Medicine Bow Operating records 2.5% decrease in production in August 2021

Medicine Bow Operating recorded a decrease of 2.5% in total oil and gas production to 109.8 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Medicine Bow Operating grew 13.97% in August 2021 from 96.34 boe/d in August 2020.

On a YTD basis, the company’s total oil and gas production increased by 50.99% from the same period in 2020.

The company’s oil production grew 114.77% to 11.92 bd in August 2021 from the previous month, while gas production declined by 10.34% to 0.52 mmcf/d. On a YTD basis, oil production decreased by 3.61% in 2021 when compared with the same period in 2020, while gas production rose by 55.87%. Out of the total oil and gas production in August 2021, oil production held a 10.86% share, while gas production held an 81.65% share.

Looking at the states where Medicine Bow Operating recorded the highest oil and gas production in August 2021, Texas figured at the top, accounting for a 100% share. The company produced 97.88 boe/d in the state in August 2021, a decrease of 5.14% from the previous month.

On a YTD basis, the company produced 780.7 boe/d in Texas in 2021, recording an increase of 35.18% from the same period in 2020.

Medicine Bow Operating witnessed the highest oil and gas production in Upshur county in August 2021. Out of all the counties, Upshur county held a share of 89.14% for the firm. The company produced 97.88 boe/d in Upshur county in August 2021, a decrease of 5.14% in production when compared with the previous month.

On a YTD basis, the county produced 780.7 boe/d for the company in 2021, a 58.26% increase 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.