The Texas Railroad Commission has released its incomplete production data for February. The RRC also estimates final production but that data has not been posted yet.
All Texas RRC data is through February. The EIA data is through January.
It looks like, after the final Texas data comes in, that February crude oil will be above January production but still below December production. It is my best guess that Texas production will be down about 80,000 barrels per day in January and up about 50,000 bpd in February or about 30,000 bpd below December production.
I always post the last six months data just so we can get some idea of the general trend. You can see the general trend is up until January when it took a huge hit and only partially recovered in February. Related: Is Saudi Arabia Setting The World Up For Major Oil Price Spike?
Texas condensate likely peaked back in April 2014 but it will be close. December condensate production could, after all the data comes in, could be a bit higher.
Texas gas production is in MCF. Texas total gas has been going up and down for about six years now. I have no idea how much natural gas Texas could produce if gas prices were higher. But it looks like, at current prices, Texas natural gas production peaked back in August. Related: Saudi Price War Strategy May Blow Up In Their Face
Texas gas well gas inched up slightly in February after that huge decline in January. So February numbers will still be well below the December production numbers. Related: Is This Where Investors Should Be Looking When Oil Recovers?
Texas associated gas production in February was well above their January production numbers. Associated gas accounts for about one fourth of total Texas gas production.
By Ron Patterson
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Ron Patterson is a retired computer engineer. He worked in Saudi Arabia for five years, two years at the Ghazlan Power Plant near Ras Tanura… More