New Mexico witnessed an increase of 3.48% in total oil and gas production to 24,46,179.11 boe/d in February 2022 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production grew 29.67% in February 2022 from 18,86,398.24 boe/d in February 2021. On a YTD basis, the total oil and gas production in 2022 increased by 21.07% from the same period in 2021.
In February 2022, oil production grew 3.77% to 13,12,372.47 bd as against the previous month, while gas production up by 3.15% to 6,576.08 mmcf/d.
On a YTD basis, oil production increased by 25.71% in 2022 when compared with the same period in 2021, while gas production rose by 16.12%. Out of the total oil and gas production in February 2022, oil held a 53.65% share, while gas had a 46.35% share.
In New Mexico, EOG Resources emerged as the largest oil and gas producer, recording a total oil and gas production at 4,03,675.2 boe/d in February 2022, an increase of 4.47% from the previous month. The company held a 20.07% share in oil production and 12.38% share in gas production in February 2022.
On a YTD basis, the company registered a 32.95% increase in total oil and gas production from the same period in 2021.
Compared with other counties in New Mexico, Lea county recorded the highest oil and gas production, holding a 46.87% share in February 2022. The county witnessed a 3.1% increase in production to 11,46,577.54 boe/d in February 2022 when compared with the previous month.
On a YTD basis, Lea registered an increase of 20.02% in total production from the same period in 2021.
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.