RRC PRODUCTION STATISTICS AND ALLOWABLES FOR OCTOBER 2014

AUSTIN –– The Texas average rig count as of September 19, was 898, representing about 48 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 820 million barrels of oil and 7.9 trillion cubic feet of natural gas. 

The Railroad Commission of Texas’ estimated final production for July 2014 is 82,583,166 barrels of crude oil and 540,569,662 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary July 2014 production totals of 69,573,013 barrels of crude oil and 473,104,903 Mcf of gas well gas by a production adjustment factor of 1.1870 for crude oil and 1.1426 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for August 2014 was 273,616,386 Mcf compared to 389,293,227 Mcf in August 2013. The September 2014 gas storage estimate is 287,262,415 Mcf.

The Commission’s Oil and Gas Division set initial October 2014 natural gas production allowables for prorated fields in the state to meet market demand of 8,586,250 Mcf (thousand cubic feet). In setting the initial October 2014 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 2014 is reported. 

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