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Texas oil lease

Producing

COWDEN "48"

Cowden "48" is an oil lease in Crane County, Texas, operated by R3 Operating Corporation in the Roepke (Upper Devonian) field.

2 wells

2,771bbl oil, last 12 months−29% vs prior year
Operator
R3 Operating Corporation
County
Crane County
Field
Roepke (Upper Devonian)
RRC lease
08-37640

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Where it sits

This county

Crane CountyCraneUptonMidlandWinklerWardEctorCrane County
Crane County
Oil in Jul 2026
193 bbl
Reporting since
Jan 2020

Checks stopped on this lease?

  • Operator

    Operator changed: R3 Operating Corporation took over from T2 Operating Corporation in Aug 2025.

  • P-5

    The previous operator's P-5 registration is listed as inactive since May 30, 2026 (last P-5 filed May 27, 2025).

SourceRailroad Commission production, P-5 and P-4 records, data through Jul 2026.

See why checks stop on this lease

Production by month

Oil output fell 29% over the last 12 months

  • Oil (bars)
  • Last 12 months
Oil output fell 29% over the last 12 monthsMonthly oil production for COWDEN "48", Aug 2023 to Jul 2026. Oil output fell 29% over the last 12 months. 2,771 bbl in the 12 months through Jul 2026, against 3,914 bbl in the 12 months before.Last 12 months: 2,771 bblbbl per month0200400600800Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 29% over the last 12 monthsMonthly oil production for COWDEN "48", Aug 2023 to Jul 2026. Oil output fell 29% over the last 12 months. 2,771 bbl in the 12 months through Jul 2026, against 3,914 bbl in the 12 months before.Last 12 monthsbbl per month0200400600800Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

No gas disposition reported for this lease

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

Who has run this lease

The operator changed 2 times, most recently in Aug 2025

Operators of this lease over timeBoaz Energy II Operating, LLC, Jan 2020 to Mar 2025; T2 Operating Corporation, Apr 2025 to Jul 2025; R3 Operating Corporation, Aug 2025 to Jul 20262020202120222023202420252026Changed Apr 2025Changed Aug 2025Boaz Energy II Operating, LLCJan 2020 to Mar 2025T2 Operating CorporationApr 2025 to Jul 2025R3 Operating CorporationAug 2025 to now
Operators of this lease over timeBoaz Energy II Operating, LLC, Jan 2020 to Mar 2025; T2 Operating Corporation, Apr 2025 to Jul 2025; R3 Operating Corporation, Aug 2025 to Jul 20262020202120222023202420252026Changed Apr 2025Changed Aug 2025Boaz Energy II Operating, LLCJan 2020 to Mar 2025T2 Operating CorporationApr 2025 to Jul 2025R3 Operating CorporationAug 2025 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

2 wells on this lease

Wells on COWDEN "48"
API numberWell no.Status
42-103-351481Shut-in
42-103-354272Shut-in

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Enterprise Crude Oil LLCOilGathers100Feb 1, 2018
Targa Midstream Services LLCCasinghead gasBuys100Apr 1, 2025
Targa Midstream Services LLCCasinghead gasGathers100Apr 1, 2025

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

Who buys my oilOil price check

120 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 80 and 120 acres. Use the acres from your own division order for the well you are paid on.

  • Worth asking

    A Rule 37 case is listed

    The RRC permit records list a Rule 37 case. This does not establish your royalty share. Ask for the permit and unit plat for your well.

Check your decimal on this lease
Permits for Cowden "48"
API numberWell no.Acreson the permit
42-103-354272120
42-103-35148180

SourceRailroad Commission drilling permits, Oct 3, 2026 (source 1, source 2).

Unit decimal checker

Estimate your royalty

36 months, newest first

Ledger for COWDEN "48"
MonthOil producedbblOil soldbblWTI$/bblHenry Hub$/MMBtu
Jul 2026R3 Operating193170$80.46$2.89
Jun 2026R3 Operating121168$84.81$3.15
May 2026R3 Operating249362$102.13$2.94
Apr 2026R3 Operating341170$100.32$2.77
Mar 2026R3 Operating255358$91.38$3.04
Feb 2026R3 Operating168175$64.51$3.62
Jan 2026R3 Operating337358$60.04$7.72
Dec 2025R3 Operating183183$57.97$4.26
Nov 2025R3 Operating247172$60.06$3.79
Oct 2025R3 Operating211176$60.89$3.19
Sep 2025R3 Operating237345$63.96$2.97
Aug 2025R3 Operating229182$64.86$2.91
Jul 2025T2 Operating261166$68.39$3.20
Jun 2025T2 Operating234328$68.17$3.02
May 2025T2 Operating276360$62.17$3.12
Apr 2025T2 Operating233178$63.54$3.42
Mar 2025Boaz Energy332356$68.24$4.12
Feb 2025Boaz Energy282350$71.53$4.19
Jan 2025Boaz Energy339177$75.74$4.13
Dec 2024Boaz Energy390513$70.12$3.01
Nov 2024Boaz Energy348337$69.95$2.12
Oct 2024Boaz Energy367336$71.99$2.20
Sep 2024Boaz Energy403327$70.24$2.28
Aug 2024Boaz Energy449504$76.68$1.99
Jul 2024Boaz Energy515677$81.80$2.07
Jun 2024Boaz Energy291165$79.77$2.54
May 2024Boaz Energy940$80.02$2.12
Apr 2024Boaz Energy263342$85.35$1.60
Mar 2024Boaz Energy283338$81.28$1.49
Feb 2024Boaz Energy286178$77.25$1.72
Jan 2024Boaz Energy336357$74.15$3.18
Dec 2023Boaz Energy403361$71.90$2.52
Nov 2023Boaz Energy348375$77.69$2.71
Oct 2023Boaz Energy293348$85.64$2.98
Sep 2023Boaz Energy325351$89.43$2.64
Aug 2023Boaz Energy390361$81.39$2.58

SourceTexas Railroad Commission Production Data Query, through Jul 2026. Prices: EIA, through Aug 2026. Updated Oct 2, 2026.

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Nearby

This lease belongs to

OperatorR3 Operating CorporationFieldRoepke (Upper Devonian)CountyCrane County

R3 Operating Corporation in Crane County

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Roepke (Upper Devonian) field

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