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Texas oil lease

Producing

UNIVERSITY 40

University 40 is an oil lease in Martin County, Texas, operated by Diamondback E&P LLC in the Spraberry (Trend Area) field.

6 wells

4,928bbl oil, last 12 months+32% vs prior year
Operator
Diamondback E&P LLC
County
Martin County
Field
Spraberry (Trend Area)
RRC lease
08-39162

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Where it sits

This county

Martin CountyMartinGainesAndrewsHowardDawsonBordenMartin County
Martin County
Gas, last 12 months
10,823 mcf
Oil in Jul 2026
385 bbl

Checks stopped on this lease?

  • Buyer

    Buyer changed: ET GATHERING & PROCESSING LLC replaced ETC GAS PROCESSING, LLC as the buyer of this lease's gas from oil wells on Mar 1, 2026.

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

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Production by month

Oil output rose 32% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output rose 32% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 40, Aug 2023 to Jul 2026. Oil output rose 32% over the last 12 months. 4,928 bbl in the 12 months through Jul 2026, against 3,747 bbl in the 12 months before.Last 12 months: 4,928 bblbbl per monthmcf per month002505005001,0007501,5001,0002,000Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output rose 32% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 40, Aug 2023 to Jul 2026. Oil output rose 32% over the last 12 months. 4,928 bbl in the 12 months through Jul 2026, against 3,747 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month002505005001,0007501,5001,0002,000Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

90% of the gas went to a transmission line in the last 12 months

Flaring peaked at 8.3% of the gas in Nov 2023.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
90% of the gas went to a transmission line in the last 12 monthsShare of UNIVERSITY 40 gas by disposition code each month, Aug 2023 to Jul 2026. 90% of the gas went to a transmission line in the last 12 months. Flaring peaked at 8.3% of the gas in Nov 2023.Share of the lease’s gas by disposition code, per month0%50%100%Flared 8.3%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
90% of the gas went to a transmission line in the last 12 monthsShare of UNIVERSITY 40 gas by disposition code each month, Aug 2023 to Jul 2026. 90% of the gas went to a transmission line in the last 12 months. Flaring peaked at 8.3% of the gas in Nov 2023.Share of gas by disposition code0%50%100%Flared 8.3%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    90% · 9,697 mcf

  • Lease fuel (1)

    10.0% · 1,077 mcf

  • Flared (4)

    0.5% · 49 mcf

0.5% of the gas flared in the last 12 months. 2 months above 3%.

Who has run this lease

The operator changed once, most recently in Oct 2021

Operators of this lease over timeQep Energy Company, Jan 2020 to Sep 2021; Diamondback E&P LLC, Oct 2021 to Jul 20262020202120222023202420252026Changed Oct 2021Qep Energy CompanyJan 2020 to Sep 2021Diamondback E&P LLCOct 2021 to now
Operators of this lease over timeQep Energy Company, Jan 2020 to Sep 2021; Diamondback E&P LLC, Oct 2021 to Jul 20262020202120222023202420252026Changed Oct 2021Qep Energy CompanyJan 2020 to Sep 2021Diamondback E&P LLCOct 2021 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

6 wells on this lease

Wells on UNIVERSITY 40
API numberWell no.Status
42-317-350493Active
42-317-350501Active
42-317-357312Shut-in
42-317-361204Shut-in
42-317-361315Active
42-317-361326Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Enterprise Crude Oil LLCOilGathers100Aug 1, 2024–
Et Gathering & Processing LLCCasinghead gasBuys100Mar 1, 2026–
Energy Transfer CompanyCasinghead gasGathers100Aug 1, 2024–
Etc Gas Processing, LLCCasinghead gasBuys100Aug 1, 2024Mar 1, 2026
Williams Mlp Operating LLCCasinghead gasGathers100Jul 2, 2021Aug 1, 2024
Et Gathering & Processing LLCCasinghead gasBuys50Oct 1, 2023Aug 1, 2024
Wtg Gas Processing, LLCCasinghead gasBuys50Jan 1, 2023Aug 1, 2024
Eastex Crude Company, LLCOilGathers50Aug 1, 2023Aug 1, 2024
Enterprise Crude Oil LLCOilGathers50Aug 1, 2023Aug 1, 2024

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

Who buys my oilOil price check

483 acres on the newest permit

Check your decimal on this lease
Permits for University 40
API numberWell no.Acreson the permit
42-317-361315483
42-317-361326483
42-317-361204483
42-317-357312483
42-317-350493483
42-317-350501483

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

Unit decimal checker

What Diamondback Energy, Inc. told investors it received

Diamondback E&P LLC is linked to Diamondback Energy, Inc. (FANG).
Realized prices reported by Diamondback Energy, Inc.
QuarterOil$ per bblFiling
Q2 2026$96.82SEC filing
Q1 2026$73.47SEC filing
Q4 2025$58.00SEC filing
Q3 2025$64.60SEC filing
Q2 2025$63.23SEC filing
Q1 2025$70.95SEC filing

SourceDiamondback Energy, Inc. quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for UNIVERSITY 40
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Diamondback E&P3854286296230$80.46$2.89
Jun 2026Diamondback E&P6296198758750$84.81$3.15
May 2026Diamondback E&P5125361,0101,0030$102.13$2.94
Apr 2026Diamondback E&P6847071,1319280$100.32$2.77
Mar 2026Diamondback E&P9228821,6181,35249$91.38$3.04
Feb 2026Diamondback E&P2933431,0919160$64.51$3.62
Jan 2026Diamondback E&P2621829708160$60.04$7.72
Dec 2025Diamondback E&P3213489987810$57.97$4.26
Nov 2025Diamondback E&P3403608687700$60.06$3.79
Oct 2025Diamondback E&P1301745885880$60.89$3.19
Sep 2025Diamondback E&P2051727647640$63.96$2.97
Aug 2025Diamondback E&P2453392812810$64.86$2.91
Jul 2025Diamondback E&P2191784654650$68.39$3.20
Jun 2025Diamondback E&P2291689048480$68.17$3.02
May 2025Diamondback E&P2311701,0728550$62.17$3.12
Apr 2025Diamondback E&P2451781,0708600$63.54$3.42
Mar 2025Diamondback E&P2945191,0798620$68.24$4.12
Feb 2025Diamondback E&P197073063313$71.53$4.19
Jan 2025Diamondback E&P1321877816930$75.74$4.13
Dec 2024Diamondback E&P3143531,4991,2820$70.12$3.01
Nov 2024Diamondback E&P3633389277170$69.95$2.12
Oct 2024Diamondback E&P5986951,2371,1530$71.99$2.20
Sep 2024Diamondback E&P5023381,3521,12920$70.24$2.28
Aug 2024Diamondback E&P4235181,1651,10829$76.68$1.99
Jul 2024Diamondback E&P4383931,0718540$81.80$2.07
Jun 2024Diamondback E&P5335069458470$79.77$2.54
May 2024Diamondback E&P2613555233690$80.02$2.12
Apr 2024Diamondback E&P5355468256150$85.35$1.60
Mar 2024Diamondback E&P5706871,2941,0770$81.28$1.49
Feb 2024Diamondback E&P6037021,3811,30511$77.25$1.72
Jan 2024Diamondback E&P6103471,1851,1850$74.15$3.18
Dec 2023Diamondback E&P7629031,0721,0720$71.90$2.52
Nov 2023Diamondback E&P33319741237834$77.69$2.71
Oct 2023Diamondback E&P11602542540$85.64$2.98
Sep 2023Diamondback E&P1191853183180$89.43$2.64
Aug 2023Diamondback E&P11616649248210$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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This lease belongs to

OperatorDiamondback E&P LLCFieldSpraberry (Trend Area)CountyMartin County

Diamondback E&P LLC in Martin County

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Spraberry (Trend Area) field

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