Latest Oil & Gas Stats
By: Texas RRC
Updated: August 29, 2012
PRESS RELEASE:
AUSTIN -- The Texas average rig count as of Aug. 17 was 900, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 461 million barrels of oil and 7.3 trillion cubic feet of natural gas.
The Commission's estimated final production for June 2012 is 46,172,198 barrels of crude oil and 520,218,696 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary June 2012 production totals of 38,566,821 barrels of crude oil and 438,300,359 Mcf of gas well gas by a production adjustment factor of 1.1972 for crude oil and 1.1869 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for July 2012 was 389,787,924 Mcf compared to 382,867,842 Mcf in July 2011. The August 2012 gas storage estimate is 385,510,467 Mcf.
The Texas Railroad Commission's Oil and Gas Division set initial September 2012 natural gas production allowables for prorated fields in the state to meet market demand of 9,784,268 Mcf (thousand cubic feet). In setting the initial September 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 September 2012 is reported.
AUSTIN -- The Texas average rig count as of Aug. 17 was 900, representing about 49 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 461 million barrels of oil and 7.3 trillion cubic feet of natural gas.
The Commission's estimated final production for June 2012 is 46,172,198 barrels of crude oil and 520,218,696 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary June 2012 production totals of 38,566,821 barrels of crude oil and 438,300,359 Mcf of gas well gas by a production adjustment factor of 1.1972 for crude oil and 1.1869 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for July 2012 was 389,787,924 Mcf compared to 382,867,842 Mcf in July 2011. The August 2012 gas storage estimate is 385,510,467 Mcf.
The Texas Railroad Commission's Oil and Gas Division set initial September 2012 natural gas production allowables for prorated fields in the state to meet market demand of 9,784,268 Mcf (thousand cubic feet). In setting the initial September 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 September 2012 is reported.
