New Mexico witnessed a decrease of 0.54% in total oil and gas production to 21,13,386.67 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production grew 23.71% in March 2020 from 17,08,396.05 boe/d in March 2019. On a YTD basis, the total oil and gas production in 2020 increased by 24.85% from the same period in 2019.
In March 2020, oil production grew 0.33% to 11,23,736.76 bd as against the previous month, while gas production declined by 1.51% to 5,739.97 mmcf/d.
On a YTD basis, oil production increased by 32.07% in 2020 when compared with the same period in 2019, while gas production rose by 17.66%. Out of the total oil and gas production in March 2020, oil held a 53.17% share, while gas had a 46.83% share.
In New Mexico, Occidental Petroleum emerged as the largest oil and gas producer, recording a total oil and gas production at 2,54,300.5 boe/d in March 2020, an increase of 3.38% from the previous month. The company held a 13.04% share in oil production and 10.89% share in gas production in March 2020.
On a YTD basis, the company registered a 20.77% increase in total oil and gas production from the same period in 2019.
Compared with other counties in New Mexico, Lea county recorded the highest oil and gas production, holding a 44.96% share in March 2020. The county witnessed a 3.1% decrease in production to 9,50,234.61 boe/d in March 2020 when compared with the previous month.
On a YTD basis, Lea registered an increase of 35.79% in total production from the same period in 2019.
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.