V F Petroleum records 4.9% decrease in production in February 2022

V F Petroleum recorded a decrease of 4.9% in total oil and gas production to 513.17 boe/d in February 2022 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of V F Petroleum grew 0.94% in February 2022 from 508.39 boe/d in February 2021.

On a YTD basis, the company’s total oil and gas production decreased by 6.59% from the same period in 2021.

The company’s oil production declined 6.81% to 341.93 bd in February 2022 from the previous month, while gas production declined by 1% to 0.99 mmcf/d. On a YTD basis, oil production decreased by 6.71% in 2022 when compared with the same period in 2021, while gas production declined by 6.57%. Out of the total oil and gas production in February 2022, oil production held a 66.63% share, while gas production held a 33.26% share.

Looking at the states where V F Petroleum recorded the highest oil and gas production in February 2022, New Mexico figured at the top, accounting for a 63.39% share. The company produced 314.07 boe/d in the state in February 2022, a decrease of 1.83% from the previous month.

On a YTD basis, the company produced 633.98 boe/d in New Mexico in 2022, recording a decrease of 43.75% from the same period in 2021.

V F Petroleum witnessed the highest oil and gas production in Lea county in February 2022. Out of all the counties, Lea county held a share of 46.7% for the firm. The company produced 239.65 boe/d in Lea county in February 2022, a decrease of 5.03% in production when compared with the previous month.

On a YTD basis, the county produced 491.98 boe/d for the company in 2022, a 2.37% 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.