True Oil recorded a decrease of 16.03% in total oil and gas production to 2,963.03 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production of True Oil declined 58.76% in May 2020 from 7,184.41 boe/d in May 2019.
On a YTD basis, the company’s total oil and gas production decreased by 34.06% from the same period in 2019.
The company’s oil production declined 21.94% to 2,170.37 bd in May 2020 from the previous month, while gas production up by 5.99% to 4.6 mmcf/d. On a YTD basis, oil production decreased by 37.27% in 2020 when compared with the same period in 2019, while gas production declined by 19.49%. Out of the total oil and gas production in May 2020, oil production held a 73.25% share, while gas production held a 26.77% share.
Looking at the states where True Oil recorded the highest oil and gas production in May 2020, Wyoming figured at the top, accounting for a 100% share. The company produced 1,847.65 boe/d in the state in May 2020, a decrease of 7.99% from the previous month.
On a YTD basis, the company produced 12,175.88 boe/d in Wyoming in 2020, recording a decrease of 65.59% from the same period in 2019.
True Oil witnessed the highest oil and gas production in Campbell county in May 2020. Out of all the counties, Campbell county held a share of 44.74% for the firm. The company produced 1,325.6 boe/d in Campbell county in May 2020, a decrease of 8.96% in production when compared with the previous month.
On a YTD basis, the county produced 9,791.05 boe/d for the company in 2020, an 8.26% 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.