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Texas oil lease

Producing

PHELAN 2

Phelan 2 is an oil lease in Martin County, Texas, operated by Diamondback E&P LLC in the Spraberry (Trend Area) field.

1 well

2,148bbl oil, last 12 months+9% vs prior year
Operator
Diamondback E&P LLC
County
Martin County
Field
Spraberry (Trend Area)
RRC lease
08-45033

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Where it sits

This county

Martin CountyMartinGainesAndrewsHowardDawsonBordenMartin County
Martin County
Gas, last 12 months
1,486 mcf
Oil in Jul 2026
169 bbl

Checks stopped on this lease?

  • Operator

    Operator changed: Diamondback E&P LLC took over from Endeavor Energy Resources L.P. in Jan 2025.

  • Buyer

    Buyer changed: ET GATHERING & PROCESSING LLC replaced ETC GAS PROCESSING, LLC as the buyer of this lease's gas from oil wells on Mar 1, 2026.

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

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Production by month

Oil output rose 9% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output rose 9% over the last 12 monthsMonthly oil production and gas for PHELAN 2, Aug 2023 to Jul 2026. Oil output rose 9% over the last 12 months. 2,148 bbl in the 12 months through Jul 2026, against 1,976 bbl in the 12 months before.Last 12 months: 2,148 bblbbl per monthmcf per month00100200200400300600400800Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output rose 9% over the last 12 monthsMonthly oil production and gas for PHELAN 2, Aug 2023 to Jul 2026. Oil output rose 9% over the last 12 months. 2,148 bbl in the 12 months through Jul 2026, against 1,976 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month00100200200400300600400800Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

All of the gas went to flaring in the last 12 months

Flaring peaked at 100.0% of the gas in Oct 2024.

  • Processing plant (3)
  • Flared (4)
All of the gas went to flaring in the last 12 monthsShare of PHELAN 2 gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Oct 2024.Share of the lease’s gas by disposition code, per month0%50%100%Flared 100.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
All of the gas went to flaring in the last 12 monthsShare of PHELAN 2 gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Oct 2024.Share of gas by disposition code0%50%100%Flared 100.0%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

100.0% of the gas flared in the last 12 months. 21 months above 3%.

Who has run this lease

The operator changed once, most recently in Jan 2025

Operators of this lease over timeEndeavor Energy Resources L.P., Jan 2020 to Dec 2024; Diamondback E&P LLC, Jan 2025 to Jul 20262020202120222023202420252026Changed Jan 2025Endeavor Energy Resources L.P.Jan 2020 to Dec 2024Diamondback E&P LLCJan 2025 to now
Operators of this lease over timeEndeavor Energy Resources L.P., Jan 2020 to Dec 2024; Diamondback E&P LLC, Jan 2025 to Jul 20262020202120222023202420252026Changed Jan 2025Endeavor Energy Resources L.P.Jan 2020 to Dec 2024Diamondback E&P LLCJan 2025 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

1 well on this lease

Wells on PHELAN 2
API numberWell no.Status
42-317-387781Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Explore Logistics LLCOilGathers100Apr 1, 2025–
Et Gathering & Processing LLCCasinghead gasBuys100Mar 1, 2026–
Energy Transfer CompanyCasinghead gasGathers100Apr 1, 2025–
Etc Gas Processing, LLCCasinghead gasBuys100Apr 1, 2025Mar 1, 2026
Wtg Gas Processing, L.p.Casinghead gasGathers100Jun 1, 2020Apr 1, 2025
Wtg Gas Processing, L.p.Casinghead gasBuys100Jun 1, 2020Apr 1, 2025
Oasis Transp & Marketing Corp.OilGathers100Jun 1, 2020Apr 1, 2025
Enlink Crude Purchasing LLCOilGathers100Nov 1, 2019Jun 1, 2020
Wtg Gas Processing, L.p.Casinghead gasGathers100Jan 1, 2019Nov 1, 2019

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

Who buys my oilOil price check

80.10 acres on the newest permit

Check your decimal on this lease
Permits for Phelan 2
API numberWell no.Acreson the permit
42-317-38778180.10

SourceRailroad Commission drilling permits, Sep 26, 2026 (source 1, source 2).

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What Diamondback Energy, Inc. told investors it received

Diamondback E&P LLC is linked to Diamondback Energy, Inc. (FANG).
Realized prices reported by Diamondback Energy, Inc.
QuarterOil$ per bblFiling
Q2 2026$96.82SEC filing
Q1 2026$73.47SEC filing
Q4 2025$58.00SEC filing
Q3 2025$64.60SEC filing
Q2 2025$63.23SEC filing
Q1 2025$70.95SEC filing

SourceDiamondback Energy, Inc. quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for PHELAN 2
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Diamondback E&P1698497097$80.46$2.89
Jun 2026Diamondback E&P2333061320132$84.81$3.15
May 2026Diamondback E&P2071591030103$102.13$2.94
Apr 2026Diamondback E&P2302111800180$100.32$2.77
Mar 2026Diamondback E&P1831861930193$91.38$3.04
Feb 2026Diamondback E&P1631761260126$64.51$3.62
Jan 2026Diamondback E&P1529759059$60.04$7.72
Dec 2025Diamondback E&P13713647047$57.97$4.26
Nov 2025Diamondback E&P14516893093$60.06$3.79
Oct 2025Diamondback E&P1882091380138$60.89$3.19
Sep 2025Diamondback E&P2391921670167$63.96$2.97
Aug 2025Diamondback E&P1021101510151$64.86$2.91
Jul 2025Diamondback E&P1561851390139$68.39$3.20
Jun 2025Diamondback E&P19017217017$68.17$3.02
May 2025Diamondback E&P153145202$62.17$3.12
Apr 2025Diamondback E&P24727414014$63.54$3.42
Mar 2025Diamondback E&P479562062$68.24$4.12
Feb 2025Diamondback E&P290000$71.53$4.19
Jan 2025Diamondback E&P291267606$75.74$4.13
Dec 2024Endeavor Energy2331991740174$70.12$3.01
Nov 2024Endeavor Energy1301641220122$69.95$2.12
Oct 2024Endeavor Energy1611681300130$71.99$2.20
Sep 2024Endeavor Energy174169000$70.24$2.28
Aug 2024Endeavor Energy16521647470$76.68$1.99
Jul 2024Endeavor Energy2382624544540$81.80$2.07
Jun 2024Endeavor Energy115523353350$79.77$2.54
May 2024Endeavor Energy181202000$80.02$2.12
Apr 2024Endeavor Energy171158000$85.35$1.60
Mar 2024Endeavor Energy245193000$81.28$1.49
Feb 2024Endeavor Energy107123000$77.25$1.72
Jan 2024Endeavor Energy13811762620$74.15$3.18
Dec 2023Endeavor Energy1451551811810$71.90$2.52
Nov 2023Endeavor Energy1561684874870$77.69$2.71
Oct 2023Endeavor Energy18616616160$85.64$2.98
Sep 2023Endeavor Energy137156000$89.43$2.64
Aug 2023Endeavor Energy1691936666660$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

OperatorDiamondback E&P LLCFieldSpraberry (Trend Area)CountyMartin County

Diamondback E&P LLC in Martin County

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Spraberry (Trend Area) field

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