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Royalty Clerk

Texas oil lease · RRC district 08 · Lease 53723

Producing

BAXTER

Baxter is an oil lease in Howard County, Texas, operated by SM Energy Company in the Spraberry (Trend Area) field. The Railroad Commission shows 6,277 bbl of oil in the 12 months through Jun 2026.

Oil lease dossier · 1 well

6,277bbl oil, last 12 months−66% vs prior year
Operator
SM Energy Company
County
Howard County
Field
Spraberry (Trend Area)
RRC lease
08-53723

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Where it sits

This county

Howard CountyHowardMitchellMartinScurryDawsonBordenHoward County
Howard County · RRC district 08Open Howard County →
Gas, last 12 months
2,179 mcf
Oil in Jun 2026
970 bbl
Reporting to the state
since Jan 2020
Wells
1

Production

Month by month, from the state record

What the Railroad Commission says this oil lease produced. Oil is in barrels (bbl). Gas is in thousand cubic feet (mcf).

Oil output fell 66% over the last 12 months

6,054 bbl in the 12 months through Jul 2026, against 18,009 bbl in the 12 months before. Jul 2026 was not reported. A red cross marks each one.

  • Oil (bars, left axis)
  • Gas (line, right axis)
  • Last 12 months
Oil output fell 66% over the last 12 monthsMonthly oil production and gas for BAXTER, Aug 2023 to Jul 2026. Oil output fell 66% over the last 12 months. 6,054 bbl in the 12 months through Jul 2026, against 18,009 bbl in the 12 months before.Last 12 months: 6,054 bblbbl per monthmcf per month001,0002,5002,0005,0003,0007,5004,00010k5,00012.5kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 66% over the last 12 monthsMonthly oil production and gas for BAXTER, Aug 2023 to Jul 2026. Oil output fell 66% over the last 12 months. 6,054 bbl in the 12 months through Jul 2026, against 18,009 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001,0002,5002,0005,0003,0007,5004,00010k5,00012.5kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, oil lease 53723, district 08. Reported through Jul 2026. The state revises recent months.

Gas disposition

Where the gas went

Every month the operator tells the state where each mcf of gas went, using a code. The code decides how your gas is paid.

87% of the gas went to a processing plant in the last 12 months

Flaring peaked at 53.4% of the gas in Feb 2026.

  • Processing plant (3)
  • Flared (4)
87% of the gas went to a processing plant in the last 12 monthsShare of BAXTER gas by disposition code each month, Aug 2023 to Jul 2026. 87% of the gas went to a processing plant in the last 12 months. Flaring peaked at 53.4% of the gas in Feb 2026.Share of the lease’s gas by disposition code, per month0%50%100%Flared 53.4%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
87% of the gas went to a processing plant in the last 12 monthsShare of BAXTER gas by disposition code each month, Aug 2023 to Jul 2026. 87% of the gas went to a processing plant in the last 12 months. Flaring peaked at 53.4% of the gas in Feb 2026.Share of gas by disposition code0%50%100%Flared 53.4%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 53723, district 08. Reported through Jul 2026.

Processing plant (3)

Sent to a gas plant that pulls out natural gas liquids. Your statement should show plant products, and may show processing fees.

Flared (4)

Burned off or vented, not sold. It pays no royalty. More than 3% in a month is worth watching.

Over the last 12 months, 13.0% of the gas was flared. 13 months went above 3%, which we mark in the ledger below.

Operator history

Who has run this lease

The operator runs the wells and pays your royalty. When the operator changes, payments often slip for a month or two.

SM Energy Company has reported this lease for the whole period

No change of operator in the months we hold.

Operators of this lease over timeSM Energy Company, Jan 2020 to Jun 20262020202120222023202420252026SM Energy CompanyJan 2020 to nowthrough Jul 2026
Operators of this lease over timeSM Energy Company, Jan 2020 to Jun 20262020202120222023202420252026SM Energy CompanyJan 2020 to nowthrough Jul 2026

SourceTexas Railroad Commission Production Data Query, operator by month. Reported through Jul 2026.

Wells

1 well on this lease

Every well the Railroad Commission links to oil lease 53723 in district 08. The API number is the state’s ID for a well.
Wells on BAXTER
API numberWell no.Status
42-227-402452544WAActive

SourceTexas Railroad Commission Wellbore Query, district 08, lease 53723.

Who buys and gathers

Who moves and buys this lease's production

The operator files a Form P-4 with the Railroad Commission naming the companies authorised to gather and buy the oil and gas. The buyer's price is the one your royalty is figured on.

  • Oil

    Energy Transfer Company gathers it.

    100% of it, on the list since Feb 1, 2025

  • Gas from oil wells

    Energy Transfer Company buys and gathers it; Et Gathering & Processing LLC buys it.

    Energy Transfer Company buys it: 50% of it, on the list since Mar 1, 2026 · Et Gathering & Processing LLC buys it: 50% of it, on the list since Mar 1, 2026 · Energy Transfer Company gathers it: 100% of it, on the list since Feb 1, 2025

Companies that used to be listed: Etc Gas Processing, LLC (buys it, until Mar 1, 2026); Wtg Gas Processing, L.p. (gathers it, until Feb 1, 2025); Wtg Gas Processing, L.p. (buys it, until Feb 1, 2025); Nustar Permian Trans and Stg,llc (gathers it, until Feb 1, 2025).

SourceRailroad Commission of Texas, Form P-4 file, dated Sep 24, 2026 (source). A listed company is authorised to move or buy the production; the state does not say what it paid.

Who buys my oil and gasIs my oil price fair?

Unit and wells

644.25 acres on the newest permit

Acres and wells as the operator filed them on its Railroad Commission drilling permits. Your decimal is your net acres over the unit acres, so this is the number to hold your division order against.
Wells on the permits
11 not plugged
Horizontal
1
First completion
Jan 17, 2020
Latest permit
Jun 28, 2019

A pooling certificate was filed

Your tract may share its production with neighbours in a pooled unit. The unit acres the operator uses to divide production can differ from the acreage on one permit.

Wells and acres on the permits for Baxter
API numberWell no.Acreson the permit
42-227-402452544WA644.25

SourceRailroad Commission of Texas, drilling permits and wellbore file, Sep 26, 2026 (source 1, source 2). The acres are what the operator filed; they are not a survey.

Check my decimal against the unit

What the operator reported

What SM Energy Company told investors it received

SM Energy Company is linked to SM Energy Company (SM). Public companies report the average price they realize each quarter. It is an average across everything the company operates, not the price on this lease.
Realized prices reported by SM Energy Company
QuarterOil$ per bblFiling
Q2 2026$96.85SEC filing
Q1 2026$73.69SEC filing
Q4 2025$58.17SEC filing
Q3 2025–SEC filing
Q2 2025$62.04SEC filing
Q1 2025$70.56SEC filing

SourceSM Energy Company quarterly reports on SEC EDGAR, prices before hedging where the company states both. Read by machine from each filing’s tables; the link opens the filing so you can check the figure.

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Estimator

Estimate your royalty for this lease

A rough check before you look at a statement: the state volumes times your decimal, priced at WTI and Henry Hub.

Estimator

What could your check be?

Your decimal interest is the small number on your division order that says what share of the whole lease (8/8ths) is yours. Type it in and we apply it to what the state says BAXTER sold each month.

For example 0.00097656, or a fraction like 1/1024.

Dollars per barrel. Your statements show the gap your operator uses. Leave 0 to price oil at WTI.

Your estimate appears here

Enter your decimal to see an estimated royalty for each of the last 12 months this lease reported. Nothing you type leaves your browser.

An estimate, not your check

It ignores gathering and processing fees, taxes, plant products and the price your operator actually gets, so your statement will differ. Use it as a ceiling to compare against. Regional gas prices are often below Henry Hub.

Ledger

36 months, newest first

Compare these numbers with your statements. Your share of a month is the “Oil sold” volume times your decimal. Scroll sideways on a phone.
Monthly production, disposition and prices for BAXTER
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3Flaredmcf, code 4WTI$ per bblHenry Hub$ per MMBtu
Jul 2026No report–––––$80.46$2.89
Jun 2026SM Energy9709691561515$84.81$3.15
May 2026SM Energy81776891910$102.13$2.94
Apr 2026SM Energy575619517520$100.32$2.77
Mar 2026SM Energy525518614640$91.38$3.04
Feb 2026SM Energy111157262122140$64.51$3.62
Jan 2026SM Energy683669765818$60.04$7.72
Dec 2025SM Energy1,0141,0622062060$57.97$4.26
Nov 2025SM Energy1,3951,33034429252$60.06$3.79
Oct 2025SM Energy30631737334$60.89$3.19
Sep 2025SM Energy4594411111110$63.96$2.97
Aug 2025SM Energy1902131341304$64.86$2.91
Jul 2025SM Energy2233003813801$68.39$3.20
Jun 2025SM Energy1,8311,8712,9522,9520$68.17$3.02
May 2025SM Energy2,2172,1583,7903,7900$62.17$3.12
Apr 2025SM Energy1,4671,3897457450$63.54$3.42
Mar 2025SM Energy5245071271270$68.24$4.12
Feb 2025SM Energy0165000$71.53$4.19
Jan 2025SM Energy1,7321,8425,0125,0120$75.74$4.13
Dec 2024SM Energy2,3252,2967,0517,0510$70.12$3.01
Nov 2024SM Energy1,3111,2064,0104,0100$69.95$2.12
Oct 2024SM Energy2,0041,9815,1735,1730$71.99$2.20
Sep 2024SM Energy2,0902,1315,9525,9520$70.24$2.28
Aug 2024SM Energy2,2852,2345,7245,095629$76.68$1.99
Jul 2024SM Energy2,0031,9585,8035,685118$81.80$2.07
Jun 2024SM Energy2,3972,3977,1316,989142$79.77$2.54
May 2024SM Energy2,2662,2913,9193,775144$80.02$2.12
Apr 2024SM Energy2,1282,05414011921$85.35$1.60
Mar 2024SM Energy203386990$81.28$1.49
Feb 2024SM Energy1,8841,9696,6206,455165$77.25$1.72
Jan 2024SM Energy2,0421,8846,7215,733988$74.15$3.18
Dec 2023SM Energy2,4872,4688,9748,710264$71.90$2.52
Nov 2023SM Energy2,4852,4588,8856,8032,082$77.69$2.71
Oct 2023SM Energy2,5112,56110,60910,6090$85.64$2.98
Sep 2023SM Energy2,6122,67610,65210,117535$89.43$2.64
Aug 2023SM Energy2,6782,62710,04710,0470$81.39$2.58

No report filed More than 3% of gas flared

SourceVolumes: Texas Railroad Commission Production Data Query, reported through Jul 2026. Prices: EIA WTI Cushing spot and Henry Hub spot, monthly, through Aug 2026. “Gas sold” is gas sent to a transmission line (code 2) or a plant (code 3).

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Around this lease

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Everything on this page connects to the operator, field and county records. Start from any of them.

This lease belongs to

OperatorSM Energy CompanyFieldSpraberry (Trend Area)CountyHoward County

SM Energy Company in Howard County

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Spraberry (Trend Area) field

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Leases within 10 km

Found by the location of their wells.

Drilling permits within 10 km

How to read this page

Questions owners ask

What is a decimal interest?

It is your share of the whole lease, written as a decimal. A 1/4 royalty on 5 net acres in a 1,280-acre unit is 1/4 × 5 ÷ 1,280 = 0.00097656. Your division order states yours.

How do I use this page to check a royalty check?

Take the “Oil sold” volume for the month the check covers and multiply it by your decimal. The answer should match the barrels on your statement. If it does not, upload the statement and we will show where the two differ.

Why is the newest month Jun 2026?

The Railroad Commission publishes production two to three months after the fact and revises recent months. We re-pull the latest three months on every update.

Does this page show what my check should be?

No. It shows what the state recorded. Prices, fees and taxes depend on your lease and on what your operator gets for the oil and gas. The estimator gives a ceiling to compare against.

Sources and method

Where these numbers come from

  • Production and disposition by month: Texas Railroad Commission Production Data Query, oil lease 53723, district 08, reported through Jul 2026.
  • Wells: Texas Railroad Commission Wellbore Query.
  • Prices: U.S. Energy Information Administration, WTI Cushing spot and Henry Hub spot, monthly.
  • Page updated Sep 28, 2026.

We show the state’s numbers as filed. Where the state has no report for a month, we say so instead of guessing.