FAITH-STATE-RINCON 'E' UNIT
Operated by STRAND ENERGY, L.C. (P-5 824758) in the HUGH FITZSIMMONS (SAN MIGUEL) 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 93 leases and 855 wells, and the rule below applies to all of them.
A drilling unit in this field needs at least 20 acres. The field rule took effect on 2024-12-17.
The Commission's schedule remark for this field reads: “BETWEEN WELL EXCEPTION FOR VERTICAL WELLS, UFT ALLOWABLE,”
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 | 171,374 bbl | $11,880,791 |
| Casinghead gas | Production | 484,353 Mcf | $2,188,445 |
| Total | $14,069,235 | ||
Every month this lease reported (8)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
8 months
| May 2026 | 6,300 | 18,972 | 106.41 | 3.05 | $728,169 |
| Apr 2026 | 20,572 | 77,113 | 98.93 | 2.87 | $2,256,481 |
| Mar 2026 | 20,272 | 62,619 | 89.75 | 3.15 | $2,016,627 |
| Feb 2026 | 23,408 | 92,355 | 63.50 | 3.75 | $1,832,769 |
| Jan 2026 | 31,057 | 102,662 | 59.13 | 8.00 | $2,657,483 |
| Dec 2025 | 32,356 | 79,402 | 56.66 | 4.41 | $2,183,721 |
| Nov 2025 | 27,390 | 40,173 | 58.59 | 3.93 | $1,762,517 |
| Oct 2025 | 10,019 | 11,057 | 59.38 | 3.30 | $631,470 |
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 6,300 bbl × $106.41 = $670,383 Casinghead gas 18,972 Mcf × $ 3.05 = $57,786 ──────────────────────────────────────────────────── Month total $728,169
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/21871 is the state's own key, not one this site invented.