PHILLIPS-MIDLAND NATIONAL BANK

Name: PHILLIPS-MIDLAND NATIONAL BANK lease production and value, Jan 1993 onwards
Creator: Railroad Commission of Texas
License: https://www.rrc.texas.gov/site-policies/

Operated by APACHE CORPORATION (P-5 27200) in the FASKEN (WOLFCAMP, NORTH) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Oil lease lease 30554District 08Field 30394875OilCasinghead gasSave Export

Value, all time

$259 k

Jan 1993 – Sep 1998

Value, last 12 filed months

$23 k

at the published price for each month

Months reported

no gaps in the span

Streams

oil, casinghead gas

The FASKEN (WOLFCAMP, NORTH) 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 5 leases and 7 wells, and the rule below applies to all of them.

Discovered

1956-02-29

as the register files it

Field class

Oil

the register's own label

Between wells

1,320 ft

minimum

From a lease line

660 ft

minimum

A drilling unit in this field needs at least 80 acres.

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	14,916 bbl	$250,673
Casinghead gas	Production	16,448 Mcf	$8,112
Total			$258,785

13,204 Mcf of this lease's gas, across 48 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.

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 32.0344, -102.4893. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.0 miles.

32.03437, -102.48931 · centre of the wells drawn, derived⌘ or Ctrl + scroll to zoom

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

100.0%

1 of 1 wells

With a plug date

100.0%

1 of 1 wells

Median depth

10,907 ft

1 wells filed one

Completion to plug

12.4 years

median over 1 well

What the state filed about each well

On the RRC proration schedule

1100.0%

A plug date is filed

1100.0%

BothOn the schedule and plugged. Neither fact cancels the other.

1100.0%

NeitherNo plug date, and not on the schedule.

00.0%

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 10,907 ft.

Completions filed

Feb 1986

1 of 1 wells

Plug dates filed

Jul 1998

1 of 1 wells

Last completion to plug: a median of 12.4 years across the 1 well that filed both dates, with the middle half between 12.4 years and 12.4 years. The gap is the distance between two filed dates. It is not a statement of how long the well produced.

1 well


42-13535102	1	10,907 ft	Feb 1986	Jul 1998	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 (69)

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

69 months


Sep 1998	0	0	12.59	2.08	$0
Aug 1998	0	0	11.30	1.91	$0
Jul 1998	0	6	11.74	2.24	$13
Jun 1998	0	7	11.24	2.24	$16
May 1998	8	11	12.62	2.21	$125
Apr 1998	97	115	13.04	2.51	$1,553
Mar 1998	117	121	12.80	2.31	$1,777
Feb 1998	187	139	13.95	2.30	$2,928
Jan 1998	194	87	14.70	2.15	$3,039
Dec 1997	230	188	16.32	2.41	$4,207
Nov 1997	223	191	18.19	3.09	$4,646
Oct 1997	217	229	19.25	3.15	$4,899
Sep 1997	198	111	17.74	2.95	$3,841
Aug 1997	122	268	17.86	2.55	$2,864
Jul 1997	195	289	17.58	2.25	$4,077
Jun 1997	227	229	17.24	2.26	$4,430
May 1997	178	253	18.97	2.31	$3,961
Apr 1997	174	259	17.88	2.08	$3,651
Mar 1997	116	301	18.95	1.94	$2,782
Feb 1997	191	168	20.49	2.21	$4,284
Jan 1997	157	272	23.48	3.54	$4,649
Dec 1996	146	261	23.32	—	$3,405
Nov 1996	149	248	21.97	—	$3,274
Oct 1996	132	272	23.31	—	$3,077
Sep 1996	185	225	22.22	—	$4,111
Aug 1996	191	216	20.26	—	$3,870
Jul 1996	115	313	19.55	—	$2,248
Jun 1996	193	304	18.73	—	$3,615
May 1996	149	324	19.43	—	$2,895
Apr 1996	147	279	21.51	—	$3,162
Mar 1996	226	270	19.38	—	$4,380
Feb 1996	177	308	16.98	—	$3,005
Jan 1996	196	341	17.07	—	$3,346
Dec 1995	215	305	17.19	—	$3,696
Nov 1995	202	317	16.00	—	$3,232
Oct 1995	208	316	15.43	—	$3,209
Sep 1995	267	252	16.18	—	$4,320
Aug 1995	202	282	15.92	—	$3,216
Jul 1995	185	255	15.24	—	$2,819
Jun 1995	161	197	16.41	—	$2,642
May 1995	226	218	17.56	—	$3,969
Apr 1995	182	198	17.73	—	$3,227
Mar 1995	194	234	16.44	—	$3,189
Feb 1995	295	131	16.58	—	$4,891
Jan 1995	234	168	15.92	—	$3,725
Dec 1994	264	170	15.03	—	$3,968
Nov 1994	273	139	15.90	—	$4,341
Oct 1994	249	195	15.58	—	$3,879
Sep 1994	252	195	15.29	—	$3,853
Aug 1994	245	205	16.13	—	$3,952
Jul 1994	292	257	17.56	—	$5,128
Jun 1994	298	314	17.09	—	$5,093
May 1994	215	220	15.88	—	$3,414
Apr 1994	280	181	14.14	—	$3,959
Mar 1994	289	285	12.46	—	$3,601
Feb 1994	261	266	12.50	—	$3,263
Jan 1994	290	359	12.66	—	$3,671
Dec 1993	287	311	12.33	—	$3,539
Nov 1993	292	203	14.49	—	$4,231
Oct 1993	307	289	15.85	—	$4,866
Sep 1993	347	359	15.03	—	$5,215
Aug 1993	365	354	15.66	—	$5,716
Jul 1993	313	386	15.46	—	$4,839
Jun 1993	331	386	16.79	—	$5,557
May 1993	350	407	17.68	—	$6,188
Apr 1993	377	380	18.05	—	$6,805
Mar 1993	417	370	18.14	—	$7,564
Feb 1993	417	355	17.90	—	$7,464
Jan 1993	497	384	16.93	—	$8,414

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.

Jul 1998 — as filed, then multipliedworked

Oil                    0 bbl  × $ 11.74 =         $0
Casinghead gas         6 Mcf  × $  2.24 =        $13

────────────────────────────────────────────────────
Month total                                      $13

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/O/30554 is the state's own key, not one this site invented.