RRC PRODUCTION STATISTICS AND ALLOWABLES FOR MAY 2015
AUSTIN –– The Texas average rig count as of April 17, was 411, representing about 45 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 930 million barrels of oil and 8.3 trillion cubic feet of natural gas.
The Commission’s estimated final production for February 2015 is 76,977,022 barrels of crude oil and 485,389,059 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary February 2015 production totals of 65,568,162 barrels of crude oil and 420,213,885 Mcf of gas well gas by a production adjustment factor of 1.1740 for crude oil and 1.1551 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for March 2015 was 235, 896, 730 Mcf compared to 133,640,425 Mcf in March 2014. The April 2015 gas storage estimate is 262,942,874 Mcf.
The Commission’s Oil and Gas Division set initial May 2015 natural gas production allowables for prorated fields in the state to meet market demand of 8,404,768 Mcf (thousand cubic feet). In setting the initial May 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 May 2015 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 almost 100 years regulating the oil and gas industry. Additionally, the Commission has jurisdiction over alternative fuel s safety, natural gas utility, surface mining and intrastate 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, visit http://www.rrc.texas.gov/.