Texas oil lease · RRC district 08 · Lease 54505
ProducingRUST 24
Rust 24 is an oil lease in Winkler County, Texas, operated by Formentera Operations LLC in the Keystone (Wolfcamp) field. The Railroad Commission shows 40,571 bbl of oil in the 12 months through Jul 2026.
Oil lease dossier · 2 wells
- Operator
- Formentera Operations LLC
- County
- Winkler County
- Field
- Keystone (Wolfcamp)
- RRC lease
- 08-54505
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Where it sits
This county
- Gas, last 12 months
- 155,218 mcf
- Oil in Jul 2026
- 2,084 bbl
- Reporting to the state
- since Jan 2020
- Wells
- 2
Production
Month by month, from the state record
Oil output fell 12% over the last 12 months
40,571 bbl in the 12 months through Jul 2026, against 46,176 bbl in the 12 months before.
- Oil (bars, left axis)
- Gas (line, right axis)
- Last 12 months
SourceTexas Railroad Commission Production Data Query, oil lease 54505, district 08. Reported through Jul 2026. The state revises recent months.
Gas disposition
Where the gas went
75% of the gas went to a transmission line in the last 12 months
Flaring peaked at 100.0% of the gas in May 2026.
- Transmission line (2)
- Flared (4)
SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 54505, district 08. Reported through Jul 2026.
Transmission line (2)
Sold straight into a pipeline without processing. Processing fees on your statement would be worth asking about.
Flared (4)
Burned off or vented, not sold. It pays no royalty. More than 3% in a month is worth watching.
Over the last 12 months, 24.9% of the gas was flared. 5 months went above 3%, which we mark in the ledger below.
Operator history
Who has run this lease
The operator changed 2 times, most recently in May 2024
If your statements skip or shrink around a change, ask the new operator's owner relations department whether the month is in suspense.
- Formentera Operations LLC May 2024 to now
- Saddleback Exploration, LLC Aug 2021 to Apr 2024
- Boyd & McWilliams Operating, LLC Jan 2020 to Jul 2021
SourceTexas Railroad Commission Production Data Query, operator by month. Reported through Jul 2026.
Wells
2 wells on this lease
| API number | Well no. | Status | Total depthft |
|---|---|---|---|
| 42-495-34261 | 1H | Active | – |
| 42-495-34391 | 2H | Active | – |
SourceTexas Railroad Commission Wellbore Query, district 08, lease 54505.
Who buys and gathers
Who moves and buys this lease's production
Oil
Eastex Crude Company, LLC and Dorado Oil Company gather it.
Eastex Crude Company, LLC gathers it: 99% of it, on the list since Dec 21, 2022 · Dorado Oil Company gathers it: 1% of it, on the list since Nov 1, 2022
Gas from oil wells
Energy Transfer Company and Dcp Operating Company, LP buy and gather it.
Energy Transfer Company buys it: 90% of it, on the list since Nov 1, 2022 · Dcp Operating Company, LP buys it: 10% of it, on the list since Nov 1, 2022 · Energy Transfer Company gathers it: 90% of it, on the list since Nov 1, 2022 · Dcp Operating Company, LP gathers it: 10% of it, on the list since Nov 1, 2022
Companies that used to be listed: Eastex Crude Company (gathers it, until Dec 21, 2022); Energy Transfer Company (gathers it, until Nov 1, 2022); Etc Texas P/L, LTD (buys it, until Nov 1, 2022); Dorado Oil Company (gathers it, until Nov 1, 2022); Eastex Crude Company (gathers it, until Nov 1, 2022); Gibson Energy Marketing, LLC (gathers it, until Nov 1, 2022).
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.
Unit and wells
1,284.20 acres on the newest permit
- Wells on the permits
- 22 not plugged
- Horizontal
- 2
- First completion
- Aug 14, 2019
- Latest permit
- Jul 8, 2019
| API number | Well no. | Permit issued | Completed | Acreson the permit |
|---|---|---|---|---|
| 42-495-34391 | 2H | Jul 8, 2019 | Oct 1, 2019 | 1,284.20 |
| 42-495-34261 | 1H | Dec 10, 2018 | Aug 14, 2019 | 1,284.19 |
Estimator
Estimate your royalty for this lease
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 RUST 24 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
An estimate, not your check
Ledger
36 months, newest first
| Month | Oil producedbbl | Oil soldbbl | Gas producedmcf | Gas soldmcf, codes 2+3 | Flaredmcf, code 4 | WTI$ per bbl | Henry Hub$ per MMBtu |
|---|---|---|---|---|---|---|---|
| Jul 2026Formentera Operations | 2,084 | 2,012 | 8,033 | 5,168 | 2,865 | $80.46 | $2.89 |
| Jun 2026Formentera Operations | 2,694 | 2,782 | 12,622 | 0 | 12,622 | $84.81 | $3.15 |
| May 2026Formentera Operations | 2,986 | 2,964 | 15,761 | 0 | 15,761 | $102.13 | $2.94 |
| Apr 2026Formentera Operations | 3,487 | 3,139 | 14,605 | 8,750 | 5,855 | $100.32 | $2.77 |
| Mar 2026Formentera Operations | 3,573 | 3,666 | 10,835 | 9,292 | 1,543 | $91.38 | $3.04 |
| Feb 2026Formentera Operations | 3,424 | 4,071 | 11,901 | 11,901 | 0 | $64.51 | $3.62 |
| Jan 2026Formentera Operations | 3,534 | 3,131 | 11,088 | 11,088 | 0 | $60.04 | $7.72 |
| Dec 2025Formentera Operations | 3,465 | 3,288 | 12,575 | 12,575 | 0 | $57.97 | $4.26 |
| Nov 2025Formentera Operations | 3,919 | 4,173 | 12,348 | 12,348 | 0 | $60.06 | $3.79 |
| Oct 2025Formentera Operations | 3,122 | 2,862 | 14,370 | 14,370 | 0 | $60.89 | $3.19 |
| Sep 2025Formentera Operations | 4,282 | 4,397 | 11,468 | 11,468 | 0 | $63.96 | $2.97 |
| Aug 2025Formentera Operations | 4,001 | 4,035 | 19,612 | 19,612 | 0 | $64.86 | $2.91 |
| Jul 2025Formentera Operations | 3,098 | 3,067 | 17,749 | 17,749 | 0 | $68.39 | $3.20 |
| Jun 2025Formentera Operations | 3,099 | 2,927 | 14,146 | 14,146 | 0 | $68.17 | $3.02 |
| May 2025Formentera Operations | 3,911 | 3,823 | 15,365 | 15,365 | 0 | $62.17 | $3.12 |
| Apr 2025Formentera Operations | 4,544 | 4,563 | 19,283 | 19,283 | 0 | $63.54 | $3.42 |
| Mar 2025Formentera Operations | 3,748 | 3,923 | 22,539 | 22,539 | 0 | $68.24 | $4.12 |
| Feb 2025Formentera Operations | 3,755 | 3,794 | 18,319 | 18,319 | 0 | $71.53 | $4.19 |
| Jan 2025Formentera Operations | 4,089 | 3,855 | 15,808 | 15,808 | 0 | $75.74 | $4.13 |
| Dec 2024Formentera Operations | 3,552 | 3,900 | 15,233 | 15,233 | 0 | $70.12 | $3.01 |
| Nov 2024Formentera Operations | 3,455 | 3,230 | 15,539 | 15,539 | 0 | $69.95 | $2.12 |
| Oct 2024Formentera Operations | 3,595 | 3,510 | 13,032 | 13,032 | 0 | $71.99 | $2.20 |
| Sep 2024Formentera Operations | 4,104 | 4,661 | 15,802 | 15,802 | 0 | $70.24 | $2.28 |
| Aug 2024Formentera Operations | 5,226 | 4,758 | 18,176 | 18,176 | 0 | $76.68 | $1.99 |
| Jul 2024Formentera Operations | 4,749 | 4,793 | 17,153 | 17,153 | 0 | $81.80 | $2.07 |
| Jun 2024Formentera Operations | 5,102 | 4,864 | 18,189 | 18,189 | 0 | $79.77 | $2.54 |
| May 2024Formentera Operations | 5,660 | 5,823 | 17,487 | 17,487 | 0 | $80.02 | $2.12 |
| Apr 2024Saddleback Exploration, | 2,978 | 2,986 | 12,555 | 12,555 | 0 | $85.35 | $1.60 |
| Mar 2024Saddleback Exploration, | 5,909 | 6,208 | 19,573 | 19,573 | 0 | $81.28 | $1.49 |
| Feb 2024Saddleback Exploration, | 5,980 | 6,269 | 19,794 | 19,794 | 0 | $77.25 | $1.72 |
| Jan 2024Saddleback Exploration, | 5,753 | 5,318 | 19,935 | 19,935 | 0 | $74.15 | $3.18 |
| Dec 2023Saddleback Exploration, | 5,387 | 5,065 | 20,206 | 20,206 | 0 | $71.90 | $2.52 |
| Nov 2023Saddleback Exploration, | 6,105 | 6,238 | 21,228 | 21,228 | 0 | $77.69 | $2.71 |
| Oct 2023Saddleback Exploration, | 6,866 | 6,659 | 25,912 | 25,912 | 0 | $85.64 | $2.98 |
| Sep 2023Saddleback Exploration, | 5,081 | 5,277 | 19,740 | 19,740 | 0 | $89.43 | $2.64 |
| Aug 2023Saddleback Exploration, | 6,032 | 6,293 | 18,991 | 18,991 | 0 | $81.39 | $2.58 |
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).
Check your statements
Do your checks match this lease?
Upload your statements for RUST 24. We compare volumes, prices, deductions and timing with the state record and give you the exact question to ask Formentera Operations LLC.
- A month that was never paid
- Your share of the barrels and mcf
- The price against WTI and Henry Hub
- Fees taken on gas
- Late payment interest
Around this lease
Walk the neighborhood
This lease belongs to
Formentera Operations LLC in Winkler County
- WHITING 21
108,465 bbl last 12 months
- ALLY
103,277 bbl last 12 months
- SEGUNDO
59,439 bbl last 12 months
- WHITING 28
54,379 bbl last 12 months
- WHITING 22
47,193 bbl last 12 months
Keystone (Wolfcamp) field
- COP
755,452 bbl last 12 months
- TATER TOT
148,112 bbl last 12 months
- DUDLEY 10
123,943 bbl last 12 months
- WHITING 21
108,465 bbl last 12 months
- SNIDELY
114,247 bbl last 12 months
Leases within 10 km
Found by the location of their wells.
- ALLY
103,277 bbl last 12 months · 0.1 km away
- WALTON ESTATE -24-
851 bbl last 12 months · 0.2 km away
- CAMPBELL RANCH "27"
400 bbl last 12 months · 0.2 km away
- RUST 24
0 bbl last 12 months · 0.4 km away
- ALLY 26
37,255 bbl last 12 months · 0.9 km away
Drilling permits within 10 km
KEYSTONE CATTLE CO. A #472
recompletion · BCP Resources, LLC · Winkler County · 2.5 km away
Permit 0918300 · Sep 27, 2026
BAIRD, W. E. #1315
new drill · Basin Oil & Gas Operating, LLC · Winkler County · 7.3 km away
Permit 0918745 · Sep 21, 2026
BAIRD, W. E. #1307
new drill · Basin Oil & Gas Operating, LLC · Winkler County · 7.8 km away
Permit 0918476 · Sep 11, 2026
BAIRD, W. E. #1827
new drill · Basin Oil & Gas Operating, LLC · Winkler County · 6.8 km away
Permit 0918473 · Sep 10, 2026
BAIRD, W. E. #1205
new drill · Basin Oil & Gas Operating, LLC · Winkler County · 6.7 km away
Permit 0918469 · Sep 10, 2026
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 Jul 2026?
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 54505, 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.