RRC Production Statistics and Allowables for January 2014

AUSTIN –– The Texas average rig count as of December 13 was 846, representing about 50 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 677 million barrels of oil and 6.3 trillion cubic feet of natural gas.

The Commission’s estimated final production for October 2013 is 63,932,725 barrels of crude oil and 569,435,256 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary October 2013 production totals of 54,522,194 barrels of crude oil and 462,917,857 Mcf of gas well gas by a production adjustment factor of 1.1726 for crude oil and 1.2301 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for November was 436,325,959 Mcf compared to 463,524,469 Mcf in November 2012. The December 2013 gas storage estimate is 391,122, 702 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial January 2014 natural gas production allowables for prorated fields in the state to meet market demand of 8,125,899 MCF (thousand cubic feet). In setting the initial January 2014 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 January 2014 is reported.