Oil, gas production in Texas holds steady in January

Texas’ average daily crude oil and natural gas production in January was roughly to equivalent to what it was a year ago, according to numbers kept and released by state regulators at the end of March.

January oil production averaged roughly 2.4 million barrels a day, and gas production averaged 19.6 billion cubic feet per day, both just under average daily production totals for January 2016.

Preliminary numbers released by the Railroad Commission of Texas, the state’s oil and gas regulator, show that companies extracted more than 75 million barrels of crude and more than 608 billion cubic feet of gas in January. There were more than 166,000 producing oil wells in January, and more than 91,000 gas wells. Overall, Texas has more than 400,000 inactive and active wells.

The Railroad Commission’s crude oil numbers do not count condensate, an ultra-light oil. But the U.S. Energy Information Administration does count condensate in its daily crude oil production numbers, which for January are about a million barrels higher.

 

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