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Texas oil lease

Producing

UNIVERSITY LANDS 31

University Lands 31 is an oil lease in Crane County, Texas, operated by Formentera Operations LLC in the Dune field.

3 wells

942bbl oil, last 12 months−5% vs prior year
Operator
Formentera Operations LLC
County
Crane County
Field
Dune
RRC lease
08-41155

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Where it sits

This county

Crane CountyCraneUptonMidlandWinklerWardEctorCrane County
Crane County
Gas, last 12 months
6,775 mcf
Oil in Jul 2026
61 bbl

Production by month

Oil output fell 5% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 5% over the last 12 monthsMonthly oil production and gas for UNIVERSITY LANDS 31, Aug 2023 to Jul 2026. Oil output fell 5% over the last 12 months. 942 bbl in the 12 months through Jul 2026, against 994 bbl in the 12 months before.Last 12 months: 942 bblbbl per monthmcf per month00502501005001507502001,0002501,250Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 5% over the last 12 monthsMonthly oil production and gas for UNIVERSITY LANDS 31, Aug 2023 to Jul 2026. Oil output fell 5% over the last 12 months. 942 bbl in the 12 months through Jul 2026, against 994 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month00502501005001507502001,0002501,250Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Over 99% of the gas went to flaring in the last 12 months

Flaring peaked at 100.0% of the gas in May 2025.

  • Transmission line (2)
  • Flared (4)
Over 99% of the gas went to flaring in the last 12 monthsShare of UNIVERSITY LANDS 31 gas by disposition code each month, Aug 2023 to Jul 2026. Over 99% of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in May 2025.Share of the lease’s gas by disposition code, per month0%50%100%Flared 100.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Over 99% of the gas went to flaring in the last 12 monthsShare of UNIVERSITY LANDS 31 gas by disposition code each month, Aug 2023 to Jul 2026. Over 99% of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in May 2025.Share of gas by disposition code0%50%100%Flared 100.0%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Flared (4)

    100% · 6,755 mcf

  • Transmission line (2)

    0.3% · 20 mcf

99.7% of the gas flared in the last 12 months. 27 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.

3 wells on this lease

Wells on UNIVERSITY LANDS 31
API numberWell no.Status
42-103-357921HShut-in
42-103-358612HActive
42-103-358881WActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Eastex Crude Company, LLCOilGathers50Jan 1, 2023–
Shell Trading (Us) CompanyOilGathers50Sep 15, 2016–
Targa Midstream Services LLCCasinghead gasBuys100Sep 15, 2016–
Targa Midstream Services LLCCasinghead gasGathers100Sep 15, 2016–
Eastex Crude CompanyOilGathers50Sep 15, 2016Jan 1, 2023

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

Who buys my oilOil price check

320 acres on the newest permit

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Permits for University Lands 31
API numberWell no.Acreson the permit
42-103-358881W320
42-103-358612H320
42-103-357921H320

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

Unit decimal checker

Estimate your royalty

36 months, newest first

Ledger for UNIVERSITY LANDS 31
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Formentera Operations61505370537$80.46$2.89
Jun 2026Formentera Operations771085190519$84.81$3.15
May 2026Formentera Operations98735370537$102.13$2.94
Apr 2026Formentera Operations48615190519$100.32$2.77
Mar 2026Formentera Operations9010254120521$91.38$3.04
Feb 2026Formentera Operations101955790579$64.51$3.62
Jan 2026Formentera Operations97626310631$60.04$7.72
Dec 2025Formentera Operations66725260526$57.97$4.26
Nov 2025Formentera Operations60625730573$60.06$3.79
Oct 2025Formentera Operations68756080608$60.89$3.19
Sep 2025Formentera Operations85885730573$63.96$2.97
Aug 2025Formentera Operations91756320632$64.86$2.91
Jul 2025Formentera Operations84837190719$68.39$3.20
Jun 2025Formentera Operations1291506680668$68.17$3.02
May 2025Formentera Operations60496190619$62.17$3.12
Apr 2025Formentera Operations6664568278290$63.54$3.42
Mar 2025Formentera Operations911096176170$68.24$4.12
Feb 2025Formentera Operations6268587479108$71.53$4.19
Jan 2025Formentera Operations10211069816682$75.74$4.13
Dec 2024Formentera Operations98666798671$70.12$3.01
Nov 2024Formentera Operations6264598392206$69.95$2.12
Oct 2024Formentera Operations949273771666$71.99$2.20
Sep 2024Formentera Operations64515685680$70.24$2.28
Aug 2024Formentera Operations821019019010$76.68$1.99
Jul 2024Formentera Operations6459981836145$81.80$2.07
Jun 2024Formentera Operations61509379370$79.77$2.54
May 2024Formentera Operations66821,1661,11353$80.02$2.12
Apr 2024Formentera Operations48291,1631,1630$85.35$1.60
Mar 2024Formentera Operations421,1541,1540$81.28$1.49
Feb 2024Formentera Operations7151,1401,1400$77.25$1.72
Jan 2024Formentera Operations1816670205465$74.15$3.18
Dec 2023Formentera Operations2222708245463$71.90$2.52
Nov 2023Formentera Operations1618747615132$77.69$2.71
Oct 2023Slant Operating,21188628620$85.64$2.98
Sep 2023Slant Operating,17277397390$89.43$2.64
Aug 2023Slant Operating,521131,0651,03134$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 LLCFieldDuneCountyCrane County

Formentera Operations LLC in Crane County

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Dune field

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