Permian Basin Shale witnessed a decrease of 8.76% in total oil and gas production to 70,51,586.68 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production in Permian Basin declined by 2.64% in August 2021 from 72,42,649.55 boe/d in August 2020. On a YTD basis, the total oil and gas production in the play increased by 1.5% from the same period in 2020.
In Permian Basin, oil production declined by 10.01% in August 2021 as compared with the previous month, while gas production decreased by 8.41% to 16,771.52 mmcf/d.
On a YTD basis, oil production in the play increased by 0.79% in 2021 when compared with the same period in 2020, while gas production rose by 5.01%. Out of the total oil and gas production in August 2021, oil held a 52.84% share, while gas had a 41.01% share.
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In Permian Basin, Pioneer Natural Resources emerged as the largest oil and gas producer, recording a total oil and gas production at 6,33,451.31 boe/d in August 2021, a decrease of 11.07% from the previous month. The company held an 11.5% share in oil production and 7.09% share in gas production in August 2021.
On a YTD basis, the company registered a 1.54% increase in total oil and gas production from the same period in 2020.
Compared with other counties within Permian Basin Shale, Reeves county recorded the highest oil and gas production, holding a 12.91% share in August 2021. The county witnessed a 4.04% decrease in production to 9,10,285.56 boe/d in August 2021 when compared with the previous month.
On a YTD basis, it registered a decline of 11.96% in total production 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.
More in-depth reports and analysis on all reported information are available to subscribers through GlobalData’s Oil and Gas database.