RRC Production Statistics and Allowables for February 2011

AUSTIN–– The Texas average rig count as of Jan. 14, 2011, was 726, representing about 44 percent of all active land rigs in the United States.  In the last 12 months, total Texas reported production was 356 million barrels of oil and 7.3 trillion cubic feet of natural gas.  Texas natural gas production represents approximately 29 percent of total U.S. natural gas demand. 

The Commission’s estimated final production for November 2010 is 29,859,505 barrels of crude oil and 518,014,173 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary November 2010 production totals of 28,273,369 barrels of crude oil and 476,773,284 Mcf of gas well gas by a production adjustment factor of 1.0561 for crude oil and 1.0865 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for December 2010 was 412,041,298 Mcf compared to 410,546,930 Mcf in December 2009.  The January 2011 gas storage estimate is 368,321,646 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial February 2011 natural gas production allowables for prorated fields in the state to meet market demand of 12,031,597 Mcf (thousand cubic feet).  In setting the initial February 2011 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 February 2011 is reported.