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Producing

PHILLIPS UNIVERSITY -11-

Phillips University -11- is an oil lease in Andrews County, Texas, operated by Crescent Energy Operating, LLC in the Martin (Consolidated) field.

3 wells

812bbl oil, last 12 months+10% vs prior year
Operator
Crescent Energy Operating, LLC
County
Andrews County
Field
Martin (Consolidated)
RRC lease
08-36492

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Where it sits

This county

Andrews CountyAndrewsMartinGainesDawsonAndrews County
Andrews County
Gas, last 12 months
2,711 mcf
Oil in Jul 2026
63 bbl

Checks stopped on this lease?

  • Operator

    Operator changed: Crescent Energy Operating, LLC took over from Contango Resources, LLC in Nov 2025.

  • P-5

    The previous operator's P-5 registration is listed as inactive since May 1, 2026 (last P-5 filed Feb 20, 2025).

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 rose 10% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output rose 10% over the last 12 monthsMonthly oil production and gas for PHILLIPS UNIVERSITY -11-, Aug 2023 to Jul 2026. Oil output rose 10% over the last 12 months. 812 bbl in the 12 months through Jul 2026, against 740 bbl in the 12 months before.Last 12 months: 812 bblbbl per monthmcf per month00251005020075300100400Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output rose 10% over the last 12 monthsMonthly oil production and gas for PHILLIPS UNIVERSITY -11-, Aug 2023 to Jul 2026. Oil output rose 10% over the last 12 months. 812 bbl in the 12 months through Jul 2026, against 740 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month00251005020075300100400Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

94% of the gas went to a transmission line in the last 12 months

Flaring peaked at 72.3% of the gas in Dec 2024.

  • Transmission line (2)
  • Flared (4)
94% of the gas went to a transmission line in the last 12 monthsShare of PHILLIPS UNIVERSITY -11- gas by disposition code each month, Aug 2023 to Jul 2026. 94% of the gas went to a transmission line in the last 12 months. Flaring peaked at 72.3% of the gas in Dec 2024.Share of the lease’s gas by disposition code, per month0%50%100%Flared 72.3%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
94% of the gas went to a transmission line in the last 12 monthsShare of PHILLIPS UNIVERSITY -11- gas by disposition code each month, Aug 2023 to Jul 2026. 94% of the gas went to a transmission line in the last 12 months. Flaring peaked at 72.3% of the gas in Dec 2024.Share of gas by disposition code0%50%100%Flared 72.3%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    94% · 2,552 mcf

  • Flared (4)

    5.9% · 159 mcf

5.9% of the gas flared in the last 12 months. 24 months above 3%.

Who has run this lease

The operator changed 4 times, most recently in Nov 2025

Operators of this lease over timeSheridan Production Company, LLC, Jan 2020 to Mar 2020; FDL Operating, LLC, Apr 2020 to Nov 2021; Contango Resources, Inc., Dec 2021 to Dec 2021; Contango Resources, LLC, Jan 2022 to Oct 2025; Crescent Energy Operating, LLC, Nov 2025 to Jul 20262020202120222023202420252026Changed Apr 2020Changed Dec 2021Changed Jan 2022Changed Nov 2025Sheridan Production Company,…Jan 2020 to Mar 2020FDL Operating, LLCApr 2020 to Nov 2021Contango Resources, Inc.Dec 2021 to Dec 2021Contango Resources, LLCJan 2022 to Oct 2025Crescent Energy Operating, LLCNov 2025 to now
Operators of this lease over timeSheridan Production Company, LLC, Jan 2020 to Mar 2020; FDL Operating, LLC, Apr 2020 to Nov 2021; Contango Resources, Inc., Dec 2021 to Dec 2021; Contango Resources, LLC, Jan 2022 to Oct 2025; Crescent Energy Operating, LLC, Nov 2025 to Jul 20262020202120222023202420252026Changed Apr 2020Changed Dec 2021Changed Jan 2022Changed Nov 2025Sheridan Production Company, LLCJan 2020 to Mar 2020FDL Operating, LLCApr 2020 to Nov 2021Contango Resources, Inc.Dec 2021 to Dec 2021Contango Resources, LLCJan 2022 to Oct 2025Crescent Energy Operating, LLCNov 2025 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

3 wells on this lease

Wells on PHILLIPS UNIVERSITY -11-
API numberWell no.Status
42-003-373752Shut-in
42-003-400323Active
42-003-417884Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Sentinel Transportation, LLCOilGathers100Jan 1, 2004–
Dcp Operating Company, LPCasinghead gasBuys50Dec 1, 2021–
James Lake Midstream LLCCasinghead gasBuys50Dec 1, 2021–
Dcp Operating Company, LPCasinghead gasGathers50Dec 1, 2021–
James Lake Midstream LLCCasinghead gasGathers50Dec 1, 2021–
Dcp Operating Company, LPCasinghead gasGathers75Apr 1, 2017Dec 1, 2021
James Lake Midstream LLCCasinghead gasGathers25Jul 1, 2015Dec 1, 2021
Dcp Operating Company, LPCasinghead gasBuys75Apr 1, 2017Dec 1, 2021
James Lake Midstream LLCCasinghead gasBuys25Jul 1, 2015Dec 1, 2021

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

Who buys my oilOil price check

42 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 42 and 167.7 acres. Use the acres from your own division order for the well you are paid on.

  • 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 Phillips University -11-
API numberWell no.Acreson the permit
42-003-41788442
42-003-40032342
42-003-400323C42
42-003-373752167.70

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

Unit decimal checker

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 PHILLIPS UNIVERSITY -11-
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Crescent Energy6315917014624$80.46$2.89
Jun 2026Crescent Energy66019118011$84.81$3.15
May 2026Crescent Energy421591841822$102.13$2.94
Apr 2026Crescent Energy6701851805$100.32$2.77
Mar 2026Crescent Energy771561891890$91.38$3.04
Feb 2026Crescent Energy6401871870$64.51$3.62
Jan 2026Crescent Energy64034733710$60.04$7.72
Dec 2025Crescent Energy751693573552$57.97$4.26
Nov 2025Crescent Energy7602182162$60.06$3.79
Oct 2025Contango Resources,7416721312192$60.89$3.19
Sep 2025Contango Resources,7702122120$63.96$2.97
Aug 2025Contango Resources,6716025824711$64.86$2.91
Jul 2025Contango Resources,86015510154$68.39$3.20
Jun 2025Contango Resources,561561271234$68.17$3.02
May 2025Contango Resources,5701547480$62.17$3.12
Apr 2025Contango Resources,5101318051$63.54$3.42
Mar 2025Contango Resources,671761811810$68.24$4.12
Feb 2025Contango Resources,6401591590$71.53$4.19
Jan 2025Contango Resources,65014712225$75.74$4.13
Dec 2024Contango Resources,5916615944115$70.12$3.01
Nov 2024Contango Resources,52014911435$69.95$2.12
Oct 2024Contango Resources,6201581508$71.99$2.20
Sep 2024Contango Resources,6016816415212$70.24$2.28
Aug 2024Contango Resources,610234105129$76.68$1.99
Jul 2024Contango Resources,590209109100$81.80$2.07
Jun 2024Contango Resources,561641951950$79.77$2.54
May 2024Contango Resources,63025117477$80.02$2.12
Apr 2024Contango Resources,7318322715869$85.35$1.60
Mar 2024Contango Resources,6202672670$81.28$1.49
Feb 2024Contango Resources,64020914960$77.25$1.72
Jan 2024Contango Resources,6616621320310$74.15$3.18
Dec 2023Contango Resources,67024223210$71.90$2.52
Nov 2023Contango Resources,6616927125516$77.69$2.71
Oct 2023Contango Resources,6502402328$85.64$2.98
Sep 2023Contango Resources,65027825820$89.43$2.64
Aug 2023Contango Resources,65159250136114$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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This lease belongs to

OperatorCrescent Energy Operating, LLCFieldMartin (Consolidated)CountyAndrews County

Crescent Energy Operating, LLC in Andrews County

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Martin (Consolidated) field

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