Texas Oil Production Drops



Texas Oil Production Drops
Crude oil production in Texas dropped year on year in March, according to the Railroad Commission of Texas' latest figures.

Crude oil production in Texas dropped year on year in March, according to the Railroad Commission of Texas’ (RRC) latest figures.

The preliminary reported total volume of crude oil production in Texas was 107 million barrels during the month, which marked a significant drop from the reported total production volume of 128 million barrels registered during the same period last year.

Average daily production in March this year stood at 3.4 million barrels, according to the RRC. This figure came in at 4.1 million barrels during the same period last year.

Crude oil production as reported to the RRC for March 2020 came from 171,775 oil wells. The top 10 crude oil producing counties by preliminary output in Texas in March 2020, as outlined by the RRC, are as follows:

  1. Midland – 14,081,086 barrels
  2. Martin - 9,875,919 barrels
  3. Karnes - 7,830,121 barrels
  4. Reeves - 7,225,821 barrels
  5. Howard - 6,056,915 barrels
  6. Upton - 5,284,958 barrels
  7. Loving - 4,540,473 barrels
  8. Reagan - 3,540,767 barrels
  9. Glasscock - 3,504,720 barrels
  10. La Salle - 3,158,694 barrels

Crude oil production reported by the RRC is limited to oil produced from oil leases and does not include condensate, which is reported separately by the RRC. Preliminary figures are based on production volumes reported by operators and will be updated as late and corrected production reports are received by the commission.

The RRC, which was established in 1891, is the oldest regulatory agency in the state and one of the oldest of its kind in the nation. Through its oil and gas division, the RRC regulates the exploration, production and transportation of oil and natural gas in Texas.

Earlier this month the RRC voted against government mandated cuts. The Texas Oil & Gas Association (TXOGA) and Texas Independent Producers and Royalty Owners (TIPRO) supported the decision. 

To contact the author, email andreas.exarheas@rigzone.com



WHAT DO YOU THINK?


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John David LaRue  |  May 28, 2020
Why would you not at least mention Feb. production. Comparing to March of last year when production is steadily going up over the pas 12 months is meaningless.
John David LaRue  |  May 27, 2020
The big drops will come in April and May. April 20th was the "bottom" in oil price.