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Royalty Clerk

Texas oil lease · RRC district 08 · Lease 43100

No report in 6+ months

RAWHIDE STATE

Rawhide State is an oil lease in Reeves County, Texas, operated by Cog Operating LLC in the Two Georges (Bone Spring) field. The Railroad Commission shows 326 bbl of oil in the 12 months through Nov 2025.

Oil lease dossier · 1 well

326bbl oil, last 12 months−88% vs prior year
Operator
Cog Operating LLC
County
Reeves County
Field
Two Georges (Bone Spring)
RRC lease
08-43100

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Where it sits

This county

Reeves CountyReevesWinklerWardLovingReeves County
Reeves County · RRC district 08Open Reeves County →
Gas, last 12 months
337 mcf
Oil in Nov 2025
0 bbl
Reporting to the state
since Jan 2020
Wells
1

Production

Month by month, from the state record

What the Railroad Commission says this oil lease produced. Oil is in barrels (bbl). Gas is in thousand cubic feet (mcf).

Oil output fell 88% over the last 12 months

326 bbl in the 12 months through Nov 2025, against 2,821 bbl in the 12 months before.

  • Oil (bars, left axis)
  • Gas (line, right axis)
  • Last 12 months
Oil output fell 88% over the last 12 monthsMonthly oil production and gas for RAWHIDE STATE, Dec 2022 to Nov 2025. Oil output fell 88% over the last 12 months. 326 bbl in the 12 months through Nov 2025, against 2,821 bbl in the 12 months before.Last 12 months: 326 bblbbl per monthmcf per month002005004001,0006001,5008002,000Jan 23AprJulOctJan 24AprJulOctJan 25AprJulOct
Oil output fell 88% over the last 12 monthsMonthly oil production and gas for RAWHIDE STATE, Dec 2022 to Nov 2025. Oil output fell 88% over the last 12 months. 326 bbl in the 12 months through Nov 2025, against 2,821 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month002005004001,0006001,5008002,000Jan 23JulJan 24JulJan 25Jul

SourceTexas Railroad Commission Production Data Query, oil lease 43100, district 08. Reported through Jul 2026. The state revises recent months.

Gas disposition

Where the gas went

Every month the operator tells the state where each mcf of gas went, using a code. The code decides how your gas is paid.

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

Flaring peaked at 6.5% of the gas in Sep 2023.

  • Processing plant (3)
  • Flared (4)
All of the gas went to a processing plant in the last 12 monthsShare of RAWHIDE STATE gas by disposition code each month, Dec 2022 to Nov 2025. All of the gas went to a processing plant in the last 12 months. Flaring peaked at 6.5% of the gas in Sep 2023.Share of the lease’s gas by disposition code, per month0%50%100%Flared 6.5%Jan 23AprJulOctJan 24AprJulOctJan 25AprJulOct
All of the gas went to a processing plant in the last 12 monthsShare of RAWHIDE STATE gas by disposition code each month, Dec 2022 to Nov 2025. All of the gas went to a processing plant in the last 12 months. Flaring peaked at 6.5% of the gas in Sep 2023.Share of gas by disposition code0%50%100%Flared 6.5%Jan 23JulJan 24JulJan 25Jul

SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 43100, district 08. Reported through Jul 2026.

Processing plant (3)

Sent to a gas plant that pulls out natural gas liquids. Your statement should show plant products, and may show processing fees.

Flared (4)

Burned off or vented, not sold. It pays no royalty. More than 3% in a month is worth watching.

None of the gas was flared in the last 12 months. One month went above 3%, which we mark in the ledger below.

Operator history

Who has run this lease

The operator runs the wells and pays your royalty. When the operator changes, payments often slip for a month or two.

Cog Operating LLC has reported this lease for the whole period

No change of operator in the months we hold.

Operators of this lease over timeCog Operating LLC, Jan 2020 to Nov 2025202020212022202320242025Cog Operating LLCJan 2020 to nowthrough Nov 2025
Operators of this lease over timeCog Operating LLC, Jan 2020 to Nov 2025202020212022202320242025Cog Operating LLCJan 2020 to nowthrough Nov 2025

SourceTexas Railroad Commission Production Data Query, operator by month. Reported through Jul 2026.

Wells

1 well on this lease

Every well the Railroad Commission links to oil lease 43100 in district 08. The API number is the state’s ID for a well.
Wells on RAWHIDE STATE
API numberWell no.Status
42-389-33098403HActive

SourceTexas Railroad Commission Wellbore Query, district 08, lease 43100.

Who buys and gathers

Who moves and buys this lease's production

The operator files a Form P-4 with the Railroad Commission naming the companies authorised to gather and buy the oil and gas. The buyer's price is the one your royalty is figured on.

  • Oil

    Etp Crude LLC and Plains Marketing, L.p. gather it.

    Etp Crude LLC gathers it: 90% of it, on the list since Mar 1, 2016 · Plains Marketing, L.p. gathers it: 10% of it, on the list since Oct 1, 2015

  • Gas from oil wells

    Energy Transfer Company buys and gathers it.

    Energy Transfer Company buys it: 100% of it, on the list since Nov 1, 2015 · Energy Transfer Company gathers it: 100% of it, on the list since Nov 1, 2015

SourceRailroad Commission of Texas, Form P-4 file, dated Sep 24, 2026 (source). A listed company is authorised to move or buy the production; the state does not say what it paid.

Who buys my oil and gasIs my oil price fair?

Unit and wells

640 acres on the newest permit

Acres and wells as the operator filed them on its Railroad Commission drilling permits. Your decimal is your net acres over the unit acres, so this is the number to hold your division order against.
Wells on the permits
11 not plugged
Horizontal
1
First completion
Mar 30, 2012
Latest permit
Feb 12, 2025
Wells and acres on the permits for Rawhide State
API numberWell no.Acreson the permit
42-389-33098403H640

SourceRailroad Commission of Texas, drilling permits and wellbore file, Sep 26, 2026 (source 1, source 2). The acres are what the operator filed; they are not a survey.

Check my decimal against the unit

What the operator reported

What ConocoPhillips told investors it received

Cog Operating LLC is linked to ConocoPhillips (COP). Public companies report the average price they realize each quarter. It is an average across everything the company operates, not the price on this lease.
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 on SEC EDGAR, prices before hedging where the company states both. Read by machine from each filing’s tables; the link opens the filing so you can check the figure.

Compare with the price on my stub

Estimator

Estimate your royalty for this lease

A rough check before you look at a statement: the state volumes times your decimal, priced at WTI and Henry Hub.

Estimator

What could your check be?

Your decimal interest is the small number on your division order that says what share of the whole lease (8/8ths) is yours. Type it in and we apply it to what the state says RAWHIDE STATE sold each month.

For example 0.00097656, or a fraction like 1/1024.

Dollars per barrel. Your statements show the gap your operator uses. Leave 0 to price oil at WTI.

Your estimate appears here

Enter your decimal to see an estimated royalty for each of the last 12 months this lease reported. Nothing you type leaves your browser.

An estimate, not your check

It ignores gathering and processing fees, taxes, plant products and the price your operator actually gets, so your statement will differ. Use it as a ceiling to compare against. Regional gas prices are often below Henry Hub.

Ledger

36 months, newest first

Compare these numbers with your statements. Your share of a month is the “Oil sold” volume times your decimal. Scroll sideways on a phone.
Monthly production, disposition and prices for RAWHIDE STATE
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3Flaredmcf, code 4WTI$ per bblHenry Hub$ per MMBtu
Nov 2025Cog Operating00000$60.06$3.79
Oct 2025Cog Operating00000$60.89$3.19
Sep 2025Cog Operating00000$63.96$2.97
Aug 2025Cog Operating00000$64.86$2.91
Jul 2025Cog Operating00000$68.39$3.20
Jun 2025Cog Operating00000$68.17$3.02
May 2025Cog Operating00000$62.17$3.12
Apr 2025Cog Operating00000$63.54$3.42
Mar 2025Cog Operating00000$68.24$4.12
Feb 2025Cog Operating00000$71.53$4.19
Jan 2025Cog Operating1481631701700$75.74$4.13
Dec 2024Cog Operating1781681671670$70.12$3.01
Nov 2024Cog Operating1341462052050$69.95$2.12
Oct 2024Cog Operating2131981901900$71.99$2.20
Sep 2024Cog Operating1311551961960$70.24$2.28
Aug 2024Cog Operating1761452112110$76.68$1.99
Jul 2024Cog Operating1361393973970$81.80$2.07
Jun 2024Cog Operating1932243943940$79.77$2.54
May 2024Cog Operating312279000$80.02$2.12
Apr 2024Cog Operating525458580$85.35$1.60
Mar 2024Cog Operating2292322662660$81.28$1.49
Feb 2024Cog Operating1552621611610$77.25$1.72
Jan 2024Cog Operating3954084654650$74.15$3.18
Dec 2023Cog Operating6956851,0841,0840$71.90$2.52
Nov 2023Cog Operating6206111,3481,3480$77.69$2.71
Oct 2023Cog Operating6446541,3211,3210$85.64$2.98
Sep 2023Cog Operating50760596189962$89.43$2.64
Aug 2023Cog Operating5036101611610$81.39$2.58
Jul 2023Cog Operating30422112120$76.07$2.55
Jun 2023Cog Operating14847110$70.25$2.18
May 2023Cog Operating2402473553550$71.58$2.15
Apr 2023Cog Operating6267321,4681,4680$79.45$2.16
Mar 2023Cog Operating5045389799790$73.28$2.31
Feb 2023Cog Operating5374011,0171,0170$76.83$2.38
Jan 2023Cog Operating6376891,2311,2310$78.12$3.27
Dec 2022Cog Operating5335271,1621,1620$76.44$5.53

No report filed More than 3% of gas flared

SourceVolumes: Texas Railroad Commission Production Data Query, reported through Jul 2026. Prices: EIA WTI Cushing spot and Henry Hub spot, monthly, through Aug 2026. “Gas sold” is gas sent to a transmission line (code 2) or a plant (code 3).

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Around this lease

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Everything on this page connects to the operator, field and county records. Start from any of them.

This lease belongs to

OperatorCog Operating LLCFieldTwo Georges (Bone Spring)CountyReeves County

Cog Operating LLC in Reeves County

No other producing leases from this operator in this county are in our data yet.

Two Georges (Bone Spring) field

All leases in this field →

Leases within 10 km

Found by the location of their wells.

Drilling permits within 10 km

How to read this page

Questions owners ask

What is a decimal interest?

It is your share of the whole lease, written as a decimal. A 1/4 royalty on 5 net acres in a 1,280-acre unit is 1/4 × 5 ÷ 1,280 = 0.00097656. Your division order states yours.

How do I use this page to check a royalty check?

Take the “Oil sold” volume for the month the check covers and multiply it by your decimal. The answer should match the barrels on your statement. If it does not, upload the statement and we will show where the two differ.

Why is the newest month Nov 2025?

The Railroad Commission publishes production two to three months after the fact and revises recent months. We re-pull the latest three months on every update.

Does this page show what my check should be?

No. It shows what the state recorded. Prices, fees and taxes depend on your lease and on what your operator gets for the oil and gas. The estimator gives a ceiling to compare against.

Sources and method

Where these numbers come from

  • Production and disposition by month: Texas Railroad Commission Production Data Query, oil lease 43100, district 08, reported through Jul 2026.
  • Wells: Texas Railroad Commission Wellbore Query.
  • Prices: U.S. Energy Information Administration, WTI Cushing spot and Henry Hub spot, monthly.
  • Page updated Sep 28, 2026.

We show the state’s numbers as filed. Where the state has no report for a month, we say so instead of guessing.