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  1. Market Data
July 18, 2022

Oilwell Operators records 1.09% decrease in production in March 2020

By Carmen

Oilwell Operators recorded a decrease of 1.09% in total oil and gas production to 390.9 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Oilwell Operators declined 15.34% in March 2020 from 461.72 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production decreased by 14.33% from the same period in 2019.

The company’s oil production declined 17.15% to 82.54 bd in March 2020 from the previous month, while gas production up by 4.68% to 1.79 mmcf/d. On a YTD basis, oil production decreased by 2.86% in 2020 when compared with the same period in 2019, while gas production declined by 17.02%. Out of the total oil and gas production in March 2020, oil production held a 21.12% share, while gas production held a 78.95% share.


Looking at the states where Oilwell Operators recorded the highest oil and gas production in March 2020, Texas figured at the top, accounting for a 100% share. The company produced 390.9 boe/d in the state in March 2020, a decrease of 1.09% from the previous month.

On a YTD basis, the company produced 1,195.44 boe/d in Texas in 2020, recording a decrease of 14.33% from the same period in 2019.



Oilwell Operators witnessed the highest oil and gas production in Gray county in March 2020. Out of all the counties, Gray county held a share of 80.86% for the firm. The company produced 316.1 boe/d in Gray county in March 2020, a decrease of 2.29% in production when compared with the previous month.

On a YTD basis, the county produced 962.8 boe/d for the company in 2020, a 13.99% decrease 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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