RRC Production Statistics and Allowables for December 2013

AUSTIN –– The Texas average rig count as of Nov. 15, 2013, was 822, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 666 million barrels of oil and 6.3 trillion cubic feet of natural gas. The Commission’s estimated final production for September 2013 is 63,924,175 barrels of crude oil and 573,709,729 MCF (thousand cubic feet) of gas well gas. The Commission derives final production numbers by multiplying the preliminary September 2013 production totals of 53,903,512 barrels of crude oil and 463,978,754 MCF of gas well gas by a production adjustment factor of 1.1859 for crude oil and 1.2365 for gas well gas. (These production totals do not include casinghead gas or condensate.) Texas natural gas storage reported to the Commission for October was 450,838,572 Mcf compared to 454,264,867 Mcf in October 2012. The November 2013 gas storage estimate is 455,914,004 Mcf. The Texas Railroad Commission’s Oil and Gas Division set initial December 2013 natural gas production allowables for prorated fields in the state to meet market demand of 7,731,307 MCF (thousand cubic feet). In setting the initial December 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 December 2013 is reported. ###