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Texas oil lease

Producing

UNIVERSITY 38-20

University 38-20 is an oil lease in Winkler County, Texas, operated by Crescent Energy Operating, LLC in the Two Georges (Bone Spring) field.

1 well

14,326bbl oil, last 12 months−4% vs prior year
Operator
Crescent Energy Operating, LLC
County
Winkler County
Field
Two Georges (Bone Spring)
RRC lease
08-42532

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Where it sits

This county

Winkler CountyWinklerAndrewsWardLovingEctorWinkler County
Winkler County
Gas, last 12 months
13,568 mcf
Oil in Jun 2026
1,061 bbl

Checks stopped on this lease?

  • Operator

    Operator changed: Crescent Energy Operating, LLC took over from Vital Energy, Inc. in Jan 2026.

SourceRailroad Commission production, P-5 and P-4 records, data through Jul 2026.

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Production by month

Oil output fell 4% over the last 12 months

Jul 2026 was not reported.

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 4% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 38-20, Aug 2023 to Jul 2026. Oil output fell 4% over the last 12 months. 13,122 bbl in the 12 months through Jul 2026, against 13,607 bbl in the 12 months before.Last 12 months: 13,122 bblbbl per monthmcf per month005005001,0001,0001,5001,5002,0002,000Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 4% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 38-20, Aug 2023 to Jul 2026. Oil output fell 4% over the last 12 months. 13,122 bbl in the 12 months through Jul 2026, against 13,607 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month005005001,0001,0001,5001,5002,0002,000Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Since Sep 2024 the lease's gas goes to a transmission line instead of a processing plant

Flaring peaked at 40.4% of the gas in Feb 2025.

  • Processing plant (3)
  • Transmission line (2)
  • Flared (4)
Since Sep 2024 the lease's gas goes to a transmission line instead of a processing plantShare of UNIVERSITY 38-20 gas by disposition code each month, Aug 2023 to Jul 2026. Since Sep 2024 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 40.4% of the gas in Feb 2025.Share of the lease’s gas by disposition code, per month0%50%100%Sep 2024: plant to lineFlared 40.4%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Sep 2024 the lease's gas goes to a transmission line instead of a processing plantShare of UNIVERSITY 38-20 gas by disposition code each month, Aug 2023 to Jul 2026. Since Sep 2024 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 40.4% of the gas in Feb 2025.Share of gas by disposition code0%50%100%Sep 24: plant to lineFlared 40.4%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    98% · 13,300 mcf

  • Flared (4)

    2.0% · 268 mcf

2.0% of the gas flared in the last 12 months. 9 months above 3%.

Who has run this lease

The operator changed 3 times, most recently in Jan 2026

Operators of this lease over timeDiamondback E&P LLC, Jan 2020 to Mar 2023; Point Energy Partners Petro, LLC, Apr 2023 to Aug 2024; Vital Energy, Inc., Sep 2024 to Dec 2025; Crescent Energy Operating, LLC, Jan 2026 to Jun 20262020202120222023202420252026Changed Apr 2023Changed Sep 2024Changed Jan 2026Diamondback E&P LLCJan 2020 to Mar 2023Point Energy Partners Petro,…Apr 2023 to Aug 2024Vital Energy, Inc.Sep 2024 to Dec 2025Crescent Energy Operating, LLCJan 2026 to now
Operators of this lease over timeDiamondback E&P LLC, Jan 2020 to Mar 2023; Point Energy Partners Petro, LLC, Apr 2023 to Aug 2024; Vital Energy, Inc., Sep 2024 to Dec 2025; Crescent Energy Operating, LLC, Jan 2026 to Jun 20262020202120222023202420252026Changed Apr 2023Changed Sep 2024Changed Jan 2026Diamondback E&P LLCJan 2020 to Mar 2023Point Energy Partners Petro, LLCApr 2023 to Aug 2024Vital Energy, Inc.Sep 2024 to Dec 2025Crescent Energy Operating, LLCJan 2026 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

1 well on this lease

Wells on UNIVERSITY 38-20
API numberWell no.Status
42-495-333852HActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Energy Trans Crude Marketing LLCOilGathers100Aug 1, 2023–
Energy Transfer CompanyCasinghead gasBuys50Aug 1, 2023–
Targa Midstream Services LLCCasinghead gasBuys50Aug 1, 2023–
Energy Transfer CompanyCasinghead gasGathers50Aug 1, 2023–
Targa Midstream Services LLCCasinghead gasGathers50Aug 1, 2023–
Energy Transfer CompanyCasinghead gasGathers100Nov 1, 2015Aug 1, 2023
Energy Transfer CompanyCasinghead gasBuys100Nov 1, 2015Aug 1, 2023
Plains Marketing, L.p.OilGathers75Nov 1, 2018Aug 1, 2023
Rio Energy International, Inc.OilGathers25Nov 1, 2018Aug 1, 2023

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

Who buys my oilOil price check

640 acres on the newest permit

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Permits for University 38-20
API numberWell no.Acreson the permit
42-495-333852640
42-495-333852H640

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

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What Crescent Energy Company told investors it received

Crescent Energy Operating, LLC is linked to Crescent Energy Company (CRGY).
Realized prices reported by Crescent Energy Company
QuarterOil$ per bblFiling
Q1 2026$71.00SEC filing
Q4 2025$62.21SEC filing
Q3 2025$63.07SEC filing
Q2 2025$61.47SEC filing
Q1 2025$67.64SEC filing
Q4 2024$67.51SEC filing

SourceCrescent Energy Company quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for UNIVERSITY 38-20
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026No report–––––$80.46$2.89
Jun 2026Crescent Energy1,0611,08291688333$84.81$3.15
May 2026Crescent Energy1,0991,1101,0091,0072$102.13$2.94
Apr 2026Crescent Energy1,0711,0701,2781,2771$100.32$2.77
Mar 2026Crescent Energy1,1781,5541,3191,3181$91.38$3.04
Feb 2026Crescent Energy1,3011,0641,0521,0511$64.51$3.62
Jan 2026Crescent Energy1,1989358798781$60.04$7.72
Dec 2025Vital Energy,1,1991,2759249222$57.97$4.26
Nov 2025Vital Energy,1,3831,4599999981$60.06$3.79
Oct 2025Vital Energy,1,2991,2691,1541,13717$60.89$3.19
Sep 2025Vital Energy,1,1331,2151,3881,183205$63.96$2.97
Aug 2025Vital Energy,1,2009681,1151,1141$64.86$2.91
Jul 2025Vital Energy,1,2041,4411,5351,5323$68.39$3.20
Jun 2025Vital Energy,1,1731,0421,4241,35965$68.17$3.02
May 2025Vital Energy,1,2611,4311,4401,4391$62.17$3.12
Apr 2025Vital Energy,1,1591,1131,2891,2872$63.54$3.42
Mar 2025Vital Energy,8047411,012721291$68.24$4.12
Feb 2025Vital Energy,9169371,035617418$71.53$4.19
Jan 2025Vital Energy,1,1401,11661753087$75.74$4.13
Dec 2024Vital Energy,1,1321,1131,1721,011161$70.12$3.01
Nov 2024Vital Energy,1,0961,09870564956$69.95$2.12
Oct 2024Vital Energy,1,0671,0951,2181,099119$71.99$2.20
Sep 2024Vital Energy,1,3961,1481,3461,3460$70.24$2.28
Aug 2024Point Energy1,2591,3311,2631,2630$76.68$1.99
Jul 2024Point Energy9719241,2631,2630$81.80$2.07
Jun 2024Point Energy1,4241,4241,3711,3710$79.77$2.54
May 2024Point Energy1,0731,0811,4361,4360$80.02$2.12
Apr 2024Point Energy1,0961,2681,3691,3690$85.35$1.60
Mar 2024Point Energy1,0998741,3571,3570$81.28$1.49
Feb 2024Point Energy9529009789780$77.25$1.72
Jan 2024Point Energy5215764984980$74.15$3.18
Dec 2023Point Energy1,1331,1281,2061,2060$71.90$2.52
Nov 2023Point Energy1,1371,1361,2061,2060$77.69$2.71
Oct 2023Point Energy1,1221,0941,2521,2520$85.64$2.98
Sep 2023Point Energy1,2591,2791,3151,3150$89.43$2.64
Aug 2023Point Energy1,5801,5801,3771,3770$81.39$2.58

No report filed 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

OperatorCrescent Energy Operating, LLCFieldTwo Georges (Bone Spring)CountyWinkler County

Crescent Energy Operating, LLC in Winkler County

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Two Georges (Bone Spring) field

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