By JOHN P. TRETBAR
Eagle Media
The Texas Oil and Gas Association (TXOGA) reports the state's operators set new records in July for the production of crude, natural gas, and natural gas liquids.
Output in the Lone Star State has been on a roll, setting the previous record in May before dipping slightly in June. TXOGA’s projections show that Texas produced 5.76 million barrels of crude oil per day in July.
According to the trade group, Texas now accounts for nearly 43% of all U.S. crude production.
Crude production in the United States averaged 13.3 million barrels per day in the week through August 23. That's down more than 100,000 daily barrels from a week ago and half a million barrels per day higher than a year ago. Cumulative production so far this year is nearly 13.2 million barrels per day, which is seven percent higher than a year ago.
The Energy Department continues to take delivery on large shipments of crude oil to refill the Strategic Petroleum Reserve. In the week through August 23 the total rose by 700,000 barrels to just under 378 million.
Commercial crude inventories dropped by 800,000 barrels last week, to just over 425 million barrels. Stockpiles are about four percent below the five-year average for this time of year.
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Regulators in the Sunflower State okayed 25 new drilling locations last week, 664 so far this year, compared to 826 a year ago. There are 12 new drilling permits east of Wichita and 13 in western Kansas, including two in Barton County, two in Ellis County, and one in Russell County.
Operators in Kansas completed 39 wells in the week through August 29, with 16 in the western half of the state including one in Stafford County. That's 901 new well-completions so far this year, down from 1,120 last year at this time.
The Kansas Rig Count from Independent Oil & Gas Service is down 19% from a week ago, with eleven active rigs in eastern Kansas, down two, and 15 west of Wichita, down four. Drilling was underway Friday on two leases in Barton County, and was about to begin on a lease in Ellis County.
The Rotary Rig Count from Baker Hughes was down two gas rigs last week for a total of 583 rigs. The tally for horizontal drilling were down three rigs nationwide. Pennsylvania dropped three rigs, while New Mexico and Colorado were each down one. The total was up one in both Oklahoma and Louisiana.
Crude imports surpassed exports by nearly three million barrels a day last week. Petroleum product exports outpaced imports by 4.6 million barrels a day.
EIA says crude imports averaged 6.6 million barrels a day, down by about 92,000 barrels a day from a week ago. Crude imports are up more than half a million daily barrels from two years ago. The four-week average is down six percent from a year ago.
Crude exports averaged 3.6 million barrels a day, which is down more than 370,000 daily barrels from a week earlier, and 850,000 barrels a day less than two years ago. Four week average exports are down nearly 200,000 barrels a day from a year ago.
Prices at the gas pump haven't been this low since March, and they're heading lower. The government says gasoline demand is up from last year, and inventories are down, but prices keep dropping.
The national average for a gallon of regular is $3.36 a gallon, down 14 cents from a month ago, and 46 cents a gallon lower than last year at this time.
The average in Kansas is $3.05 per gallon.