Urban Oil & Gas Group records 0.56% increase in production in February 2022

Urban Oil & Gas Group recorded an increase of 0.56% in total oil and gas production to 19,334.62 boe/d in February 2022 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Urban Oil & Gas Group grew 3.46% in February 2022 from 18,688.19 boe/d in February 2021.

On a YTD basis, the company’s total oil and gas production decreased by 1.19% from the same period in 2021.

The company’s oil production grew 1.82% to 3,222.71 bd in February 2022 from the previous month, while gas production up by 0.3% to 93.11 mmcf/d. On a YTD basis, oil production decreased by 13.39% in 2022 when compared with the same period in 2021, while gas production rose by 1.7%. Out of the total oil and gas production in February 2022, oil production held a 16.67% share, while gas production held an 83.03% share.

Looking at the states where Urban Oil & Gas Group recorded the highest oil and gas production in February 2022, Alabama figured at the top, accounting for a 32.69% share. The company produced 5,595.38 boe/d in the state in February 2022, a decrease of 1.05% from the previous month.

On a YTD basis, the company produced 11,249.89 boe/d in Alabama in 2022, recording a decrease of 71.17% from the same period in 2021.

Urban Oil & Gas Group witnessed the highest oil and gas production in Tuscaloosa county in February 2022. Out of all the counties, Tuscaloosa county held a share of 22.13% for the firm. The company produced 4,278.56 boe/d in Tuscaloosa county in February 2022, a decrease of 1.29% in production when compared with the previous month.

On a YTD basis, the county produced 8,612.92 boe/d for the company in 2022, a 4.61% decrease 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.