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Texas oil lease

Producing

NEAL RANCH "45"

Neal Ranch "45" is an oil lease in Upton County, Texas, operated by Cog Operating LLC in the Spraberry (Trend Area) field.

6 wells

13,877bbl oil, last 12 months−4% vs prior year
Operator
Cog Operating LLC
County
Upton County
Field
Spraberry (Trend Area)
RRC lease
7C-17515

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Where it sits

This county

Upton CountyUptonMidlandCraneGlasscockReaganEctorUpton County
Upton County
Gas, last 12 months
14,281 mcf
Oil in Jul 2026
755 bbl

Production by month

Oil output fell 4% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 4% over the last 12 monthsMonthly oil production and gas for NEAL RANCH "45", Aug 2023 to Jul 2026. Oil output fell 4% over the last 12 months. 13,877 bbl in the 12 months through Jul 2026, against 14,467 bbl in the 12 months before.Last 12 months: 13,877 bblbbl per monthmcf per month005005001,0001,0001,5001,5002,0002,0002,5002,500Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 4% over the last 12 monthsMonthly oil production and gas for NEAL RANCH "45", Aug 2023 to Jul 2026. Oil output fell 4% over the last 12 months. 13,877 bbl in the 12 months through Jul 2026, against 14,467 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month005005001,0001,0001,5001,5002,0002,0002,5002,500Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Since Dec 2024 the lease's gas goes to a processing plant instead of lease fuel

Flaring peaked at 5.1% of the gas in Nov 2025.

  • Processing plant (3)
  • Lease fuel (1)
  • Flared (4)
Since Dec 2024 the lease's gas goes to a processing plant instead of lease fuelShare of NEAL RANCH "45" gas by disposition code each month, Aug 2023 to Jul 2026. Since Dec 2024 the lease's gas goes to a processing plant instead of lease fuel. Flaring peaked at 5.1% of the gas in Nov 2025.Share of the lease’s gas by disposition code, per month0%50%100%Dec 2024: fuel to plantFlared 5.1%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Dec 2024 the lease's gas goes to a processing plant instead of lease fuelShare of NEAL RANCH "45" gas by disposition code each month, Aug 2023 to Jul 2026. Since Dec 2024 the lease's gas goes to a processing plant instead of lease fuel. Flaring peaked at 5.1% of the gas in Nov 2025.Share of gas by disposition code0%50%100%Dec 24: fuel to plantFlared 5.1%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Processing plant (3)

    94% · 13,374 mcf

  • Lease fuel (1)

    5.8% · 835 mcf

  • Flared (4)

    0.5% · 72 mcf

0.5% of the gas flared in the last 12 months. 2 months above 3%.

6 wells on this lease

Wells on NEAL RANCH "45"
API numberWell no.Status
42-461-371437Active
42-461-371822Active
42-461-372663Active
42-461-3782111Active
42-461-3789914Active
42-461-3791515Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Enlink Crude Marketing, LLCOilGathers100May 1, 2017
Targa Pl Mid-Cont Westtex LLCCasinghead gasBuys100May 1, 2017
Targa Pl Mid-Cont Westtex LLCCasinghead gasGathers100May 1, 2017

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

Who buys my oilOil price check

239.60 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 239.6 and 320 acres. Use the acres from your own division order for the well you are paid on.

  • Worth asking

    A substandard-acreage flag is in the permit records

    The RRC permit records include a substandard-acreage flag. Ask which acreage applies to your well and how it was used in your decimal.

Check your decimal on this lease
Permits for Neal Ranch "45"
API numberWell no.Acreson the permit
42-461-3789914239.60
42-461-3791515239.60
42-461-3782111239.60
42-461-372663319.60
42-461-371822320
42-461-371437319.60

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 "45"
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20267557581,1101,0390$80.46$2.89
Jun 20267167819398700$84.81$3.15
May 20261,0258911,1921,1210$102.13$2.94
Apr 20261,0591,0301,2511,1820$100.32$2.77
Mar 20261,2671,4751,3181,2470$91.38$3.04
Feb 20261,2701,3111,3391,2770$64.51$3.62
Jan 20261,2111,0091,2571,1860$60.04$7.72
Dec 20251,4651,4621,5061,4350$57.97$4.26
Nov 20251,7641,7971,4251,28472$60.06$3.79
Oct 20259331,0148167450$60.89$3.19
Sep 20259528769158460$63.96$2.97
Aug 20251,4601,4911,2131,1420$64.86$2.91
Jul 20251,4151,4271,2111,1400$68.39$3.20
Jun 20251,7991,9251,8761,73968$68.17$3.02
May 20251,8631,4671,6091,5380$62.17$3.12
Apr 20251,1111,4181,0479780$63.54$3.42
Mar 20251,6041,6201,3351,2640$68.24$4.12
Feb 20251,2181,4449578950$71.53$4.19
Jan 20251,4371,2441,0329610$75.74$4.13
Dec 20241,0491,1375004290$70.12$3.01
Nov 2024485184133640$69.95$2.12
Oct 2024105203170990$71.99$2.20
Sep 20241,0951,0611,7491,6800$70.24$2.28
Aug 20241,2861,3332,3092,2380$76.68$1.99
Jul 20241,4991,9412,2772,2060$81.80$2.07
Jun 20241,4451,0072,1782,1090$79.77$2.54
May 20241,3781,422000$80.02$2.12
Apr 20241,0321,0881,6531,5840$85.35$1.60
Mar 20241,2501,1861,9781,9070$81.28$1.49
Feb 20241,1281,1261,8981,8310$77.25$1.72
Jan 20241,6341,5562,0912,0200$74.15$3.18
Dec 20231,4651,5791,8411,8090$71.90$2.52
Nov 20231,8642,0582,1712,1710$77.69$2.71
Oct 20232,3392,1502,1932,1930$85.64$2.98
Sep 20238868361,3891,3890$89.43$2.64
Aug 20237197062,2852,2850$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)CountyUpton County

Cog Operating LLC in Upton County

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Spraberry (Trend Area) field

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