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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 University Waddell (Penn.) field.

Oil lease dossier

391bbl oil, last 12 months−48% vs prior year
Operator
Formentera Operations LLC
County
Crane County
Field
University Waddell (Penn.)
RRC lease
08-59708

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Where it sits

This county

Crane CountyCraneUptonMidlandWinklerWardEctorCrane County
Crane County
Gas, last 12 months
703 mcf
Oil in Jul 2026
141 bbl

Production by month

Oil output fell 48% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 48% over the last 12 monthsMonthly oil production and gas for TEXAS UNIVERSITY SEC. 1 & 2, Aug 2023 to Jul 2026. Oil output fell 48% over the last 12 months. 391 bbl in the 12 months through Jul 2026, against 757 bbl in the 12 months before.Last 12 months: 391 bblbbl per monthmcf per month0050100100200150300200400Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 48% over the last 12 monthsMonthly oil production and gas for TEXAS UNIVERSITY SEC. 1 & 2, Aug 2023 to Jul 2026. Oil output fell 48% over the last 12 months. 391 bbl in the 12 months through Jul 2026, against 757 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month0050100100200150300200400Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

55% of the gas went to flaring in the last 12 months

Flaring peaked at 100.0% of the gas in Sep 2023.

  • Transmission line (2)
  • Flared (4)
55% of the gas went to flaring in the last 12 monthsShare of TEXAS UNIVERSITY SEC. 1 & 2 gas by disposition code each month, Aug 2023 to Jul 2026. 55% of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Sep 2023.Share of the lease’s gas by disposition code, per month0%50%100%Flared 100.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
55% of the gas went to flaring in the last 12 monthsShare of TEXAS UNIVERSITY SEC. 1 & 2 gas by disposition code each month, Aug 2023 to Jul 2026. 55% of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Sep 2023.Share of gas by disposition code0%50%100%Flared 100.0%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Flared (4)

    55% · 1,505 mcf

  • Transmission line (2)

    45% · 1,235 mcf

54.9% of the gas flared in the last 12 months. 23 months above 3%.

Who has run this lease

The operator changed once, most recently in Nov 2023

Operators of this lease over timeSlant Operating, LLC, Jul 2023 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 2026202420252026Changed Nov 2023Slant Operating, LLCJul 2023 to Oct 2023Formentera Operations LLCNov 2023 to now
Operators of this lease over timeSlant Operating, LLC, Jul 2023 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 2026202420252026Changed Nov 2023Slant Operating, LLCJul 2023 to Oct 2023Formentera Operations LLCNov 2023 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Wells on this lease

No wells are linked to this lease in our data

Production is still reported at lease level.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Eastex Crude Company, LLCOilGathers80Jul 1, 2023
Shell Trading (Us) CompanyOilGathers20Jul 1, 2023
Dcp Operating Company, LPCasinghead gasBuys100Jul 1, 2023
Dcp Operating Company, LPCasinghead gasGathers100Jul 1, 2023

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

Who buys my oilOil price check

800 acres on the newest permit

Check your decimal on this lease
Permits for Texas University Sec. 1 & 2
API numberWell no.Acreson the permit
42-103-824571800

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 Operations1411583310331$80.46$2.89
Jun 2026Formentera Operations1831822688260$84.81$3.15
May 2026Formentera Operations67291046935$102.13$2.94
Apr 2026Formentera Operations00000$100.32$2.77
Mar 2026Formentera Operations00000$91.38$3.04
Feb 2026Formentera Operations00000$64.51$3.62
Jan 2026Formentera Operations00000$60.04$7.72
Dec 2025Formentera Operations00000$57.97$4.26
Nov 2025Formentera Operations00000$60.06$3.79
Oct 2025Formentera Operations00000$60.89$3.19
Sep 2025Formentera Operations00000$63.96$2.97
Aug 2025Formentera Operations00000$64.86$2.91
Jul 2025Formentera Operations00000$68.39$3.20
Jun 2025Formentera Operations142828253$68.17$3.02
May 2025Formentera Operations586116349114$62.17$3.12
Apr 2025Formentera Operations666323215676$63.54$3.42
Mar 2025Formentera Operations504523018347$68.24$4.12
Feb 2025Formentera Operations676926273189$71.53$4.19
Jan 2025Formentera Operations8897362218144$75.74$4.13
Dec 2024Formentera Operations85792483245$70.12$3.01
Nov 2024Formentera Operations727020014555$69.95$2.12
Oct 2024Formentera Operations79773123066$71.99$2.20
Sep 2024Formentera Operations9310336830167$70.24$2.28
Aug 2024Formentera Operations858533527461$76.68$1.99
Jul 2024Formentera Operations10810831623680$81.80$2.07
Jun 2024Formentera Operations1151122382380$79.77$2.54
May 2024Formentera Operations1291342132058$80.02$2.12
Apr 2024Formentera Operations1251252422420$85.35$1.60
Mar 2024Formentera Operations11410225419460$81.28$1.49
Feb 2024Formentera Operations1081242421241$77.25$1.72
Jan 2024Formentera Operations1501692150215$74.15$3.18
Dec 2023Formentera Operations1801682150215$71.90$2.52
Nov 2023Formentera Operations19820420822186$77.69$2.71
Oct 2023Slant Operating,1862022084204$85.64$2.98
Sep 2023Slant Operating,1891651820182$89.43$2.64
Aug 2023Slant Operating,1331201607981$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 LLCFieldUniversity Waddell (Penn.)CountyCrane County

Formentera Operations LLC in Crane County

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University Waddell (Penn.) field

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