RRC Production Statistics and Allowables for October 2013

AUSTIN –– The Texas average rig count as of September 20 was 927, representing about 55 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 July 2013 is 64,127,455 barrels of crude oil and 571,733,437 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary July 2013 production totals of 52,259,355 barrels of crude oil and 458,965,591 Mcf of gas well gas by a production adjustment factor of 1.2271 for crude oil and 1.2457 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for August was 389,415,570 Mcf compared to 389,812,446 Mcf in August 2012. The September 2013 gas storage estimate is 398,340,111 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial October 2013 natural gas production allowables for prorated fields in the state to meet market demand of 8,190,427 MCF (thousand cubic feet). In setting the initial October 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 October 2013 is reported.