The Texas Railroad Commission’s estimated final production for February 2013 is 50,757,801 barrels of crude oil and 462,106,302 MCF (thousand cubic feet) of gas well gas.
The commission derives final production numbers by multiplying the preliminary February 2013 production totals of 43,692,693 barrels of crude oil and 405,463,106 MCF of gas well gas by a production adjustment factor of 1.1617 for crude oil and 1.1397 for gas well gas. (These production totals do not include casinghead gas or condensate.)
Texas natural gas storage reported to the commission for March was 284,989,462 Mcf compared to 381,523,773 Mcf in March 2012. The April 2013 gas storage estimate is 286,702,776 Mcf.
The commission’s Oil and Gas Division set initial May 2013 natural gas production allowables for prorated fields in the state to meet market demand of 8,316,435 MCF (thousand cubic feet). In setting the initial May 2013 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 2013 is reported.