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November 1, 2021updated 09 Nov 2021 7:56am

New Mexico oil and gas production activity declined by 5.08% in August 2021

By Carmen

New Mexico witnessed a decrease of 5.08% in total oil and gas production to 21,02,847.83 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The total oil and gas production grew 9.4% August 2021 from 19,22,152.1 boe/d in August 2020. On a YTD basis, the total oil and gas production in 2021 increased by 10.48% from the same period in 2020.

In August 2021, oil production declined by 4.66% to 11,01,841.04 bd as against the previous month, while gas production declined by 5.53% to 5,805.84 mmcf/d.

On a YTD basis, oil production increased by 11.12% in 2021 when compared with the same period in 2020, while gas production rose by 9.8%. Out of the total oil and gas production in August 2021, oil held a 52.4% share, while gas had a 47.6% share.

 

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In New Mexico, EOG Resources emerged as the largest oil and gas producer, recording a total oil and gas production at 3,21,151.3 boe/d in August 2021, a decrease of 7.09% from the previous month. The company held an 18.69% share in oil production and 11.51% share in gas production in August 2021.

On a YTD basis, the company registered a 40.92% increase in total oil and gas production from the same period in 2020.

 


 

Compared with other counties in New Mexico, Lea county recorded the highest oil and gas production, holding a 44.46% share in August 2021. The county witnessed a 5.56% decrease in production to 9,34,844.28 boe/d in August 2021 when compared with the previous month.

On a YTD basis, Lea registered an increase of 16.39% in total production 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.

More in-depth reports and analysis on all reported information are available to subscribers through GlobalData’s Oil and Gas database.

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