RRC PRODUCTION STATISTICS AND ALLOWABLES FOR DECEMBER 2014
AUSTIN –– The Texas average rig count as of November 14, was 901, representing about 48 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 851 million barrels of oil and 8.0 trillion cubic feet of natural gas.
The Commission’s estimated final production for September 2014 is 77,633,356 barrels of crude oil and 505,791,909 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary September 2014 production totals of 65,824,450 barrels of crude oil and 444,652,228 Mcf of gas well gas by a production adjustment factor of 1.1794 for crude oil and 1.1375 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for October 2014 was 380,853,616 Mcf compared to 451,535,720 Mcf in October 2013. The November 2014 gas storage estimate is 393,999,828 Mcf.
The Commission’s Oil and Gas Division set initial December 2014 natural gas production allowables for prorated fields in the state to meet market demand of 8,199,489 Mcf (thousand cubic feet). In setting the initial December 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 December 2014 is reported.
About the Railroad Commission
Established in 1891, the Railroad Commission of Texas is the oldest regulatory agency in the state. The Commission has a long and proud history of service to both Texas and to the nation, including more than 90 years regulating the oil and gas industry. Additionally, the Commission promotes research and education on the use of alternative fuels and has jurisdiction over gas utility, surface mining and pipeline industries. Our mission is to serve Texas by our stewardship of natural resources and the environment, our concern for personal and community safety, and our support of enhanced development and economic vitality for the benefit of Texans. To learn more, please visit http://www.rrc.texas.gov/.