AUSTIN –– The Texas average rig count as of Feb. 12 was 542, representing about 42 percent of all active land rigs in the United States.  In the last 12 months, total Texas reported production was 345 million barrels of oil and 7.6 trillion cubic feet of natural gas.  Texas natural gas production represents approximately 29 percent of total U.S. natural gas demand. 

The Commission’s estimated final production for December 2009 is 29,125,603 barrels of crude oil and 605,530,470 Mcf (thousand cubic feet) of gas well gas.

The Commission derives final production numbers by multiplying the preliminary December 2009 production totals of 27,670,153 barrels of crude oil and 514,469,388 Mcf of gas well gas by a production adjustment factor of 1.0526 for crude oil and 1.1770 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for January 2010 was 325,089,462 Mcf compared to 300,628,009 Mcf in January 2009.  The February 2010 gas storage estimate is 272,409,797 Mcf.

The Texas Railroad Commission’s Oil and Gas Division set initial March 2010 natural gas production allowables for prorated fields in the state to meet market demand of 17,814,328 Mcf (thousand cubic feet).  In setting the initial March 2010 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 March 2010 is reported.