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December 7, 2021

Padco records 2.16% decrease in production in August 2021

By Carmen

Padco recorded a decrease of 2.16% in total oil and gas production to 55.65 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Padco grew 8.86% in August 2021 from 51.12 boe/d in August 2020.

On a YTD basis, the company’s total oil and gas production decreased by 2.08% from the same period in 2020.

The company’s oil production declined 2.1% to 52.77 bd in August 2021 from the previous month, while gas production stood at 0.02 mmcf/d. On a YTD basis, oil production decreased by 1.83% in 2021 when compared with the same period in 2020, while gas production declined by 8.33%. Out of the total oil and gas production in August 2021, oil production held a 94.82% share, while gas production held a 6.2% share.

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Looking at the states where Padco recorded the highest oil and gas production in August 2021, Colorado figured at the top, accounting for a 100% share. The company produced 55.65 boe/d in the state in August 2021, a decrease of 2.16% from the previous month.

On a YTD basis, the company produced 416.2 boe/d in Colorado in 2021, recording a decrease of 2.08% from the same period in 2020.



Padco witnessed the highest oil and gas production in WASHINGTON county in August 2021. Out of all the counties, WASHINGTON county held a share of 100% for the firm. The company produced 55.65 boe/d in WASHINGTON county in August 2021, a decrease of 2.16% in production when compared with the previous month.

On a YTD basis, the county produced 416.2 boe/d for the company in 2021, a 2.08% decrease 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.

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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