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Texas oil lease

Producing

SPANISH TRAIL 48 HZ UNIT

Spanish Trail 48 HZ Unit is an oil lease in Midland County, Texas, operated by Cog Operating LLC in the Spraberry (Trend Area) field.

20 wells

110,697bbl oil, last 12 months−34% vs prior year
Operator
Cog Operating LLC
County
Midland County
Field
Spraberry (Trend Area)
RRC lease
08-48103

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Where it sits

This county

Midland CountyMidlandMartinAndrewsGlasscockHowardEctorMidland County
Midland County
Gas, last 12 months
495,288 mcf
Oil in Jul 2026
8,376 bbl

Checks stopped on this lease?

  • Buyer

    Buyer changed: ONEOK MIDLAND MIDSTREAM, LLC replaced CORONADO MIDSTREAM LLC, DCP OPERATING COMPANY, LP as the buyer of this lease's gas from oil wells on Apr 1, 2026.

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 fell 34% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 34% over the last 12 monthsMonthly oil production and gas for SPANISH TRAIL 48 HZ UNIT, Aug 2023 to Jul 2026. Oil output fell 34% over the last 12 months. 110,697 bbl in the 12 months through Jul 2026, against 168,326 bbl in the 12 months before.Last 12 months: 110,697 bblbbl per monthmcf per month005,00020k10k40k15k60k20k80kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 34% over the last 12 monthsMonthly oil production and gas for SPANISH TRAIL 48 HZ UNIT, Aug 2023 to Jul 2026. Oil output fell 34% over the last 12 months. 110,697 bbl in the 12 months through Jul 2026, against 168,326 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

94% of the gas went to a processing plant in the last 12 months

Flaring peaked at 4.1% of the gas in Aug 2025.

  • Processing plant (3)
  • Lease fuel (1)
  • Flared (4)
94% of the gas went to a processing plant in the last 12 monthsShare of SPANISH TRAIL 48 HZ UNIT gas by disposition code each month, Aug 2023 to Jul 2026. 94% of the gas went to a processing plant in the last 12 months. Flaring peaked at 4.1% of the gas in Aug 2025.Share of the lease’s gas by disposition code, per month0%50%100%Flared 4.1%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
94% of the gas went to a processing plant in the last 12 monthsShare of SPANISH TRAIL 48 HZ UNIT gas by disposition code each month, Aug 2023 to Jul 2026. 94% of the gas went to a processing plant in the last 12 months. Flaring peaked at 4.1% of the gas in Aug 2025.Share of gas by disposition code0%50%100%Flared 4.1%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Processing plant (3)

    94% · 466,262 mcf

  • Lease fuel (1)

    5.1% · 25,480 mcf

  • Flared (4)

    0.7% · 3,546 mcf

0.7% of the gas flared in the last 12 months. One month above 3%.

20 wells on this lease

Wells on SPANISH TRAIL 48 HZ UNIT
API numberWell no.Status
42-329-390204817MSShut-in
42-329-390224817LSActive
42-329-390234817WBActive
42-329-397264818LSActive
42-329-397284818WBActive
42-329-399054827LSActive
42-329-399074827WAActive
42-329-399594820LSActive
42-329-399624820WAActive
42-329-401574826LSActive
42-329-401584826MSShut-in
42-329-401594826WBActive
42-329-416104825MSActive
42-329-416664825LSActive
42-329-416684825WAActive
42-329-420034828LSActive
42-329-420044828WBActive
42-329-424664824LSShut-in
42-329-424674824MSActive
42-329-424704824WAActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Energy Trans Crude Marketing LLCOilGathers100Apr 1, 2026–
Oneok Midland Midstream, LLCCasinghead gasBuys100Apr 1, 2026–
Enlink Permian, LLCCasinghead gasGathers100Apr 1, 2026–
Dcp Operating Company, LPCasinghead gasGathers50Apr 1, 2017Apr 1, 2026
Enlink Permian, LLCCasinghead gasGathers50Jun 1, 2023Apr 1, 2026
Coronado Midstream LLCCasinghead gasBuys50Sep 1, 2016Apr 1, 2026
Dcp Operating Company, LPCasinghead gasBuys50Apr 1, 2017Apr 1, 2026
Beta Crude Connector, LLCOilGathers25Jun 1, 2023Apr 1, 2026
Enterprise Crude Oil LLCOilGathers25Jun 1, 2023Apr 1, 2026

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

Who buys my oilOil price check

988.16 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 988.16 and 4,531.23 acres. Use the acres from your own division order for the well you are paid on.

  • Good to know

    20 wells are listed on this lease

    Each well can have its own unit. The decimal for one well does not have to equal the decimal for another.

  • 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 Spanish Trail 48 HZ Unit
API numberWell no.Acreson the permit
42-329-424674824MS988.16
42-329-424704824WA988.16
42-329-424664824LS988.16
42-329-420034828LS988.16
42-329-420044828WB988.16
42-329-416664825LS988.16
42-329-416684825WA988.16
42-329-416104825MS988.16
42-329-401574826LS4,531.23
42-329-401584826MS4,531.23
42-329-401594826WB4,531.23
42-329-399594820LS4,531.23

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

Unit decimal checker

What ConocoPhillips told investors it received

Cog Operating LLC is linked to ConocoPhillips (COP).
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, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for SPANISH TRAIL 48 HZ UNIT
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20268,3768,38835,22633,0560$80.46$2.89
Jun 20268,2568,21530,99928,8990$84.81$3.15
May 20269,0169,10834,13831,218750$102.13$2.94
Apr 20268,7248,64733,00730,9070$100.32$2.77
Mar 20268,2378,23936,96134,7910$91.38$3.04
Feb 20267,1557,20129,14127,2510$64.51$3.62
Jan 20269,0469,05737,64135,4710$60.04$7.72
Dec 20259,7059,72234,93732,7670$57.97$4.26
Nov 20257,5047,52132,35930,2590$60.06$3.79
Oct 202510,39010,27656,90754,7370$60.89$3.19
Sep 202512,89112,88865,13863,0380$63.96$2.97
Aug 202511,39711,40568,83463,8682,796$64.86$2.91
Jul 202511,90611,91064,52061,808542$68.39$3.20
Jun 202511,47311,77858,93756,8370$68.17$3.02
May 202514,18813,96769,19766,777250$62.17$3.12
Apr 202514,17714,15268,18466,0840$63.54$3.42
Mar 202512,51312,82752,52250,3520$68.24$4.12
Feb 202513,30713,67356,76754,8770$71.53$4.19
Jan 202515,58615,18863,33861,1680$75.74$4.13
Dec 202415,84215,92162,36260,1920$70.12$3.01
Nov 202414,00713,84358,89756,7970$69.95$2.12
Oct 202415,55015,71264,24362,0730$71.99$2.20
Sep 202415,20714,98557,58655,4860$70.24$2.28
Aug 202414,57014,53849,86747,6970$76.68$1.99
Jul 202412,88312,77448,65246,4820$81.80$2.07
Jun 20248,0148,17244,68642,386200$79.77$2.54
May 202414,99314,865000$80.02$2.12
Apr 202414,33714,34356,49254,3920$85.35$1.60
Mar 202414,17014,13958,06055,8900$81.28$1.49
Feb 202414,66714,64763,34561,3150$77.25$1.72
Jan 202415,27115,25054,04351,8730$74.15$3.18
Dec 202315,55115,60968,62466,4540$71.90$2.52
Nov 202316,99816,93258,12956,0290$77.69$2.71
Oct 202315,30915,30660,43257,962300$85.64$2.98
Sep 202317,36217,52757,66755,5670$89.43$2.64
Aug 202315,78915,74150,30948,1390$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

OperatorCog Operating LLCFieldSpraberry (Trend Area)CountyMidland County

Cog Operating LLC in Midland County

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Spraberry (Trend Area) field

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