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July 1, 2022

Team Operating records 10.76% increase in production in February 2022

By Carmen

Team Operating recorded an increase of 10.76% in total oil and gas production to 2,086.35 boe/d in February 2022 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Team Operating grew 15.08% in February 2022 from 1,812.96 boe/d in February 2021.

On a YTD basis, the company’s total oil and gas production increased by 11.29% from the same period in 2021.

The company’s oil production grew 10.64% to 2,054.06 bd in February 2022 from the previous month, while gas production up by 18.75% to 0.19 mmcf/d. On a YTD basis, oil production increased by 12.4% in 2022 when compared with the same period in 2021, while gas production declined by 33.33%. Out of the total oil and gas production in February 2022, oil production held a 98.45% share, while gas production held a 1.57% share.


Looking at the states where Team Operating recorded the highest oil and gas production in February 2022, California figured at the top, accounting for an 85.96% share. The company produced 1,121.95 boe/d in the state in February 2022, an increase of 18.83% from the previous month.

On a YTD basis, the company produced 2,066.11 boe/d in California in 2022, recording a decrease of 42.08% from the same period in 2021.



Team Operating witnessed the highest oil and gas production in Santa Barbara county in February 2022. Out of all the counties, Santa Barbara county held a share of 50.66% for the firm. The company produced 1,056.91 boe/d in Santa Barbara county in February 2022, an increase of 18.83% in production when compared with the previous month.

On a YTD basis, the county produced 1,946.34 boe/d for the company in 2022, a 48.89% increase from the same period in 2021.



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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