STATE TRACT 533

Operated by NOBLE ENERGY INC (P-5 611665) in the COLORADO DELTA (MIOCENE 6290) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Gas lease lease 78503District 03Field 19815500CondensateGasSaveExport
Value, all time
$25 k
Jan 1993 – Feb 2005
Value, last 12 filed months
$0
at the published price for each month
Months reported
146
no gaps in the span
Streams
2
condensate, gas

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 other leases, and the rule below applies to all of them.

Discovered
not filed
Field class
Gas
the register's own label
Between wells
1,200 ft
minimum
From a lease line
467 ft
minimum

A drilling unit in this field needs at least 40 acres.

The Commission's schedule remark for this field reads: FIELD RULES EFFECTIVE 7/1/79 PER SPEC ORDER 72414

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
CondensateDisposition257 bbl$3,604
GasProduction282,853 Mcf$21,406
Total$25,010

274,253 Mcf of this lease's gas, across 45 months, carries no value here. No free Texas wellhead gas price exists before 1997, so those months are left out of the total rather than valued at zero. The total above is therefore a floor, not an estimate.

Every month this lease reported (146)

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

146 months

Feb 20050045.226.31$0
Jan 20050043.166.32$0
Dec 20040039.866.75$0
Nov 20040045.286.33$0
Oct 20040049.706.52$0
Sep 20040043.245.28$0
Aug 20040042.375.55$0
Jul 20040038.286.08$0
Jun 20040036.106.43$0
May 20040037.486.49$0
Apr 20040034.475.86$0
Mar 20040034.365.53$0
Feb 20040032.455.51$0
Jan 20040032.036.30$0
Dec 20030030.266.30$0
Nov 20030028.804.60$0
Oct 20030028.174.76$0
Sep 20030026.314.75$0
Aug 20030029.765.13$0
Jul 20030029.415.17$0
Jun 20030028.565.98$0
May 20030026.595.97$0
Apr 20030026.675.41$0
Mar 20030031.146.10$0
Feb 20030033.487.93$0
Jan 20030030.315.58$0
Dec 20020026.914.85$0
Nov 20020024.664.14$0
Oct 20020026.464.23$0
Sep 20020027.443.64$0
Aug 20020025.963.16$0
Jul 20020024.583.06$0
Jun 20020023.733.34$0
May 20020024.663.58$0
Apr 20020023.653.51$0
Mar 20020022.003.10$0
Feb 20020018.222.38$0
Jan 20020017.172.38$0
Dec 20010016.932.36$0
Nov 20010018.072.41$0
Oct 20010019.782.53$0
Sep 20010024.262.25$0
Aug 20010024.873.05$0
Jul 20010023.933.20$0
Jun 20010024.563.82$0
May 20010025.524.31$0
Apr 20010024.685.34$0
Mar 20010024.545.38$0
Feb 20010027.755.77$0
Jan 20010027.478.40$0
Dec 20000026.889.12$0
Nov 20000032.215.66$0
Oct 20000031.235.15$0
Sep 20000031.875.19$0
Aug 20000029.644.54$0
Jul 20000028.534.09$0
Jun 20000029.304.40$0
May 20000027.263.68$0
Apr 20000024.513.12$0
Mar 20000028.422.86$0
Feb 20000027.622.73$0
Jan 20000025.272.48$0
Dec 19990024.282.42$0
Nov 19990023.192.43$0
Oct 19990020.982.80$0
Sep 19990021.752.62$0
Aug 19990019.262.88$0
Jul 19990017.892.37$0
Jun 199910317015.942.36$2,043
May 1999064015.792.32$1,485
Apr 19990015.102.21$0
Mar 19990012.471.84$0
Feb 1999009.981.82$0
Jan 19990010.381.90$0
Dec 1998009.201.77$0
Nov 19980010.892.19$0
Oct 199801512.421.97$30
Sep 1998014512.592.08$302
Aug 1998026611.301.91$507
Jul 1998029611.742.24$662
Jun 1998028611.242.24$640
May 1998028012.622.21$618
Apr 1998025213.042.51$631
Mar 1998032812.802.31$758
Feb 1998023913.952.30$549
Jan 1998022614.702.15$487
Dec 1997046016.322.41$1,109
Nov 1997044518.193.09$1,374
Oct 1997054419.253.15$1,714
Sep 1997055217.742.95$1,631
Aug 1997058517.862.55$1,495
Jul 1997037017.582.25$831
Jun 1997027117.242.26$612
May 1997028418.972.31$656
Apr 1997021017.882.08$437
Mar 1997053118.951.94$1,030
Feb 1997061420.492.21$1,354
Jan 1997059123.483.54$2,092
Dec 1996049723.32$0
Nov 1996063721.97$0
Oct 199608323.31$0
Sep 19960022.22$0
Aug 1996023420.26$0
Jul 199601,03719.55$0
Jun 19960018.73$0
May 199601,62219.43$0
Apr 199603,67021.51$0
Mar 199604,62719.38$0
Feb 199603,80916.98$0
Jan 199604,34917.07$0
Dec 199505,35317.19$0
Nov 199504,92416.00$0
Oct 199505,04115.43$0
Sep 199505,65516.18$0
Aug 199508,42015.92$0
Jul 199555,08915.24$76
Jun 199504,62916.41$0
May 199504,02717.56$0
Apr 199505,46417.73$0
Mar 199506,67316.44$0
Feb 199506,59616.58$0
Jan 199506,96015.92$0
Dec 199408,04715.03$0
Nov 199409,51315.90$0
Oct 1994010,14315.58$0
Sep 199408,76715.29$0
Aug 199409,75016.13$0
Jul 199409,02917.56$0
Jun 199407,34217.09$0
May 199407,16515.88$0
Apr 199407,32214.14$0
Mar 199407,64312.46$0
Feb 199405,35812.50$0
Jan 1994149012.66$1,886
Dec 1993095312.33$0
Nov 199303,85714.49$0
Oct 199306,73315.85$0
Sep 199304,16515.03$0
Aug 199306,28915.66$0
Jul 199306,99715.46$0
Jun 199307,90716.79$0
May 199306,38417.68$0
Apr 199302,67318.05$0
Mar 1993012,96418.14$0
Feb 1993014,56417.90$0
Jan 1993021,29216.93$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.

Jun 1999 — as filed, then multipliedworked
Condensate           103 bbl  × $ 15.94 =     $1,642
Gas                  170 Mcf  × $  2.36 =       $402

────────────────────────────────────────────────────
Month total                                   $2,043

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/78503 is the state's own key, not one this site invented.