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September 16, 2022

Valence Operating records 12.55% decrease in production in May 2020

By Carmen

Valence Operating recorded a decrease of 12.55% in total oil and gas production to 13,587.46 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Valence Operating declined 12.97% in May 2020 from 15,613.23 boe/d in May 2019.

On a YTD basis, the company’s total oil and gas production decreased by 6.56% from the same period in 2019.

The company’s oil production declined 48.07% to 1,332.28 bd in May 2020 from the previous month, while gas production declined by 4.57% to 68.06 mmcf/d. On a YTD basis, oil production increased by 69.62% in 2020 when compared with the same period in 2019, while gas production declined by 14.05%. Out of the total oil and gas production in May 2020, oil production held a 9.81% share, while gas production held an 86.36% share.


Looking at the states where Valence Operating recorded the highest oil and gas production in May 2020, Texas figured at the top, accounting for a 100% share. The company produced 13,587.46 boe/d in the state in May 2020, a decrease of 12.55% from the previous month.

On a YTD basis, the company produced 77,381.16 boe/d in Texas in 2020, recording a decrease of 6.56% from the same period in 2019.



Valence Operating witnessed the highest oil and gas production in Harrison county in May 2020. Out of all the counties, Harrison county held a share of 23.09% for the firm. The company produced 3,136.96 boe/d in Harrison county in May 2020, a decrease of 1.75% in production when compared with the previous month.

On a YTD basis, the county produced 16,169.6 boe/d for the company in 2020, a 24.32% decrease from the same period in 2019.



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.

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