2020, oil production held a 71.91% share, while gas production held a 27.93% share.


Looking at the states where McDaniel recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for a 100% share. The company produced 246.82 boe/d in the state in March 2020, a decrease of 21.04% from the previous month.

On a YTD basis, the company produced 847.81 boe/d in Texas in 2020, recording a decrease of 22.53% from the same period in 2019.



McDaniel witnessed the highest oil and gas production in Winkler county in March 2020. Out of all the counties, Winkler county held a share of 60.87% for the firm. The company produced 150.29 boe/d in Winkler county in March 2020, a decrease of 21.31% in production when compared with the previous month.

On a YTD basis, the county produced 508.09 boe/d for the company in 2020, a 6.7% 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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