Parallel Petroleum recorded an increase of 6.87% in total oil and gas production to 3,220.1 boe/d in November 2021 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Parallel Petroleum grew 34.28% in November 2021 from 2,398.06 boe/d in November 2020.
On a YTD basis, the company’s total oil and gas production increased by 9.08% from the same period in 2020.
The company’s oil production grew 8.02% to 3,003.01 bd in November 2021 from the previous month, while gas production declined by 6.67% to 1.26 mmcf/d. On a YTD basis, oil production increased by 10.5% in 2021 when compared with the same period in 2020, while gas production declined by 3.31%. Out of the total oil and gas production in November 2021, oil production held a 93.26% share, while gas production held a 6.75% share.
Looking at the states where Parallel Petroleum recorded the highest oil and gas production in November 2021, Texas figured at the top, accounting for a 100% share. The company produced 3,220.1 boe/d in the state in November 2021, an increase of 6.87% from the previous month.
On a YTD basis, the company produced 26,462.38 boe/d in Texas in 2021, recording an increase of 9.08% from the same period in 2020.
Parallel Petroleum witnessed the highest oil and gas production in Gaines county in November 2021. Out of all the counties, Gaines county held a share of 59.53% for the firm. The company produced 1,917.07 boe/d in Gaines county in November 2021, an increase of 13.01% in production when compared with the previous month.
On a YTD basis, the county produced 13,552.5 boe/d for the company in 2021, a 10.71% 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.