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Texas oil lease

Producing

TERCERO

Tercero is an oil lease in Winkler County, Texas, operated by Formentera Operations LLC in the Keystone (Wolfcamp) field.

1 well

23,837bbl oil, last 12 months−19% vs prior year
Operator
Formentera Operations LLC
County
Winkler County
Field
Keystone (Wolfcamp)
RRC lease
08-59064

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Where it sits

This county

Winkler CountyWinklerAndrewsWardLovingEctorWinkler County
Winkler County
Gas, last 12 months
31,506 mcf
Oil in Jul 2026
1,699 bbl

Production by month

Oil output fell 19% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 19% over the last 12 monthsMonthly oil production and gas for TERCERO, Aug 2023 to Jul 2026. Oil output fell 19% over the last 12 months. 23,837 bbl in the 12 months through Jul 2026, against 29,571 bbl in the 12 months before.Last 12 months: 23,837 bblbbl per monthmcf per month001,0002,0002,0004,0003,0006,0004,0008,000Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 19% over the last 12 monthsMonthly oil production and gas for TERCERO, Aug 2023 to Jul 2026. Oil output fell 19% over the last 12 months. 23,837 bbl in the 12 months through Jul 2026, against 29,571 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001,0002,0002,0004,0003,0006,0004,0008,000Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

95% of the gas went to a transmission line in the last 12 months

Flaring peaked at 65.0% of the gas in May 2026.

  • Transmission line (2)
  • Flared (4)
95% of the gas went to a transmission line in the last 12 monthsShare of TERCERO gas by disposition code each month, Aug 2023 to Jul 2026. 95% of the gas went to a transmission line in the last 12 months. Flaring peaked at 65.0% of the gas in May 2026.Share of the lease’s gas by disposition code, per month0%50%100%Flared 65.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
95% of the gas went to a transmission line in the last 12 monthsShare of TERCERO gas by disposition code each month, Aug 2023 to Jul 2026. 95% of the gas went to a transmission line in the last 12 months. Flaring peaked at 65.0% of the gas in May 2026.Share of gas by disposition code0%50%100%Flared 65.0%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    95% · 32,272 mcf

  • Flared (4)

    4.6% · 1,551 mcf

4.6% of the gas flared in the last 12 months. 3 months above 3%.

Who has run this lease

The operator changed once, most recently in May 2024

Operators of this lease over timeSaddleback Exploration, LLC, Dec 2022 to Apr 2024; Formentera Operations LLC, May 2024 to Jul 20262023202420252026Changed May 2024Saddleback Exploration, LLCDec 2022 to Apr 2024Formentera Operations LLCMay 2024 to now
Operators of this lease over timeSaddleback Exploration, LLC, Dec 2022 to Apr 2024; Formentera Operations LLC, May 2024 to Jul 20262023202420252026Changed May 2024Saddleback Exploration, LLCDec 2022 to Apr 2024Formentera Operations LLCMay 2024 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

1 well on this lease

Wells on TERCERO
API numberWell no.Status
42-495-347782HActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Gibson Energy Marketing, LLCOilGathers100Nov 14, 2022–
Dcp Operating Company, LPCasinghead gasBuys70Jul 2, 2024–
Energy Transfer CompanyCasinghead gasBuys30Jul 2, 2024–
Dcp Operating Company, LPCasinghead gasGathers70Jul 2, 2024–
Energy Transfer CompanyCasinghead gasGathers30Jul 2, 2024–
Energy Transfer CompanyCasinghead gasGathers100Nov 14, 2022Jul 2, 2024
Energy Transfer CompanyCasinghead gasBuys100Nov 14, 2022Jul 2, 2024

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

Who buys my oilOil price check

240 acres on the newest permit

Permits for Tercero
API numberWell no.Acreson the permit
42-495-347782H240

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

Unit decimal checker

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36 months, newest first

Ledger for TERCERO
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Formentera Operations1,6991,36972711$80.46$2.89
Jun 2026Formentera Operations1,7751,784000$84.81$3.15
May 2026Formentera Operations1,8322,016712249463$102.13$2.94
Apr 2026Formentera Operations2,0431,8925,0544,175879$100.32$2.77
Mar 2026Formentera Operations1,8921,8312,4312,223208$91.38$3.04
Feb 2026Formentera Operations1,3121,5483,3803,3800$64.51$3.62
Jan 2026Formentera Operations1,9351,8356,0296,0290$60.04$7.72
Dec 2025Formentera Operations2,0372,2273,3503,3500$57.97$4.26
Nov 2025Formentera Operations2,3722,1532,3492,3490$60.06$3.79
Oct 2025Formentera Operations1,8491,7783,5923,5920$60.89$3.19
Sep 2025Formentera Operations2,4392,4512,5432,5430$63.96$2.97
Aug 2025Formentera Operations2,6523,0071,9941,9940$64.86$2.91
Jul 2025Formentera Operations3,4433,1922,3172,3170$68.39$3.20
Jun 2025Formentera Operations2,3812,2352,7192,7190$68.17$3.02
May 2025Formentera Operations2,1862,1682,5902,5900$62.17$3.12
Apr 2025Formentera Operations2,2882,3852,0012,0010$63.54$3.42
Mar 2025Formentera Operations1,9201,684000$68.24$4.12
Feb 2025Formentera Operations2,1422,686000$71.53$4.19
Jan 2025Formentera Operations2,5392,2501,2191,2190$75.74$4.13
Dec 2024Formentera Operations2,7532,9082,8702,8700$70.12$3.01
Nov 2024Formentera Operations2,5522,5502,5122,5120$69.95$2.12
Oct 2024Formentera Operations2,3142,2132,1812,1810$71.99$2.20
Sep 2024Formentera Operations2,2862,6892,1462,1460$70.24$2.28
Aug 2024Formentera Operations2,7672,2783,1673,1670$76.68$1.99
Jul 2024Formentera Operations2,1722,2871351350$81.80$2.07
Jun 2024Formentera Operations2,4372,2712,8342,8340$79.77$2.54
May 2024Formentera Operations2,5452,5811,0851,0850$80.02$2.12
Apr 2024Saddleback Exploration,1,6461,5502,1012,1010$85.35$1.60
Mar 2024Saddleback Exploration,2,4222,8022,2662,2660$81.28$1.49
Feb 2024Saddleback Exploration,2,0801,8102,3082,3080$77.25$1.72
Jan 2024Saddleback Exploration,2,9512,6951,9571,9570$74.15$3.18
Dec 2023Saddleback Exploration,2,7772,8263,1323,1320$71.90$2.52
Nov 2023Saddleback Exploration,2,9172,9511,6211,6210$77.69$2.71
Oct 2023Saddleback Exploration,2,6352,5622,3102,3100$85.64$2.98
Sep 2023Saddleback Exploration,2,5612,5353,0733,0730$89.43$2.64
Aug 2023Saddleback Exploration,3,0723,2991,8401,8400$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

OperatorFormentera Operations LLCFieldKeystone (Wolfcamp)CountyWinkler County

Formentera Operations LLC in Winkler County

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Keystone (Wolfcamp) field

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