STATE TRACT 520L NW/4
Operated by STERLING ENERGY, INC. (P-5 819004) in the EL GORDO (MIOCENE) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.
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 | 1,084 bbl | $30,480 |
| Casinghead gas | Production | 20,855 Mcf | $113,624 |
| Total | $144,103 | ||
Every month this lease reported (16)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
16 months
| Aug 2004 | 0 | 0 | 42.37 | 5.55 | $0 |
| Jul 2004 | 0 | 0 | 38.28 | 6.08 | $0 |
| Jun 2004 | 0 | 0 | 36.10 | 6.43 | $0 |
| May 2004 | 0 | 633 | 37.48 | 6.49 | $4,111 |
| Apr 2004 | 0 | 621 | 34.47 | 5.86 | $3,638 |
| Mar 2004 | 0 | 627 | 34.36 | 5.53 | $3,467 |
| Feb 2004 | 0 | 581 | 32.45 | 5.51 | $3,201 |
| Jan 2004 | 0 | 616 | 32.03 | 6.30 | $3,881 |
| Dec 2003 | 15 | 3,509 | 30.26 | 6.30 | $22,566 |
| Nov 2003 | 0 | 761 | 28.80 | 4.60 | $3,497 |
| Oct 2003 | 166 | 2,908 | 28.17 | 4.76 | $18,517 |
| Sep 2003 | 176 | 3,231 | 26.31 | 4.75 | $19,976 |
| Aug 2003 | 178 | 2,690 | 29.76 | 5.13 | $19,096 |
| Jul 2003 | 165 | 1,528 | 29.41 | 5.17 | $12,754 |
| Jun 2003 | 182 | 1,551 | 28.56 | 5.98 | $14,477 |
| May 2003 | 202 | 1,599 | 26.59 | 5.97 | $14,922 |
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 0 bbl × $ 37.48 = $0 Casinghead gas 633 Mcf × $ 6.49 = $4,111 ──────────────────────────────────────────────────── Month total $4,111
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/24392 is the state's own key, not one this site invented.