RRC Production Statistics and Allowables for July 2012 - June 29, 2012
06/29/2012
AUSTIN ––The Texas average rig count as of June 22 was 938, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 437 million barrels of oil and 7.2 trillion cubic feet of natural gas.
The Commission’s estimated final production for April 2012 is 41,711,182 barrels of crude oil and 491,644,000 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary April 2012 production totals of 35,939,326 barrels of crude oil and 424,856,550 Mcf of gas well gas by a production adjustment factor of 1.1606 for crude oil and 1.1572 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for May 2012 was 397,325,849 Mcf compared to 395,952,262 Mcf in May 2011. The June 2012 gas storage estimate is 402,021,384 Mcf.
The Texas Railroad Commission’s Oil and Gas Division set initial July 2012 natural gas production allowables for prorated fields in the state to meet market demand of 10,530,548 Mcf (thousand cubic feet). In setting the initial July 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 July 2012 is reported.
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