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August 19, 2022

Summit Petroleum records 19.76% decrease in production in April 2020

By Carmen

Summit Petroleum recorded a decrease of 19.76% in total oil and gas production to 16,719.76 boe/d in April 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Summit Petroleum declined 6.09% in April 2020 from 17,803.67 boe/d in April 2019.

On a YTD basis, the company’s total oil and gas production increased by 15.41% from the same period in 2019.

The company’s oil production declined 25.12% to 9,957 bd in April 2020 from the previous month, while gas production declined by 10.28% to 39.18 mmcf/d. On a YTD basis, oil production increased by 17.45% in 2020 when compared with the same period in 2019, while gas production rose by 12.13%. Out of the total oil and gas production in April 2020, oil production held a 59.55% share, while gas production held a 40.4% share.


Looking at the states where Summit Petroleum recorded the highest oil and gas production in April 2020, Texas figured at the top, accounting for a 100% share. The company produced 15,756.6 boe/d in the state in April 2020, a decrease of 20.63% from the previous month.

On a YTD basis, the company produced 73,531.61 boe/d in Texas in 2020, recording an increase of 9.56% from the same period in 2019.



Summit Petroleum witnessed the highest oil and gas production in Upton county in April 2020. Out of all the counties, Upton county held a share of 51.94% for the firm. The company produced 8,684.35 boe/d in Upton county in April 2020, a decrease of 11.52% in production when compared with the previous month.

On a YTD basis, the county produced 38,735.73 boe/d for the company in 2020, a 7.05% 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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