Abraxas Petroleum recorded a decrease of 73.85% in total oil and gas production to 364.01 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production of Abraxas Petroleum declined 94.53% in May 2020 from 6,659.43 boe/d in May 2019.

On a YTD basis, the company’s total oil and gas production decreased by 50.78% from the same period in 2019.

The company’s oil production declined 85.68% to 127.09 bd in May 2020 from the previous month, while gas production declined by 55.09% to 1.28 mmcf/d. On a YTD basis, oil production decreased by 48.59% in 2020 when compared with the same period in 2019, while gas production declined by 55.12%. Out of the total oil and gas production in May 2020, oil production held a 34.91% share, while gas production held a 60.62% share.


Looking at the states where Abraxas Petroleum recorded the highest oil and gas production in May 2020, Texas figured at the top, accounting for a 100% share. The company produced 347.13 boe/d in the state in May 2020, a decrease of 73.19% from the previous month.

On a YTD basis, the company produced 14,736.6 boe/d in Texas in 2020, recording a decrease of 52.62% from the same period in 2019.



Abraxas Petroleum witnessed the highest oil and gas production in San Patricio county in May 2020. Out of all the counties, San Patricio county held a share of 43.29% for the firm. The company produced 157.57 boe/d in San Patricio county in May 2020, an increase of 0.35% in production when compared with the previous month.

On a YTD basis, the county produced 12,449.66 boe/d for the company in 2020, a 49.74% 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.