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Royalty Clerk

Texas oil lease · RRC district 06 · Lease 15557

Producing

COVINGTON

Covington is an oil lease in Smith County, Texas, operated by Valence Operating Company in the Girlie Caldwell (Goodland LM) field. The Railroad Commission shows 5,474 bbl of oil in the 12 months through Jul 2026.

Oil lease dossier · 1 well

5,474bbl oil, last 12 months+2% vs prior year
Operator
Valence Operating Company
County
Smith County
Field
Girlie Caldwell (Goodland LM)
RRC lease
06-15557

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Where it sits

This county

Smith CountySmithVan ZandtGreggUpshurWoodRuskCampRainsHendersonSmith County
Smith County · RRC district 06Open Smith County →
Gas, last 12 months
4 mcf
Oil in Jul 2026
810 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 held steady over the last 12 months

5,474 bbl in the 12 months through Jul 2026, against 5,362 bbl in the 12 months before.

  • Oil (bars, left axis)
  • Gas (line, right axis)
  • Last 12 months
Oil output held steady over the last 12 monthsMonthly oil production and gas for COVINGTON, Aug 2023 to Jul 2026. Oil output held steady over the last 12 months. 5,474 bbl in the 12 months through Jul 2026, against 5,362 bbl in the 12 months before.Last 12 months: 5,474 bblbbl per monthmcf per month002501050020750301,000401,25050Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output held steady over the last 12 monthsMonthly oil production and gas for COVINGTON, Aug 2023 to Jul 2026. Oil output held steady over the last 12 months. 5,474 bbl in the 12 months through Jul 2026, against 5,362 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month002501050020750301,000401,25050Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, oil lease 15557, district 06. 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.

All of the gas went to flaring in the last 12 months

Flaring peaked at 100.0% of the gas in Aug 2023.

All of the gas went to flaring in the last 12 monthsShare of COVINGTON gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Aug 2023.Share of the lease’s gas by disposition code, per month0%50%100%Flared 100.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
All of the gas went to flaring in the last 12 monthsShare of COVINGTON gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Aug 2023.Share of gas by disposition code0%50%100%Flared 100.0%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 15557, district 06. Reported through Jul 2026.

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, 100.0% of the gas was flared. 16 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.

Valence Operating Company has reported this lease for the whole period

No change of operator in the months we hold.

Operators of this lease over timeValence Operating Company, Jan 2020 to Jul 20262020202120222023202420252026Valence Operating CompanyJan 2020 to nowthrough Jul 2026
Operators of this lease over timeValence Operating Company, Jan 2020 to Jul 20262020202120222023202420252026Valence Operating 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 15557 in district 06. The API number is the state’s ID for a well.
Wells on COVINGTON
API numberWell no.Status
42-423-323991HActive

SourceTexas Railroad Commission Wellbore Query, district 06, lease 15557.

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

    Dk Trading & Supply, LLC and Energy Transfer Marketing & Term gather it.

    Dk Trading & Supply, LLC gathers it: 90% of it, on the list since May 1, 2025 · Energy Transfer Marketing & Term gathers it: 10% of it, on the list since Dec 1, 2022

Companies that used to be listed: Lion Oil Trading & Trans, LLC (gathers it, until May 1, 2025); Sunoco Ptnrs. Mktg.&terminals LP (gathers it, until Dec 1, 2022); Sunoco Ptnrs. Mktg.&terminals LP (gathers it, until Sep 1, 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 gasIs my oil price fair?

Unit and wells

133.22 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
Jun 19, 2017
Latest permit
May 5, 2017
Wells and acres on the permits for Covington
API numberWell no.Acreson the permit
42-423-323991H133.22

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 COVINGTON 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.

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 COVINGTON
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3Flaredmcf, code 4WTI$ per bblHenry Hub$ per MMBtu
Jul 2026Valence Operating810813000$80.46$2.89
Jun 2026Valence Operating1,101992000$84.81$3.15
May 2026Valence Operating1140000$102.13$2.94
Apr 2026Valence Operating256332000$100.32$2.77
Mar 2026Valence Operating401477000$91.38$3.04
Feb 2026Valence Operating333330000$64.51$3.62
Jan 2026Valence Operating380326000$60.04$7.72
Dec 2025Valence Operating235501000$57.97$4.26
Nov 2025Valence Operating538330202$60.06$3.79
Oct 2025Valence Operating374334101$60.89$3.19
Sep 2025Valence Operating487521101$63.96$2.97
Aug 2025Valence Operating445497000$64.86$2.91
Jul 2025Valence Operating475483101$68.39$3.20
Jun 2025Valence Operating580497606$68.17$3.02
May 2025Valence Operating208166101$62.17$3.12
Apr 2025Valence Operating325331202$63.54$3.42
Mar 2025Valence Operating398486202$68.24$4.12
Feb 2025Valence Operating400336606$71.53$4.19
Jan 2025Valence Operating450322303$75.74$4.13
Dec 2024Valence Operating495660000$70.12$3.01
Nov 2024Valence Operating523507000$69.95$2.12
Oct 2024Valence Operating443490000$71.99$2.20
Sep 2024Valence Operating536505000$70.24$2.28
Aug 2024Valence Operating529484000$76.68$1.99
Jul 2024Valence Operating500482000$81.80$2.07
Jun 2024Valence Operating564670000$79.77$2.54
May 2024Valence Operating679671000$80.02$2.12
Apr 2024Valence Operating488336000$85.35$1.60
Mar 2024Valence Operating372499000$81.28$1.49
Feb 2024Valence Operating527499000$77.25$1.72
Jan 2024Valence Operating58065513013$74.15$3.18
Dec 2023Valence Operating62649632032$71.90$2.52
Nov 2023Valence Operating57965219019$77.69$2.71
Oct 2023Valence Operating63147623023$85.64$2.98
Sep 2023Valence Operating63881516016$89.43$2.64
Aug 2023Valence Operating63250010010$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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This lease belongs to

OperatorValence Operating CompanyFieldGirlie Caldwell (Goodland LM)CountySmith County

Valence Operating Company in Smith County

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Girlie Caldwell (Goodland LM) field

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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 15557, district 06, 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.