PETTY RANCH
Operated by KERNS O & G, INC. (P-5 457700) in the CATARINA, SW (SAN MIGUEL,OIL) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.
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 15 leases and 22 wells, and the rule below applies to all of them.
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.
| Stream | Basis | Volume | Value |
|---|---|---|---|
| Oil | Disposition | 28,473 bbl | $741,887 |
| Casinghead gas | Production | 117,483 Mcf | $594,624 |
| Total | $1,336,511 | ||
Every month this lease reported (39)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
39 months
| Jan 2004 | 0 | 0 | 32.03 | 6.30 | $0 |
| Dec 2003 | 0 | 0 | 30.26 | 6.30 | $0 |
| Nov 2003 | 0 | 0 | 28.80 | 4.60 | $0 |
| Oct 2003 | 0 | 0 | 28.17 | 4.76 | $0 |
| Sep 2003 | 0 | 0 | 26.31 | 4.75 | $0 |
| Aug 2003 | 0 | 0 | 29.76 | 5.13 | $0 |
| Jul 2003 | 0 | 0 | 29.41 | 5.17 | $0 |
| Jun 2003 | 0 | 0 | 28.56 | 5.98 | $0 |
| May 2003 | 0 | 0 | 26.59 | 5.97 | $0 |
| Apr 2003 | 0 | 0 | 26.67 | 5.41 | $0 |
| Mar 2003 | 0 | 0 | 31.14 | 6.10 | $0 |
| Feb 2003 | 0 | 0 | 33.48 | 7.93 | $0 |
| Jan 2003 | 0 | 0 | 30.31 | 5.58 | $0 |
| Dec 2002 | 0 | 0 | 26.91 | 4.85 | $0 |
| Nov 2002 | 0 | 0 | 24.66 | 4.14 | $0 |
| Oct 2002 | 0 | 0 | 26.46 | 4.23 | $0 |
| Sep 2002 | 0 | 0 | 27.44 | 3.64 | $0 |
| Aug 2002 | 0 | 0 | 25.96 | 3.16 | $0 |
| Jul 2002 | 0 | 0 | 24.58 | 3.06 | $0 |
| Jun 2002 | 0 | 0 | 23.73 | 3.34 | $0 |
| May 2002 | 0 | 0 | 24.66 | 3.58 | $0 |
| Apr 2002 | 0 | 0 | 23.65 | 3.51 | $0 |
| Mar 2002 | 0 | 0 | 22.00 | 3.10 | $0 |
| Feb 2002 | 0 | 0 | 18.22 | 2.38 | $0 |
| Jan 2002 | 0 | 0 | 17.17 | 2.38 | $0 |
| Dec 2001 | 0 | 0 | 16.93 | 2.36 | $0 |
| Nov 2001 | 0 | 0 | 18.07 | 2.41 | $0 |
| Oct 2001 | 393 | 0 | 19.78 | 2.53 | $7,774 |
| Sep 2001 | 1,707 | 18,913 | 24.26 | 2.25 | $83,991 |
| Aug 2001 | 2,786 | 17,781 | 24.87 | 3.05 | $123,576 |
| Jul 2001 | 0 | 0 | 23.93 | 3.20 | $0 |
| Jun 2001 | 446 | 0 | 24.56 | 3.82 | $10,954 |
| May 2001 | 2,879 | 17,679 | 25.52 | 4.31 | $149,621 |
| Apr 2001 | 1,749 | 13,653 | 24.68 | 5.34 | $116,008 |
| Mar 2001 | 4,013 | 13,240 | 24.54 | 5.38 | $169,663 |
| Feb 2001 | 4,659 | 12,487 | 27.75 | 5.77 | $201,301 |
| Jan 2001 | 5,983 | 15,075 | 27.47 | 8.40 | $290,964 |
| Dec 2000 | 3,858 | 8,655 | 26.88 | 9.12 | $182,658 |
| Nov 2000 | 0 | 0 | 32.21 | 5.66 | $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.
Oil 393 bbl × $ 19.78 = $7,774 Casinghead gas 0 Mcf × $ 2.53 = $0 ──────────────────────────────────────────────────── Month total $7,774
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/O/14322 is the state's own key, not one this site invented.