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GALVAN RANCH

Operated by SM ENERGY COMPANY (P-5 788997) in the LORENZO (AUSTIN CHALK) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Gas lease lease 289721District 01Field 54928500Hydrogen sulphide fieldCondensateGasSaveExport
Value, all time
$47.6 M
May 2020 – May 2026
Value, last 12 filed months
$2.7 M
at the published price for each month
Months reported
73
no gaps in the span
Streams
2
condensate, gas

The LORENZO (AUSTIN CHALK) field

The Railroad Commission's own record for the field this lease produces from, including the spacing rule that governs how close together its wells may be drilled.

These are facts about the field, not about this lease. The field holds 484 leases and 599 wells, and the rule below applies to all of them.

Discovered
2009-10-26
as the register files it
Field class
Oil and gas
the register's own label
Between wells
0 ft
minimum
From a lease line
330 ft
minimum

A drilling unit in this field needs at least 40 acres. The field rule took effect on 2023-08-22.

The register flags this field for hydrogen sulphide. That is a poisonous gas that occurs naturally in some formations. The flag is a property of the field as the Commission records it. It is not a measurement taken at this lease, and it is not a statement that gas is escaping anywhere.

The Commission's schedule remark for this field reads: “A UFT FIELD. FIELD GETS UFT ALLOWABLE, EFFECTIVE 08-22-2023”

What this lease produced, and what it was worth

Oil and condensate are valued on the volume the state records as disposed of; gas and casinghead gas on the volume produced. They are different columns of different files, and the difference is not cosmetic.

StreamBasisVolumeValue
CondensateDisposition348,156 bbl$26,611,010
GasProduction5,010,047 Mcf$21,018,208
Total$47,629,218

Every month this lease reported (73)

Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.

73 months

May 202600106.413.05$0
Apr 20261,53331,41898.932.87$241,821
Mar 20261,36827,58489.753.15$209,652
Feb 20261,40927,80063.503.75$193,730
Jan 20262,03031,89459.138.00$375,120
Dec 20251,85732,18956.664.41$247,279
Nov 20251,74931,27258.593.93$225,262
Oct 20251,92633,54359.383.30$225,220
Sep 20251,89032,72062.743.08$219,255
Aug 20251,89234,28863.933.01$224,326
Jul 20252,03334,97366.743.32$251,625
Jun 20252,07734,19866.483.13$245,075
May 20252,10835,89860.553.23$243,673
Apr 20252,23435,19562.363.54$264,012
Mar 20252,14637,13667.704.27$303,793
Feb 20252,10834,40370.884.34$298,753
Jan 20252,41438,84574.324.28$345,614
Dec 20242,45639,33068.993.12$292,203
Nov 20242,29739,63069.052.20$245,732
Oct 20242,43641,97171.372.28$269,610
Sep 20242,24641,62169.612.36$254,751
Aug 20242,25244,73975.632.06$262,644
Jul 20241,89240,20379.932.15$237,527
Jun 20242,49243,43078.082.63$308,969
May 20242,44345,60278.812.20$292,786
Apr 20242,55445,25384.451.66$290,769
Mar 20242,90147,32780.301.55$306,077
Feb 20242,86844,49076.091.78$297,580
Jan 20242,93548,81673.023.30$375,292
Dec 20233,21349,94971.262.61$359,361
Nov 20233,02049,41877.892.81$373,972
Oct 20232,89051,56085.443.09$406,102
Sep 20232,91452,02089.042.74$401,739
Aug 20233,35464,35380.522.67$442,072
Jul 20233,03964,39474.852.64$397,585
Jun 20233,01562,34568.962.26$348,719
May 20234,23269,59770.622.23$453,884
Apr 20234,59471,48378.122.24$518,845
Mar 20234,30479,92572.852.39$504,820
Feb 20233,86585,53275.112.47$501,195
Jan 20233,99065,69176.533.39$527,897
Dec 20226,08594,86476.415.73$1,008,438
Nov 20226,484111,54985.005.65$1,180,968
Oct 20229,699176,48287.185.86$1,880,407
Sep 20221,97331,30084.888.16$422,991
Aug 2022286094.529.13$27,033
Jul 20223,32662,352101.587.54$808,119
Jun 20226,476119,936115.097.98$1,702,076
May 20227,399128,689109.378.43$1,894,468
Apr 20228,024131,194104.226.84$1,733,313
Mar 202210,000144,694108.885.08$1,823,325
Feb 20228,087128,99391.054.86$1,363,078
Jan 202211,717147,76181.844.54$1,629,411
Dec 202112,170181,88571.323.90$1,577,156
Nov 202113,611189,70577.435.24$2,047,356
Oct 202114,958192,05879.795.71$2,290,893
Sep 202116,003192,89869.865.35$2,150,151
Aug 202118,887218,53366.024.22$2,169,258
Jul 202122,304245,71270.783.98$2,557,122
Jun 202126,888252,70769.493.38$2,722,753
May 202132,212341,70463.483.02$3,075,968
Apr 20218,59194,99660.362.76$780,592
Mar 20210061.302.72$0
Feb 20210057.805.55$0
Jan 20210050.412.81$0
Dec 20200044.642.68$0
Nov 20200038.772.71$0
Oct 20200036.972.48$0
Sep 20200037.091.99$0
Aug 20200039.982.39$0
Jul 20200038.371.83$0
Jun 20200034.901.69$0
May 20200016.921.81$0

How to read this page

The arithmetic is one multiplication per stream per month. Here it is, worked, on a real row from the table above.

Apr 2026 — as filed, then multipliedworked
Condensate         1,533 bbl  × $ 98.93 =   $151,660
Gas               31,418 Mcf  × $  2.87 =    $90,161

────────────────────────────────────────────────────
Month total                                 $241,821

The volumes are the state's, unchanged

Every barrel and every Mcf on this page is a number the Railroad Commission of Texas published in its monthly production query. Nothing is modelled, estimated or filled in.

The dollars are a multiplication, not a valuation

Volume × a published monthly price. It is not what the operator was paid: it takes no account of a contract, a differential, a transportation deduction, or the share any one owner holds.

Oil and gas are priced differently

Oil is a Texas realisation — the crude oil first purchase price. Gas is a benchmark, because no free Texas wellhead gas series exists at any date. The prices page publishes the difference rather than correcting it away.

A lease is not a well

The state reports oil on lease and gas on well, and this page is the lease grain. 01/G/289721 is the state's own key, not one this site invented.