TXOGA Situation Report 2/24/22: Texas Natural Gas Continues to Provide Significant Product Across the U.S. and Abroad During Inclement Weather

View this report as a PDF here

NATURAL GAS PRODUCTION, TRANSPORTATION AND STORAGE
Texas natural gas production, processing, transmission and storage sectors continue robust performance. While daily production across the U.S. has decreased slightly, Texas continues to show strong performance.

RBN Energy shows Permian production holding strong over the last week despite the inclement weather and low temperatures.


Source: RBN Energy

Overall, Texas continues to produce between 24 and 26 BCF/day with industry announcements suggesting continued growth.

NATURAL GAS AVAILABILIY
Typically, Texas consumption (residential, commercial, industrial, power generation, etc.) is approximately only 49.6% of the total Texas production. Volumes of natural gas at current production levels exceed the daily natural gas needed for power generation, 4.8 BCF, by more than five times what’s needed.

With proper planning, ample natural gas should be available for purchase, even with declines in production, when combined with storage. Any issues acquiring product when preplanning has occurred are likely a reflection of contracting shortfalls, direct infrastructure, or localized, isolated challenges.

WEATHER PREPARATION
In anticipation of the winter weather, Governor Greg Abbott on Tuesday, February 22, ordered the Texas Division of Emergency Management (TDEM) to increase the readiness of the State Emergency Operations Center (SOC) to Level II: Escalated Response for Winter Weather ahead of wintry conditions expected to impact portions of Texas, with the greatest impacts Wednesday through the weekend.

Representatives from key state agencies belonging to the Emergency Management Council reported to the SOC beginning Wednesday, February 23 at 7:00 AM CT to assist in the state’s winter weather response.

Light snow was experienced in the Panhandle and portions of West Texas Tuesday night into Thursday morning. Wintry mix was present in some areas of North and Central Texas beginning Wednesday and are expected to last through Friday. Additionally, extremely cold wind chill is forecast nearly statewide and should continue through Saturday morning.

Read the full press release here.

INDUSTRY ACTIONS
Industry continues to participate daily with the state and multi-industry emergency response teams to ensure communication is prioritized during weather challenges.

Read here how the Texas oil and natural gas industry prepares for winter weather events

GRID RELIABILITY
ERCOT indicates the peak demand will be at 8:00 AM on Friday, February 25th. Operations are reported to be normal with adequate capacity.


Source: ERCOT

STATEWIDE RESOURCES

For more information on how the Texas oil and natural gas industry prepares for winter weather, visit www.txoga.org/winterready.

This TXOGA Situation Report is a service to TXOGA members and includes a summary of forecasts, estimates and updates of energy resources and current weather and conditions. Part of the service is to provide an estimated status of the natural gas sector using third party information. Users of the service should seek to verify the information included in this service prior to use. TXOGA does not warranty, expressly or impliedly, the information contained in the service. Information is subject to change based on third party information updates and revisions. Distribution after receipt by the intended recipient is strictly prohibited.

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Founded in 1919, TXOGA is the oldest and largest oil and gas trade association in Texas representing every facet of the industry.

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