MARGO
Operated by NEWGULF PETROLEUM, LLC (P-5 606618) in the ARROYO GRANDE (QUEEN CITY) 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 18 leases and 26 wells, and the rule below applies to all of them.
The Commission's schedule remark for this field reads: “AOF-1 AND AOF-2 EFFECTIVE 04/01/2002.”
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 |
|---|---|---|---|
| Condensate | Disposition | 9,310 bbl | $215,043 |
| Gas | Production | 90,963 Mcf | $358,446 |
| Total | $573,488 | ||
Wells on this lease (1)
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 26.5509, -98.9961. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.0 miles.
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.
What the state filed about each well
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
The one well that filed a depth was drilled to 5,374 ft.
1 well
| 42-42733248 | 1 | 5,374 ft | Aug 2002 | — | Yes |
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 (22)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
22 months
| Oct 2002 | 0 | 0 | 26.46 | 4.23 | $0 |
| Sep 2002 | 0 | 0 | 27.44 | 3.64 | $0 |
| Aug 2002 | 154 | 0 | 25.96 | 3.16 | $3,998 |
| Jul 2002 | 539 | 0 | 24.58 | 3.06 | $13,249 |
| Jun 2002 | 715 | 67 | 23.73 | 3.34 | $17,191 |
| May 2002 | 356 | 956 | 24.66 | 3.58 | $12,205 |
| Apr 2002 | 534 | 1,056 | 23.65 | 3.51 | $16,338 |
| Mar 2002 | 180 | 1,452 | 22.00 | 3.10 | $8,465 |
| Feb 2002 | 181 | 651 | 18.22 | 2.38 | $4,844 |
| Jan 2002 | 359 | 918 | 17.17 | 2.38 | $8,345 |
| Dec 2001 | 527 | 1,796 | 16.93 | 2.36 | $13,169 |
| Nov 2001 | 363 | 2,811 | 18.07 | 2.41 | $13,321 |
| Oct 2001 | 538 | 4,178 | 19.78 | 2.53 | $21,207 |
| Sep 2001 | 724 | 5,053 | 24.26 | 2.25 | $28,940 |
| Aug 2001 | 713 | 8,020 | 24.87 | 3.05 | $42,219 |
| Jul 2001 | 725 | 10,656 | 23.93 | 3.20 | $51,417 |
| Jun 2001 | 805 | 11,717 | 24.56 | 3.82 | $64,578 |
| May 2001 | 825 | 15,572 | 25.52 | 4.31 | $88,128 |
| Apr 2001 | 706 | 15,603 | 24.68 | 5.34 | $100,671 |
| Mar 2001 | 366 | 10,457 | 24.54 | 5.38 | $65,203 |
| Feb 2001 | 0 | 0 | 27.75 | 5.77 | $0 |
| Jan 2001 | 0 | 0 | 27.47 | 8.40 | $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.
Condensate 154 bbl × $ 25.96 = $3,998 Gas 0 Mcf × $ 3.16 = $0 ──────────────────────────────────────────────────── Month total $3,998
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. 04/G/181357 is the state's own key, not one this site invented.