With 2007 production of 6.3 trillion cubic feet, Texas is meeting 29 percent of the country's demand for natural gas, according to the Texas Railroad Commission's Oil and Gas Division.
The RRC also reported Texas 2007 oil production at 337 million barrels of oil. The state had an average rig count of 872, representing nearly half -- about 48 percent -- of all active land rigs in the United States.
The commission's estimated final production for October 2007 is 28.2 million barrels of crude oil and 481.4 Mcf (thousand cubic feet) of gas.
Texas natural gas storage reported by the commission for November 2007 is 395.5 million Mcf, compared with 444.3 million Mcf in November 2006. The December 2007 gas storage estimate is 392.4 million Mcf.
The RRC set initial January 2008 natural gas production allowables for prorated fields in the state to meet market demand of 16.7 million Mcf.
In setting the initial January 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. The initial allowables will be adjusted after actual production for January 2008 is reported.
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