Parallel Petroleum recorded a decrease of 4.07% in total oil and gas production to 2,534.85 boe/d in April 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Parallel Petroleum declined 8.87% in April 2020 from 2,781.5 boe/d in April 2019.
On a YTD basis, the company’s total oil and gas production decreased by 5.7% from the same period in 2019.
The company’s oil production declined 4.44% to 2,276.01 bd in April 2020 from the previous month, while gas production declined by 0.66% to 1.5 mmcf/d. On a YTD basis, oil production decreased by 7.33% in 2020 when compared with the same period in 2019, while gas production rose by 13.61%. Out of the total oil and gas production in April 2020, oil production held an 89.79% share, while gas production held a 10.2% share.
Looking at the states where Parallel Petroleum recorded the highest oil and gas production in April 2020, Texas figured at the top, accounting for a 100% share. The company produced 2,528.93 boe/d in the state in April 2020, a decrease of 4.13% from the previous month.
On a YTD basis, the company produced 10,153.6 boe/d in Texas in 2020, recording a decrease of 5.9% from the same period in 2019.
Parallel Petroleum witnessed the highest oil and gas production in Gaines county in April 2020. Out of all the counties, Gaines county held a share of 48.19% for the firm. The company produced 1,221.55 boe/d in Gaines county in April 2020, a decrease of 8.14% in production when compared with the previous month.
On a YTD basis, the county produced 5,189.71 boe/d for the company in 2020, a 12.78% decrease 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.