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Texas oil lease

Producing

UNIVERSITY "49-1"

University "49-1" is an oil lease in Reagan County, Texas, operated by L & M Operating, Inc. in the Price (Grayburg) field.

4 wells

912bbl oil, last 12 months−6% vs prior year
Operator
L & M Operating, Inc.
County
Reagan County
Field
Price (Grayburg)
RRC lease
7C-07759

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Where it sits

This county

Reagan CountyReaganIrionSterlingUptonMidlandGlasscockReagan County
Reagan County
Gas, last 12 months
1,060 mcf
Oil in Jul 2026
53 bbl

Checks stopped on this lease?

  • 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.

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Production by month

Oil output fell 6% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 6% over the last 12 monthsMonthly oil production and gas for UNIVERSITY "49-1", Aug 2023 to Jul 2026. Oil output fell 6% over the last 12 months. 912 bbl in the 12 months through Jul 2026, against 966 bbl in the 12 months before.Last 12 months: 912 bblbbl per monthmcf per month00252550507575100100125125Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 6% over the last 12 monthsMonthly oil production and gas for UNIVERSITY "49-1", Aug 2023 to Jul 2026. Oil output fell 6% over the last 12 months. 912 bbl in the 12 months through Jul 2026, against 966 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month00252550507575100100125125Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

All of the gas went to flaring in the last 12 months

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

All of the gas went to flaring in the last 12 monthsShare of UNIVERSITY "49-1" gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Aug 2023.Share of the lease’s gas by disposition code, per month0%50%100%Flared 100.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
All of the gas went to flaring in the last 12 monthsShare of UNIVERSITY "49-1" gas by disposition code each month, Aug 2023 to Jul 2026. All of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Aug 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.

100.0% of the gas flared in the last 12 months. 36 months above 3%.

4 wells on this lease

Wells on UNIVERSITY "49-1"
API numberWell no.Status
42-383-313261Active
42-383-339892Active
42-383-341863Active
42-383-342156Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Shell Trading (Us) CompanyOilGathers100Jan 1, 2011
Davis Gas Processing, Inc.Casinghead gasBuys100Jan 1, 2011
Davis Gas Processing, Inc.Casinghead gasGathers100Jan 1, 2011

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

Who buys my oilOil price check

334.40 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 334 and 334.4 acres. Use the acres from your own division order for the well you are paid on.

Check your decimal on this lease
Permits for University "49-1"
API numberWell no.Acreson the permit
42-383-342156334.40
42-383-341863334.40
42-383-339892334.40
42-383-313261334

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

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36 months, newest first

Ledger for UNIVERSITY "49-1"
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 202653089089$80.46$2.89
Jun 202665087087$84.81$3.15
May 20267116989089$102.13$2.94
Apr 202681088088$100.32$2.77
Mar 20268416989089$91.38$3.04
Feb 2026102088088$64.51$3.62
Jan 20264416789089$60.04$7.72
Dec 202590088088$57.97$4.26
Nov 20259016888088$60.06$3.79
Oct 202582087087$60.89$3.19
Sep 20257815790090$63.96$2.97
Aug 202572088088$64.86$2.91
Jul 202575089089$68.39$3.20
Jun 20257616598098$68.17$3.02
May 202588097097$62.17$3.12
Apr 20256116998098$63.54$3.42
Mar 202592092092$68.24$4.12
Feb 20258616698098$71.53$4.19
Jan 20257501000100$75.74$4.13
Dec 2024851671220122$70.12$3.01
Nov 202486092092$69.95$2.12
Oct 20247916372072$71.99$2.20
Sep 202488095095$70.24$2.28
Aug 20247516591091$76.68$1.99
Jul 20249316690090$81.80$2.07
Jun 202496080080$79.77$2.54
May 202475080080$80.02$2.12
Apr 20246716780080$85.35$1.60
Mar 20249816793093$81.28$1.49
Feb 202493077077$77.25$1.72
Jan 202482060060$74.15$3.18
Dec 20239916385085$71.90$2.52
Nov 202310516560060$77.69$2.71
Oct 2023112060060$85.64$2.98
Sep 20238317060060$89.43$2.64
Aug 202311616960060$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

OperatorL & M Operating, Inc.FieldPrice (Grayburg)CountyReagan County

L & M Operating, Inc. in Reagan County

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Price (Grayburg) field

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