RRC PRODUCTION STATISTICS AND ALLOWABLES FOR NOVEMBER 2011

AUSTIN –– The Texas average rig count as of Oct. 21 was 905, representing about 46 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 374 million barrels of oil and 7.1 trillion cubic feet of natural gas.

The Commission’s estimated final production for August 2011 is 33,058,701 barrels of crude oil and 531,711,003 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary August 2011 production totals of 30,499,770 barrels of crude oil and 469,792,369 Mcf of gas well gas by a production adjustment factor of 1.0839 for crude oil and 1.1318 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for September 2011 was 385,102,434 Mcf compared to 393,036,566 Mcf in September 2010. The October 2011 gas storage estimate is 409,528,001 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial November 2011 natural gas production allowables for prorated fields in the state to meet market demand of 10,401,322 Mcf (thousand cubic feet). In setting the initial November 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 November 2011 is reported.