Terrace Petroleum recorded an increase of 2.51% in total oil and gas production to 974.82 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of Terrace Petroleum grew 18.1% in August 2021 from 825.39 boe/d in August 2020.
On a YTD basis, the company’s total oil and gas production decreased by 0.33% from the same period in 2020.
The company’s oil production grew 2.33% to 670.72 bd in August 2021 from the previous month, while gas production up by 2.98% to 1.73 mmcf/d. On a YTD basis, oil production increased by 11.56% in 2021 when compared with the same period in 2020, while gas production declined by 17.72%. Out of the total oil and gas production in August 2021, oil production held a 68.8% share, while gas production held a 30.6% share.
Looking at the states where Terrace Petroleum recorded the highest oil and gas production in August 2021, Texas figured at the top, accounting for a 100% share. The company produced 974.82 boe/d in the state in August 2021, an increase of 2.51% from the previous month.
On a YTD basis, the company produced 6,785.96 boe/d in Texas in 2021, recording a decrease of 0.33% from the same period in 2020.
Terrace Petroleum witnessed the highest oil and gas production in Midland county in August 2021. Out of all the counties, Midland county held a share of 46.22% for the firm. The company produced 450.59 boe/d in Midland county in August 2021, an increase of 15.82% in production when compared with the previous month.
On a YTD basis, the county produced 2,904.54 boe/d for the company in 2021, a 17.22% decrease from the same period in 2020.
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.