RRC Production Statistics and Allowables for September 2012

  AUSTIN –– The Texas average rig count as of Sept. 21, was 877, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 474 million barrels of oil and 7.2 trillion cubic feet of natural gas.

The Commission’s estimated final production for July 2012 is 49,002,732 barrels of crude oil and 524,613,151 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary July 2012 production totals of 40,321,511 barrels of crude oil and 441,853,913 Mcf of gas well gas by a production adjustment factor of 1.2153 for crude oil and 1.1873 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for August 2012 was 391,994,296 Mcf compared to 353,961,061 Mcf in August 2011. The September 2012 gas storage estimate is 404,036,307 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial October 2012 natural gas production allowables for prorated fields in the state to meet market demand of 9,784,268 Mcf (thousand cubic feet). In setting the initial October 2012 allowables, the Commission used historical production figures from previous months, producers’ demand forecasts for the coming month, and adjusted the figures based on well capability. These initial allowables will be adjusted after actual production for October 2012 is reported.