MILES TIMBER
Operated by SEM OPERATING COMPANY LLC (P-5 766370) in the FORT TRINIDAD (GLEN ROSE, UPPER) 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 145 leases and 145 wells, and the rule below applies to all of them.
A drilling unit in this field needs at least 640 acres.
The Commission's schedule remark for this field reads: “NO GREATER THAN THE YARDSTICK OF 845 BBLS/DAY FOR 640 AC WELL.”
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 |
|---|---|---|---|
| Condensate | Disposition | 42,922 bbl | $4,036,708 |
| Gas | Production | 286,252 Mcf | $904,848 |
| Total | $4,941,556 | ||
Every month this lease reported (34)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
34 months
| Sep 2014 | 0 | 0 | 86.16 | 4.05 | $0 |
| Aug 2014 | 359 | 2,393 | 89.39 | 4.04 | $41,747 |
| Jul 2014 | 179 | 1,913 | 96.56 | 4.18 | $25,280 |
| Jun 2014 | 360 | 2,331 | 98.16 | 4.74 | $46,379 |
| May 2014 | 188 | 1,562 | 94.73 | 4.73 | $25,192 |
| Apr 2014 | 179 | 2,687 | 95.94 | 4.81 | $30,095 |
| Mar 2014 | 181 | 2,395 | 95.89 | 5.06 | $29,467 |
| Feb 2014 | 523 | 3,551 | 97.40 | 6.19 | $72,928 |
| Jan 2014 | 538 | 4,747 | 90.40 | 4.86 | $71,709 |
| Dec 2013 | 527 | 4,792 | 91.82 | 4.35 | $69,256 |
| Nov 2013 | 492 | 4,628 | 88.85 | 3.74 | $61,015 |
| Oct 2013 | 677 | 5,177 | 97.42 | 3.78 | $85,519 |
| Sep 2013 | 358 | 3,037 | 104.11 | 3.72 | $48,562 |
| Aug 2013 | 369 | 3,867 | 104.25 | 3.52 | $52,090 |
| Jul 2013 | 653 | 7,655 | 102.52 | 3.72 | $95,405 |
| Jun 2013 | 308 | 2,000 | 94.40 | 3.93 | $36,942 |
| May 2013 | 714 | 4,279 | 94.83 | 4.15 | $85,463 |
| Apr 2013 | 666 | 5,024 | 93.96 | 4.28 | $84,093 |
| Mar 2013 | 722 | 7,717 | 93.62 | 3.91 | $97,789 |
| Feb 2013 | 731 | 3,871 | 91.23 | 3.42 | $79,928 |
| Jan 2013 | 931 | 6,910 | 91.60 | 3.42 | $108,911 |
| Dec 2012 | 893 | 9,526 | 86.77 | 3.42 | $110,066 |
| Nov 2012 | 1,098 | 8,132 | 86.95 | 3.62 | $124,949 |
| Oct 2012 | 1,057 | 8,943 | 89.38 | 3.40 | $124,878 |
| Sep 2012 | 1,502 | 9,224 | 94.67 | 2.92 | $169,114 |
| Aug 2012 | 1,713 | 10,113 | 92.66 | 2.91 | $188,137 |
| Jul 2012 | 2,761 | 10,680 | 85.13 | 3.02 | $267,306 |
| Jun 2012 | 4,206 | 12,539 | 79.82 | 2.52 | $367,309 |
| May 2012 | 2,841 | 12,599 | 91.61 | 2.49 | $291,614 |
| Apr 2012 | 2,825 | 20,441 | 101.65 | 2.00 | $327,978 |
| Mar 2012 | 3,172 | 17,443 | 105.05 | 2.22 | $371,978 |
| Feb 2012 | 2,742 | 18,601 | 101.10 | 2.57 | $325,025 |
| Jan 2012 | 3,448 | 32,842 | 98.09 | 2.73 | $428,007 |
| Dec 2011 | 5,009 | 34,633 | 96.87 | 3.24 | $597,424 |
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.
Condensate 359 bbl × $ 89.39 = $32,091 Gas 2,393 Mcf × $ 4.04 = $9,656 ──────────────────────────────────────────────────── Month total $41,747
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. 03/G/265036 is the state's own key, not one this site invented.