Colorado witnessed a decrease of 4.94% in total oil and gas production to 17,69,234.23 boe/d in May 2020 when compared with the previous month, according to GlobalData’s USL48 database.
The oil and gas production declined 20.1% in May 2020 from 22,14,263.7 boe/d in May 2019. On a YTD basis, the total oil and gas production in 2020 decreased by 12.71% from the same period in 2019.
In May 2020, oil production declined 4.08% to 5,18,932.79 bd as against the previous month, while gas production declined by 5.3% to 7,251.75 mmcf/d.
On a YTD basis, oil production decreased by 0.93% in 2020 when compared with the same period in 2019, while gas production declined by 16.62%. Out of the total oil and gas production in May 2020, oil held a 29.33% share, while gas had a 70.67% share.
In Colorado, Occidental Petroleum emerged as the largest oil and gas producer, recording a total oil and gas production at 2,69,448.84 boe/d in May 2020, a decrease of 3.69% from the previous month. The company held a 20.42% share in oil production and 13.08% share in gas production in May 2020.
On a YTD basis, the company registered a 19.7% increase in total oil and gas production from the same period in 2019.
Compared with other counties in Colorado, Weld county recorded the highest oil and gas production, holding a 54.09% share in May 2020. The county witnessed a 5.89% decrease in production to 9,56,979.32 boe/d in May 2020 when compared with the previous month.
On a YTD basis, Weld registered an increase of 8.53% in total production from the same period in 2019.
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.