Texas’ average rig count and production of oil and gas fell in the latest available reporting periods, the state’s oil and gas regulator said Monday. Texas’ latest average rig count, as of March 20, was 464, down from 598 on February 13, the Railroad Commission of Texas said, citing Baker Hughes statistics. The March rig count represented about 45% of all active land rigs in the US. In March 2014, the commission reported an average rig count of 854. In the commission’s final production estimate for January, the state produced 81 million barrels of oil and 536.3 Bcf of natural gas. The commission’s final production estimate for December was 83.7 million barrels of oil and 553.2 Bcf of natural gas. The commission’s final January 2014 production estimate was 69.9 million barrels of oil and 566.5 Bcf of natural gas. The estimate of Texas’ natural gas in storage in March […]