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Texas oil lease

Producing

BLAZE M2

Blaze M2 is an oil lease in Upton County, Texas, operated by Cog Operating LLC in the Pegasus (Consolidated) field.

1 well

80,339bbl oil, last 12 months−51% vs prior year
Operator
Cog Operating LLC
County
Upton County
Field
Pegasus (Consolidated)
RRC lease
7C-22451

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Where it sits

This county

Upton CountyUptonMidlandCraneGlasscockReaganEctorUpton County
Upton County
Gas, last 12 months
252,496 mcf
Oil in Jul 2026
5,091 bbl

Production by month

Oil output fell 51% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 51% over the last 12 monthsMonthly oil production and gas for BLAZE M2, Jul 2024 to Jul 2026. Oil output fell 51% over the last 12 months. 80,339 bbl in the 12 months through Jul 2026, against 163,846 bbl in the 12 months before.Last 12 months: 80,339 bblbbl per monthmcf per month005,00010k10k20k15k30k20k40k25k50kJul 24OctJan 25AprJulOctJan 26AprJul
Oil output fell 51% over the last 12 monthsMonthly oil production and gas for BLAZE M2, Jul 2024 to Jul 2026. Oil output fell 51% over the last 12 months. 80,339 bbl in the 12 months through Jul 2026, against 163,846 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month005,00010k10k20k15k30k20k40k25k50kJul 24Jan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

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

Flaring peaked at 3.7% of the gas in Nov 2024.

  • Processing plant (3)
  • Flared (4)
All of the gas went to a processing plant in the last 12 monthsShare of BLAZE M2 gas by disposition code each month, Jul 2024 to Jul 2026. All of the gas went to a processing plant in the last 12 months. Flaring peaked at 3.7% of the gas in Nov 2024.Share of the lease’s gas by disposition code, per month0%50%100%Flared 3.7%Jul 24OctJan 25AprJulOctJan 26AprJul
All of the gas went to a processing plant in the last 12 monthsShare of BLAZE M2 gas by disposition code each month, Jul 2024 to Jul 2026. All of the gas went to a processing plant in the last 12 months. Flaring peaked at 3.7% of the gas in Nov 2024.Share of gas by disposition code0%50%100%Flared 3.7%Jul 24Jan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Processing plant (3)

    100% · 252,468 mcf

  • Flared (4)

    0.0% · 28 mcf

1 well on this lease

Wells on BLAZE M2
API numberWell no.Status
42-461-42409501LHActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Et Gathering & Processing LLCOilGathers100Feb 1, 2025–
Targa Pl Mid-Cont Westtex LLCCasinghead gasBuys100Dec 12, 2023–
Targa Pl Mid-Cont Westtex LLCCasinghead gasGathers100Dec 12, 2023–
Nustar Permian Trans and Stg,llcOilGathers100Dec 12, 2023Feb 1, 2025

SourceRailroad Commission Form P-4 file, Sep 24, 2026 (source).

Who buys my oilOil price check

2,603.20 acres on the newest permit

An allocation well is on this lease

Permits for Blaze M2
API numberWell no.Acreson the permit
42-461-42409501LH2,603.20

SourceRailroad Commission drilling permits, Sep 26, 2026 (source 1, source 2).

Unit decimal checker

What ConocoPhillips told investors it received

Cog Operating LLC is linked to ConocoPhillips (COP).
Realized prices reported by ConocoPhillips
QuarterOil$ per bblFiling
Q2 2026$99.40SEC filing
Q1 2026$73.47SEC filing
Q3 2025$66.13SEC filing
Q2 2025$64.23SEC filing
Q1 2025$71.65SEC filing
Q3 2024$76.77SEC filing

SourceConocoPhillips quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

25 months, newest first

Ledger for BLAZE M2
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20265,0915,09422,85522,8550$80.46$2.89
Jun 20265,0565,05722,25422,22628$84.81$3.15
May 20265,5725,57422,01422,0140$102.13$2.94
Apr 20265,5705,56721,35621,3560$100.32$2.77
Mar 20266,1646,15621,08721,0870$91.38$3.04
Feb 20265,4975,50616,89716,8970$64.51$3.62
Jan 20267,0036,99918,83818,8380$60.04$7.72
Dec 20257,1737,16617,91417,9140$57.97$4.26
Nov 20256,9827,01220,51720,5170$60.06$3.79
Oct 20258,4648,44622,85622,8560$60.89$3.19
Sep 20258,6058,61222,26822,2680$63.96$2.97
Aug 20259,1629,16923,64023,6400$64.86$2.91
Jul 20258,8378,83624,30224,3020$68.39$3.20
Jun 20259,7979,76923,65123,6510$68.17$3.02
May 202511,53011,53424,89624,8960$62.17$3.12
Apr 202511,58711,60522,81022,8100$63.54$3.42
Mar 202513,42413,42623,20123,2010$68.24$4.12
Feb 20259,6289,67323,26423,2640$71.53$4.19
Jan 202517,70717,68126,42626,38838$75.74$4.13
Dec 202414,55214,54222,92922,9290$70.12$3.01
Nov 202415,45315,45022,85622,003853$69.95$2.12
Oct 202415,62815,61921,34221,27072$71.99$2.20
Sep 202416,25516,28920,79920,7990$70.24$2.28
Aug 202419,44819,40325,96025,9600$76.68$1.99
Jul 202421,02020,9743,6053,6050$81.80$2.07

Flared above 3%

SourceTexas Railroad Commission Production Data Query, through Jul 2026. Prices: EIA, through Aug 2026. Updated Sep 28, 2026.

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Nearby

This lease belongs to

OperatorCog Operating LLCFieldPegasus (Consolidated)CountyUpton County

Cog Operating LLC in Upton County

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Pegasus (Consolidated) field

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