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PANDA UNIT

Operated by CONOCOPHILLIPS COMPANY (P-5 172232) in the FORD, WEST (WOLFCAMP) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Gas lease lease 278768District 08Field 31913800Hydrogen sulphide field2 tax incentive programmesCondensateGasSaveExport
Value, all time
$14.2 M
Aug 2014 – May 2026
Value, last 12 filed months
$62 k
at the published price for each month
Months reported
142
no gaps in the span
Streams
2
condensate, gas

The FORD, WEST (WOLFCAMP) 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 1,466 leases and 1,484 wells, and the rule below applies to all of them.

Discovered
2010-11-05
as the register files it
Field class
Oil and gas
the register's own label
Between wells
0 ft
minimum
From a lease line
330 ft
minimum

A drilling unit in this field needs at least 80 acres. The field rule took effect on 2018-06-05.

The register flags this field for hydrogen sulphide. That is a poisonous gas that occurs naturally in some formations. The flag is a property of the field as the Commission records it. It is not a measurement taken at this lease, and it is not a statement that gas is escaping anywhere.

The Commission's schedule remark for this field reads: “DOCKET SAYS PRO PLAT NOT REQUIRED NOT LEASE PLAT NOT REQ”

Severance-tax incentive filings

Applications the operator filed to have this lease's gas taxed at a reduced state rate. A filing is an application, and this page never calls one a reduction that was granted.

ProgrammeFilingsWith an approval dateDatedDocket
High Cost Gas112017-12-20221145
NGPA1none——

This says nothing about a royalty. A severance tax is charged to the operator. Whether a reduced rate reaches a royalty owner depends on the wording of the lease instrument, which is a private contract this site does not hold.

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
CondensateDisposition131,012 bbl$7,621,664
GasProduction2,055,566 Mcf$6,580,178
Total$14,201,842

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 31.8555, -104.0468. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.0 miles.

31.85546, -104.04681 · 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
0.0%
0 of 1 wells
With a plug date
0.0%
0 of 1 wells
Median depth
10,532 ft
1 wells filed one
Completion to plug
—
no well filed both dates

What the state filed about each well

On the RRC proration schedule
00.0%
A plug date is filed
00.0%
BothOn the schedule and plugged. Neither fact cancels the other.
00.0%
NeitherNo plug date, and not on the schedule.
1100.0%

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 10,532 ft.

Completions filed
Nov 2022
1 of 1 wells

1 well

42-109325381001 H10,532 ftNov 2022——

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 (142)

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

142 months

May 202600106.413.05$0
Apr 20263671,40398.932.87$40,334
Mar 202603,80589.753.15$11,984
Feb 20260063.503.75$0
Jan 20260059.138.00$0
Dec 20250056.664.41$0
Nov 20250058.593.93$0
Oct 20250059.383.30$0
Sep 2025331,25162.743.08$5,920
Aug 202501,12663.933.01$3,395
Jul 2025018266.743.32$603
Jun 20250266.483.13$6
May 2025015460.553.23$498
Apr 202537122662.363.54$23,936
Mar 20251,2792,49267.704.27$97,225
Feb 202518451670.884.34$15,282
Jan 20250074.324.28$0
Dec 20240068.993.12$0
Nov 202401,47069.052.20$3,232
Oct 20240071.372.28$0
Sep 2024377069.612.36$26,243
Aug 202456410,59475.632.06$64,517
Jul 202437011,70679.932.15$54,702
Jun 20243697,90878.082.63$49,641
May 20243801,02178.812.20$32,192
Apr 202456611,92384.451.66$67,581
Mar 202475914,33280.301.55$83,093
Feb 202438010,56176.091.78$47,751
Jan 202406,16673.023.30$20,333
Dec 202376414,18271.262.61$91,468
Nov 20233739,35477.892.81$55,315
Oct 202373717,77485.443.09$117,843
Sep 202337011,09989.042.74$63,301
Aug 202303,27280.522.67$8,746
Jul 202355811,68674.852.64$72,638
Jun 202385316,91868.962.26$97,032
May 202373119,01570.622.23$93,977
Apr 202354820,22278.122.24$88,062
Mar 202371517,62672.852.39$94,270
Feb 2023018,70875.112.47$46,128
Jan 202370417,49876.533.39$113,155
Dec 202255116,76476.415.73$138,144
Nov 20221844,77785.005.65$42,612
Oct 2022033987.185.86$1,988
Sep 202202,99084.888.16$24,409
Aug 202201,50394.529.13$13,718
Jul 202235312,224101.587.54$128,052
Jun 202274613,939115.097.98$197,051
May 202274014,293109.378.43$201,467
Apr 202236815,112104.226.84$141,683
Mar 202275915,022108.885.08$158,898
Feb 20223814,40391.054.86$56,084
Jan 202237015,78081.844.54$101,885
Dec 202175112,21371.323.90$101,181
Nov 202176012,01877.435.24$121,783
Oct 202177218,56379.795.71$167,664
Sep 20213725,85669.865.35$57,323
Aug 202135916866.024.22$24,410
Jul 202137689170.783.98$30,161
Jun 20211883,53469.493.38$25,011
May 202137611,82063.483.02$59,537
Apr 202194415,24060.362.76$99,018
Mar 20211907,89161.302.72$33,086
Feb 202138189457.805.55$26,982
Jan 20217703,73450.412.81$49,309
Dec 20205771,85744.642.68$30,726
Nov 20207549,93738.772.71$56,128
Oct 20207549,98136.972.48$52,613
Sep 20201928,89837.091.99$24,838
Aug 20203738,12839.982.39$34,299
Jul 202075015,62938.371.83$57,302
Jun 202037815,52334.901.69$39,431
May 202073616,22816.921.81$41,903
Apr 202075615,32514.751.80$38,803
Mar 202075716,67430.341.86$53,918
Feb 20203804,01549.881.98$26,907
Jan 20207512,44657.252.09$48,118
Dec 201975812,97359.012.30$74,624
Nov 201956613,88155.302.75$69,482
Oct 201974919,61453.472.42$87,486
Sep 201903,62855.052.66$9,641
Aug 20191,11319,89053.112.30$104,945
Jul 20191,12222,36556.272.46$118,154
Jun 201975318,12252.782.49$84,889
May 201974416,45658.482.74$88,604
Apr 201937316,50262.632.75$68,753
Mar 20191,11514,11656.803.06$106,557
Feb 201975516,08850.852.79$83,313
Jan 20191,11121,73546.033.23$121,304
Dec 20181,49919,14346.594.19$149,960
Nov 20181,48922,54752.934.24$174,350
Oct 20181,86135,65861.443.40$235,509
Sep 20181,82434,12059.543.11$214,646
Aug 20181,39136,79859.403.07$195,469
Jul 20181,42326,74165.142.93$171,096
Jun 20181,04423,21060.183.08$134,243
May 20181,25224,61665.382.90$153,262
Apr 20181,07424,64263.842.90$140,046
Mar 20181,23221,50361.222.79$135,348
Feb 20181,26918,98761.782.77$130,919
Jan 20181,13711,01262.874.01$115,634
Dec 201774111,61157.272.92$76,359
Nov 20171,44825,27255.423.12$159,055
Oct 20171,07217,94649.292.98$106,384
Sep 20171,07018,98047.523.09$109,443
Aug 20171,43422,78445.373.00$133,513
Jul 20171,41926,10143.873.09$142,833
Jun 20171,26325,19142.493.09$131,437
May 20171,97929,69245.373.26$186,684
Apr 20171,63932,57947.933.21$183,188
Mar 20171,45026,39946.772.98$146,583
Feb 20171,81531,15050.452.95$183,540
Jan 20172,15834,33049.413.42$223,994
Dec 20161,84726,77748.763.72$189,746
Nov 20161,80234,43442.492.64$167,623
Oct 20161,44738,77746.193.09$186,668
Sep 20162,11335,74241.553.10$198,618
Aug 20161,59435,86741.442.92$170,943
Jul 20161,92336,21141.622.92$185,929
Jun 20162,63436,65045.352.69$217,888
May 20160042.521.99$0
Apr 20160036.561.99$0
Mar 20160033.011.79$0
Feb 20160026.472.06$0
Jan 20160027.352.36$0
Dec 20153561,58332.362.00$14,688
Nov 20152,48325,19738.792.17$150,926
Oct 20152,10524,02943.552.43$149,981
Sep 20152,44222,25942.992.76$166,381
Aug 20152,62035,57940.162.87$207,420
Jul 20152,81228,22148.152.95$218,511
Jun 20152,92530,74356.152.88$252,867
May 20153,88442,70255.212.96$340,639
Apr 20151,8599,33149.822.71$117,870
Mar 20151,1201,45142.892.93$52,295
Feb 20151,8895,06144.662.98$99,425
Jan 20159255,73443.433.10$57,952
Dec 20142,83917,54954.693.59$218,290
Nov 20144,74042,03070.464.25$512,685
Oct 20142,12921,50278.303.90$250,579
Sep 20143,27928,97086.164.05$399,715
Aug 20145,90273,98489.394.04$826,114

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 2026 — as filed, then multipliedworked
Condensate           367 bbl  × $ 98.93 =    $36,307
Gas                1,403 Mcf  × $  2.87 =     $4,026

────────────────────────────────────────────────────
Month total                                  $40,334

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/278768 is the state's own key, not one this site invented.