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Royalty Clerk

Texas oil lease · RRC district 7C · Lease 18787

Producing

MERCHANT

Merchant is an oil lease in Reagan County, Texas, operated by OXY USA WTP LP in the Spraberry (Trend Area) R 40 Exc field. The Railroad Commission shows 102,965 bbl of oil in the 12 months through Jul 2026.

Oil lease dossier · 35 wells

102,965bbl oil, last 12 months−27% vs prior year
Operator
OXY USA WTP LP
County
Reagan County
Field
Spraberry (Trend Area) R 40 Exc
RRC lease
7C-18787

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Where it sits

This county

Reagan CountyReaganIrionSterlingUptonMidlandGlasscockReagan County
Reagan County · RRC district 7COpen Reagan County →
Gas, last 12 months
2,340,547 mcf
Oil in Jul 2026
8,845 bbl
Reporting to the state
since Jan 2020
Wells
35

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 27% over the last 12 months

102,965 bbl in the 12 months through Jul 2026, against 140,378 bbl in the 12 months before.

  • Oil (bars, left axis)
  • Gas (line, right axis)
  • Last 12 months
Oil output fell 27% over the last 12 monthsMonthly oil production and gas for MERCHANT, Aug 2023 to Jul 2026. Oil output fell 27% over the last 12 months. 102,965 bbl in the 12 months through Jul 2026, against 140,378 bbl in the 12 months before.Last 12 months: 102,965 bblbbl per monthmcf per month0010k100k20k200k30k300k40k400k50k500kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 27% over the last 12 monthsMonthly oil production and gas for MERCHANT, Aug 2023 to Jul 2026. Oil output fell 27% over the last 12 months. 102,965 bbl in the 12 months through Jul 2026, against 140,378 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month0010k100k20k200k30k300k40k400k50k500kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, oil lease 18787, district 7C. 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.

96% of the gas went to a processing plant in the last 12 months

Each bar is one month. Colors are the disposition codes the operator reported.

  • Processing plant (3)
  • Transmission line (2)
  • Flared (4)
96% of the gas went to a processing plant in the last 12 monthsShare of MERCHANT gas by disposition code each month, Aug 2023 to Jul 2026. 96% 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
96% of the gas went to a processing plant in the last 12 monthsShare of MERCHANT gas by disposition code each month, Aug 2023 to Jul 2026. 96% 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, gas disposition by code, lease 18787, district 7C. 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.

Transmission line (2)

Sold straight into a pipeline without processing. Processing fees on your statement would be worth asking about.

Flared (4)

Burned off or vented, not sold. It pays no royalty. More than 3% in a month is worth watching.

None of the gas was flared in the last 12 months.

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.

OXY USA WTP LP has reported this lease for the whole period

No change of operator in the months we hold.

Operators of this lease over timeOXY USA WTP LP, Jan 2020 to Jul 20262020202120222023202420252026OXY USA WTP LPJan 2020 to nowthrough Jul 2026
Operators of this lease over timeOXY USA WTP LP, Jan 2020 to Jul 20262020202120222023202420252026OXY USA WTP LPJan 2020 to nowthrough Jul 2026

SourceTexas Railroad Commission Production Data Query, operator by month. Reported through Jul 2026.

Wells

35 wells on this lease

Every well the Railroad Commission links to oil lease 18787 in district 7C. The API number is the state’s ID for a well.
Wells on MERCHANT
API numberWell no.Status
42-383-386291411HBActive
42-383-386301411HAActive
42-383-386762311HDActive
42-383-386771111HBActive
42-383-386841401WDActive
42-383-386852311HCShut-in
42-383-389921401CLActive
42-383-389931401CUActive
42-383-389941401BUActive
42-383-390131401AActive
42-383-390231401BLActive
42-383-390571402BLActive
42-383-390581402CUActive
42-383-390971601BUActive
42-383-391001402CLActive
42-383-393701408BLActive
42-383-393711407BUActive
42-383-393721408AActive
42-383-394421409AActive
42-383-394441409BUActive
42-383-394991404BUActive
42-383-395001404AActive
42-383-395011414BActive
42-383-395021414AActive
42-383-395031406AActive
42-383-395041406BUActive
42-383-395151601WDActive
42-383-395471410BUActive
42-383-395541410AActive
42-383-395561412BAActive
42-383-395571412BUActive
42-383-395581412AActive
42-383-395651416BLActive
42-383-395661416AActive
42-383-414091189CPActive

SourceTexas Railroad Commission Wellbore Query, district 7C, lease 18787.

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

    Bridger Transportation, LLC and Plains Pipeline L.p. gather it.

    Bridger Transportation, LLC gathers it: 50% of it, on the list since Dec 20, 2016 · Plains Pipeline L.p. gathers it: 50% of it, on the list since Dec 20, 2016

  • Gas from oil wells

    Energy Transfer Company buys and gathers it.

    Energy Transfer Company buys it: 100% of it, on the list since Jun 10, 2014 · Energy Transfer Company gathers it: 100% of it, on the list since Jun 10, 2014

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

3,520 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
3533 not plugged
Horizontal
33
First completion
Jun 10, 2014
Latest permit
Jun 9, 2023

The wells on this lease state different acreage

The permits state between 3,520 and 3,843.32 acres. Use the acres from your own division order for the well you are paid on.

35 wells are listed on this lease

Each well can have its own unit. The decimal for one well does not have to equal the decimal for another.

Wells and acres on the permits for Merchant
API numberWell no.Acreson the permit
42-383-414091189CP3,520
42-383-395651416BL3,520
42-383-395661416A3,520
42-383-395561412BA3,520
42-383-395571412BU3,520
42-383-395581412A3,520
42-383-395541410A3,520
42-383-395471410BU3,520
42-383-395151601WD3,520
42-383-394991404BU3,520
42-383-395001404A3,520
42-383-395011414B3,520

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

What the operator reported

What Occidental Petroleum Corporation told investors it received

OXY USA WTP LP is linked to Occidental Petroleum Corporation (OXY). Public companies report the average price they realize each quarter. It is an average across everything the company operates, not the price on this lease.
Realized prices reported by Occidental Petroleum Corporation
QuarterOil$ per bblFiling
Q2 2026$96.78SEC filing
Q1 2026$69.91SEC filing
Q4 2025$58.99SEC filing
Q3 2025$64.78SEC filing
Q2 2025$63.76SEC filing
Q1 2025$71.07SEC filing

SourceOccidental Petroleum Corporation quarterly reports on SEC EDGAR, prices before hedging where the company states both. Read by machine from each filing’s tables; the link opens the filing so you can check the figure.

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Estimator

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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 MERCHANT 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.

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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 MERCHANT
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3Flaredmcf, code 4WTI$ per bblHenry Hub$ per MMBtu
Jul 2026OXY USA8,8458,919205,277205,2770$80.46$2.89
Jun 2026OXY USA8,5408,409245,423245,4230$84.81$3.15
May 2026OXY USA10,0619,908252,067252,0670$102.13$2.94
Apr 2026OXY USA9,1368,905162,809162,8090$100.32$2.77
Mar 2026OXY USA7,6947,467105,421105,4210$91.38$3.04
Feb 2026OXY USA6,7076,831125,467125,4670$64.51$3.62
Jan 2026OXY USA8,6728,882147,866147,8660$60.04$7.72
Dec 2025OXY USA8,8308,844198,747198,7470$57.97$4.26
Nov 2025OXY USA7,9067,697186,042186,0420$60.06$3.79
Oct 2025OXY USA7,8027,850205,959205,9590$60.89$3.19
Sep 2025OXY USA8,0449,101210,187210,082105$63.96$2.97
Aug 2025OXY USA10,72810,410295,282295,2820$64.86$2.91
Jul 2025OXY USA9,7689,727301,419301,4190$68.39$3.20
Jun 2025OXY USA10,18310,209297,497297,4943$68.17$3.02
May 2025OXY USA11,20311,343310,583310,5830$62.17$3.12
Apr 2025OXY USA11,11711,097314,986314,9860$63.54$3.42
Mar 2025OXY USA14,06713,825314,766314,7660$68.24$4.12
Feb 2025OXY USA11,08311,201290,860290,78278$71.53$4.19
Jan 2025OXY USA13,67613,504356,572356,5720$75.74$4.13
Dec 2024OXY USA11,12011,269353,972353,9720$70.12$3.01
Nov 2024OXY USA10,69910,537344,259344,2590$69.95$2.12
Oct 2024OXY USA12,10812,125376,956376,9560$71.99$2.20
Sep 2024OXY USA13,05113,225370,132370,1320$70.24$2.28
Aug 2024OXY USA12,30312,460402,667402,6670$76.68$1.99
Jul 2024OXY USA13,57313,436000$81.80$2.07
Jun 2024OXY USA12,49212,324361,077359,7361,341$79.77$2.54
May 2024OXY USA15,70816,239394,924394,91311$80.02$2.12
Apr 2024OXY USA15,66915,223398,348398,3480$85.35$1.60
Mar 2024OXY USA16,89117,061430,850430,8491$81.28$1.49
Feb 2024OXY USA17,94218,025408,383408,3830$77.25$1.72
Jan 2024OXY USA20,31620,300420,327418,6361,691$74.15$3.18
Dec 2023OXY USA26,35128,447452,651452,63318$71.90$2.52
Nov 2023OXY USA31,51129,400409,013409,00112$77.69$2.71
Oct 2023OXY USA14,67214,281376,144376,1431$85.64$2.98
Sep 2023OXY USA7,5957,543294,920294,249671$89.43$2.64
Aug 2023OXY USA9,1689,102346,346346,3460$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

OperatorOXY USA WTP LPFieldSpraberry (Trend Area) R 40 ExcCountyReagan County

OXY USA WTP LP in Reagan County

All OXY USA WTP LP leases →

Spraberry (Trend Area) R 40 Exc field

All leases in this 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 18787, district 7C, 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.