RRC Production Statistics and Allowables for October 2011

AUSTIN –– The Texas average rig count as of Sept. 26, was 898, representing about 46 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 371 million barrels of oil and 7.1 trillion cubic feet of natural gas.

The Commission’s estimated final production for July 2011 is 32,470,974 barrels of crude oil and 538,845,154 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary July 2011 production totals of 29,778,956 barrels of crude oil and 475,717,449 Mcf of gas well gas by a production adjustment factor of 1.0904 for crude oil and 1.1327 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for August 2011 was 353,961,061 Mcf compared to 336,492,207 Mcf in August 2010. The September 2011 gas storage estimate is 366,644,451 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial October 2011 natural gas production allowables for prorated fields in the state to meet market demand of 11,846,525 Mcf (thousand cubic feet). In setting the initial October 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 October 2011 is reported.