RRC Production Statistics and Allowables for April 2012

AUSTIN –– The Texas average rig count as of March 16 was 921, representing about 48 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 403 million barrels of oil and 7.1 trillion cubic feet of natural gas.

The Commission’s estimated final production for January 2012 is 36,934,290 barrels of crude oil and 513,349,055 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary January 2012 production totals of 33,012,415 barrels of crude oil and 458,962,052 Mcf of gas well gas by a production adjustment factor of 1.1188 for crude oil and 1.1185 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for February 2012 was 359,565,528 Mcf compared to 282,505,230 Mcf in February 2011. The March 2012 gas storage estimate is 363,216,147 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial April 2012 natural gas production allowables for prorated fields in the state to meet market demand of 10,063,648 Mcf (thousand cubic feet). In setting the initial April 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 April 2012 is reported.

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