Diversified production services record a 3.92% drop in production in March 2020

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Diversified Production Services recorded a 3.92% decline in total oil and gas production to 2,478.3 boe/d in March 2020 from the prior month, according to GlobalData’s USL48 database.

Oil and gas production from Diversified Production Services decreased 1.64% in March 2020 from 2,519.57 boe/d in March 2019.

Year-to-date, the company’s total oil and gas production increased 0.22% from the same period in 2019.

The company’s oil production fell 11.87% to $42.69 billion in March 2020 from the previous month, while gas production fell 3.75% to 14.13 mcf/d . Year-to-date, oil production increased by 455.12% in 2020 compared to the same period in 2019, while gas production decreased by 1.26%. Of the total oil and gas production in March 2020, oil production held a 1.72% share, while gas production held a 98.3% share.

Looking at the states where Diversified Production Services recorded the highest oil and gas production in March 2020, Virginia was in the lead, accounting for a 100% share. The company produced 2,478.3 boe/d in the state in March 2020, down 3.92% from the prior month.

On a YTD basis, the company produced 7,583.82 boe/d in Virginia in 2020, recording a 0.22% increase over the same period in 2019.

Diversified Production Services had the highest oil and gas production in Wise County in March 2020. Of all the counties, Wise County had a 78.76% share for the company. The company produced 1,951.8 boe/d in Wise County in March 2020, a 3.43% decline in production from the prior month.

Year-to-date, the county produced 5,952.73 boe/d for the company in 2020, down 0.17% from the same period in 2019.

Methodology

All publicly announced well data is included in this analysis, which is drawn from GlobalData’s USL48 database which provides information on oil and gas permits and wells as disclosed by State Department sites.

GlobalData collects the latest production data and analyzes trends when made public by state departments. Differences, if any, between the activity period and the article date can be attributed to delays in the publication of data.

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