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September 15, 2022

Montana oil and gas production activity declined by 18.89% in May 2020

By Carmen

Montana witnessed a decrease of 18.89% in total oil and gas production to 81,873.51 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production declined 31.18% in May 2020 from 1,18,965.96 boe/d in May 2019. On a YTD basis, the total oil and gas production in 2020 decreased by 5.52% from the same period in 2019.

In May 2020, oil production declined 24.78% to 39,431 bd as against the previous month, while gas production declined by 12.52% to 246.17 mmcf/d.

On a YTD basis, oil production decreased by 12.32% in 2020 when compared with the same period in 2019, while gas production rose by 3.46%. Out of the total oil and gas production in May 2020, oil held a 48.16% share, while gas had a 51.84% share.


In Montana, Denbury emerged as the largest oil and gas producer, recording a total oil and gas production at 40,596.32 boe/d in May 2020, a decrease of 9.83% from the previous month. The company held a 37.23% share in oil production and 61.06% share in gas production in May 2020.

On a YTD basis, the company registered a 5.64% increase in total oil and gas production from the same period in 2019.



Compared with other counties in Montana, Powder River county recorded the highest oil and gas production, holding a 39.22% share in May 2020. The county witnessed an 8.57% decrease in production to 32,112.17 boe/d in May 2020 when compared with the previous month.

On a YTD basis, Powder River registered an increase of 13.02% in total production 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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