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Texas oil lease

Producing

MUSTANG

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

14 wells

16,722bbl oil, last 12 months−39% vs prior year
Operator
Cog Operating LLC
County
Andrews County
Field
Spraberry (Trend Area)
RRC lease
08-39864

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Where it sits

This county

Andrews CountyAndrewsMartinGainesDawsonAndrews County
Andrews County
Gas, last 12 months
246,274 mcf
Oil in Jul 2026
1,066 bbl

Checks stopped on this lease?

  • Buyer

    Buyer changed: ONEOK MIDLAND MIDSTREAM, LLC, ENTERPRISE PRODUCTS OPERATING LLC replaced CORONADO MIDSTREAM LLC as the buyer of this lease's gas from oil wells on Apr 1, 2026.

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 39% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 39% over the last 12 monthsMonthly oil production and gas for MUSTANG, Aug 2023 to Jul 2026. Oil output fell 39% over the last 12 months. 16,722 bbl in the 12 months through Jul 2026, against 27,251 bbl in the 12 months before.Last 12 months: 16,722 bblbbl per monthmcf per month001,00010k2,00020k3,00030k4,00040k5,00050kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 39% over the last 12 monthsMonthly oil production and gas for MUSTANG, Aug 2023 to Jul 2026. Oil output fell 39% over the last 12 months. 16,722 bbl in the 12 months through Jul 2026, against 27,251 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001,00010k2,00020k3,00030k4,00040k5,00050kJan 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

Flaring peaked at 3.6% of the gas in Sep 2024.

  • Processing plant (3)
  • Flared (4)
All of the gas went to a processing plant in the last 12 monthsShare of MUSTANG 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. Flaring peaked at 3.6% of the gas in Sep 2024.Share of the lease’s gas by disposition code, per month0%50%100%Flared 3.6%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
All of the gas went to a processing plant in the last 12 monthsShare of MUSTANG 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. Flaring peaked at 3.6% of the gas in Sep 2024.Share of gas by disposition code0%50%100%Flared 3.6%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

14 wells on this lease

Wells on MUSTANG
API numberWell no.Status
42-003-410973401Shut-in
42-003-415183501Active
42-003-419433402Active
42-003-421243403Shut-in
42-003-423103404Shut-in
42-003-431973414Active
42-003-439553415Shut-in
42-003-441193412Active
42-003-441403411Shut-in
42-003-441813406Active
42-003-442523405Shut-in
42-003-442563503Active
42-003-442573407Shut-in
42-003-466333416Shut-in

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Energy Transfer CompanyOilGathers100Apr 1, 2025–
Enterprise Products Operating LLCCasinghead gasBuys50Apr 1, 2026–
Oneok Midland Midstream, LLCCasinghead gasBuys50Apr 1, 2026–
Enlink Permian, LLCCasinghead gasGathers50Apr 1, 2026–
Enterprise Products Operating LLCCasinghead gasGathers50Apr 1, 2026–
Enlink Permian, LLCCasinghead gasGathers100Apr 1, 2025Apr 1, 2026
Coronado Midstream LLCCasinghead gasBuys100Jan 1, 2014Apr 1, 2026
Enlink North Texas Gathering, LPCasinghead gasGathers100Jun 1, 2016Apr 1, 2025
Centurion Pipeline L.p.OilGathers100May 1, 2012Apr 1, 2025

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

Who buys my oilOil price check

800 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 640 and 816.25 acres. Use the acres from your own division order for the well you are paid on.

  • Good to know

    14 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.

  • 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 Mustang
API numberWell no.Acreson the permit
42-003-466333416800
42-003-442523405800
42-003-442563503800
42-003-442573407800
42-003-441403411800
42-003-441193412800
42-003-441813406800
42-003-439553415800
42-003-431973414800
42-003-423103404800
42-003-421243403800
42-003-419433402816.25

SourceRailroad Commission drilling permits, Oct 3, 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 MUSTANG
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20261,0661,17016,49016,4900$80.46$2.89
Jun 20261,3811,29318,84918,8490$84.81$3.15
May 202698398221,06021,0600$102.13$2.94
Apr 20261,0791,06721,78721,7870$100.32$2.77
Mar 20261,2481,24022,60922,6090$91.38$3.04
Feb 20261,3421,39018,69218,6920$64.51$3.62
Jan 20261,4551,33219,88619,8860$60.04$7.72
Dec 20251,4241,37420,99720,9970$57.97$4.26
Nov 20251,4721,39920,04420,0440$60.06$3.79
Oct 20251,5981,61722,00822,0080$60.89$3.19
Sep 20251,6941,84421,70621,7060$63.96$2.97
Aug 20251,9801,86322,14622,1460$64.86$2.91
Jul 20251,8541,90121,90721,807100$68.39$3.20
Jun 20252,2242,12920,98120,93150$68.17$3.02
May 20251,1881,22519,21119,2110$62.17$3.12
Apr 20251,3261,48021,13120,931200$63.54$3.42
Mar 20251,3951,43925,08825,0880$68.24$4.12
Feb 20252,0842,10624,33424,3340$71.53$4.19
Jan 20252,3952,28727,32327,3230$75.74$4.13
Dec 20242,9022,91326,54226,342200$70.12$3.01
Nov 20243,2153,10525,06424,673391$69.95$2.12
Oct 20242,6772,54926,60726,392215$71.99$2.20
Sep 20242,7893,05129,58728,5231,064$70.24$2.28
Aug 20243,2023,14031,53931,077462$76.68$1.99
Jul 20243,2203,54927,09027,0900$81.80$2.07
Jun 20243,2643,14922,72522,7250$79.77$2.54
May 20243,6993,52925,77325,7730$80.02$2.12
Apr 20243,4533,36923,91823,9180$85.35$1.60
Mar 20242,9053,24622,00622,0060$81.28$1.49
Feb 20243,2373,14919,56719,5670$77.25$1.72
Jan 20243,7163,72920,49720,4970$74.15$3.18
Dec 20233,8623,73415,18015,1800$71.90$2.52
Nov 20233,0563,02121,29221,2920$77.69$2.71
Oct 20233,8073,98123,56923,5690$85.64$2.98
Sep 20234,1204,11123,17023,1700$89.43$2.64
Aug 20234,4324,16315,89715,8970$81.39$2.58

Flared above 3%

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

OperatorCog Operating LLCFieldSpraberry (Trend Area)CountyAndrews County

Cog Operating LLC in Andrews County

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Spraberry (Trend Area) field

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