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UNIVERSITY B 38

University B 38 is an oil lease in Crane County, Texas, operated by Formentera Operations LLC in the Block 31 (Penn. 7620) field.

1 well

704bbl oil, last 12 months−43% vs prior year
Operator
Formentera Operations LLC
County
Crane County
Field
Block 31 (Penn. 7620)
RRC lease
08-44973

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Where it sits

This county

Crane CountyCraneUptonMidlandWinklerWardEctorCrane County
Crane County
Gas, last 12 months
11,541 mcf
Oil in Jul 2026
135 bbl

Production by month

Oil output fell 43% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 43% over the last 12 monthsMonthly oil production and gas for UNIVERSITY B 38, Aug 2023 to Jul 2026. Oil output fell 43% over the last 12 months. 704 bbl in the 12 months through Jul 2026, against 1,229 bbl in the 12 months before.Last 12 months: 704 bblbbl per monthmcf per month001005002001,0003001,5004002,0005002,500Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 43% over the last 12 monthsMonthly oil production and gas for UNIVERSITY B 38, Aug 2023 to Jul 2026. Oil output fell 43% over the last 12 months. 704 bbl in the 12 months through Jul 2026, against 1,229 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001005002001,0003001,5004002,0005002,500Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Since Oct 2023 the lease's gas goes to a transmission line instead of other uses

Flaring peaked at 82.7% of the gas in Jun 2026.

  • Transmission line (2)
  • Other (5 to 8)
  • Flared (4)
Since Oct 2023 the lease's gas goes to a transmission line instead of other usesShare of UNIVERSITY B 38 gas by disposition code each month, Aug 2023 to Jul 2026. Since Oct 2023 the lease's gas goes to a transmission line instead of other uses. Flaring peaked at 82.7% of the gas in Jun 2026.Share of the lease’s gas by disposition code, per month0%50%100%Oct 2023: other to lineFlared 82.7%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Oct 2023 the lease's gas goes to a transmission line instead of other usesShare of UNIVERSITY B 38 gas by disposition code each month, Aug 2023 to Jul 2026. Since Oct 2023 the lease's gas goes to a transmission line instead of other uses. Flaring peaked at 82.7% of the gas in Jun 2026.Share of gas by disposition code0%50%100%Oct 23: other to lineFlared 82.7%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    72% · 8,284 mcf

  • Flared (4)

    28% · 3,257 mcf

28.2% of the gas flared in the last 12 months. 14 months above 3%.

Who has run this lease

The operator changed 2 times, most recently in Nov 2023

Operators of this lease over timeApache Corporation, Jan 2020 to Jun 2021; Slant Operating, LLC, Jul 2021 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 20262020202120222023202420252026Changed Jul 2021Changed Nov 2023Apache CorporationJan 2020 to Jun 2021Slant Operating, LLCJul 2021 to Oct 2023Formentera Operations LLCNov 2023 to now
Operators of this lease over timeApache Corporation, Jan 2020 to Jun 2021; Slant Operating, LLC, Jul 2021 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 20262020202120222023202420252026Changed Jul 2021Changed Nov 2023Apache CorporationJan 2020 to Jun 2021Slant Operating, LLCJul 2021 to Oct 2023Formentera Operations LLCNov 2023 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

1 well on this lease

Wells on UNIVERSITY B 38
API numberWell no.Status
42-103-362102Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Eastex Crude Company, LLCOilGathers80Jan 1, 2023–
Shell Trading (Us) CompanyOilGathers20Jan 1, 2023–
Targa Midstream Services LLCCasinghead gasBuys100Jan 1, 2023–
Targa Midstream Services LLCCasinghead gasGathers100Sep 15, 2013–
Targa Midstream Services LLCCasinghead gasBuys100Sep 15, 2013Jan 1, 2023
Plains Marketing, L.p.OilGathers100Sep 15, 2013Jan 1, 2023

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

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160 acres on the newest permit

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Permits for University B 38
API numberWell no.Acreson the permit
42-103-329971160
42-103-362102160

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

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36 months, newest first

Ledger for UNIVERSITY B 38
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Formentera Operations135134831715116$80.46$2.89
Jun 2026Formentera Operations166155792137655$84.81$3.15
May 2026Formentera Operations3224977283694$102.13$2.94
Apr 2026Formentera Operations23311,012778234$100.32$2.77
Mar 2026Formentera Operations29281,1691,15910$91.38$3.04
Feb 2026Formentera Operations28271,03299834$64.51$3.62
Jan 2026Formentera Operations30291,0751,06015$60.04$7.72
Dec 2025Formentera Operations3338928539389$57.97$4.26
Nov 2025Formentera Operations5760874555319$60.06$3.79
Oct 2025Formentera Operations5350848252596$60.89$3.19
Sep 2025Formentera Operations5659848689159$63.96$2.97
Aug 2025Formentera Operations62591,1551,11936$64.86$2.91
Jul 2025Formentera Operations54521,0691,05910$68.39$3.20
Jun 2025Formentera Operations566794693511$68.17$3.02
May 2025Formentera Operations81811,069931138$62.17$3.12
Apr 2025Formentera Operations971191,258887371$63.54$3.42
Mar 2025Formentera Operations111951,4361,4360$68.24$4.12
Feb 2025Formentera Operations90761,3381,3380$71.53$4.19
Jan 2025Formentera Operations921001,3931,36726$75.74$4.13
Dec 2024Formentera Operations96881,235776459$70.12$3.01
Nov 2024Formentera Operations87901,2171,19720$69.95$2.12
Oct 2024Formentera Operations991021,4521,343109$71.99$2.20
Sep 2024Formentera Operations1741981,1331,12112$70.24$2.28
Aug 2024Formentera Operations1921631,0901,0900$76.68$1.99
Jul 2024Formentera Operations56577237230$81.80$2.07
Jun 2024Formentera Operations55825315310$79.77$2.54
May 2024Formentera Operations1871778928920$80.02$2.12
Apr 2024Formentera Operations2282751,0141,0140$85.35$1.60
Mar 2024Formentera Operations3092841,3591,3590$81.28$1.49
Feb 2024Formentera Operations3013121,1601,1600$77.25$1.72
Jan 2024Formentera Operations2882861,4051,4050$74.15$3.18
Dec 2023Formentera Operations3122801,5761,5760$71.90$2.52
Nov 2023Formentera Operations2813131,4361,4360$77.69$2.71
Oct 2023Slant Operating,3133171,4521,4520$85.64$2.98
Sep 2023Slant Operating,2773711,562017$89.43$2.64
Aug 2023Slant Operating,4773321,1571,14116$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

OperatorFormentera Operations LLCFieldBlock 31 (Penn. 7620)CountyCrane County

Formentera Operations LLC in Crane County

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Block 31 (Penn. 7620) field

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