Parallel Petroleum recorded a decrease of 5.63% in total oil and gas production to 3,993.54 boe/d in December 2021 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Parallel Petroleum grew 11.3% in December 2021 from 3,588.22 boe/d in December 2020.
On a YTD basis, the company’s total oil and gas production decreased by 2.83% from the same period in 2020.
The company’s oil production declined 6.49% to 3,648.66 bd in December 2021 from the previous month, while gas production up by 4.71% to 2 mmcf/d. On a YTD basis, oil production decreased by 1.04% in 2021 when compared with the same period in 2020, while gas production declined by 16.81%. Out of the total oil and gas production in December 2021, oil production held a 91.36% share, while gas production held an 8.63% share.
Looking at the states where Parallel Petroleum recorded the highest oil and gas production in December 2021, Texas figured at the top, accounting for a 100% share. The company produced 3,993.54 boe/d in the state in December 2021, a decrease of 5.63% from the previous month.
On a YTD basis, the company produced 42,461.4 boe/d in Texas in 2021, recording a decrease of 2.83% from the same period in 2020.
Parallel Petroleum witnessed the highest oil and gas production in Gaines county in December 2021. Out of all the counties, Gaines county held a share of 55.19% for the firm. The company produced 2,203.89 boe/d in Gaines county in December 2021, a decrease of 4.95% in production when compared with the previous month.
On a YTD basis, the county produced 20,376.13 boe/d for the company in 2021, a 6.3% increase from the same period in 2020.
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.