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Texas oil lease

Producing

TEXAS UNIVERSITY SEC. 1 & 2

Texas University Sec. 1 & 2 is an oil lease in Crane County, Texas, operated by Formentera Operations LLC in the Dune field.

70 wells

6,312bbl oil, last 12 months−1% vs prior year
Operator
Formentera Operations LLC
County
Crane County
Field
Dune
RRC lease
08-20901

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Where it sits

This county

Crane CountyCraneUptonMidlandWinklerWardEctorCrane County
Crane County
Gas, last 12 months
3,270 mcf
Oil in Jul 2026
464 bbl

Production by month

Oil output held steady over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output held steady over the last 12 monthsMonthly oil production and gas for TEXAS UNIVERSITY SEC. 1 & 2, Aug 2023 to Jul 2026. Oil output held steady over the last 12 months. 6,312 bbl in the 12 months through Jul 2026, against 6,364 bbl in the 12 months before.Last 12 months: 6,312 bblbbl per monthmcf per month00200100400200600300800400Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output held steady over the last 12 monthsMonthly oil production and gas for TEXAS UNIVERSITY SEC. 1 & 2, Aug 2023 to Jul 2026. Oil output held steady over the last 12 months. 6,312 bbl in the 12 months through Jul 2026, against 6,364 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month00200100400200600300800400Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

85% of the gas went to a transmission line in the last 12 months

Flaring peaked at 93.1% of the gas in Jul 2026.

  • Transmission line (2)
  • Flared (4)
85% of the gas went to a transmission line in the last 12 monthsShare of TEXAS UNIVERSITY SEC. 1 & 2 gas by disposition code each month, Aug 2023 to Jul 2026. 85% of the gas went to a transmission line in the last 12 months. Flaring peaked at 93.1% of the gas in Jul 2026.Share of the lease’s gas by disposition code, per month0%50%100%Flared 93.1%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
85% of the gas went to a transmission line in the last 12 monthsShare of TEXAS UNIVERSITY SEC. 1 & 2 gas by disposition code each month, Aug 2023 to Jul 2026. 85% of the gas went to a transmission line in the last 12 months. Flaring peaked at 93.1% of the gas in Jul 2026.Share of gas by disposition code0%50%100%Flared 93.1%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    85% · 2,790 mcf

  • Flared (4)

    15% · 480 mcf

14.7% of the gas flared in the last 12 months. 2 months above 3%.

Who has run this lease

The operator changed 3 times, most recently in Nov 2023

Operators of this lease over timeGrizzly Op of Delaware, LLC, Jan 2020 to Jan 2021; Contango Resources, Inc., Feb 2021 to Jan 2022; Slant Operating, LLC, Feb 2022 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 20262020202120222023202420252026Changed Feb 2021Changed Feb 2022Changed Nov 2023Grizzly Op of Delaware, LLCJan 2020 to Jan 2021Contango Resources, Inc.Feb 2021 to Jan 2022Slant Operating, LLCFeb 2022 to Oct 2023Formentera Operations LLCNov 2023 to now
Operators of this lease over timeGrizzly Op of Delaware, LLC, Jan 2020 to Jan 2021; Contango Resources, Inc., Feb 2021 to Jan 2022; Slant Operating, LLC, Feb 2022 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 20262020202120222023202420252026Changed Feb 2021Changed Feb 2022Changed Nov 2023Grizzly Op of Delaware, LLCJan 2020 to Jan 2021Contango Resources, Inc.Feb 2021 to Jan 2022Slant Operating, LLCFeb 2022 to Oct 2023Formentera Operations LLCNov 2023 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

70 wells on this lease

Wells on TEXAS UNIVERSITY SEC. 1 & 2
API numberWell no.Status
42-103-0364618WActive
42-103-036474WActive
42-103-036728WShut-in
42-103-036731Active
42-103-036742WShut-in
42-103-036757WShut-in
42-103-036766WActive
42-103-036773Shut-in
42-103-036785WActive
42-103-0367917WShut-in
42-103-0368020WActive
42-103-0388711WShut-in
42-103-0389219Active
42-103-0389610WShut-in
42-103-0389715WShut-in
42-103-0389814WActive
42-103-0389912WShut-in
42-103-0390013WActive
42-103-039039Shut-in
42-103-0390416WShut-in
42-103-0566159Shut-in
42-103-3031535Active
42-103-3031629Active
42-103-3031726WShut-in
42-103-3031821WActive
42-103-3032022Active
42-103-3032123Shut-in
42-103-3032225Active
42-103-3032436Active
42-103-3033138Active
42-103-3033324Shut-in
42-103-3033427Shut-in
42-103-3033528Shut-in
42-103-3033631Shut-in
42-103-3033834Shut-in
42-103-3034240WShut-in
42-103-3034333Active
42-103-3034537Active
42-103-3383461Active
42-103-3383562WActive
42-103-3395368WShut-in
42-103-3395466Shut-in
42-103-3395567Active
42-103-3395663Active
42-103-3395764Shut-in
42-103-3395865Active
42-103-3402074WShut-in
42-103-3402173WShut-in
42-103-3402269Active
42-103-3402375WActive
42-103-3402471Shut-in
42-103-3402572Active
42-103-3402670Active
42-103-3411783WShut-in
42-103-3411877Shut-in
42-103-3411979Active
42-103-3412080Active
42-103-3412181Active
42-103-3412282WShut-in
42-103-3412378Shut-in
42-103-3412476Active
42-103-3412984WShut-in
42-103-3414787Active
42-103-3414890Active
42-103-3414991WActive
42-103-3415089WShut-in
42-103-3415186Active
42-103-3415285Active
42-103-3415388Active
42-103-8256547Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Sentinel Transportation, LLCOilGathers100May 1, 2026–
Targa Midstream Services LLCCasinghead gasBuys100Feb 14, 2022–
Targa Midstream Services LLCCasinghead gasGathers100Feb 14, 2022–
Plains Marketing, L.p.OilGathers100Aug 1, 2022May 1, 2026
Eastex Crude CompanyOilGathers100Feb 14, 2022Aug 1, 2022
Concord Crude Oil Marketing LLCOilGathers100Dec 1, 2020Feb 14, 2022
Hollyfrontier Ref & Mktg LLCOilGathers100Jun 1, 2015Dec 1, 2020

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

Who buys my oilOil price check

1,280 acres on the newest permit

  • Good to know

    A pooling certificate (P-12) was filed

    Your tract may share its production with neighbors in a pooled unit. The unit acres the operator uses to divide production can differ from the acreage on one permit.

  • Good to know

    The wells on this lease state different acreage

    The permits state between 800 and 1,280 acres. Use the acres from your own division order for the well you are paid on.

  • Good to know

    97 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 Texas University Sec. 1 & 2
API numberWell no.Acreson the permit
42-103-05652481,280
42-103-3342092W800
42-103-3414787800
42-103-3415388800
42-103-3415089W800
42-103-3414890800
42-103-3414991W800
42-103-3415186800
42-103-3415285800
42-103-34124761,080
42-103-3412984W1,080
42-103-34120801,080

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

Unit decimal checker

Estimate your royalty

36 months, newest first

Ledger for TEXAS UNIVERSITY SEC. 1 & 2
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Formentera Operations46453133323310$80.46$2.89
Jun 2026Formentera Operations54568622151170$84.81$3.15
May 2026Formentera Operations5496661251250$102.13$2.94
Apr 2026Formentera Operations4983562152150$100.32$2.77
Mar 2026Formentera Operations4833502862860$91.38$3.04
Feb 2026Formentera Operations4915212772770$64.51$3.62
Jan 2026Formentera Operations5425293153150$60.04$7.72
Dec 2025Formentera Operations5285302922920$57.97$4.26
Nov 2025Formentera Operations5325272952950$60.06$3.79
Oct 2025Formentera Operations5695332802800$60.89$3.19
Sep 2025Formentera Operations5235392932930$63.96$2.97
Aug 2025Formentera Operations5885383383380$64.86$2.91
Jul 2025Formentera Operations5265402682680$68.39$3.20
Jun 2025Formentera Operations4795292832830$68.17$3.02
May 2025Formentera Operations5215273233230$62.17$3.12
Apr 2025Formentera Operations4725222592590$63.54$3.42
Mar 2025Formentera Operations5205423393390$68.24$4.12
Feb 2025Formentera Operations5025412652650$71.53$4.19
Jan 2025Formentera Operations5813592682680$75.74$4.13
Dec 2024Formentera Operations5697132792790$70.12$3.01
Nov 2024Formentera Operations5285452572570$69.95$2.12
Oct 2024Formentera Operations5635273063060$71.99$2.20
Sep 2024Formentera Operations5385243253250$70.24$2.28
Aug 2024Formentera Operations5655292922920$76.68$1.99
Jul 2024Formentera Operations6145333423420$81.80$2.07
Jun 2024Formentera Operations5435372622620$79.77$2.54
May 2024Formentera Operations5055302772770$80.02$2.12
Apr 2024Formentera Operations4905332492490$85.35$1.60
Mar 2024Formentera Operations4897082472470$81.28$1.49
Feb 2024Formentera Operations4993522322320$77.25$1.72
Jan 2024Formentera Operations5085322402400$74.15$3.18
Dec 2023Formentera Operations5137223093090$71.90$2.52
Nov 2023Formentera Operations4923591221220$77.69$2.71
Oct 2023Slant Operating,50752063630$85.64$2.98
Sep 2023Slant Operating,4223531901900$89.43$2.64
Aug 2023Slant Operating,6885323313310$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

OperatorFormentera Operations LLCFieldDuneCountyCrane County

Formentera Operations LLC in Crane County

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Dune field

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Drilling permits within 10 km