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September 16, 2022

Peles records 29.37% decrease in production in May 2020

By Carmen

Peles recorded a decrease of 29.37% in total oil and gas production to 281.04 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Peles declined 12.25% in May 2020 from 320.29 boe/d in May 2019.

On a YTD basis, the company’s total oil and gas production decreased by 7.35% from the same period in 2019.

The company’s oil production declined 25.15% to 243.72 bd in May 2020 from the previous month, while gas production declined by 47.62% to 0.22 mmcf/d. On a YTD basis, oil production decreased by 6.7% in 2020 when compared with the same period in 2019, while gas production declined by 10.44%. Out of the total oil and gas production in May 2020, oil production held an 86.72% share, while gas production held a 13.5% share.


Looking at the states where Peles recorded the highest oil and gas production in May 2020, Texas figured at the top, accounting for a 100% share. The company produced 281.04 boe/d in the state in May 2020, a decrease of 29.37% from the previous month.

On a YTD basis, the company produced 2,193.57 boe/d in Texas in 2020, recording a decrease of 7.35% from the same period in 2019.



Peles witnessed the highest oil and gas production in Cherokee county in May 2020. Out of all the counties, Cherokee county held a share of 62.47% for the firm. The company produced 175.56 boe/d in Cherokee county in May 2020, a decrease of 16.54% in production when compared with the previous month.

On a YTD basis, the county produced 1,187 boe/d for the company in 2020, a 6.63% decrease from the same period in 2019.



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.

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