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Royalty Clerk

Texas oil lease · RRC district 08 · Lease 49735

Producing

COBRA STATE 2

Cobra State 2 is an oil lease in Reeves County, Texas, operated by VTX Energy Operating, LLC in the Wolfbone (Trend Area) field. The Railroad Commission shows 6,764 bbl of oil in the 12 months through Jul 2026.

Oil lease dossier · 1 well

6,764bbl oil, last 12 months−32% vs prior year
Operator
VTX Energy Operating, LLC
County
Reeves County
Field
Wolfbone (Trend Area)
RRC lease
08-49735

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Where it sits

This county

Reeves CountyReevesWinklerWardLovingReeves County
Reeves County · RRC district 08Open Reeves County →
Gas, last 12 months
35,197 mcf
Oil in Jul 2026
597 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 32% over the last 12 months

6,764 bbl in the 12 months through Jul 2026, against 9,974 bbl in the 12 months before.

  • Oil (bars, left axis)
  • Gas (line, right axis)
  • Last 12 months
Oil output fell 32% over the last 12 monthsMonthly oil production and gas for COBRA STATE 2, Aug 2023 to Jul 2026. Oil output fell 32% over the last 12 months. 6,764 bbl in the 12 months through Jul 2026, against 9,974 bbl in the 12 months before.Last 12 months: 6,764 bblbbl per monthmcf per month002501,0005002,0007503,0001,0004,0001,2505,000Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 32% over the last 12 monthsMonthly oil production and gas for COBRA STATE 2, Aug 2023 to Jul 2026. Oil output fell 32% over the last 12 months. 6,764 bbl in the 12 months through Jul 2026, against 9,974 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month002501,0005002,0007503,0001,0004,0001,2505,000Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, oil lease 49735, 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.

98% of the gas went to a processing plant in the last 12 months

Flaring peaked at 31.0% of the gas in Apr 2025.

  • Processing plant (3)
  • Lease fuel (1)
  • Flared (4)
98% of the gas went to a processing plant in the last 12 monthsShare of COBRA STATE 2 gas by disposition code each month, Aug 2023 to Jul 2026. 98% of the gas went to a processing plant in the last 12 months. Flaring peaked at 31.0% of the gas in Apr 2025.Share of the lease’s gas by disposition code, per month0%50%100%Flared 31.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
98% of the gas went to a processing plant in the last 12 monthsShare of COBRA STATE 2 gas by disposition code each month, Aug 2023 to Jul 2026. 98% of the gas went to a processing plant in the last 12 months. Flaring peaked at 31.0% of the gas in Apr 2025.Share of gas by disposition code0%50%100%Flared 31.0%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 49735, 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.

Lease fuel (1)

Burned to run equipment on the lease. Not sold, so it pays no royalty. A few percent is normal.

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, 1.7% of the gas was flared. 5 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.

The operator changed once, most recently in Sep 2023

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

Operators of this lease over timePri Operating, LLC, Jan 2020 to Aug 2023; VTX Energy Operating, LLC, Sep 2023 to Jul 20262020202120222023202420252026Changed Sep 2023Pri Operating, LLCJan 2020 to Aug 2023VTX Energy Operating, LLCSep 2023 to now
Operators of this lease over timePri Operating, LLC, Jan 2020 to Aug 2023; VTX Energy Operating, LLC, Sep 2023 to Jul 20262020202120222023202420252026Changed Sep 2023Pri Operating, LLCJan 2020 to Aug 2023VTX Energy Operating, LLCSep 2023 to now

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 49735 in district 08. The API number is the state’s ID for a well.
Wells on COBRA STATE 2
API numberWell no.Status
42-389-362591HActive

SourceTexas Railroad Commission Wellbore Query, district 08, lease 49735.

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

    Oryx Delaware Oil Transport LLC and Plains Marketing, L.p. gather it.

    Oryx Delaware Oil Transport LLC gathers it: 50% of it, on the list since Jan 1, 2020 · Plains Marketing, L.p. gathers it: 50% of it, on the list since Oct 1, 2023

  • Gas from oil wells

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

    Et Gathering & Processing LLC buys it: 100% of it, on the list since Oct 1, 2023 · Energy Transfer Company gathers it: 100% of it, on the list since Nov 12, 2017

Companies that used to be listed: Etc Texas P/L, LTD (buys it, until Oct 1, 2023); United Energy Trading LLC (gathers it, until Oct 1, 2023); Oryx So. Delaware Ogt LLC (gathers it, until Jan 1, 2020); Energy Transfer Company (buys it, until Aug 1, 2019); Shell Trading (Us) Company (gathers it, until Aug 1, 2019).

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

323.83 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
Nov 12, 2017
Latest permit
Aug 16, 2017
Wells and acres on the permits for Cobra State 2
API numberWell no.Acreson the permit
42-389-362591H323.83

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

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 COBRA STATE 2 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 COBRA STATE 2
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3Flaredmcf, code 4WTI$ per bblHenry Hub$ per MMBtu
Jul 2026VTX Energy5975992,6842,66519$80.46$2.89
Jun 2026VTX Energy4804783,3063,26541$84.81$3.15
May 2026VTX Energy5175223,5043,5031$102.13$2.94
Apr 2026VTX Energy7847783,5313,5301$100.32$2.77
Mar 2026VTX Energy5835792,3602,155205$91.38$3.04
Feb 2026VTX Energy4484531,8701,650220$64.51$3.62
Jan 2026VTX Energy7817733,2843,171113$60.04$7.72
Dec 2025VTX Energy4004022,0212,0210$57.97$4.26
Nov 2025VTX Energy5085132,9442,9440$60.06$3.79
Oct 2025VTX Energy5665623,4873,4861$60.89$3.19
Sep 2025VTX Energy5665623,0043,0040$63.96$2.97
Aug 2025VTX Energy5345433,2023,2020$64.86$2.91
Jul 2025VTX Energy5625593,2603,2600$68.39$3.20
Jun 2025VTX Energy5915933,2473,2470$68.17$3.02
May 2025VTX Energy6206193,6343,61321$62.17$3.12
Apr 2025VTX Energy7137173,6492,5171,132$63.54$3.42
Mar 2025VTX Energy9619654,6854,464221$68.24$4.12
Feb 2025VTX Energy1,0151,0124,1464,1460$71.53$4.19
Jan 2025VTX Energy9859824,1474,1443$75.74$4.13
Dec 2024VTX Energy1,0621,0614,5444,5440$70.12$3.01
Nov 2024VTX Energy1,0101,0104,2764,2697$69.95$2.12
Oct 2024VTX Energy8748683,1283,11117$71.99$2.20
Sep 2024VTX Energy5285352,1182,1180$70.24$2.28
Aug 2024VTX Energy1,0531,0473,5813,5810$76.68$1.99
Jul 2024VTX Energy7897901,9021,9002$81.80$2.07
Jun 2024VTX Energy8478411,8901,8900$79.77$2.54
May 2024VTX Energy4184199189171$80.02$2.12
Apr 2024VTX Energy5725741,6211,6210$85.35$1.60
Mar 2024VTX Energy5675662,9232,9194$81.28$1.49
Feb 2024VTX Energy4584581,7241,7159$77.25$1.72
Jan 2024VTX Energy6586561,9351,8658$74.15$3.18
Dec 2023VTX Energy6306302,3412,26217$71.90$2.52
Nov 2023VTX Energy4064041,6401,55523$77.69$2.71
Oct 2023VTX Energy3113111,1971,12411$85.64$2.98
Sep 2023VTX Energy3613611,7781,70511$89.43$2.64
Aug 2023Pri Operating,2983011,0459758$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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Upload your statements for COBRA STATE 2. We compare volumes, prices, deductions and timing with the state record and give you the exact question to ask VTX Energy Operating, LLC.

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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

OperatorVTX Energy Operating, LLCFieldWolfbone (Trend Area)CountyReeves County

VTX Energy Operating, LLC in Reeves County

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Wolfbone (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 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 49735, 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.

FAQ

Questions about COBRA STATE 2

Who operates the COBRA STATE 2 lease?

The Railroad Commission lists VTX Energy Operating, LLC (operator number 101377) as the operator of this lease in Reeves County, Texas. The operator history on this page shows earlier operators and when the record changed.

How much has the COBRA STATE 2 lease produced?

The lease reported 6,764 bbl of oil and 35,197 mcf of gas in the last 12 months through Jul 2026. Monthly figures for 36 months are in the ledger on this page, taken from the Railroad Commission's production data.

Does this page show who owns the royalty?

No. Railroad Commission records show who operates a lease and what it reported, not who owns the minerals or receives royalty. Your division order and royalty stub name the lease and your decimal interest.

How do I check my royalty stub against this lease?

Multiply the lease's volume for a month by your decimal interest and compare it with the barrels and mcf on your stub for the same month. The two are seldom identical, since sales and reporting months can differ, but a large gap is worth a question to the operator.

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