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IRON DUKE

Operated by REED EXPLORATION LLC (P-5 102257) 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.

Oil lease lease 26879District 03Field 32157071OilCasinghead gasSaveExport
Value, all time
$7.1 M
May 2015 – May 2026
Value, last 12 filed months
$239 k
at the published price for each month
Months reported
133
no gaps in the span
Streams
2
oil, casinghead gas

The FORT TRINIDAD, EAST (BUDA) field

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.

Discovered
1965-04-27
as the register files it
Field class
Oil and gas
the register's own label
Between wells
933 ft
minimum
From a lease line
467 ft
minimum

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.

StreamBasisVolumeValue
OilDisposition86,731 bbl$4,260,548
Casinghead gasProduction948,576 Mcf$2,841,504
Total$7,102,052

Wells on this lease (3)

Every wellbore the Railroad Commission records against this lease key, with the depth, the last completion and the plug date exactly as filed. A well with no plug date is not stated to be producing — the state files no such flag.

These wells centre on 30.8880, -95.8659. A lease has no coordinate of its own — that point is the mean of its wells, and they span 2.2 miles.

30.88301, -95.86557 · centre of the wells drawn, derived

What these wells add up to

Every figure below is counted over all of this lease's wells, not over the rows listed above. The Railroad Commission files two facts about a well's state — a plug date and a proration-schedule flag — and a well can carry both, so they are published as separate counts and never merged into a status.

On the schedule
33.3%
1 of 3 wells
With a plug date
33.3%
1 of 3 wells
Median depth
11,625 ft
3 wells filed one
Completion to plug
4.2 years
median over 1 well

What the state filed about each well

On the RRC proration schedule
133.3%
A plug date is filed
133.3%
BothOn the schedule and plugged. Neither fact cancels the other.
133.3%
NeitherNo plug date, and not on the schedule.
266.7%

A plug date is the date the Commission recorded the wellbore as sealed with cement and abandoned. It is the only end-of-life fact Texas files. There is no "active" flag on a well, so this page does not print one — a well with no plug date is not stated to be producing.

How deep they were drilled

Between 9,392 and 12,100 ft, median 11,625 ft, over the 3 wells that filed a depth.

Completions filed
May 2015 – Apr 2017
3 of 3 wells
Plug dates filed
Jun 2021
1 of 3 wells; 2 filed none

Last completion to plug: a median of 4.2 years across the 1 well that filed both dates, with the middle half between 4.2 years and 4.2 years. The gap is the distance between two filed dates. It is not a statement of how long the well produced.

3 wells

42-313313331H9,392 ftApr 2017Jun 2021Yes
42-31331302311,625 ftNov 2015——
42-31331276112,100 ftMay 2015——

The API number is the state's, prefixed 42 for Texas. A well is matched to this lease by the lease key the Commission files on the wellbore record, so a well that has moved between leases appears under each one it was filed against.

Every month this lease reported (133)

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

133 months

May 20261801,735106.413.05$24,438
Apr 20261801,71898.932.87$22,738
Mar 202601,77589.753.15$5,590
Feb 20261901,24663.503.75$16,738
Jan 2026751,74459.138.00$18,383
Dec 20251751,87856.664.41$18,204
Nov 20251922,00558.593.93$19,122
Oct 20251862,38359.383.30$18,920
Sep 20253762,65062.743.08$31,744
Aug 202501,82063.933.01$5,487
Jul 20252642,20166.743.32$24,916
Jun 20253722,46166.483.13$32,430
May 20253576,04260.553.23$41,146
Apr 20250062.363.54$0
Mar 20250067.704.27$0
Feb 2025015170.884.34$655
Jan 20254052,64374.324.28$41,408
Dec 2024531,92668.993.12$9,668
Nov 2024802,00869.052.20$9,938
Oct 20241681,27571.372.28$14,899
Sep 202401,77069.612.36$4,185
Aug 20243682,25775.632.06$32,489
Jul 20245143,29279.932.15$48,151
Jun 20243772,17278.082.63$35,157
May 2024520078.812.20$40,981
Apr 20240084.451.66$0
Mar 20240080.301.55$0
Feb 20240076.091.78$0
Jan 20240073.023.30$0
Dec 20230071.262.61$0
Nov 20230077.892.81$0
Oct 20230085.443.09$0
Sep 20230089.042.74$0
Aug 20230080.522.67$0
Jul 2023382074.852.64$28,593
Jun 2023179068.962.26$12,344
May 20237644,26070.622.23$63,442
Apr 202303678.122.24$81
Mar 2023317072.852.39$23,093
Feb 20233802,93575.112.47$35,779
Jan 202302,90876.533.39$9,851
Dec 20223804,71376.415.73$56,037
Nov 20221965,00585.005.65$44,919
Oct 20223774,80887.185.86$61,060
Sep 202202,17384.888.16$17,740
Aug 20223705,89194.529.13$88,741
Jul 20223726,515101.587.54$86,924
Jun 20223634,410115.097.98$76,957
May 20221814,826109.378.43$60,494
Apr 20225514,977104.226.84$91,456
Mar 20223815,600108.885.08$69,911
Feb 20225714,76991.054.86$75,161
Jan 20221805,21981.844.54$38,413
Dec 20213785,65571.323.90$49,008
Nov 20213794,39377.435.24$52,351
Oct 20215555,54179.795.71$75,944
Sep 20215695,54869.865.35$69,437
Aug 20217615,39966.024.22$73,028
Jul 20213825,21770.783.98$47,812
Jun 20215594,89169.493.38$55,380
May 20211925,60063.483.02$29,087
Apr 20215665,35460.362.76$48,932
Mar 20215665,77961.302.72$50,397
Feb 20213833,89357.805.55$43,736
Jan 20215525,82150.412.81$44,185
Dec 20205485,90344.642.68$40,256
Nov 20203625,40138.772.71$28,653
Oct 20203686,64336.972.48$30,069
Sep 20205586,61837.091.99$33,873
Aug 20201825,33939.982.39$20,010
Jul 20203674,31338.371.83$21,954
Jun 20205477,15434.901.69$31,183
May 20200016.921.81$0
Apr 20205526,20014.751.80$19,329
Mar 20205646,86930.341.86$29,862
Feb 20203836,37149.881.98$31,723
Jan 20201816,33957.252.09$23,641
Dec 20197426,07559.012.30$57,784
Nov 20193706,31455.302.75$37,829
Oct 20193675,85053.472.42$33,772
Sep 20193755,80755.052.66$36,075
Aug 20193786,48253.112.30$35,012
Jul 20197488,30956.272.46$62,531
Jun 20195667,72652.782.49$49,120
May 20195617,38758.482.74$53,050
Apr 20195738,85362.632.75$60,239
Mar 20191917,76456.803.06$34,623
Feb 20195747,65950.852.79$50,574
Jan 20193826,78246.033.23$39,477
Dec 20183765,84746.594.19$41,990
Nov 20183726,53852.934.24$47,393
Oct 20185547,58061.443.40$59,795
Sep 20183737,68959.543.11$46,106
Aug 20187477,51059.403.07$67,402
Jul 20185618,18365.142.93$60,535
Jun 20185657,12260.183.08$55,916
May 20185557,65465.382.90$58,489
Apr 201856910,25463.842.90$66,070
Mar 201874712,26261.222.79$79,904
Feb 201874111,47661.782.77$77,523
Jan 201855811,09162.874.01$79,549
Dec 20179459,76657.272.92$82,652
Nov 20171,06713,79355.423.12$102,145
Oct 20171,86414,70249.292.98$135,743
Sep 20172,39616,24747.523.09$164,017
Aug 201737710,76945.373.00$49,459
Jul 201757911,51943.873.09$60,963
Jun 20173739,58042.493.09$45,425
May 201756611,19645.373.26$62,216
Apr 20177656,66747.933.21$58,078
Mar 20177689,04746.772.98$62,913
Feb 20177678,58250.452.95$64,034
Jan 20171,11510,51949.413.42$91,055
Dec 201692914,97448.763.72$101,044
Nov 20161,31220,06942.492.64$108,816
Oct 201675010,24846.193.09$66,311
Sep 20161,47812,76041.553.10$100,975
Aug 20161,30214,00541.442.92$94,910
Jul 20161,85418,28741.622.92$130,641
Jun 20162,19518,72845.352.69$149,843
May 20162,39425,28042.521.99$152,126
Apr 20163,44624,97036.561.99$175,702
Mar 20164,16334,23533.011.79$198,839
Feb 20164,27832,58926.472.06$180,490
Jan 20164,79234,75727.352.36$213,239
Dec 20155,72945,28632.362.00$276,026
Nov 20152,44235,44938.792.17$171,555
Oct 20152,23922,24943.552.43$151,497
Sep 20151906,58442.992.76$26,330
Aug 20150040.162.87$0
Jul 20150048.152.95$0
Jun 201556544056.152.88$32,993
May 20151,11610,62755.212.96$93,022

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.

May 2026 — as filed, then multipliedworked
Oil                  180 bbl  × $106.41 =    $19,154
Casinghead gas     1,735 Mcf  × $  3.05 =     $5,285

────────────────────────────────────────────────────
Month total                                  $24,438

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/26879 is the state's own key, not one this site invented.