RRC Production Statistics and Allowables for August 2013

AUSTIN –– The Texas average rig count as of July 19 was 836, 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 May 2013 is 62,874,983 barrels of crude oil and 540,081,284 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary May 2013 production totals of 52,221,747 barrels of crude oil and 450,819,102 Mcf of gas well gas by a production adjustment factor of 1.2040 for crude oil and 1.1980 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for June was 378,241,222 Mcf compared to 395,609,358 Mcf in June 2012. The July 2013 gas storage estimate is 386,800,901 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial August 2013 natural gas production allowables for prorated fields in the state to meet market demand of 8,061,885 MCF (thousand cubic feet). In setting the initial August 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 August 2013 is reported.