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Texas oil lease

Producing

OTTER 139-138 UNIT W

Otter 139-138 Unit W is an oil lease in Reeves County, Texas, operated by Crescent Energy Operating, LLC in the Hoefs T-K (Wolfcamp) field.

5 wells

40,534bbl oil, last 12 months−31% vs prior year
Operator
Crescent Energy Operating, LLC
County
Reeves County
Field
Hoefs T-K (Wolfcamp)
RRC lease
08-54615

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Where it sits

This county

Reeves CountyReevesWinklerWardLovingReeves County
Reeves County
Gas, last 12 months
372,200 mcf
Oil in Jun 2026
2,091 bbl

Checks stopped on this lease?

  • Operator

    Operator changed: Crescent Energy Operating, LLC took over from Vital Energy, Inc. in Jan 2026.

SourceRailroad Commission production, P-5 and P-4 records, data through Jul 2026.

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Production by month

Oil output fell 31% over the last 12 months

Jul 2026 was not reported.

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 31% over the last 12 monthsMonthly oil production and gas for OTTER 139-138 UNIT W, Aug 2023 to Jul 2026. Oil output fell 31% over the last 12 months. 36,000 bbl in the 12 months through Jul 2026, against 52,495 bbl in the 12 months before.Last 12 months: 36,000 bblbbl per monthmcf per month005,00020k10k40k15k60k20k80kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 31% over the last 12 monthsMonthly oil production and gas for OTTER 139-138 UNIT W, Aug 2023 to Jul 2026. Oil output fell 31% over the last 12 months. 36,000 bbl in the 12 months through Jul 2026, against 52,495 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

Since Nov 2023 the lease's gas goes to a transmission line instead of a processing plant

Flaring peaked at 42.1% of the gas in Jun 2025.

  • Processing plant (3)
  • Transmission line (2)
  • Flared (4)
Since Nov 2023 the lease's gas goes to a transmission line instead of a processing plantShare of OTTER 139-138 UNIT W gas by disposition code each month, Aug 2023 to Jul 2026. Since Nov 2023 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 42.1% of the gas in Jun 2025.Share of the lease’s gas by disposition code, per month0%50%100%Nov 2023: plant to lineFlared 42.1%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Nov 2023 the lease's gas goes to a transmission line instead of a processing plantShare of OTTER 139-138 UNIT W gas by disposition code each month, Aug 2023 to Jul 2026. Since Nov 2023 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 42.1% of the gas in Jun 2025.Share of gas by disposition code0%50%100%Nov 23: plant to lineFlared 42.1%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    85% · 317,897 mcf

  • Flared (4)

    15% · 54,303 mcf

14.6% of the gas flared in the last 12 months. 33 months above 3%.

Who has run this lease

The operator changed 2 times, most recently in Jan 2026

Operators of this lease over timeTall City Operations III LLC, Mar 2021 to Jun 2023; Vital Energy, Inc., Jul 2023 to Dec 2025; Crescent Energy Operating, LLC, Jan 2026 to Jun 202620222023202420252026Changed Jul 2023Changed Jan 2026Tall City Operations III LLCMar 2021 to Jun 2023Vital Energy, Inc.Jul 2023 to Dec 2025Crescent Energy Operating, LLCJan 2026 to now
Operators of this lease over timeTall City Operations III LLC, Mar 2021 to Jun 2023; Vital Energy, Inc., Jul 2023 to Dec 2025; Crescent Energy Operating, LLC, Jan 2026 to Jun 202620222023202420252026Changed Jul 2023Changed Jan 2026Tall City Operations III LLCMar 2021 to Jun 2023Vital Energy, Inc.Jul 2023 to Dec 2025Crescent Energy Operating, LLCJan 2026 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

5 wells on this lease

Wells on OTTER 139-138 UNIT W
API numberWell no.Status
42-389-3895719HActive
42-389-396412HShut-in
42-389-396421HShut-in
42-389-396443HShut-in
42-389-3964521HActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Noble Energy INCOilGathers50Jul 1, 2023–
Rio Energy International, Inc.OilGathers50Jul 1, 2023–
Energy Transfer CompanyCasinghead gasBuys100Feb 1, 2023–
Noble Energy INCCasinghead gasGathers100Dec 1, 2022–
Bml, Inc. BOilGathers5Mar 2, 2023Jul 1, 2023
Dk Trading & Supply, LLCOilGathers5Feb 1, 2023Jul 1, 2023
Energy Trans Crude Marketing LLCOilGathers5Feb 1, 2023Jul 1, 2023
Gunvor USA LLCOilGathers5Feb 1, 2023Jul 1, 2023
Noble Energy INCOilGathers80Mar 2, 2023Jul 1, 2023
Noble Energy INCOilGathers85Feb 1, 2023Mar 2, 2023

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

Who buys my oilOil price check

640 acres on the newest permit

Check your decimal on this lease
Permits for Otter 139-138 Unit W
API numberWell no.Acreson the permit
42-389-396443H640
42-389-3964521H640
42-389-396421H640
42-389-396412H640
42-389-3895719H640

SourceRailroad Commission drilling permits, Oct 3, 2026 (source 1, source 2).

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What Crescent Energy Company told investors it received

Crescent Energy Operating, LLC is linked to Crescent Energy Company (CRGY).
Realized prices reported by Crescent Energy Company
QuarterOil$ per bblFiling
Q1 2026$71.00SEC filing
Q4 2025$62.21SEC filing
Q3 2025$63.07SEC filing
Q2 2025$61.47SEC filing
Q1 2025$67.64SEC filing
Q4 2024$67.51SEC filing

SourceCrescent Energy Company quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for OTTER 139-138 UNIT W
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026No report–––––$80.46$2.89
Jun 2026Crescent Energy2,0912,06925,41418,3247,090$84.81$3.15
May 2026Crescent Energy2,1592,16625,83322,8352,998$102.13$2.94
Apr 2026Crescent Energy2,8442,85027,68125,5262,155$100.32$2.77
Mar 2026Crescent Energy3,0553,04927,74326,0551,688$91.38$3.04
Feb 2026Crescent Energy2,9682,95725,68520,6954,990$64.51$3.62
Jan 2026Crescent Energy2,6742,64924,43417,3657,069$60.04$7.72
Dec 2025Vital Energy,3,5373,54833,25931,3751,884$57.97$4.26
Nov 2025Vital Energy,3,8943,92537,12434,6442,480$60.06$3.79
Oct 2025Vital Energy,4,1374,14839,77336,3683,405$60.89$3.19
Sep 2025Vital Energy,4,2924,24939,69230,1349,558$63.96$2.97
Aug 2025Vital Energy,4,3494,33530,58626,7023,884$64.86$2.91
Jul 2025Vital Energy,4,5344,65634,97627,8747,102$68.39$3.20
Jun 2025Vital Energy,3,9603,90325,32214,67010,652$68.17$3.02
May 2025Vital Energy,2,7112,64318,35815,9582,400$62.17$3.12
Apr 2025Vital Energy,2,6992,78923,57117,6715,900$63.54$3.42
Mar 2025Vital Energy,3,3533,36013,93412,7341,200$68.24$4.12
Feb 2025Vital Energy,2,7612,84314,35113,503848$71.53$4.19
Jan 2025Vital Energy,4,1814,15725,05423,6311,423$75.74$4.13
Dec 2024Vital Energy,4,7054,79926,94026,433507$70.12$3.01
Nov 2024Vital Energy,5,1265,11124,31823,2331,085$69.95$2.12
Oct 2024Vital Energy,5,6245,74816,49712,6143,883$71.99$2.20
Sep 2024Vital Energy,6,4756,48616,34315,541802$70.24$2.28
Aug 2024Vital Energy,6,3666,32418,17817,478700$76.68$1.99
Jul 2024Vital Energy,5,2565,19221,32319,4381,885$81.80$2.07
Jun 2024Vital Energy,5,5005,46814,84513,8111,034$79.77$2.54
May 2024Vital Energy,7,2777,18814,98612,3262,660$80.02$2.12
Apr 2024Vital Energy,6,3446,58619,90018,4331,467$85.35$1.60
Mar 2024Vital Energy,16,37616,31556,64855,943705$81.28$1.49
Feb 2024Vital Energy,9,5179,55241,39338,6322,761$77.25$1.72
Jan 2024Vital Energy,18,71118,60868,95559,4159,540$74.15$3.18
Dec 2023Vital Energy,11,96812,00645,65342,2493,404$71.90$2.52
Nov 2023Vital Energy,12,92212,92243,36838,9094,459$77.69$2.71
Oct 2023Vital Energy,15,00814,87055,40353,5141,889$85.64$2.98
Sep 2023Vital Energy,13,67113,81355,70753,2602,447$89.43$2.64
Aug 2023Vital Energy,18,52018,46273,57563,8759,700$81.39$2.58

No report filed 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

OperatorCrescent Energy Operating, LLCFieldHoefs T-K (Wolfcamp)CountyReeves County

Crescent Energy Operating, LLC in Reeves County

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Hoefs T-K (Wolfcamp) field

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