Parallel Petroleum recorded a decrease of 79.13% in total oil and gas production to 529.04 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Parallel Petroleum declined 80.47% in May 2020 from 2,709.02 boe/d in May 2019.
On a YTD basis, the company’s total oil and gas production decreased by 20.71% from the same period in 2019.
The company’s oil production declined 80.07% to 453.72 bd in May 2020 from the previous month, while gas production declined by 70.67% to 0.44 mmcf/d. On a YTD basis, oil production decreased by 21.94% in 2020 when compared with the same period in 2019, while gas production declined by 6.89%. Out of the total oil and gas production in May 2020, oil production held an 85.76% share, while gas production held a 14.34% share.
Looking at the states where Parallel Petroleum recorded the highest oil and gas production in May 2020, Texas figured at the top, accounting for a 100% share. The company produced 522.71 boe/d in the state in May 2020, a decrease of 79.33% from the previous month.
On a YTD basis, the company produced 10,676.31 boe/d in Texas in 2020, recording a decrease of 20.91% from the same period in 2019.
Parallel Petroleum witnessed the highest oil and gas production in Scurry county in May 2020. Out of all the counties, Scurry county held a share of 69.8% for the firm. The company produced 369.27 boe/d in Scurry county in May 2020, a decrease of 61.25% in production when compared with the previous month.
On a YTD basis, the county produced 5,289 boe/d for the company in 2020, a 28.34% 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.