RRC Production Statistics and Allowables for May 2012

 AUSTIN –– The Texas average rig count as of April 20 was 924, representing about 48 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 417 million barrels of oil and 7.2 trillion cubic feet of natural gas.

The Commission’s estimated final production for February 2012 is 37,326,151 barrels of crude oil and 478,457,488 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary February 2012 production totals of 32,976,545 barrels of crude oil and 423,413,706 Mcf of gas well gas by a production adjustment factor of 1.1319 for crude oil and 1.1300 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for March 2012 was 383,705,623 Mcf compared to 313,583,188 Mcf in March 2011. The April 2012 gas storage estimate is 379,204,711 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial May 2012 natural gas production allowables for prorated fields in the state to meet market demand of 9,907,788 Mcf (thousand cubic feet). In setting the initial May 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 May 2012 is reported.

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