Permian Basin Shale production up by 2.53% in July 2020

Permian Basin Shale witnessed an increase of 2.53% in total oil and gas production to 73,17,739.51 boe/d in July 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production in Permian Basin grew 5.12% in July 2020 from 69,61,420.95 boe/d in July 2019. On a YTD basis, the total oil and gas production in the play increased by 12.22% from the same period in 2019.

In Permian Basin, oil production grew 1.38% in July 2020 as compared with the previous month, while gas production increased by 4.13% to 17,007.97 mmcf/d.

On a YTD basis, oil production in the play increased by 8.75% in 2020 when compared with the same period in 2019, while gas production rose by 16.93%. Out of the total oil and gas production in July 2020, oil held a 53.03% share, while gas had a 40.07% share.

In Permian Basin, Occidental Petroleum emerged as the largest oil and gas producer, recording a total oil and gas production at 7,21,695.56 boe/d in July 2020, a decrease of 3.17% from the previous month. The company held a 9.55% share in oil production and 8.59% share in gas production in July 2020.

On a YTD basis, the company registered an 11.14% increase in total oil and gas production from the same period in 2019.

Compared with other counties within Permian Basin Shale, Reeves county recorded the highest oil and gas production, holding a 14.43% share in July 2020. The county witnessed a 3.48% increase in production to 10,55,812.8 boe/d in July 2020 when compared with the previous month.

On a YTD basis, it registered an increase of 8.41% in total production 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.