Montana witnessed an increase of 6.75% in total oil and gas production to 1,00,366.77 boe/d in August 2021 when compared with the previous month, according to GlobalData’s USL48 database.

The oil and gas production declined by 0.04% in August 2021 from 1,00,408.32 boe/d in August 2020. On a YTD basis, the total oil and gas production in 2021 decreased by 1.21% from the same period in 2020.

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In August 2021, oil production grew by 7.42% to 50,863.32 bd as against the previous month, while gas production up by 6.07% to 287.12 mmcf/d.

On a YTD basis, oil production decreased by 3.99% in 2021 when compared with the same period in 2020, while gas production rose by 1.8%. Out of the total oil and gas production in August 2021, oil held a 50.68% share, while gas had a 49.32% share.

 

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In Montana, Denbury Resources emerged as the largest oil and gas producer, recording a total oil and gas production at 43,133.9 boe/d in August 2021, an increase of 5.56% from the previous month. The company held a 26.07% share in oil production and 60.35% share in gas production in August 2021.

On a YTD basis, the company registered a 2.02% decrease in total oil and gas production from the same period in 2020.

 


 

Compared with other counties in Montana, Powder River county recorded the highest oil and gas production, holding a 34.59% share in August 2021. The county witnessed an 8.04% increase in production to 34,720.65 boe/d in August 2021 when compared with the previous month.

On a YTD basis, Powder River registered a decline of 0.38% 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.

More in-depth reports and analysis on all reported information are available to subscribers through GlobalData’s Oil and Gas database.