Texas oil and gas statistics – March/April 2015

Texas oil and gas sector adjusting to significantly lower oil prices

The Texas oil and gas industry continues to post strong production numbers even though the rig count is down and fewer permits are being issued.

The Texas average rig count as of May 22, was 372, representing about 44 percent of all active land rigs in the United States according to Baker Hughes.

The Railroad Commission of Texas (Commission) reports that in the last 12 months, total Texas reported production was 939 million barrels of oil and 8.3 trillion cubic feet of natural gas.

The Commission derives final production numbers by multiplying the preliminary March 2015 production totals of 71,586,361 barrels of crude oil and 459,752,504 Mcf of gas well gas by a production adjustment factor of 1.1857 for crude oil and 1.1597 for gas well gas. (These production totals do not include casinghead gas or condensate.)

Texas natural gas storage reported to the Commission for April 2015 was 306,736,498 Mcf compared to 163,204,730 Mcf in April 2014. The May 2015 gas storage estimate is 340,423,995 Mcf.

The Commission’s Oil and Gas Division set initial June 2015 natural gas production allowables for prorated fields in the state to meet market demand of 7,912,529 Mcf (thousand cubic feet).  In setting the initial June 2015 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 2015 is reported.

Texas oil and gas – April permits to drill 

The Railroad Commission of Texas issued a total of 848 original drilling permits in April 2015 compared to 1,919 in April 2014.

The April total included 721 permits to drill new oil and gas wells, 9 to re–enter existing well bores and 118 for re–completions. Permits issued in April 2015 included 218 oil, 51 gas, 530 oil and gas, 40injection, zero service and nine other permits.

Texas oil and gas – March crude oil production

Texas preliminary March 2015 crude oil production averaged 2,309,237 barrels daily, up from the 2,014,480 barrels daily average of March 2014.

The preliminary Texas crude oil production figure for March 2015 is 71,586,361 barrels, up from 62,448,869 barrels reported during March 2014.

Texas oil and gas – April oil and gas completions

In April 2015, operators reported 1,867 oil, 314 gas, 125 injection and one other completions compared to 1,012 oil, 92 gas, 21 injection and four other completions in April 2014.

Total well completions for 2015 year to date are 8,253 down from 11,259 recorded during the same period in 2014.

Operators reported 440 holes plugged and zero dry holes in April 2015 compared to 350 holes plugged and zero dry holes in April 2014.

Texas oil and gas – March natural gas production

Texas oil and gas wells produced 614,349,192 Mcf (thousand cubic feet) of gas based upon preliminary production figures for March 2015 up from the March 2014preliminary gas production total of 593,191,901 Mcf. Texas preliminary March total gas production averaged 19,817,716 Mcf (thousand cubic feet) a day.

Texas production in March 2015 came from 163,097 oil wells and 90,555 gas wells.