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Texas oil lease

Producing

STATE 48

State 48 is an oil lease in Loving County, Texas, operated by Circle-S Energy, LLC in the Phantom (Wolfcamp) field.

6 wells

65,173bbl oil, last 12 months−20% vs prior year
Operator
Circle-S Energy, LLC
County
Loving County
Field
Phantom (Wolfcamp)
RRC lease
08-50263

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Where it sits

This county

Loving CountyLovingWinklerWardLoving County
Loving County
Gas, last 12 months
262,311 mcf
Oil in Jul 2026
5,045 bbl

Production by month

Oil output fell 20% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 20% over the last 12 monthsMonthly oil production and gas for STATE 48, Aug 2023 to Jul 2026. Oil output fell 20% over the last 12 months. 65,173 bbl in the 12 months through Jul 2026, against 81,667 bbl in the 12 months before.Last 12 months: 65,173 bblbbl per monthmcf per month002,50010k5,00020k7,50030k10k40k12.5k50kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 20% over the last 12 monthsMonthly oil production and gas for STATE 48, Aug 2023 to Jul 2026. Oil output fell 20% over the last 12 months. 65,173 bbl in the 12 months through Jul 2026, against 81,667 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month002,50010k5,00020k7,50030k10k40k12.5k50kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

77% of the gas went to a processing plant in the last 12 months

Flaring peaked at 11.5% of the gas in Jan 2026.

  • Processing plant (3)
  • Lease fuel (1)
  • Flared (4)
77% of the gas went to a processing plant in the last 12 monthsShare of STATE 48 gas by disposition code each month, Aug 2023 to Jul 2026. 77% of the gas went to a processing plant in the last 12 months. Flaring peaked at 11.5% of the gas in Jan 2026.Share of the lease’s gas by disposition code, per month0%50%100%Flared 11.5%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
77% of the gas went to a processing plant in the last 12 monthsShare of STATE 48 gas by disposition code each month, Aug 2023 to Jul 2026. 77% of the gas went to a processing plant in the last 12 months. Flaring peaked at 11.5% of the gas in Jan 2026.Share of gas by disposition code0%50%100%Flared 11.5%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Processing plant (3)

    77% · 203,055 mcf

  • Lease fuel (1)

    14% · 36,396 mcf

  • Flared (4)

    8.7% · 22,860 mcf

8.7% of the gas flared in the last 12 months. 34 months above 3%.

Who has run this lease

The operator changed once, most recently in Jan 2023

Operators of this lease over timeHeadington Energy Partners, LLC, Jan 2020 to Dec 2022; Circle-S Energy, LLC, Jan 2023 to Jul 20262020202120222023202420252026Changed Jan 2023Headington Energy Partners, L…Jan 2020 to Dec 2022Circle-S Energy, LLCJan 2023 to now
Operators of this lease over timeHeadington Energy Partners, LLC, Jan 2020 to Dec 2022; Circle-S Energy, LLC, Jan 2023 to Jul 20262020202120222023202420252026Changed Jan 2023Headington Energy Partners, LLCJan 2020 to Dec 2022Circle-S Energy, LLCJan 2023 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

6 wells on this lease

Wells on STATE 48
API numberWell no.Status
42-301-3365210Active
42-301-34013W 6HNActive
42-301-34014W 7HNActive
42-301-34015W 8HNActive
42-301-34357W 16HSActive
42-301-34358W 17HSActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Plains Pipeline L.p.OilGathers100Nov 26, 2018–
Delaware G&p LLCCasinghead gasGathers100Nov 8, 2018Jan 1, 2023
Delaware G&p LLCCasinghead gasBuys100Nov 8, 2018Jan 1, 2023

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

Who buys my oilOil price check

656.15 acres on the newest permit

Permits for State 48
API numberWell no.Acreson the permit
42-301-34357W 16HS656.15
42-301-34358W 17HS656.15
42-301-34013W 6HN656.15
42-301-34014W 7HN656.15
42-301-34015W 8HN656.15
42-301-3365210656.15

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

Unit decimal checker

Estimate your royalty

36 months, newest first

Ledger for STATE 48
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Circle-S Energy,5,0455,00615,53612,792825$80.46$2.89
Jun 2026Circle-S Energy,3,9843,96115,10911,2751,462$84.81$3.15
May 2026Circle-S Energy,3,6643,62216,02711,4311,616$102.13$2.94
Apr 2026Circle-S Energy,3,3993,39519,34214,6481,649$100.32$2.77
Mar 2026Circle-S Energy,4,4224,54221,26916,0412,038$91.38$3.04
Feb 2026Circle-S Energy,2,5212,40814,22011,3691,051$64.51$3.62
Jan 2026Circle-S Energy,4,0454,41219,14114,6222,192$60.04$7.72
Dec 2025Circle-S Energy,8,7698,57336,33529,3153,106$57.97$4.26
Nov 2025Circle-S Energy,8,3768,32432,45325,5272,804$60.06$3.79
Oct 2025Circle-S Energy,7,2467,26027,15020,9262,313$60.89$3.19
Sep 2025Circle-S Energy,7,0357,00022,89517,6341,935$63.96$2.97
Aug 2025Circle-S Energy,6,6676,74622,83417,4751,869$64.86$2.91
Jul 2025Circle-S Energy,5,6545,63224,52517,6982,390$68.39$3.20
Jun 2025Circle-S Energy,5,9585,93529,18721,0982,494$68.17$3.02
May 2025Circle-S Energy,6,3566,31529,25720,8442,513$62.17$3.12
Apr 2025Circle-S Energy,7,4907,49324,14617,850981$63.54$3.42
Mar 2025Circle-S Energy,7,2287,80522,69515,2162,108$68.24$4.12
Feb 2025Circle-S Energy,82653812,73511,041181$71.53$4.19
Jan 2025Circle-S Energy,3,0352,67522,40715,579278$75.74$4.13
Dec 2024Circle-S Energy,7,8018,10744,56136,6221,580$70.12$3.01
Nov 2024Circle-S Energy,10,53410,52841,45133,1613,624$69.95$2.12
Oct 2024Circle-S Energy,10,48010,40135,43030,0761,523$71.99$2.20
Sep 2024Circle-S Energy,9,0019,01130,09025,0841,510$70.24$2.28
Aug 2024Circle-S Energy,7,3047,24727,12722,2552,068$76.68$1.99
Jul 2024Circle-S Energy,9,7079,65740,50334,8971,807$81.80$2.07
Jun 2024Circle-S Energy,10,23010,25441,95734,9823,263$79.77$2.54
May 2024Circle-S Energy,11,99912,06440,89634,4093,009$80.02$2.12
Apr 2024Circle-S Energy,8,4558,41529,79123,7212,631$85.35$1.60
Mar 2024Circle-S Energy,7,6007,65631,32324,0052,548$81.28$1.49
Feb 2024Circle-S Energy,10,48710,49535,23028,0263,153$77.25$1.72
Jan 2024Circle-S Energy,12,05712,13635,77128,5813,114$74.15$3.18
Dec 2023Circle-S Energy,11,85311,80034,95528,2503,026$71.90$2.52
Nov 2023Circle-S Energy,9,5899,48830,43923,9562,948$77.69$2.71
Oct 2023Circle-S Energy,11,82311,68437,32929,6592,631$85.64$2.98
Sep 2023Circle-S Energy,12,10912,24531,54726,1912,058$89.43$2.64
Aug 2023Circle-S Energy,10,66010,69435,29029,0851,802$81.39$2.58

Flared above 3%

SourceTexas Railroad Commission Production Data Query, through Jul 2026. Prices: EIA, through Aug 2026. Updated Sep 28, 2026.

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Nearby

This lease belongs to

OperatorCircle-S Energy, LLCFieldPhantom (Wolfcamp)CountyLoving County

Circle-S Energy, LLC in Loving County

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Phantom (Wolfcamp) field

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