True Oil recorded a decrease of 38.88% in total oil and gas production to 1,384.4 boe/d in April 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of True Oil declined 66.96% in April 2020 from 4,190.21 boe/d in April 2019.
On a YTD basis, the company’s total oil and gas production decreased by 50.19% from the same period in 2019.
The company’s oil production declined 32.95% to 1,080.97 bd in April 2020 from the previous month, while gas production declined by 53.56% to 1.76 mmcf/d. On a YTD basis, oil production decreased by 56.51% in 2020 when compared with the same period in 2019, while gas production declined by 16.32%. Out of the total oil and gas production in April 2020, oil production held a 78.08% share, while gas production held a 21.92% share.
Looking at the states where True Oil recorded the highest oil and gas production in April 2020, North Dakota figured at the top. The company produced 836.04 boe/d in the state in April 2020, a decrease of 12.53% from the previous month.
On a YTD basis, the company produced 4,568.49 boe/d in North Dakota in 2020, recording a decrease of 75.96% from the same period in 2019.
True Oil witnessed the highest oil and gas production in Mckenzie county in April 2020. Out of all the counties, Mckenzie county held a share of 60.39% for the firm. The company produced 836.04 boe/d in Mckenzie county in April 2020, a decrease of 12.53% in production when compared with the previous month.
On a YTD basis, the county produced 4,568.49 boe/d for the company in 2020, a 56.38% increase 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.