The Railroad Commission of Texas will be closed Wednesday, Nov. 22 through Friday, Nov. 24 in observance of Thanksgiving. The RRC will reopen for regular business Monday morning, Nov. 27. We wish everyone a safe and happy holiday.
RRC Production Statistics and Allowables for November 2012
AUSTIN –– The Texas average rig count as of October 2012, was 867, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 486 million barrels of oil and 7.2 trillion cubic feet of natural gas.
The Commission’s estimated final production for August 2012 is 50,378,711 barrels of crude oil and 537,924,295 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary August 2012 production totals of 41,604,353 barrels of crude oil and 455,520,616 Mcf of gas well gas by a production adjustment factor of 1.2109 for crude oil and 1.1809 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for September 2012 was 424,283,340 Mcf compared to 385,102,434 Mcf in September 2011. The October 2012 gas storage estimate is 443,380,900 Mcf.
The Texas Railroad Commission’s Oil and Gas Division set initial November 2012 natural gas production allowables for prorated fields in the state to meet market demand of 10,297,001 Mcf (thousand cubic feet). In setting the initial November 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 November 2012 is reported.