Parker & Parsley Acquisition Group records 4.47% increase in production in August 2021

Parker & Parsley Acquisition Group recorded an increase of 4.47% in total oil and gas production to 796.47 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Parker & Parsley Acquisition Group grew 29.24% in August 2021 from 616.26 boe/d in August 2020.

On a YTD basis, the company’s total oil and gas production decreased by 21.26% from the same period in 2020.

The company’s oil production grew 3.81% to 591.53 bd in August 2021 from the previous month, while gas production up by 6.25% to 1.19 mmcf/d. On a YTD basis, oil production decreased by 23.63% in 2021 when compared with the same period in 2020, while gas production declined by 10.99%. Out of the total oil and gas production in August 2021, oil production held a 74.27% share, while gas production held a 25.76% share.

Looking at the states where Parker & Parsley Acquisition Group recorded the highest oil and gas production in August 2021, Texas figured at the top, accounting for a 100% share. The company produced 796.47 boe/d in the state in August 2021, an increase of 4.47% from the previous month.

On a YTD basis, the company produced 5,676.67 boe/d in Texas in 2021, recording a decrease of 21.26% from the same period in 2020.

Parker & Parsley Acquisition Group witnessed the highest oil and gas production in Martin county in August 2021. Out of all the counties, Martin county held a share of 37.04% for the firm. The company produced 295.01 boe/d in Martin county in August 2021, an increase of 6.41% in production when compared with the previous month.

On a YTD basis, the county produced 2,190.94 boe/d for the company in 2021, a 43.98% 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.