CALVERT
Operated by MUSTANG DRILLING, INC. (P-5 596917) in the FORT TRINIDAD, EAST (BUDA) 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 310 leases and 403 wells, and the rule below applies to all of them.
A drilling unit in this field needs at least 80 acres. The field rule took effect on 2016-02-23.
The Commission's schedule remark for this field reads: “DUE TO COMPUTER RESTRAINTS THE HIGHEST POSSIBLE TOP IS 3499”
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 | 904 bbl | $59,389 |
| Casinghead gas | Production | 27 Mcf | $207 |
| Total | $59,596 | ||
Every month this lease reported (43)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
43 months
| Apr 2009 | 0 | 0 | 46.77 | 3.59 | $0 |
| Mar 2009 | 0 | 0 | 42.14 | 4.06 | $0 |
| Feb 2009 | 0 | 0 | 32.81 | 4.63 | $0 |
| Jan 2009 | 0 | 0 | 35.86 | 5.37 | $0 |
| Dec 2008 | 0 | 0 | 37.10 | 5.98 | $0 |
| Nov 2008 | 0 | 0 | 55.49 | 6.86 | $0 |
| Oct 2008 | 0 | 0 | 75.24 | 6.92 | $0 |
| Sep 2008 | 0 | 0 | 101.76 | 7.88 | $0 |
| Aug 2008 | 0 | 0 | 114.22 | 8.48 | $0 |
| Jul 2008 | 0 | 0 | 131.08 | 11.39 | $0 |
| Jun 2008 | 0 | 0 | 131.33 | 13.03 | $0 |
| May 2008 | 0 | 0 | 123.17 | 11.57 | $0 |
| Apr 2008 | 0 | 0 | 110.31 | 10.45 | $0 |
| Mar 2008 | 0 | 0 | 101.90 | 9.66 | $0 |
| Feb 2008 | 0 | 0 | 92.53 | 8.77 | $0 |
| Jan 2008 | 0 | 0 | 90.38 | 8.21 | $0 |
| Dec 2007 | 172 | 1 | 88.33 | 7.30 | $15,200 |
| Nov 2007 | 0 | 1 | 91.67 | 7.29 | $7 |
| Oct 2007 | 1 | 1 | 82.85 | 6.92 | $90 |
| Sep 2007 | 0 | 1 | 75.84 | 6.24 | $6 |
| Aug 2007 | 175 | 1 | 69.06 | 6.39 | $12,092 |
| Jul 2007 | 0 | 1 | 70.90 | 6.39 | $6 |
| Jun 2007 | 0 | 1 | 62.00 | 7.55 | $8 |
| May 2007 | 0 | 1 | 58.74 | 7.85 | $8 |
| Apr 2007 | 182 | 1 | 59.61 | 7.81 | $10,857 |
| Mar 2007 | 0 | 1 | 56.92 | 7.30 | $7 |
| Feb 2007 | 0 | 1 | 55.10 | 8.22 | $8 |
| Jan 2007 | 0 | 1 | 50.30 | 6.73 | $7 |
| Dec 2006 | 0 | 1 | 56.65 | 6.92 | $7 |
| Nov 2006 | 0 | 1 | 54.20 | 7.62 | $8 |
| Oct 2006 | 0 | 1 | 54.90 | 6.01 | $6 |
| Sep 2006 | 0 | 1 | 60.08 | 5.04 | $5 |
| Aug 2006 | 0 | 1 | 68.71 | 7.34 | $7 |
| Jul 2006 | 1 | 1 | 69.37 | 6.34 | $76 |
| Jun 2006 | 0 | 1 | 66.28 | 6.38 | $6 |
| May 2006 | 0 | 1 | 66.01 | 6.42 | $6 |
| Apr 2006 | 0 | 1 | 64.39 | 7.36 | $7 |
| Mar 2006 | 322 | 1 | 56.70 | 7.08 | $18,264 |
| Feb 2006 | 18 | 1 | 57.59 | 7.75 | $1,044 |
| Jan 2006 | 1 | 1 | 60.59 | 8.93 | $70 |
| Dec 2005 | 21 | 1 | 54.94 | 13.42 | $1,167 |
| Nov 2005 | 11 | 1 | 54.69 | 10.59 | $612 |
| Oct 2005 | 0 | 1 | 58.34 | 13.80 | $14 |
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 172 bbl × $ 88.33 = $15,193 Casinghead gas 1 Mcf × $ 7.30 = $7 ──────────────────────────────────────────────────── Month total $15,200
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/24799 is the state's own key, not one this site invented.