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  1. Market Data
April 14, 2022

Virginia oil and gas production activity declined by 0.71% in December 2021

By Carmen

Virginia witnessed a decrease of 0.71% in total oil and gas production to 44,449.02 boe/d in December 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production declined 6.96% in December 2021 from 47,774.23 boe/d in December 2020. On a YTD basis, the total oil and gas production in 2021 decreased by 5.35% from the same period in 2020.

In December 2021, oil production declined 3.24% to 60.67 bd as against the previous month, while gas production declined by 0.71% to 257.45 mmcf/d.

On a YTD basis, oil production increased by 3.89% in 2021 when compared with the same period in 2020, while gas production declined by 5.36%. Out of the total oil and gas production in December 2021, oil held a 0.14% share, while gas had a 99.86% share.


In Virginia, Cnx Resources emerged as the largest oil and gas producer, recording a total oil and gas production at 24,387.46 boe/d in December 2021, a decrease of 0.53% from the previous month. The company held a 54.94% share in gas production in December 2021.

On a YTD basis, the company registered a 4.82% decrease in total oil and gas production from the same period in 2020.



Compared with other counties in Virginia, Buchanan county recorded the highest oil and gas production, holding a 51.35% share in December 2021. The county witnessed a 0.61% decrease in production to 22,826.78 boe/d in December 2021 when compared with the previous month.

On a YTD basis, Buchanan registered a decline of 2.67% in total production from the same period in 2020.



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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