Published: 06-30-08
AUSTIN –– The Texas average rig count as of June 13 was 916 representing about 51 percent of all active land rigs in the United States. In the last 12 months total Texas reported production was 340 million barrels of oil and 6.6 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 April 2008 is 28842891 barrels of crude oil and 520917608 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary April 2008 production totals of 27057121 barrels of crude oil and 433556062 Mcf of gas well gas by a production adjustment factor of 1.0660 for crude oil and 1.2015 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported by the Commission for May 2008 is 281652025 MCF compared to 335896091 MCF in May 2007. The June 2008 gas storage estimate is 279614340 MCF.
The Texas Railroad Commission’s Oil and Gas Division set initial July 2008 natural gas production allowables for prorated fields in the state to meet market demand of 18216390 Mcf (thousand cubic feet). In setting the initial July 2008 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 July 2008 is reported.
