RRC Production Statistics and Allowalbes for August
AUSTIN, July 28, 2015 – The Texas average rig count as of July 17, was 366, representing about 44 percent of all active land rigs in the United States according to Baker Hughes Incorporated. The Railroad Commission of Texas (Commission) reports that in the last 12 months, total Texas reported production was 977 million barrels of oil and 8.4 trillion cubic feet of natural gas.
The Commission’s estimated final production for May 2015 is 91,026,903 barrels of crude oil and 542,213,968 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary May 2015 production totals of 75,309,757 barrels of crude oil and 463,509,974 Mcf of gas well gas by a production adjustment factor of 1.2087 for crude oil and 1.1698 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for June 2015 was 394,385,958 Mcf compared to 242,335,211 Mcf in June 2014. The July 2015 gas storage estimate is 406,108,196 Mcf.
The Commission’s Oil and Gas Division set initial August 2015 natural gas production allowables for prorated fields in the state to meet market demand of 6,998,577 Mcf (thousand cubic feet). In setting the initial August 2015 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 August 2015 is reported.