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Texas oil lease

Producing

UNIVERSITY LANDS /2-49/

University Lands /2-49/ is an oil lease in Reagan County, Texas, operated by L & M Operating, Inc. in the Price (Grayburg) field.

8 wells

1,627bbl oil, last 12 months−8% vs prior year
Operator
L & M Operating, Inc.
County
Reagan County
Field
Price (Grayburg)
RRC lease
7C-03981

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Where it sits

This county

Reagan CountyReaganIrionSterlingUptonMidlandGlasscockReagan County
Reagan County
Gas, last 12 months
1,883 mcf
Oil in Jul 2026
144 bbl

Production by month

Oil output fell 8% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 8% over the last 12 monthsMonthly oil production and gas for UNIVERSITY LANDS /2-49/, Aug 2023 to Jul 2026. Oil output fell 8% over the last 12 months. 1,627 bbl in the 12 months through Jul 2026, against 1,766 bbl in the 12 months before.Last 12 months: 1,627 bblbbl per monthmcf per month0010050200100300150400200500250Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 8% over the last 12 monthsMonthly oil production and gas for UNIVERSITY LANDS /2-49/, Aug 2023 to Jul 2026. Oil output fell 8% over the last 12 months. 1,627 bbl in the 12 months through Jul 2026, against 1,766 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month0010050200100300150400200500250Jan 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 LANDS /2-49/ 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 LANDS /2-49/ 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%.

8 wells on this lease

Wells on UNIVERSITY LANDS /2-49/
API numberWell no.Status
42-383-009151Active
42-383-101112Active
42-383-101133Active
42-383-101144Active
42-383-101155Active
42-383-315836Active
42-383-321127Active
42-383-326428Active

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

206 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 206 and 329 acres. Use the acres from your own division order for the well you are paid on.

  • Good to know

    8 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.

Check your decimal on this lease
Permits for University Lands /2-49/
API numberWell no.Acreson the permit
42-383-326428206
42-383-321127206
42-383-315836329
42-383-009151–
42-383-101112–
42-383-101133–
42-383-101144–
42-383-101155–

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

Unit decimal checker

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36 months, newest first

Ledger for UNIVERSITY LANDS /2-49/
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20261441691460146$80.46$2.89
Jun 20261001671440144$84.81$3.15
May 202611901460146$102.13$2.94
Apr 2026991641450145$100.32$2.77
Mar 20261541671460146$91.38$3.04
Feb 20261961671450145$64.51$3.62
Jan 20261401671460146$60.04$7.72
Dec 20251631651500150$57.97$4.26
Nov 20251521671450145$60.06$3.79
Oct 202511001950195$60.89$3.19
Sep 20251241642100210$63.96$2.97
Aug 20251261631650165$64.86$2.91
Jul 20251301651730173$68.39$3.20
Jun 202513002400240$68.17$3.02
May 20251731661800180$62.17$3.12
Apr 20251931652100210$63.54$3.42
Mar 20251863321750175$68.24$4.12
Feb 202514001680168$71.53$4.19
Jan 2025851711200120$75.74$4.13
Dec 20241611671880188$70.12$3.01
Nov 20241461671200120$69.95$2.12
Oct 20241371661950195$71.99$2.20
Sep 2024101470147$70.24$2.28
Aug 20242841641250125$76.68$1.99
Jul 20241261641300130$81.80$2.07
Jun 20241321671400140$79.77$2.54
May 20241501681610161$80.02$2.12
Apr 20241381661620162$85.35$1.60
Mar 202416701860186$81.28$1.49
Feb 20241703341700170$77.25$1.72
Jan 20241731651600160$74.15$3.18
Dec 20231491631550155$71.90$2.52
Nov 202317001550155$77.69$2.71
Oct 20231251841530153$85.64$2.98
Sep 20231881761520152$89.43$2.64
Aug 20231531641560156$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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Drilling permits within 10 km