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Estimating Texas Production-Bridging the Gap

ESTIMATING TEXAS PRODUCTION-BRIDGING THE GAP

chart/

(Details for the chart above are explained in the post.)

The Texas Railroad Commission (RRC) had the oil and gas production reported online in early 2005, and became fully online for producers and the public on Feb 14, 2005. At the time it was set up, it required the producers to input their production in the production file for existing approved leases, and in the pending lease data file for those leases which have not yet received an approved lease number by the RRC. Each month, the RRC only reports the oil and condensate that is currently updated that month which is in the production file.

Historically, the production did not seem to be completely reported. The lag time to near full reporting of RRC production went from almost 18 months, down to about nine months within the past two years. Even at nine months it leaves interested parties trying to find some way to estimate what current Texas oil production is.

EIA, of course, has been one of those interested parties. RRC, also, attempted to provide an estimate of current production from the initial report of the production file. The two entities were not close, at times, and left many calling RRC to find out why there was a discrepancy. Eventually, RRC stopped reporting an estimate, leaving EIA to be the primary estimator for Texas production in the month it is reported. EIA has improved its method, which is described on their website. Basically, it involves using drillinginfo.com current estimates compared to production reports sent in by the majority of the producers. That is simplified, as it is a massive effort to estimate Texas production for the current reporting month.

…click on the above link to read the rest of the article…

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