RRC PRODUCTION STATISTICS AND ALLOWABLES FOR JUNE 2012
AUSTIN –– The Texas average rig count as of May 18 was 934, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 427 million barrels of oil and 7.2 trillion cubic feet of natural gas.
The Commission’s estimated final production for March 2012 is 41,912,707 barrels of crude oil and 520,471,756 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary March 2012 production totals of 36,649,796 barrels of crude oil and 455,874,359 Mcf of gas well gas by a production adjustment factor of 1.1436 for crude oil and 1.1417 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for April 2012 was 380,609,453 Mcf compared to 351,611,671 Mcf in April 2011. The May 2012 gas storage estimate is 389,568,577 Mcf.The Texas Railroad Commission’s Oil and Gas Division set initial June 2012 natural gas production allowables for prorated fields in the state to meet market demand of 10,140,681 Mcf (thousand cubic feet). In setting the initial June 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 June 2012 is reported.