COTTON
Operated by SQUARE MILE ENERGY, L.L.C. (P-5 810815) in the SUBLIME, N. (YEGUA 4350) 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 3 leases and 3 wells, and the rule below applies to all of them.
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 | 74 bbl | $5,942 |
| Casinghead gas | Production | 142,769 Mcf | $415,884 |
| Total | $421,826 | ||
Every month this lease reported (21)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
21 months
| May 2024 | 0 | 0 | 78.81 | 2.20 | $0 |
| Apr 2024 | 0 | 0 | 84.45 | 1.66 | $0 |
| Mar 2024 | 74 | 0 | 80.30 | 1.55 | $5,942 |
| Feb 2024 | 0 | 0 | 76.09 | 1.78 | $0 |
| Jan 2024 | 0 | 0 | 73.02 | 3.30 | $0 |
| Dec 2023 | 0 | 0 | 71.26 | 2.61 | $0 |
| Nov 2023 | 0 | 0 | 77.89 | 2.81 | $0 |
| Oct 2023 | 0 | 0 | 85.44 | 3.09 | $0 |
| Sep 2023 | 0 | 13,739 | 89.04 | 2.74 | $37,577 |
| Aug 2023 | 0 | 11,791 | 80.52 | 2.67 | $31,516 |
| Jul 2023 | 0 | 13,135 | 74.85 | 2.64 | $34,700 |
| Jun 2023 | 0 | 12,126 | 68.96 | 2.26 | $27,386 |
| May 2023 | 0 | 14,597 | 70.62 | 2.23 | $32,513 |
| Apr 2023 | 0 | 15,921 | 78.12 | 2.24 | $35,627 |
| Mar 2023 | 0 | 15,660 | 72.85 | 2.39 | $37,477 |
| Feb 2023 | 0 | 13,203 | 75.11 | 2.47 | $32,554 |
| Jan 2023 | 0 | 17,177 | 76.53 | 3.39 | $58,191 |
| Dec 2022 | 0 | 15,420 | 76.41 | 5.73 | $88,342 |
| Nov 2022 | 0 | 0 | 85.00 | 5.65 | $0 |
| Oct 2022 | 0 | 0 | 87.18 | 5.86 | $0 |
| Sep 2022 | 0 | 0 | 84.88 | 8.16 | $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 74 bbl × $ 80.30 = $5,942 Casinghead gas 0 Mcf × $ 1.55 = $0 ──────────────────────────────────────────────────── Month total $5,942
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/27991 is the state's own key, not one this site invented.