RRC Production Statistics and Allowables for December 2012

AUSTIN –– The Texas average rig count as of November 2012 was 853, representing about 49 percent of all active land rigs in the United States.  In the last 12 months, total Texas reported production was 498 million barrels of oil and 7.2 trillion cubic feet of natural gas. 

The Commission’s estimated final production for September 2012 is 47,876,723 barrels of crude oil and 509,106,484 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary September 2012 production totals of 40,307,058 barrels of crude oil and 436,626,487 Mcf of gas well gas by a production adjustment factor of 1.1878 for crude oil and 1.1660 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for October 2012 was 454,254,178 Mcf compared to 434,964,586 Mcf in October 2011.  The October 2012 gas storage estimate is 457,839,976 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial December 2012 natural gas production allowables for prorated fields in the state to meet market demand of 10,261,563 Mcf (thousand cubic feet).  In setting the initial December 2012 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 2012 is reported.