RRC Production Statistics and Allowables for August 2011

AUSTIN ––The Texas average rig count as of July 15, was 859, representing about 46 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 367 million barrels of oil and 7.2 trillion cubic feet of natural gas.

The Commission’s estimated final production for May 2011 is 33,085,246 barrels of crude oil and 540,627,465 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary May 2011 production totals of 30,151,505 barrels of crude oil and 484,650,350 Mcf of gas well gas by a production adjustment factor of 1.0973 for crude oil and 1.1155 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for June 2011 was 394,643,580 Mcf compared to 390,128,897 Mcf in June 2010. The July 2011 gas storage estimate is 395,214,533 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial August 2011 natural gas production allowables for prorated fields in the state to meet market demand of 12,203,255 Mcf (thousand cubic feet). In setting the initial August 2011 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 August 2011 is reported.