RRC PRODUCTION STATISTICS AND ALLOWABLES FOR MAY 2010
AUSTIN –– The Texas average rig count as of April 23 was 635, representing about 45 percent of all active land rigs in the United States. In the last 12 months, total Texas reported production was 344 million barrels of oil and 7.5 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 February 2010 is 27,073,270 barrels of crude oil and 533,691,225 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary February 2010 production totals of 25,737,494 barrels of crude oil and 466,676,482 Mcf of gas well gas by a production adjustment factor of 1.0519 for crude oil and 1.1436 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the Commission for March 2010 was 283,866,240 Mcf compared to 315,391,173 Mcf in March 2009. The April 2010 gas storage estimate is 317,518,540 Mcf.The Texas Railroad Commission’s Oil and Gas Division set initial May 2010 natural gas production allowables for prorated fields in the state to meet market demand of 14,775,198 Mcf (thousand cubic feet). In setting the initial May 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 May 2010 is reported.