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Texas oil lease

Producing

UNIVERSITY 48-20

University 48-20 is an oil lease in Winkler County, Texas, operated by Crescent Energy Operating, LLC in the Two Georges (Bone Spring) field.

1 well

242bbl oil, last 12 months−85% vs prior year
Operator
Crescent Energy Operating, LLC
County
Winkler County
Field
Two Georges (Bone Spring)
RRC lease
08-41531

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Where it sits

This county

Winkler CountyWinklerAndrewsWardLovingEctorWinkler County
Winkler County
Gas, last 12 months
44 mcf
Oil in Jun 2026
20 bbl

Checks stopped on this lease?

  • Operator

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

  • Sales

    No sales reported for the last 2 months of state data (through Jul 2026).

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

See why checks stop on this lease

Production by month

Oil output fell 85% over the last 12 months

Jul 2026 was not reported.

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 85% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 48-20, Aug 2023 to Jul 2026. Oil output fell 85% over the last 12 months. 228 bbl in the 12 months through Jul 2026, against 1,475 bbl in the 12 months before.Last 12 months: 228 bblbbl per monthmcf per month001001,0002002,0003003,0004004,000Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 85% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 48-20, Aug 2023 to Jul 2026. Oil output fell 85% over the last 12 months. 228 bbl in the 12 months through Jul 2026, against 1,475 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001001,0002002,0003003,0004004,000Jan 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 51.9% 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 48-20 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 51.9% of the gas in Feb 2025.Share of the lease’s gas by disposition code, per month0%50%100%Sep 2024: plant to lineFlared 51.9%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Sep 2024 the lease's gas goes to a transmission line instead of a processing plantShare of UNIVERSITY 48-20 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 51.9% of the gas in Feb 2025.Share of gas by disposition code0%50%100%Sep 24: plant to lineFlared 51.9%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    97% · 657 mcf

  • Flared (4)

    2.8% · 19 mcf

2.8% of the gas flared in the last 12 months. 4 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 48-20
API numberWell no.Status
42-495-333631HActive

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.OilGathers100May 19, 2011Aug 1, 2023

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

Who buys my oilOil price check

640 acres on the newest permit

Check your decimal on this lease
Permits for University 48-20
API numberWell no.Acreson the permit
42-495-333631H640

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

Unit decimal checker

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 48-20
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026No report–––––$80.46$2.89
Jun 2026Crescent Energy200000$84.81$3.15
May 2026Crescent Energy4518319190$102.13$2.94
Apr 2026Crescent Energy170000$100.32$2.77
Mar 2026Crescent Energy80330$91.38$3.04
Feb 2026Crescent Energy11021210$64.51$3.62
Jan 2026Crescent Energy530000$60.04$7.72
Dec 2025Vital Energy,60000$57.97$4.26
Nov 2025Vital Energy,290000$60.06$3.79
Oct 2025Vital Energy,200000$60.89$3.19
Sep 2025Vital Energy,00110$63.96$2.97
Aug 2025Vital Energy,190000$64.86$2.91
Jul 2025Vital Energy,140000$68.39$3.20
Jun 2025Vital Energy,31129000$68.17$3.02
May 2025Vital Energy,12018020191$62.17$3.12
Apr 2025Vital Energy,19416759563$63.54$3.42
Mar 2025Vital Energy,20617821201$68.24$4.12
Feb 2025Vital Energy,188190271314$71.53$4.19
Jan 2025Vital Energy,18218544440$75.74$4.13
Dec 2024Vital Energy,1641644514510$70.12$3.01
Nov 2024Vital Energy,910550$69.95$2.12
Oct 2024Vital Energy,118183550$71.99$2.20
Sep 2024Vital Energy,0298770$70.24$2.28
Aug 2024Point Energy16701081080$76.68$1.99
Jul 2024Point Energy1931761081080$81.80$2.07
Jun 2024Point Energy3423592592590$79.77$2.54
May 2024Point Energy2221772662660$80.02$2.12
Apr 2024Point Energy2121111671670$85.35$1.60
Mar 2024Point Energy2431963513510$81.28$1.49
Feb 2024Point Energy2363503783780$77.25$1.72
Jan 2024Point Energy2761856686680$74.15$3.18
Dec 2023Point Energy2843632,9972,9970$71.90$2.52
Nov 2023Point Energy3173792,9972,9970$77.69$2.71
Oct 2023Point Energy315188000$85.64$2.98
Sep 2023Point Energy44187110$89.43$2.64
Aug 2023Point Energy75094940$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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