STATE TRACT 98-L
Operated by WHITING PETROLEUM CORPORATION (P-5 920480) in the BLOCK 98-L (AMPH B) 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 other leases, and the rule below applies to all of them.
The Commission's schedule remark for this field reads: “FIELD ADMINISTRATIVELY BALANCED EFF 1-1-02 PER OPERATOR REQUEST”
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 | 41,902 bbl | $1,026,165 |
| Casinghead gas | Production | 116,622 Mcf | $520,909 |
| Total | $1,547,074 | ||
Every month this lease reported (18)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
18 months
| 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 | 126 | 0 | 18.07 | 2.41 | $2,277 |
| Oct 2001 | 1,634 | 0 | 19.78 | 2.53 | $32,321 |
| Sep 2001 | 840 | 0 | 24.26 | 2.25 | $20,378 |
| Aug 2001 | 4,288 | 8,541 | 24.87 | 3.05 | $132,720 |
| Jul 2001 | 8,172 | 22,168 | 23.93 | 3.20 | $266,429 |
| Jun 2001 | 7,971 | 17,300 | 24.56 | 3.82 | $261,926 |
| May 2001 | 8,913 | 16,936 | 25.52 | 4.31 | $300,409 |
| Apr 2001 | 9,958 | 21,860 | 24.68 | 5.34 | $362,394 |
| Mar 2001 | 0 | 9,560 | 24.54 | 5.38 | $51,399 |
| Feb 2001 | 0 | 20,257 | 27.75 | 5.77 | $116,824 |
| Jan 2001 | 0 | 0 | 27.47 | 8.40 | $0 |
| Dec 2000 | 0 | 0 | 26.88 | 9.12 | $0 |
| Nov 2000 | 0 | 0 | 32.21 | 5.66 | $0 |
| Oct 2000 | 0 | 0 | 31.23 | 5.15 | $0 |
| Sep 2000 | 0 | 0 | 31.87 | 5.19 | $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 126 bbl × $ 18.07 = $2,277 Casinghead gas 0 Mcf × $ 2.41 = $0 ──────────────────────────────────────────────────── Month total $2,277
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/O/23973 is the state's own key, not one this site invented.