Permian Basin Shale witnessed an increase of 1.93% in total oil and gas production to 81,87,918.44 boe/d in February 2022 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production in Permian Basin grew 32.63% in February 2022 from 61,73,481.83 boe/d in February 2021. On a YTD basis, the total oil and gas production in the play increased by 18.65% from the same period in 2021.

In Permian Basin, oil production grew 3.29% in February 2022 as compared with the previous month, while gas production increased by 1.23% to 19,289.16 mmcf/d.

On a YTD basis, oil production in the play increased by 20.12% in 2022 when compared with the same period in 2021, while gas production rose by 20.99%. Out of the total oil and gas production in February 2022, oil held a 54.22% share, while gas had a 40.62% share.


In Permian Basin, Pioneer Natural Resources emerged as the largest oil and gas producer, recording a total oil and gas production at 8,84,680.81 boe/d in February 2022, an increase of 2.18% from the previous month. The company held a 13.04% share in oil production and 9.19% share in gas production in February 2022.

On a YTD basis, the company registered a 50.76% increase in total oil and gas production from the same period in 2021.



Compared with other counties within Permian Basin Shale, Midland county recorded the highest oil and gas production, holding a 14.04% share in February 2022. The county witnessed a 6.26% increase in production to 11,49,479.53 boe/d in February 2022 when compared with the previous month.

On a YTD basis, it registered an increase of 52.33% in total production from the same period in 2021.



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.