Published: 06-01-07
AUSTIN –– The Texas average rig count as of May 18 was 818 representing about 50 percent of all active land rigs in the United States. In the last 12 months total Texas reported production was 341 million barrels of oil and 6.2 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 March 2007 is 29085112 barrels of crude oil and 463274671 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary March 2007 production totals of 27861971 barrels of crude oil and 432522333 Mcf of gas well gas by a production adjustment factor of 1.0439 for crude oil and 1.0711 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported by the Commission for April 2007 is 301062155 Mcf compared to 310653427 Mcf in April 2006. The May 2007 gas storage estimate is 316093411 Mcf.
The Texas Railroad Commission’s Oil and Gas Division set initial June 2007 natural gas production allowables for prorated fields in the state to meet market demand of 19428199 Mcf (thousand cubic feet). In setting the initial June 2007 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 June 2007 is reported.
