Texas oil lease · RRC district 08 · Lease 07985

Shut in

BELL-LEPP

Name: BELL-LEPP monthly oil and gas production, Loving County, Texas
Creator: Texas Railroad Commission

Bell-Lepp is an oil lease in Loving County, Texas, operated by M2 Squared Operating, LLC in the Wheat field.

Oil lease dossier · 3 wells

0bbl oil, last 12 months

Operator: M2 Squared Operating, LLC
County: Loving County
Field: Wheat
RRC lease: 08-07985

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Where it sits

This county

Loving County · RRC district 08Open Loving County →

Oil in Jul 2026: 0 bbl
Reporting to the state: since Jan 2020
Wells: 3
Data through: Jul 2026

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).

No production to chart

The state shows zero oil and zero gas for all 36 months we hold (Aug 2023 to Jul 2026). A lease that is shut in or newly reported looks like this. The ledger below lists each month.

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.

No gas disposition reported for this lease

The operator has not reported where the gas went in the months we hold.

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.

The operator changed once, most recently in Jun 2020

If your statements skip or shrink around a change, ask the new operator's owner relations department whether the month is in suspense.

M2 Squared Operating, LLC Jun 2020 to now
Schlachter Operating Corporation Jan 2020 to May 2020

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

Wells

3 wells on this lease

Every well the Railroad Commission links to oil lease 07985 in district 08. The API number is the state’s ID for a well.

Wells on BELL-LEPP
API number	Well no.	Status	Total depthft
42-301-00180	1	Active	–
42-301-00733	4	Shut-in	–
42-301-00735	6	Shut-in	–

SourceTexas Railroad Commission Wellbore Query, district 08, lease 07985.

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
Bml, Inc. B, Ace Gathering, Inc. and Energy Transfer Marketing & Term gather it.
Bml, Inc. B gathers it: 34% of it, on the list since Nov 1, 2020 · Ace Gathering, Inc. gathers it: 33% of it, on the list since Nov 1, 2020 · Energy Transfer Marketing & Term gathers it: 33% of it, on the list since Dec 1, 2022

Companies that used to be listed: Sunoco Ptnrs. Mktg.&terminals LP (gathers it, until Dec 1, 2022); Sunoco Ptnrs. Mktg.&terminals LP (gathers it, until Nov 1, 2020); Dcp Operating Company, LP (gathers it, until Jun 19, 2020); Dcp Operating Company, LP (buys it, until Jun 19, 2020); Eastex Crude Company (gathers it, until Jun 19, 2020).

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 gas Is my oil price fair?

Unit and wells

What the drilling permits say

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: 76 not plugged
Horizontal: 0
First completion: May 23, 1931
Latest permit: –

7 wells are listed on this lease

Each well can have its own unit. The decimal for one well does not have to equal the decimal for another.

Wells and acres on the permits for Bell-Lepp
API number	Well no.	Permit issued	Completed	Acreson the permit	Type
42-301-00180	1	–	May 23, 1931	–	–
42-301-00731	2	–	Jan 12, 1984	–	–
42-301-00732	3	–	Jan 12, 1984	–	–
42-301-00733	4	–	Apr 24, 1962	–	–
42-301-00734	5	–	Jan 12, 1984	–	–
42-301-00735	6	–	Jan 4, 1965	–	–
42-301-00736	7	–	Jan 12, 1984	–	–

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.

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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 BELL-LEPP sold each month.

Your decimal interest

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

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.

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 BELL-LEPP
Month	Operator	WTI$ per bbl	Henry Hub$ per MMBtu
Jul 2026M2 Squared	M2 Squared Operating, LLC	$80.46	$2.89
Jun 2026M2 Squared	M2 Squared Operating, LLC	$84.81	$3.15
May 2026M2 Squared	M2 Squared Operating, LLC	$102.13	$2.94
Apr 2026M2 Squared	M2 Squared Operating, LLC	$100.32	$2.77
Mar 2026M2 Squared	M2 Squared Operating, LLC	$91.38	$3.04
Feb 2026M2 Squared	M2 Squared Operating, LLC	$64.51	$3.62
Jan 2026M2 Squared	M2 Squared Operating, LLC	$60.04	$7.72
Dec 2025M2 Squared	M2 Squared Operating, LLC	$57.97	$4.26
Nov 2025M2 Squared	M2 Squared Operating, LLC	$60.06	$3.79
Oct 2025M2 Squared	M2 Squared Operating, LLC	$60.89	$3.19
Sep 2025M2 Squared	M2 Squared Operating, LLC	$63.96	$2.97
Aug 2025M2 Squared	M2 Squared Operating, LLC	$64.86	$2.91
Jul 2025M2 Squared	M2 Squared Operating, LLC	$68.39	$3.20
Jun 2025M2 Squared	M2 Squared Operating, LLC	$68.17	$3.02
May 2025M2 Squared	M2 Squared Operating, LLC	$62.17	$3.12
Apr 2025M2 Squared	M2 Squared Operating, LLC	$63.54	$3.42
Mar 2025M2 Squared	M2 Squared Operating, LLC	$68.24	$4.12
Feb 2025M2 Squared	M2 Squared Operating, LLC	$71.53	$4.19
Jan 2025M2 Squared	M2 Squared Operating, LLC	$75.74	$4.13
Dec 2024M2 Squared	M2 Squared Operating, LLC	$70.12	$3.01
Nov 2024M2 Squared	M2 Squared Operating, LLC	$69.95	$2.12
Oct 2024M2 Squared	M2 Squared Operating, LLC	$71.99	$2.20
Sep 2024M2 Squared	M2 Squared Operating, LLC	$70.24	$2.28
Aug 2024M2 Squared	M2 Squared Operating, LLC	$76.68	$1.99
Jul 2024M2 Squared	M2 Squared Operating, LLC	$81.80	$2.07
Jun 2024M2 Squared	M2 Squared Operating, LLC	$79.77	$2.54
May 2024M2 Squared	M2 Squared Operating, LLC	$80.02	$2.12
Apr 2024M2 Squared	M2 Squared Operating, LLC	$85.35	$1.60
Mar 2024M2 Squared	M2 Squared Operating, LLC	$81.28	$1.49
Feb 2024M2 Squared	M2 Squared Operating, LLC	$77.25	$1.72
Jan 2024M2 Squared	M2 Squared Operating, LLC	$74.15	$3.18
Dec 2023M2 Squared	M2 Squared Operating, LLC	$71.90	$2.52
Nov 2023M2 Squared	M2 Squared Operating, LLC	$77.69	$2.71
Oct 2023M2 Squared	M2 Squared Operating, LLC	$85.64	$2.98
Sep 2023M2 Squared	M2 Squared Operating, LLC	$89.43	$2.64
Aug 2023M2 Squared	M2 Squared Operating, LLC	$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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A month that was never paid
Your share of the barrels and mcf
The price against WTI and Henry Hub
Fees taken on gas
Late payment interest

Around this lease

Walk the neighborhood

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

This lease belongs to

OperatorM2 Squared Operating, LLC FieldWheat CountyLoving County

M2 Squared Operating, LLC in Loving County

WHEAT, J. J. -E-
44 bbl last 12 months
ALLEN, J. G.
24 bbl last 12 months

All M2 Squared Operating, LLC leases →

Wheat field

WHEAT, J. J. -A-
611 bbl last 12 months
WHEAT, J. J. -E-
44 bbl last 12 months

All leases in this field →

Leases within 10 km

Found by the location of their wells.

BARNETT 90-TTT-B01 WF
63,761 bbl last 12 months · 0.3 km away
NEXUS 23
0 bbl last 12 months · 0.5 km away
DICK JAY 92-TTT-B01 WF
26,679 bbl last 12 months · 0.9 km away
DICK JAY 92-TTT-B01 WF
1,548 bbl last 12 months · 0.9 km away
BARNETT 90-TTT-B01 WF SA
3,762 bbl last 12 months · 1 km away

Drilling permits within 10 km

WHITE OAK 53-2 E #4553H
new drill · horizontal · Pdeh LLC · Loving County · 5.3 km away
Permit 0918846 · Sep 25, 2026
WHITE OAK 53-2 I #4543H
new drill · horizontal · Pdeh LLC · Loving County · 5.2 km away
Permit 0918849 · Sep 25, 2026
WHITE OAK 53-2 G #4541H
new drill · horizontal · Pdeh LLC · Loving County · 5 km away
Permit 0918836 · Sep 24, 2026
WHITE OAK 53-2 J #4544H
new drill · horizontal · Pdeh LLC · Loving County · 5.3 km away
Permit 0918844 · Sep 24, 2026
WHITE OAK 53-2 H #4542H
new drill · horizontal · Pdeh LLC · Loving County · 5 km away
Permit 0918838 · Sep 24, 2026

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 Jul 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 07985, 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.