The Railroad Commission of Texas released their monthly oil and gas statistics yesterday. To no surprise, Texas is still the best when it comes to producing black gold, but just so everyone is on the up-and-up, here are the latest numbers crunched by the RRC. Because, let’s face it, it’s nice to see evidence of being the best.
As of October 24, Texas had an average rig count of 904, which is nearly 50 percent of all onshore rigs operating in the United States. The average daily barrels of oil produced in August of 2014 was 2,232,400. Since October of 2013, Texas reported production totaled 836 million barrels of oil and 7.9 trillion cubic feet of natural gas.
The RRC’s final estimations for production in August of this year was 81,453,587 barrels of crude oil and 524,273,594 thousand cubic feet (Mcf) of gas well gas. Natural gas storage saw a drop from the same time last year, 322,107,488 Mcf compared to 416,204,766 Mcf respectively. The October 2014 gas storage estimate is 349,186,878 Mcf.
Original drilling permits issued by the RRC of Texas totaled 3,013 in September 2014 compared to 1,531 one year ago. September 2014 permits included 2,667 permits to drill new oil and gas wells, 49 to re-enter existing well bores and 297 for re-completions. In addition, of these permits, 934 involved oil, 173 for gas, 1,811 for oil and gas, 82 injection wells and one for servicing.
The current running tally for well completions in 2014 rests at 23,149, up from 19,114 recorded during the same period in 2013. Read the full statistical overview of Texas oil and gas production from the Railroad Commission of Texas here and here.