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Texas oil lease

Producing

STUDLEY AV M 28-5

Studley Av M 28-5 is an oil lease in Reagan County, Texas, operated by De Central Operating, LLC in the Spraberry (Trend Area) field.

2 wells

33,186bbl oil, last 12 months−61% vs prior year
Operator
De Central Operating, LLC
County
Reagan County
Field
Spraberry (Trend Area)
RRC lease
7C-22283

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Where it sits

This county

Reagan CountyReaganIrionSterlingUptonMidlandGlasscockReagan County
Reagan County
Gas, last 12 months
615,439 mcf
Oil in Jul 2026
2,272 bbl

Checks stopped on this lease?

  • Operator

    Operator changed: De Central Operating, LLC took over from De IV Operating, LLC in Mar 2025.

  • P-5

    The previous operator's P-5 registration is listed as inactive since Jan 29, 2026 (last P-5 filed Jan 7, 2025).

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 61% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 61% over the last 12 monthsMonthly oil production and gas for STUDLEY AV M 28-5, Dec 2023 to Jul 2026. Oil output fell 61% over the last 12 months. 33,186 bbl in the 12 months through Jul 2026, against 86,084 bbl in the 12 months before.Last 12 months: 33,186 bblbbl per monthmcf per month0020k25k40k50k60k75k80k100k100k125kJan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 61% over the last 12 monthsMonthly oil production and gas for STUDLEY AV M 28-5, Dec 2023 to Jul 2026. Oil output fell 61% over the last 12 months. 33,186 bbl in the 12 months through Jul 2026, against 86,084 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month0020k25k40k50k60k75k80k100k100k125kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Over 99% of the gas went to a processing plant in the last 12 months

Flaring peaked at 97.6% of the gas in Dec 2023.

  • Processing plant (3)
  • Flared (4)
Over 99% of the gas went to a processing plant in the last 12 monthsShare of STUDLEY AV M 28-5 gas by disposition code each month, Dec 2023 to Jul 2026. Over 99% of the gas went to a processing plant in the last 12 months. Flaring peaked at 97.6% of the gas in Dec 2023.Share of the lease’s gas by disposition code, per month0%50%100%Flared 97.6%Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Over 99% of the gas went to a processing plant in the last 12 monthsShare of STUDLEY AV M 28-5 gas by disposition code each month, Dec 2023 to Jul 2026. Over 99% of the gas went to a processing plant in the last 12 months. Flaring peaked at 97.6% of the gas in Dec 2023.Share of gas by disposition code0%50%100%Flared 97.6%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Processing plant (3)

    100% · 613,909 mcf

  • Flared (4)

    0.2% · 1,530 mcf

0.2% of the gas flared in the last 12 months. 4 months above 3%.

Who has run this lease

The operator changed once, most recently in Mar 2025

Operators of this lease over timeDe IV Operating, LLC, Dec 2023 to Feb 2025; De Central Operating, LLC, Mar 2025 to Jul 2026202420252026Changed Mar 2025De IV Operating, LLCDec 2023 to Feb 2025De Central Operating, LLCMar 2025 to now
Operators of this lease over timeDe IV Operating, LLC, Dec 2023 to Feb 2025; De Central Operating, LLC, Mar 2025 to Jul 2026202420252026Changed Mar 2025De IV Operating, LLCDec 2023 to Feb 2025De Central Operating, LLCMar 2025 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

2 wells on this lease

Wells on STUDLEY AV M 28-5
API numberWell no.Status
42-383-414124213HActive
42-383-414134413HActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Medallion Operating Company, LLCOilGathers100Dec 1, 2023–
Targa Pl Mid-Cont Westtex LLCCasinghead gasBuys82.70Mar 1, 2025–
Brazos Midland Gas, LLCCasinghead gasBuys17.30Mar 1, 2025–
Targa Pl Mid-Cont Westtex LLCCasinghead gasGathers82.70Mar 1, 2025–
Brazos Midland Gas, LLCCasinghead gasGathers17.30Mar 1, 2025–
Targa Pl Mid-Cont Westtex LLCCasinghead gasGathers100Dec 1, 2023Mar 1, 2025
Targa Pl Mid-Cont Westtex LLCCasinghead gasBuys100Dec 1, 2023Mar 1, 2025

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

Who buys my oilOil price check

570.39 acres on the newest permit

  • Worth asking

    An allocation well is on this lease

    A well drilled across several tracts shares its production by an allocation formula, so the decimal is not always your acres over the unit acres. Ask the operator for the allocation formula and the tract factor for your land.

  • 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 Studley Av M 28-5
API numberWell no.Acreson the permit
42-383-414124213H570.39
42-383-414134413H570.39

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

Unit decimal checker

Estimate your royalty

32 months, newest first

Ledger for STUDLEY AV M 28-5
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026De Central2,2722,25453,57353,5730$80.46$2.89
Jun 2026De Central2,2882,28456,60256,5957$84.81$3.15
May 2026De Central2,5002,49859,01059,0100$102.13$2.94
Apr 2026De Central3,3093,30250,94250,9420$100.32$2.77
Mar 2026De Central3,1093,11549,88949,8890$91.38$3.04
Feb 2026De Central2,8972,87446,60246,6020$64.51$3.62
Jan 2026De Central2,5712,57546,66145,1381,523$60.04$7.72
Dec 2025De Central2,2882,30844,33944,3390$57.97$4.26
Nov 2025De Central3,0162,99449,26249,2620$60.06$3.79
Oct 2025De Central2,1812,19538,44938,4490$60.89$3.19
Sep 2025De Central3,1513,13957,52857,5280$63.96$2.97
Aug 2025De Central3,6043,60662,58262,5820$64.86$2.91
Jul 2025De Central4,5464,55552,81552,8150$68.39$3.20
Jun 2025De Central5,3175,31752,68952,513176$68.17$3.02
May 2025De Central5,5475,54455,52955,5290$62.17$3.12
Apr 2025De Central5,5655,55957,43757,4289$63.54$3.42
Mar 2025De Central5,0835,08563,62063,430190$68.24$4.12
Feb 2025De IV5,7705,76661,02361,0230$71.53$4.19
Jan 2025De IV6,9286,93364,72264,7220$75.74$4.13
Dec 2024De IV7,4817,48767,50867,5080$70.12$3.01
Nov 2024De IV7,9687,96368,38468,3840$69.95$2.12
Oct 2024De IV9,1139,11872,74271,1171,625$71.99$2.20
Sep 2024De IV10,28310,28174,43374,4330$70.24$2.28
Aug 2024De IV12,48312,47182,91882,9180$76.68$1.99
Jul 2024De IV14,20114,22688,62088,284336$81.80$2.07
Jun 2024De IV16,46316,47192,26091,574686$79.77$2.54
May 2024De IV19,31619,29995,52894,954574$80.02$2.12
Apr 2024De IV22,62022,67491,41690,806610$85.35$1.60
Mar 2024De IV29,82529,839101,006101,0024$81.28$1.49
Feb 2024De IV40,65040,66396,33192,7303,601$77.25$1.72
Jan 2024De IV52,39052,38877,88275,4572,425$74.15$3.18
Dec 2023De IV18,61318,47926,59764725,950$71.90$2.52

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

OperatorDe Central Operating, LLCFieldSpraberry (Trend Area)CountyReagan County

De Central Operating, LLC in Reagan County

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Spraberry (Trend Area) field

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