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Texas oil lease

Producing

GRAVES STATE

Graves State is an oil lease in Reeves County, Texas, operated by Permian Resources Operating, LLC in the Wolfbone (Trend Area) field.

18 wells

509,763bbl oil, last 12 months+4% vs prior year
Operator
Permian Resources Operating, LLC
County
Reeves County
Field
Wolfbone (Trend Area)
RRC lease
08-40374

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Where it sits

This county

Reeves CountyReevesWinklerWardLovingReeves County
Reeves County
Gas, last 12 months
1,305,551 mcf
Oil in Jul 2026
26,554 bbl

Production by month

Oil output rose 4% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output rose 4% over the last 12 monthsMonthly oil production and gas for GRAVES STATE, Aug 2023 to Jul 2026. Oil output rose 4% over the last 12 months. 509,763 bbl in the 12 months through Jul 2026, against 492,150 bbl in the 12 months before.Last 12 months: 509,763 bblbbl per monthmcf per month0025k50k50k100k75k150k100k200kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output rose 4% over the last 12 monthsMonthly oil production and gas for GRAVES STATE, Aug 2023 to Jul 2026. Oil output rose 4% over the last 12 months. 509,763 bbl in the 12 months through Jul 2026, against 492,150 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month0025k50k50k100k75k150k100k200kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Since Nov 2025 the lease's gas goes to a transmission line instead of a processing plant

Flaring peaked at 14.6% of the gas in Feb 2025.

  • Processing plant (3)
  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
Since Nov 2025 the lease's gas goes to a transmission line instead of a processing plantShare of GRAVES STATE gas by disposition code each month, Aug 2023 to Jul 2026. Since Nov 2025 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 14.6% of the gas in Feb 2025.Share of the lease’s gas by disposition code, per month0%50%100%Nov 2025: plant to lineFlared 14.6%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Nov 2025 the lease's gas goes to a transmission line instead of a processing plantShare of GRAVES STATE gas by disposition code each month, Aug 2023 to Jul 2026. Since Nov 2025 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 14.6% of the gas in Feb 2025.Share of gas by disposition code0%50%100%Nov 25: plant to lineFlared 14.6%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    68% · 892,798 mcf

  • Processing plant (3)

    23% · 302,355 mcf

  • Flared (4)

    7.3% · 95,525 mcf

  • Lease fuel (1)

    1.1% · 14,873 mcf

7.3% of the gas flared in the last 12 months. 19 months above 3%.

Who has run this lease

The operator changed once, most recently in Nov 2024

Operators of this lease over timeOXY USA WTP LP, Jan 2020 to Oct 2024; Permian Resources Operating, LLC, Nov 2024 to Jul 20262020202120222023202420252026Changed Nov 2024OXY USA WTP LPJan 2020 to Oct 2024Permian Resources Operating,…Nov 2024 to now
Operators of this lease over timeOXY USA WTP LP, Jan 2020 to Oct 2024; Permian Resources Operating, LLC, Nov 2024 to Jul 20262020202120222023202420252026Changed Nov 2024OXY USA WTP LPJan 2020 to Oct 2024Permian Resources Operating, LLCNov 2024 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

18 wells on this lease

Wells on GRAVES STATE
API numberWell no.Status
42-389-105401Shut-in
42-389-326197Shut-in
42-389-326382Shut-in
42-389-3263910Shut-in
42-389-326418Shut-in
42-389-327604Active
42-389-327613Shut-in
42-389-327759Active
42-389-327935Active
42-389-3458711HActive
42-389-3844482NHActive
42-389-3844612HRActive
42-389-3844783HRActive
42-389-3845113HRActive
42-389-3845284NHActive
42-389-41417332HActive
42-389-41418333HActive
42-389-41420334HActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Kinetik Holdings LPOilGathers90Mar 31, 2026–
Enterprise Crude Oil LLCOilGathers10Mar 31, 2026–
Enterprise Products Operating LLCCasinghead gasBuys50Mar 31, 2026–
Kinetik Holdings LPCasinghead gasBuys50Mar 31, 2026–
Kinetik Holdings LPCasinghead gasGathers100Mar 31, 2026–
Oxy USA Wtp LPCasinghead gasGathers100Nov 28, 2019Mar 31, 2026
Energy Transfer CompanyCasinghead gasBuys50Nov 28, 2019Mar 31, 2026
Vaquero Permian Processing LLCCasinghead gasBuys50Nov 28, 2019Mar 31, 2026
Pilot Travel Centers LLCOilGathers20Nov 28, 2019Mar 31, 2026
Plains Pipeline L.p.OilGathers80Nov 28, 2019Mar 31, 2026
Energy Transfer CompanyCasinghead gasGathers100Nov 1, 2015Nov 28, 2019

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

Who buys my oilOil price check

1,278.71 acres on the newest permit

The wells on this lease state different acreage

The permits state between 639.12 and 1,278.72 acres.

18 wells are listed on this lease

Permits for Graves State
API numberWell no.Acreson the permit
42-389-41417332H1,278.71
42-389-41418333H1,278.71
42-389-41420334H1,278.71
42-389-3844482NH1,278.71
42-389-3844612HR1,278.71
42-389-3844783HR1,278.71
42-389-3845113HR1,278.71
42-389-3845284NH1,278.71
42-389-3458711H1,278.71
42-389-327935639.59
42-389-327759639.12
42-389-327604639.59

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

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What Permian Resources Corporation told investors it received

Permian Resources Operating, LLC is linked to Permian Resources Corporation (PR).
Realized prices reported by Permian Resources Corporation
QuarterOil$ per bblFiling
Q2 2026$97.81SEC filing
Q1 2026$70.91SEC filing
Q4 2025$58.78SEC filing
Q3 2025$64.77SEC filing
Q2 2025$62.71SEC filing
Q1 2025$70.48SEC filing

SourcePermian Resources Corporation quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for GRAVES STATE
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Permian Resources26,55426,40449,08548,231624$80.46$2.89
Jun 2026Permian Resources26,98726,98763,01860,8731,390$84.81$3.15
May 2026Permian Resources32,61332,746100,51189,8487,112$102.13$2.94
Apr 2026Permian Resources32,68934,42285,50676,6455,286$100.32$2.77
Mar 2026Permian Resources36,97535,513135,461113,64718,428$91.38$3.04
Feb 2026Permian Resources37,54637,345142,694122,14619,161$64.51$3.62
Jan 2026Permian Resources44,27344,289137,640123,70812,898$60.04$7.72
Dec 2025Permian Resources45,40845,393139,021136,3212,691$57.97$4.26
Nov 2025Permian Resources50,28950,261132,209121,37910,656$60.06$3.79
Oct 2025Permian Resources56,94157,084112,251100,21811,749$60.89$3.19
Sep 2025Permian Resources56,59056,680102,17798,0983,809$63.96$2.97
Aug 2025Permian Resources62,89863,304105,978104,0391,721$64.86$2.91
Jul 2025Permian Resources71,72671,438113,257108,0994,901$68.39$3.20
Jun 2025Permian Resources64,17364,44295,69989,6376,012$68.17$3.02
May 2025Permian Resources62,36362,29583,05577,5015,166$62.17$3.12
Apr 2025Permian Resources69,68369,59491,27578,55112,153$63.54$3.42
Mar 2025Permian Resources93,25592,758123,826109,87913,246$68.24$4.12
Feb 2025Permian Resources75,64475,45365,94151,8379,611$71.53$4.19
Jan 2025Permian Resources1286639056410$75.74$4.13
Dec 2024Permian Resources11,41911,45222,09320,308109$70.12$3.01
Nov 2024Permian Resources12,05511,44953,88452,0111,672$69.95$2.12
Oct 2024OXY USA10,80810,99433,90332,2291,674$71.99$2.20
Sep 2024OXY USA11,05611,64943,74837,7715,977$70.24$2.28
Aug 2024OXY USA9,8409,28128,55028,3020$76.68$1.99
Jul 2024OXY USA12,63012,77638,25935,9211,322$81.80$2.07
Jun 2024OXY USA12,49812,71435,99334,9470$79.77$2.54
May 2024OXY USA12,84212,40047,44546,3940$80.02$2.12
Apr 2024OXY USA13,89213,97847,23944,1092,084$85.35$1.60
Mar 2024OXY USA14,55314,62145,52044,3460$81.28$1.49
Feb 2024OXY USA14,03113,67337,20735,110982$77.25$1.72
Jan 2024OXY USA13,39813,77049,45348,4940$74.15$3.18
Dec 2023OXY USA14,53114,39340,97740,0120$71.90$2.52
Nov 2023OXY USA13,39013,47644,57243,5750$77.69$2.71
Oct 2023OXY USA14,20814,12950,26549,1390$85.64$2.98
Sep 2023OXY USA16,99616,94549,25148,22823$89.43$2.64
Aug 2023OXY USA13,41613,27350,70449,7140$81.39$2.58

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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This lease belongs to

OperatorPermian Resources Operating, LLCFieldWolfbone (Trend Area)CountyReeves County

Permian Resources Operating, LLC in Reeves County

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Wolfbone (Trend Area) field

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