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July 19, 2022

Sierra Resources records 5.23% decrease in production in March 2020

By Carmen

Sierra Resources recorded a decrease of 5.23% in total oil and gas production to 923.76 boe/d in March 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Sierra Resources declined 11.03% in March 2020 from 1,038.32 boe/d in March 2019.

On a YTD basis, the company’s total oil and gas production decreased by 13.75% from the same period in 2019.

The company’s oil production declined 3.51% to 454.23 bd in March 2020 from the previous month, while gas production declined by 4.78% to 2.39 mmcf/d. On a YTD basis, oil production decreased by 12.48% in 2020 when compared with the same period in 2019, while gas production declined by 14.22%. Out of the total oil and gas production in March 2020, oil production held a 49.17% share, while gas production held a 44.61% share.


Looking at the states where Sierra Resources recorded the highest oil and gas production in March 2020, California figured at the top, accounting for a 61.12% share. The company produced 573.32 boe/d in the state in March 2020, a decrease of 3.25% from the previous month.

On a YTD basis, the company produced 1,594.1 boe/d in California in 2020, recording a decrease of 48.87% from the same period in 2019.



Sierra Resources witnessed the highest oil and gas production in Santa Barbara county in March 2020. Out of all the counties, Santa Barbara county held a share of 62.06% for the firm. The company produced 573.32 boe/d in Santa Barbara county in March 2020, a decrease of 3.25% in production when compared with the previous month.

On a YTD basis, the county produced 1,594.1 boe/d for the company in 2020, a 10.19% 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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