In observance of the 4th of July Holiday, the Railroad Commission of Texas will be closed Monday, July 3 and Tuesday, July 4. The agency will reopen for business on Wednesday, July 5.
AUSTIN – The Texas average rig count as of Feb. 21 was 843, representing about 50 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 704 million barrels of oil and 7.7 trillion cubic feet of natural gas.
The Commission’s estimated final production for December 2013 is 64,313,383 barrels of crude oil and 534,415,663 MCF (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary December 2013 production totals of 55,716,350 barrels of crude oil and 440,391,976 MCF of gas well gas by a production adjustment factor of 1.1543 for crude oil and 1.2135 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for January 2014 was 265,468,592 MCF compared to 363,235,951 MCF in January 2013. The February 2014 gas storage estimate is 207,735,996 MCF.
The Texas Railroad Commission’s Oil and Gas Division set initial March 2014 natural gas production allowables for prorated fields in the state to meet market demand of 8,225,162 MCF (thousand cubic feet). In setting the initial March 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 March 2014 is reported.