Spindle Top Oil & Gas recorded an increase of 3.2% in total oil and gas production to 369.84 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Spindle Top Oil & Gas declined 35.63% in May 2020 from 574.56 boe/d in May 2019.
On a YTD basis, the company’s total oil and gas production decreased by 20.27% from the same period in 2019.
The company’s oil production declined 7.72% to 27.87 bd in May 2020 from the previous month, while gas production up by 4.76% to 1.98 mmcf/d. On a YTD basis, oil production decreased by 24.36% in 2020 when compared with the same period in 2019, while gas production declined by 19.79%. Out of the total oil and gas production in May 2020, oil production held a 7.54% share, while gas production held a 92.3% share.
Looking at the states where Spindle Top Oil & Gas recorded the highest oil and gas production in May 2020, Texas figured at the top, accounting for a 100% share. The company produced 345.15 boe/d in the state in May 2020, an increase of 2.28% from the previous month.
On a YTD basis, the company produced 2,194.98 boe/d in Texas in 2020, recording a decrease of 25.26% from the same period in 2019.
Spindle Top Oil & Gas witnessed the highest oil and gas production in Parker county in May 2020. Out of all the counties, Parker county held a share of 29.1% for the firm. The company produced 107.63 boe/d in Parker county in May 2020, an increase of 23.32% in production when compared with the previous month.
On a YTD basis, the county produced 847.41 boe/d for the company in 2020, a 26.72% 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.