Pitts Energy recorded a decrease of 19.35% in total oil and gas production to 1,023.57 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Pitts Energy declined 25.38% in May 2020 from 1,371.71 boe/d in May 2019.
On a YTD basis, the company’s total oil and gas production decreased by 12.9% from the same period in 2019.
The company’s oil production declined 30.64% to 480.42 bd in May 2020 from the previous month, while gas production declined by 6.4% to 3.07 mmcf/d. On a YTD basis, oil production decreased by 18.89% in 2020 when compared with the same period in 2019, while gas production declined by 5.54%. Out of the total oil and gas production in May 2020, oil production held a 46.94% share, while gas production held a 51.71% share.
Looking at the states where Pitts Energy recorded the highest oil and gas production in May 2020, Texas figured at the top, accounting for a 100% share. The company produced 1,002.7 boe/d in the state in May 2020, a decrease of 16.82% from the previous month.
On a YTD basis, the company produced 6,242.56 boe/d in Texas in 2020, recording a decrease of 15.59% from the same period in 2019.
Pitts Energy witnessed the highest oil and gas production in Ward county in May 2020. Out of all the counties, Ward county held a share of 45.31% for the firm. The company produced 463.74 boe/d in Ward county in May 2020, a decrease of 16.74% in production when compared with the previous month.
On a YTD basis, the county produced 2,980.45 boe/d for the company in 2020, an 8.53% decrease from the same period in 2019.
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.