RRC Production Statistics and Allowables for June 2013

AUSTIN –– The Texas average rig count as of May 17 was 831, representing about 49 percent of all active land rigs in the United States.  In the last 12 months, total Texas reported production was 583 million barrels of oil and 7.4 trillion cubic feet of natural gas. 

The Commission’s estimated final production for March 2013 is 58,472,484 barrels of crude oil and 524,643,816 MCF (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary March 2013 production totals of 50,087,788 barrels of crude oil and 455,578,166 MCF of gas well gas by a production adjustment factor of 1.1674 for crude oil and 1.1516 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for April was 300,716,943 Mcf compared to 378,427,552 Mcf in April 2012.  The May 2013 gas storage estimate is 328,988,802 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial June 2013 natural gas production allowables for prorated fields in the state to meet market demand of 8,779,071 MCF (thousand cubic feet).  In setting the initial June 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 June 2013 is reported.