Skip to content
Royalty Clerk

Texas oil lease

Producing

KEYSTONE

Keystone is an oil lease in Midland County, Texas, operated by Cog Operating LLC in the Spraberry (Trend Area) field.

9 wells

121,664bbl oil, last 12 months−11% vs prior year
Operator
Cog Operating LLC
County
Midland County
Field
Spraberry (Trend Area)
RRC lease
08-45515

Is your check right?

Check my statement

Where it sits

This county

Midland CountyMidlandMartinAndrewsGlasscockHowardEctorMidland County
Midland County
Gas, last 12 months
645,943 mcf
Oil in Jul 2026
9,712 bbl

Production by month

Oil output fell 11% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 11% over the last 12 monthsMonthly oil production and gas for KEYSTONE, Aug 2023 to Jul 2026. Oil output fell 11% over the last 12 months. 121,664 bbl in the 12 months through Jul 2026, against 137,235 bbl in the 12 months before.Last 12 months: 121,664 bblbbl per monthmcf per month005,00020k10k40k15k60k20k80kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 11% over the last 12 monthsMonthly oil production and gas for KEYSTONE, Aug 2023 to Jul 2026. Oil output fell 11% over the last 12 months. 121,664 bbl in the 12 months through Jul 2026, against 137,235 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month005,00020k10k40k15k60k20k80kJan 24JulJan 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

All of the gas went to a processing plant in the last 12 monthsShare of KEYSTONE gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to a processing plant in the last 12 months.Share of the lease’s gas by disposition code, per month0%50%100%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
All of the gas went to a processing plant in the last 12 monthsShare of KEYSTONE gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to a processing plant in the last 12 months.Share of gas by disposition code0%50%100%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

9 wells on this lease

Wells on KEYSTONE
API numberWell no.Status
42-329-390421003LSActive
42-329-395781004LSActive
42-329-395801004MSActive
42-329-413711006HActive
42-329-413731005HActive
42-329-413741007HActive
42-329-415131008HActive
42-329-415141009HActive
42-329-415151010HActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Beta Crude Connector, LLCOilGathers100Apr 1, 2026–
Oneok Midland Midstream, LLCCasinghead gasBuys100Apr 1, 2026–
Enlink Permian, LLCCasinghead gasGathers100Apr 1, 2026–
Enlink Midstream Services, LLCCasinghead gasGathers100Aug 1, 2022Apr 1, 2026
Coronado Midstream LLCCasinghead gasBuys100Aug 1, 2022Apr 1, 2026
Bml, Inc. BOilGathers10Aug 1, 2022Apr 1, 2026
Enterprise Crude Oil LLCOilGathers10Aug 1, 2022Apr 1, 2026
Plains Marketing, L.p.OilGathers40Aug 1, 2022Apr 1, 2026
Plains Pipeline L.p.OilGathers40Aug 1, 2022Apr 1, 2026

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

Who buys my oilOil price check

1,293.60 acres on the newest permit

9 wells are listed on this lease

Permits for Keystone
API numberWell no.Acreson the permit
42-329-415141009H1,293.60
42-329-415151010H1,293.60
42-329-415131008H1,293.60
42-329-413741007H1,293.60
42-329-413711006H1,293.60
42-329-413731005H1,293.60
42-329-395781004LS1,293.60
42-329-395801004MS1,293.60
42-329-390421003LS1,293.60

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

36 months, newest first

Ledger for KEYSTONE
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20269,7129,75027,97627,9760$80.46$2.89
Jun 20269,7499,78258,05258,0520$84.81$3.15
May 202610,67010,68258,40258,4020$102.13$2.94
Apr 20269,7959,80760,03260,0320$100.32$2.77
Mar 20269,7129,74660,06560,0650$91.38$3.04
Feb 202610,0259,90551,65351,6530$64.51$3.62
Jan 20268,0928,12144,22244,2220$60.04$7.72
Dec 20259,8199,79857,86357,8630$57.97$4.26
Nov 202511,31811,31058,86158,8610$60.06$3.79
Oct 202510,39110,39660,27660,2760$60.89$3.19
Sep 202511,29511,22362,17762,1770$63.96$2.97
Aug 202511,08611,13746,36446,3640$64.86$2.91
Jul 20259,4649,79124,58224,5820$68.39$3.20
Jun 202512,37812,07750,39250,3920$68.17$3.02
May 202510,52210,54559,65059,6500$62.17$3.12
Apr 202512,92112,88451,74251,7420$63.54$3.42
Mar 202513,26213,31543,96143,9610$68.24$4.12
Feb 202510,35510,28636,39636,3960$71.53$4.19
Jan 202511,02011,01137,14437,1440$75.74$4.13
Dec 202412,10712,12543,72443,7240$70.12$3.01
Nov 202411,09111,07835,94335,9430$69.95$2.12
Oct 202411,95012,00439,01339,0130$71.99$2.20
Sep 202411,46011,40736,69736,6970$70.24$2.28
Aug 202410,70510,70434,75034,7500$76.68$1.99
Jul 202413,76813,73442,21842,2180$81.80$2.07
Jun 20249,5859,56629,75629,7560$79.77$2.54
May 202413,14313,24537,96637,9660$80.02$2.12
Apr 202412,94612,95047,91847,9180$85.35$1.60
Mar 202414,94514,92555,57355,5730$81.28$1.49
Feb 202415,36515,34639,53739,5370$77.25$1.72
Jan 202413,52813,61538,74338,7430$74.15$3.18
Dec 202314,93415,01439,81439,8140$71.90$2.52
Nov 202314,02613,84338,29038,2900$77.69$2.71
Oct 202313,65013,70736,69136,6910$85.64$2.98
Sep 202313,41913,41931,31631,3160$89.43$2.64
Aug 202312,17012,10934,00834,0080$81.39$2.58

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

How to check your stub against this lease

Do your checks match this lease?

Check my statement

Nearby

This lease belongs to

OperatorCog Operating LLCFieldSpraberry (Trend Area)CountyMidland County

Cog Operating LLC in Midland County

All Cog Operating LLC leases →

Spraberry (Trend Area) field

All leases in this field →

Leases within 10 km

Drilling permits within 10 km