RRC Production Statistics and Allowables for April 2013

AUSTIN –– The Texas average rig count as of March 15 was 837, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 547 million barrels of oil and 7.2 trillion cubic feet of natural gas.

The Commission’s estimated final production for January 2013 is 51,732,068 barrels of crude oil and 497,017,272 MCF (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary January 2013 production totals of 44,238,129 barrels of crude oil and 433,319,330 MCF of gas well gas by a production adjustment factor of 1.1694 for crude oil and 1.1470 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for February was 316,335,779 Mcf compared to 357,382,948 Mcf in February 2012. The March 2013 gas storage estimate is 301,321,493 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial April 2013 natural gas production allowables for prorated fields in the state to meet market demand of 8,665,941 MCF (thousand cubic feet). In setting the initial April 2013 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 2013 is reported.