RRC Open Meeting

The Railroad Commission of Texas has scheduled an open meeting (conference) for today, May 23, at 9:30 a.m. Click HERE to view the webcast.

RRC Production Statistics and Allowables for February 2012

01/30/2012

AUSTIN ––The Texas average rig count as of Jan. 20 was 918, representing about 47 percent of all active land rigs in the United States.  In the last 12 months, total Texas reported production was 385 million barrels of oil and 7.1 trillion cubic feet of natural gas. 

The Commission’s estimated final production for November 2011 is 32,846,052 barrels of crude oil and 494,232,858 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary November 2011 production totals of 29,900,821 barrels of crude oil and 444,414,044 Mcf of gas well gas by a production adjustment factor of 1.0985 for crude oil and 1.1121 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for December 2011 was 415,347,128 Mcf compared to 412,041,298 Mcf in December 2010.  The January 2012 gas storage estimate is 406,152,651 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial February 2012 natural gas production allowables for prorated fields in the state to meet market demand of 10,145,965 Mcf (thousand cubic feet).  In setting the initial February 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 February 2012 is reported.