Published: 04-30-08
AUSTIN –– The Texas average rig count as of April 18 was 873 representing about 50 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 February 2008 is 27788246 barrels of crude oil and 493669008 Mcf (thousand cubic feet) of gas well gas.
The Commission derives final production numbers by multiplying the preliminary February 2008 production totals of 26317119 barrels of crude oil and 420967859 Mcf of gas well gas by a production adjustment factor of 1.0559 for crude oil and 1.1727 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported by the Commission for March 2008 is 223277982 MCF compared to 273663502 MCF in March 2007. The April 2008 gas storage estimate is 231638076 MCF.
The Texas Railroad Commission’s Oil and Gas Division set initial May 2008 natural gas production allowables for prorated fields in the state to meet market demand of 18137377 Mcf (thousand cubic feet). In setting the initial May 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 May 2008 is reported.
