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Royalty Clerk

Texas oil lease · RRC district 08 · Lease 40251

Shut in

STERLING 38

Sterling 38 is an oil lease in Howard County, Texas, operated by Highpeak Energy Holdings, LLC in the Spraberry (Trend Area) field.

Oil lease dossier · 1 well

0bbl oil, last 12 months
Operator
Highpeak Energy Holdings, LLC
County
Howard County
Field
Spraberry (Trend Area)
RRC lease
08-40251

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Where it sits

This county

Howard CountyHowardMitchellMartinScurryDawsonBordenHoward County
Howard County · RRC district 08Open Howard County →
Oil in Jun 2026
0 bbl
Reporting to the state
since Jan 2020
Wells
1
Data through
Jun 2026

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).

No production to chart

The state shows zero oil and zero gas for all 35 months we hold (Aug 2023 to Jul 2026). A lease that is shut in or newly reported looks like this. The ledger below lists each month.

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.

No gas disposition reported for this lease

The operator has not reported where the gas went in the months we hold.

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.

The operator changed once, most recently in Jul 2021

If your statements skip or shrink around a change, ask the new operator's owner relations department whether the month is in suspense.

Operators of this lease over timeBayswater Operating Company LLC, Jan 2020 to Jun 2021; Highpeak Energy Holdings, LLC, Jul 2021 to Jun 20262020202120222023202420252026Changed Jul 2021Bayswater Operating Company L…Jan 2020 to Jun 2021Highpeak Energy Holdings, LLCJul 2021 to now
Operators of this lease over timeBayswater Operating Company LLC, Jan 2020 to Jun 2021; Highpeak Energy Holdings, LLC, Jul 2021 to Jun 20262020202120222023202420252026Changed Jul 2021Bayswater Operating Company LLCJan 2020 to Jun 2021Highpeak Energy Holdings, LLCJul 2021 to now

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 40251 in district 08. The API number is the state’s ID for a well.
Wells on STERLING 38
API numberWell no.Status
42-227-363611Shut-in

SourceTexas Railroad Commission Wellbore Query, district 08, lease 40251.

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

    Lion Oil Trading & Trans, LLC gathers it.

    100% of it, on the list since Dec 1, 2019

  • Gas from oil wells

    Dcp Operating Company, LP buys and gathers it.

    Dcp Operating Company, LP buys it: 100% of it, on the list since Apr 1, 2017 · Dcp Operating Company, LP gathers it: 100% of it, on the list since Apr 1, 2017

Companies that used to be listed: Lpc Crude Oil Marketing LLC (gathers it, until Dec 1, 2019).

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

292.50 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
0
First completion
May 20, 2010
Latest permit
Mar 30, 2010
Wells and acres on the permits for Sterling 38
API numberWell no.Acreson the permit
42-227-363611292.50

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

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 STERLING 38 sold each month.

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

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.

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 STERLING 38
MonthOil producedbblOil soldbblWTI$ per bblHenry Hub$ per MMBtu
Jul 2026No report––$80.46$2.89
Jun 2026Highpeak Energy00$84.81$3.15
May 2026Highpeak Energy00$102.13$2.94
Apr 2026Highpeak Energy00$100.32$2.77
Mar 2026Highpeak Energy00$91.38$3.04
Feb 2026Highpeak Energy00$64.51$3.62
Jan 2026Highpeak Energy00$60.04$7.72
Dec 2025Highpeak Energy00$57.97$4.26
Nov 2025Highpeak Energy00$60.06$3.79
Oct 2025Highpeak Energy00$60.89$3.19
Sep 2025Highpeak Energy00$63.96$2.97
Aug 2025Highpeak Energy00$64.86$2.91
Jul 2025Highpeak Energy00$68.39$3.20
Jun 2025Highpeak Energy00$68.17$3.02
May 2025Highpeak Energy00$62.17$3.12
Apr 2025Highpeak Energy00$63.54$3.42
Mar 2025Highpeak Energy00$68.24$4.12
Feb 2025Highpeak Energy00$71.53$4.19
Jan 2025Highpeak Energy00$75.74$4.13
Dec 2024Highpeak Energy00$70.12$3.01
Nov 2024Highpeak Energy00$69.95$2.12
Oct 2024Highpeak Energy00$71.99$2.20
Sep 2024Highpeak Energy00$70.24$2.28
Aug 2024Highpeak Energy00$76.68$1.99
Jul 2024Highpeak Energy00$81.80$2.07
Jun 2024Highpeak Energy00$79.77$2.54
May 2024Highpeak Energy00$80.02$2.12
Apr 2024Highpeak Energy00$85.35$1.60
Mar 2024Highpeak Energy00$81.28$1.49
Feb 2024Highpeak Energy00$77.25$1.72
Jan 2024Highpeak Energy00$74.15$3.18
Dec 2023Highpeak Energy00$71.90$2.52
Nov 2023Highpeak Energy00$77.69$2.71
Oct 2023Highpeak Energy00$85.64$2.98
Sep 2023Highpeak Energy00$89.43$2.64
Aug 2023Highpeak Energy00$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 STERLING 38. We compare volumes, prices, deductions and timing with the state record and give you the exact question to ask Highpeak Energy Holdings, LLC.

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  • 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

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

This lease belongs to

OperatorHighpeak Energy Holdings, LLCFieldSpraberry (Trend Area)CountyHoward County

Highpeak Energy Holdings, LLC in Howard County

All Highpeak Energy Holdings, LLC leases →

Spraberry (Trend Area) 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 Jun 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 40251, 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.