REAGAN 'H' FEE

Name: REAGAN 'H' FEE lease production and value, Jan 1996 onwards
Creator: Railroad Commission of Texas
License: https://www.rrc.texas.gov/site-policies/

Operated by CHEVRON U. S. A. INC. (P-5 148113) in the CONGER, SW (PENN) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Gas lease lease 157134District 08Field 20101500CondensateGasSave Export

Value, all time

$169 k

Jan 1996 – May 2004

Value, last 12 filed months

$23 k

at the published price for each month

Months reported

101

no gaps in the span

Streams

condensate, gas

The CONGER, SW (PENN) 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 271 leases and 445 wells, and the rule below applies to all of them.

Discovered

1979-02-21

as the register files it

Field class

Oil and gas

the register's own label

Between wells

933 ft

minimum

From a lease line

660 ft

minimum

A drilling unit in this field needs at least 40 acres. The field rule took effect on 1986-07-01.

The Commission's schedule remark for this field reads: “OPERATOR REQUEST. TEXACO E & P INC ALLICIANT..”

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	2,841 bbl	$61,242
Gas	Production	43,001 Mcf	$107,637
Total			$168,879

11,469 Mcf of this lease's gas, across 12 months, carries no value here. No free Texas wellhead gas price exists before 1997, so those months are left out of the total rather than valued at zero. The total above is therefore a floor, not an estimate.

Every month this lease reported (101)

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

101 months


May 2004	0	0	37.48	6.49	$0
Apr 2004	51	180	34.47	5.86	$2,812
Mar 2004	52	202	34.36	5.53	$2,904
Feb 2004	31	199	32.45	5.51	$2,102
Jan 2004	18	252	32.03	6.30	$2,164
Dec 2003	19	240	30.26	6.30	$2,087
Nov 2003	10	232	28.80	4.60	$1,354
Oct 2003	16	276	28.17	4.76	$1,764
Sep 2003	16	263	26.31	4.75	$1,670
Aug 2003	8	283	29.76	5.13	$1,690
Jul 2003	12	310	29.41	5.17	$1,956
Jun 2003	11	313	28.56	5.98	$2,187
May 2003	13	324	26.59	5.97	$2,281
Apr 2003	18	293	26.67	5.41	$2,064
Mar 2003	69	217	31.14	6.10	$3,472
Feb 2003	26	198	33.48	7.93	$2,440
Jan 2003	16	224	30.31	5.58	$1,735
Dec 2002	11	197	26.91	4.85	$1,252
Nov 2002	15	220	24.66	4.14	$1,280
Oct 2002	11	206	26.46	4.23	$1,162
Sep 2002	17	230	27.44	3.64	$1,303
Aug 2002	20	241	25.96	3.16	$1,282
Jul 2002	11	229	24.58	3.06	$972
Jun 2002	12	189	23.73	3.34	$916
May 2002	23	317	24.66	3.58	$1,703
Apr 2002	30	305	23.65	3.51	$1,781
Mar 2002	26	350	22.00	3.10	$1,658
Feb 2002	19	325	18.22	2.38	$1,118
Jan 2002	38	234	17.17	2.38	$1,208
Dec 2001	24	304	16.93	2.36	$1,125
Nov 2001	20	473	18.07	2.41	$1,499
Oct 2001	31	295	19.78	2.53	$1,359
Sep 2001	31	297	24.26	2.25	$1,421
Aug 2001	27	382	24.87	3.05	$1,838
Jul 2001	39	391	23.93	3.20	$2,183
Jun 2001	22	409	24.56	3.82	$2,104
May 2001	22	420	25.52	4.31	$2,371
Apr 2001	18	391	24.68	5.34	$2,530
Mar 2001	8	443	24.54	5.38	$2,578
Feb 2001	12	383	27.75	5.77	$2,542
Jan 2001	28	430	27.47	8.40	$4,381
Dec 2000	24	421	26.88	9.12	$4,486
Nov 2000	13	333	32.21	5.66	$2,303
Oct 2000	14	344	31.23	5.15	$2,207
Sep 2000	17	354	31.87	5.19	$2,378
Aug 2000	23	366	29.64	4.54	$2,344
Jul 2000	16	305	28.53	4.09	$1,704
Jun 2000	15	380	29.30	4.40	$2,110
May 2000	35	297	27.26	3.68	$2,047
Apr 2000	37	282	24.51	3.12	$1,786
Mar 2000	28	284	28.42	2.86	$1,608
Feb 2000	32	299	27.62	2.73	$1,699
Jan 2000	33	339	25.27	2.48	$1,675
Dec 1999	40	349	24.28	2.42	$1,817
Nov 1999	42	366	23.19	2.43	$1,865
Oct 1999	53	383	20.98	2.80	$2,186
Sep 1999	42	367	21.75	2.62	$1,875
Aug 1999	74	340	19.26	2.88	$2,403
Jul 1999	131	539	17.89	2.37	$3,622
Jun 1999	46	526	15.94	2.36	$1,976
May 1999	30	476	15.79	2.32	$1,579
Apr 1999	32	452	15.10	2.21	$1,481
Mar 1999	26	466	12.47	1.84	$1,181
Feb 1999	22	511	9.98	1.82	$1,148
Jan 1999	23	572	10.38	1.90	$1,326
Dec 1998	25	480	9.20	1.77	$1,081
Nov 1998	40	374	10.89	2.19	$1,253
Oct 1998	40	383	12.42	1.97	$1,251
Sep 1998	35	381	12.59	2.08	$1,234
Aug 1998	44	421	11.30	1.91	$1,300
Jul 1998	20	464	11.74	2.24	$1,273
Jun 1998	19	450	11.24	2.24	$1,220
May 1998	21	463	12.62	2.21	$1,287
Apr 1998	30	411	13.04	2.51	$1,421
Mar 1998	20	419	12.80	2.31	$1,224
Feb 1998	19	417	13.95	2.30	$1,224
Jan 1998	24	483	14.70	2.15	$1,394
Dec 1997	18	501	16.32	2.41	$1,502
Nov 1997	27	390	18.19	3.09	$1,696
Oct 1997	32	418	19.25	3.15	$1,933
Sep 1997	32	369	17.74	2.95	$1,658
Aug 1997	16	439	17.86	2.55	$1,407
Jul 1997	22	460	17.58	2.25	$1,420
Jun 1997	23	465	17.24	2.26	$1,446
May 1997	32	432	18.97	2.31	$1,604
Apr 1997	34	431	17.88	2.08	$1,506
Mar 1997	30	455	18.95	1.94	$1,451
Feb 1997	32	477	20.49	2.21	$1,708
Jan 1997	25	531	23.48	3.54	$2,467
Dec 1996	29	524	23.32	—	$676
Nov 1996	34	601	21.97	—	$747
Oct 1996	48	770	23.31	—	$1,119
Sep 1996	42	753	22.22	—	$933
Aug 1996	32	669	20.26	—	$648
Jul 1996	27	626	19.55	—	$528
Jun 1996	31	703	18.73	—	$581
May 1996	40	1,539	19.43	—	$777
Apr 1996	45	1,610	21.51	—	$968
Mar 1996	52	1,769	19.38	—	$1,008
Feb 1996	48	1,526	16.98	—	$815
Jan 1996	4	379	17.07	—	$68

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.

Apr 2004 — as filed, then multipliedworked

Condensate            51 bbl  × $ 34.47 =     $1,758
Gas                  180 Mcf  × $  5.86 =     $1,055

────────────────────────────────────────────────────
Month total                                   $2,812

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. 08/G/157134 is the state's own key, not one this site invented.