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Texas oil lease

Producing

UNIVERSITY 48

University 48 is an oil lease in Reagan County, Texas, operated by Permian Resources Operating, LLC in the Spraberry (Trend Area) field.

Oil lease dossier

33,081bbl oil, last 12 months−1% vs prior year
Operator
Permian Resources Operating, LLC
County
Reagan County
Field
Spraberry (Trend Area)
RRC lease
7C-20636

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Where it sits

This county

Reagan CountyReaganIrionSterlingUptonMidlandGlasscockReagan County
Reagan County
Gas, last 12 months
437,570 mcf
Oil in Jul 2026
3,544 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 UNIVERSITY 48, Aug 2023 to Jul 2026. Oil output held steady over the last 12 months. 33,081 bbl in the 12 months through Jul 2026, against 33,501 bbl in the 12 months before.Last 12 months: 33,081 bblbbl per monthmcf per month001,00020k2,00040k3,00060k4,00080kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output held steady over the last 12 monthsMonthly oil production and gas for UNIVERSITY 48, Aug 2023 to Jul 2026. Oil output held steady over the last 12 months. 33,081 bbl in the 12 months through Jul 2026, against 33,501 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001,00020k2,00040k3,00060k4,00080kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

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

Flaring peaked at 46.8% of the gas in Apr 2026.

  • Processing plant (3)
  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
Since Apr 2024 the lease's gas goes to a transmission line instead of a processing plantShare of UNIVERSITY 48 gas by disposition code each month, Aug 2023 to Jul 2026. Since Apr 2024 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 46.8% of the gas in Apr 2026.Share of the lease’s gas by disposition code, per month0%50%100%Apr 2024: plant to lineFlared 46.8%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Apr 2024 the lease's gas goes to a transmission line instead of a processing plantShare of UNIVERSITY 48 gas by disposition code each month, Aug 2023 to Jul 2026. Since Apr 2024 the lease's gas goes to a transmission line instead of a processing plant. Flaring peaked at 46.8% of the gas in Apr 2026.Share of gas by disposition code0%50%100%Apr 24: plant to lineFlared 46.8%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    92% · 403,522 mcf

  • Lease fuel (1)

    5.3% · 22,994 mcf

  • Flared (4)

    2.5% · 11,054 mcf

2.5% of the gas flared in the last 12 months. 7 months above 3%.

Who has run this lease

The operator changed 3 times, most recently in Nov 2023

Operators of this lease over timeSable Permian Resources, LLC, Mar 2020 to Jan 2021; FDL Operating, LLC, Feb 2021 to Apr 2022; Earthstone Operating, LLC, May 2022 to Oct 2023; Permian Resources Operating, LLC, Nov 2023 to Jul 2026202120222023202420252026Changed Feb 2021Changed May 2022Changed Nov 2023Sable Permian Resources, LLCMar 2020 to Jan 2021FDL Operating, LLCFeb 2021 to Apr 2022Earthstone Operating, LLCMay 2022 to Oct 2023Permian Resources Operating,…Nov 2023 to now
Operators of this lease over timeSable Permian Resources, LLC, Mar 2020 to Jan 2021; FDL Operating, LLC, Feb 2021 to Apr 2022; Earthstone Operating, LLC, May 2022 to Oct 2023; Permian Resources Operating, LLC, Nov 2023 to Jul 2026202120222023202420252026Changed Feb 2021Changed May 2022Changed Nov 2023Sable Permian Resources, LLCMar 2020 to Jan 2021FDL Operating, LLCFeb 2021 to Apr 2022Earthstone Operating, LLCMay 2022 to Oct 2023Permian Resources Operating, 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%FromUntil
Rio Energy International, Inc.OilGathers100Mar 1, 2020–
Canes Midstream Logistics LLCCasinghead gasBuys100May 28, 2024–
Canes Midstream Logistics LLCCasinghead gasGathers100May 28, 2024–
Cogent Midstream Logistics, LLCCasinghead gasGathers100Mar 1, 2020Nov 1, 2023
Cogent Midstream Logistics, LLCCasinghead gasBuys100Mar 1, 2020Nov 1, 2023

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

Who buys my oilOil price check

3,203.30 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 2,681.9 and 3,670.52 acres. Use the acres from your own division order for the well you are paid on.

  • Good to know

    15 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 University 48
API numberWell no.Acreson the permit
42-383-385100301D3,203.30
42-383-383180715H3,158.78
42-383-383010704H2,681.91
42-383-383020712H2,681.91
42-383-382960714H2,681.91
42-383-382970713H2,681.91
42-383-382070708H3,203.36
42-383-381820707H3,203.30
42-383-380560706H2,681.91
42-383-380540705H2,681.91
42-383-380270702UH3,670.52
42-383-378020703H2,681.91

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

Unit decimal checker

What Permian Resources Corporation told investors it received

Permian Resources Operating, LLC is linked to Permian Resources Corporation (PR).
Realized prices reported by Permian Resources Corporation
QuarterOil$ per bblFiling
Q2 2026$97.81SEC filing
Q1 2026$70.91SEC filing
Q4 2025$58.78SEC filing
Q3 2025$64.77SEC filing
Q2 2025$62.71SEC filing
Q1 2025$70.48SEC filing

SourcePermian Resources Corporation quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for UNIVERSITY 48
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Permian Resources3,5443,41255,85952,926231$80.46$2.89
Jun 2026Permian Resources2,4452,87623,93322,579217$84.81$3.15
May 2026Permian Resources1,4371,2506,1554,0191,928$102.13$2.94
Apr 2026Permian Resources2,1472,71318,4798,7628,656$100.32$2.77
Mar 2026Permian Resources3,3453,60549,25546,5830$91.38$3.04
Feb 2026Permian Resources3,3263,59644,04141,5951$64.51$3.62
Jan 2026Permian Resources3,3542,71846,40043,7571$60.04$7.72
Dec 2025Permian Resources3,1323,28949,72247,0570$57.97$4.26
Nov 2025Permian Resources2,2921,79027,98726,96913$60.06$3.79
Oct 2025Permian Resources1,8462,17116,12414,8760$60.89$3.19
Sep 2025Permian Resources2,9153,05150,19147,6741$63.96$2.97
Aug 2025Permian Resources3,2982,87949,42446,7256$64.86$2.91
Jul 2025Permian Resources2,7162,89349,10746,7064$68.39$3.20
Jun 2025Permian Resources2,6892,71348,57246,0512$68.17$3.02
May 2025Permian Resources3,3243,25947,32644,94923$62.17$3.12
Apr 2025Permian Resources3,2042,99540,16137,6190$63.54$3.42
Mar 2025Permian Resources2,9833,58646,32243,84454$68.24$4.12
Feb 2025Permian Resources3,2083,06942,13039,78816$71.53$4.19
Jan 2025Permian Resources3,1383,07637,57835,07759$75.74$4.13
Dec 2024Permian Resources2,6762,81846,16043,4830$70.12$3.01
Nov 2024Permian Resources2,8582,29944,78544,7814$69.95$2.12
Oct 2024Permian Resources2,7572,86046,07946,02950$71.99$2.20
Sep 2024Permian Resources2,4512,27542,61642,59620$70.24$2.28
Aug 2024Permian Resources1,4971,32643,47843,131347$76.68$1.99
Jul 2024Permian Resources2,5472,95557,08655,9881,098$81.80$2.07
Jun 2024Permian Resources2,9213,14862,68062,343337$79.77$2.54
May 2024Permian Resources3,1043,21564,66062,5602,100$80.02$2.12
Apr 2024Permian Resources3,2173,40064,05662,5821,474$85.35$1.60
Mar 2024Permian Resources3,6112,65463,27562,0411,234$81.28$1.49
Feb 2024Permian Resources3,2684,54155,67353,5012,172$77.25$1.72
Jan 2024Permian Resources3,8892,86460,90159,5911,310$74.15$3.18
Dec 2023Permian Resources3,7263,93463,12161,2221,899$71.90$2.52
Nov 2023Permian Resources3,4133,33353,66952,4861,183$77.69$2.71
Oct 2023Earthstone Operating,3,7513,81960,73659,7271,009$85.64$2.98
Sep 2023Earthstone Operating,3,2083,56758,82447,87510,949$89.43$2.64
Aug 2023Earthstone Operating,3,4883,31167,49448,34319,151$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

OperatorPermian Resources Operating, LLCFieldSpraberry (Trend Area)CountyReagan County

Permian Resources Operating, LLC in Reagan County

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Spraberry (Trend Area) field

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