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August 19, 2022

Olsen Energy records 63.59% decrease in production in April 2020

By Carmen

Olsen Energy recorded a decrease of 63.59% in total oil and gas production to 299.14 boe/d in April 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Olsen Energy declined 68.15% in April 2020 from 939.09 boe/d in April 2019.

On a YTD basis, the company’s total oil and gas production decreased by 23.57% from the same period in 2019.

The company’s oil production declined 77.05% to 80.65 bd in April 2020 from the previous month, while gas production declined by 52.45% to 1.26 mmcf/d. On a YTD basis, oil production decreased by 20.08% in 2020 when compared with the same period in 2019, while gas production declined by 26.17%. Out of the total oil and gas production in April 2020, oil production held a 26.96% share, while gas production held a 72.62% share.


Looking at the states where Olsen Energy recorded the highest oil and gas production in April 2020, Texas figured at the top, accounting for a 100% share. The company produced 299.14 boe/d in the state in April 2020, a decrease of 63.59% from the previous month.

On a YTD basis, the company produced 2,850.32 boe/d in Texas in 2020, recording a decrease of 23.57% from the same period in 2019.



Olsen Energy witnessed the highest oil and gas production in Pecos county in April 2020. Out of all the counties, Pecos county held a share of 88.46% for the firm. The company produced 264.63 boe/d in Pecos county in April 2020, a decrease of 64.28% in production when compared with the previous month.

On a YTD basis, the county produced 2,559.87 boe/d for the company in 2020, a 21.06% 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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