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Texas oil lease

Producing

NEAL RANCH 43 P2

Neal Ranch 43 P2 is an oil lease in Upton County, Texas, operated by Cog Operating LLC in the Spraberry (Trend Area) field.

1 well

32,450bbl oil, last 12 months−15% vs prior year
Operator
Cog Operating LLC
County
Upton County
Field
Spraberry (Trend Area)
RRC lease
7C-21366

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Where it sits

This county

Upton CountyUptonMidlandCraneGlasscockReaganEctorUpton County
Upton County
Gas, last 12 months
82,884 mcf
Oil in Jul 2026
2,498 bbl

Production by month

Oil output fell 15% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 15% over the last 12 monthsMonthly oil production and gas for NEAL RANCH 43 P2, Aug 2023 to Jul 2026. Oil output fell 15% over the last 12 months. 32,450 bbl in the 12 months through Jul 2026, against 38,329 bbl in the 12 months before.Last 12 months: 32,450 bblbbl per monthmcf per month001,0005,0002,00010k3,00015k4,00020k5,00025kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 15% over the last 12 monthsMonthly oil production and gas for NEAL RANCH 43 P2, Aug 2023 to Jul 2026. Oil output fell 15% over the last 12 months. 32,450 bbl in the 12 months through Jul 2026, against 38,329 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001,0005,0002,00010k3,00015k4,00020k5,00025kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

93% of the gas went to a processing plant in the last 12 months

  • Processing plant (3)
  • Lease fuel (1)
  • Flared (4)
93% of the gas went to a processing plant in the last 12 monthsShare of NEAL RANCH 43 P2 gas by disposition code each month, Aug 2023 to Jul 2026. 93% 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
93% of the gas went to a processing plant in the last 12 monthsShare of NEAL RANCH 43 P2 gas by disposition code each month, Aug 2023 to Jul 2026. 93% 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.

  • Processing plant (3)

    93% · 77,395 mcf

  • Lease fuel (1)

    6.4% · 5,327 mcf

  • Flared (4)

    0.2% · 162 mcf

0.2% of the gas flared in the last 12 months. No month above 3%.

1 well on this lease

Wells on NEAL RANCH 43 P2
API numberWell no.Status
42-461-415824321AHActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Enlink Crude Marketing, LLCOilGathers100Jan 22, 2021
Dcp Operating Company, LPCasinghead gasBuys100Jan 22, 2021
Dcp Operating Company, LPCasinghead gasGathers100Jan 22, 2021

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

Who buys my oilOil price check

1,141.88 acres on the newest permit

  • 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 Neal Ranch 43 P2
API numberWell no.Acreson the permit
42-461-415824321AH1,141.88

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 NEAL RANCH 43 P2
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20262,4982,5168,2757,8230$80.46$2.89
Jun 20262,5842,5787,5257,1030$84.81$3.15
May 20262,7412,7437,7387,2870$102.13$2.94
Apr 20262,6142,6076,9746,5550$100.32$2.77
Mar 20263,0273,0618,9338,3490$91.38$3.04
Feb 20262,7872,7726,7956,15791$64.51$3.62
Jan 20262,6182,6137,6416,98371$60.04$7.72
Dec 20253,0243,0297,2496,7790$57.97$4.26
Nov 20252,6892,6825,5225,1630$60.06$3.79
Oct 20252,9923,0005,6715,3120$60.89$3.19
Sep 20252,8642,8375,6065,2420$63.96$2.97
Aug 20252,0122,0204,9554,6420$64.86$2.91
Jul 20252,9382,9408,6488,1890$68.39$3.20
Jun 20253,0103,0239,3688,8530$68.17$3.02
May 20253,1583,1798,4167,9520$62.17$3.12
Apr 20253,2743,2628,5758,1670$63.54$3.42
Mar 20253,4013,3757,7317,4090$68.24$4.12
Feb 20252,9222,9278,4638,1360$71.53$4.19
Jan 20253,3243,32611,95611,4960$75.74$4.13
Dec 20242,8202,8249,0588,7230$70.12$3.01
Nov 20243,2953,3079,5139,1970$69.95$2.12
Oct 20243,4173,4239,9089,46399$71.99$2.20
Sep 20243,5273,49810,1649,8240$70.24$2.28
Aug 20243,2433,26414,33913,8360$76.68$1.99
Jul 20243,5283,5269,6229,2610$81.80$2.07
Jun 20243,1393,15010,1509,7850$79.77$2.54
May 20243,7773,7523,8303,6980$80.02$2.12
Apr 20243,7303,7419,0538,7210$85.35$1.60
Mar 20244,0604,0297,3527,0670$81.28$1.49
Feb 20243,8733,8845,4305,2130$77.25$1.72
Jan 20242,6662,6793,4343,2920$74.15$3.18
Dec 20234,7864,7999,6649,3580$71.90$2.52
Nov 20234,8764,90913,11612,7190$77.69$2.71
Oct 20234,6494,5909,9259,6030$85.64$2.98
Sep 20233,8003,8064,9404,7620$89.43$2.64
Aug 20234,0794,0849,9429,6380$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

OperatorCog Operating LLCFieldSpraberry (Trend Area)CountyUpton County

Cog Operating LLC in Upton County

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Spraberry (Trend Area) field

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