CAVE
Operated by PIEDRA OPERATING, LLC (P-5 664930) in the SPRABERRY (TREND AREA) 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 16,587 leases and 43,997 wells, and the rule below applies to all of them.
A drilling unit in this field needs at least 80 acres. The field rule took effect on 2018-02-13.
The Commission's schedule remark for this field reads: “SPRABERRY (TREND AREA) FIELD EFFECTIVE 10/1/2019.”
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 | 7,545 bbl | $616,702 |
| Casinghead gas | Production | 8,959 Mcf | $47,942 |
| Total | $664,644 | ||
Every month this lease reported (106)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
106 months
| Feb 2017 | 0 | 0 | 50.45 | 2.95 | $0 |
| Jan 2017 | 0 | 0 | 49.41 | 3.42 | $0 |
| Dec 2016 | 152 | 0 | 48.76 | 3.72 | $7,412 |
| Nov 2016 | 0 | 0 | 42.49 | 2.64 | $0 |
| Oct 2016 | 0 | 0 | 46.19 | 3.09 | $0 |
| Sep 2016 | 0 | 0 | 41.55 | 3.10 | $0 |
| Aug 2016 | 0 | 0 | 41.44 | 2.92 | $0 |
| Jul 2016 | 0 | 0 | 41.62 | 2.92 | $0 |
| Jun 2016 | 0 | 0 | 45.35 | 2.69 | $0 |
| May 2016 | 0 | 0 | 42.52 | 1.99 | $0 |
| Apr 2016 | 0 | 14 | 36.56 | 1.99 | $28 |
| Mar 2016 | 0 | 17 | 33.01 | 1.79 | $31 |
| Feb 2016 | 0 | 10 | 26.47 | 2.06 | $21 |
| Jan 2016 | 0 | 0 | 27.35 | 2.36 | $0 |
| Dec 2015 | 0 | 6 | 32.36 | 2.00 | $12 |
| Nov 2015 | 0 | 0 | 38.79 | 2.17 | $0 |
| Oct 2015 | 0 | 0 | 43.55 | 2.43 | $0 |
| Sep 2015 | 0 | 0 | 42.99 | 2.76 | $0 |
| Aug 2015 | 0 | 0 | 40.16 | 2.87 | $0 |
| Jul 2015 | 0 | 0 | 48.15 | 2.95 | $0 |
| Jun 2015 | 0 | 0 | 56.15 | 2.88 | $0 |
| May 2015 | 0 | 8 | 55.21 | 2.96 | $24 |
| Apr 2015 | 0 | 0 | 49.82 | 2.71 | $0 |
| Mar 2015 | 0 | 0 | 42.89 | 2.93 | $0 |
| Feb 2015 | 0 | 0 | 44.66 | 2.98 | $0 |
| Jan 2015 | 0 | 0 | 43.43 | 3.10 | $0 |
| Dec 2014 | 0 | 0 | 54.69 | 3.59 | $0 |
| Nov 2014 | 0 | 0 | 70.46 | 4.25 | $0 |
| Oct 2014 | 0 | 0 | 78.30 | 3.90 | $0 |
| Sep 2014 | 0 | 0 | 86.16 | 4.05 | $0 |
| Aug 2014 | 0 | 0 | 89.39 | 4.04 | $0 |
| Jul 2014 | 0 | 0 | 96.56 | 4.18 | $0 |
| Jun 2014 | 0 | 0 | 98.16 | 4.74 | $0 |
| May 2014 | 0 | 0 | 94.73 | 4.73 | $0 |
| Apr 2014 | 0 | 0 | 95.94 | 4.81 | $0 |
| Mar 2014 | 0 | 0 | 95.89 | 5.06 | $0 |
| Feb 2014 | 0 | 0 | 97.40 | 6.19 | $0 |
| Jan 2014 | 0 | 0 | 90.40 | 4.86 | $0 |
| Dec 2013 | 0 | 0 | 91.82 | 4.35 | $0 |
| Nov 2013 | 0 | 0 | 88.85 | 3.74 | $0 |
| Oct 2013 | 0 | 0 | 97.42 | 3.78 | $0 |
| Sep 2013 | 0 | 0 | 104.11 | 3.72 | $0 |
| Aug 2013 | 1 | 0 | 104.25 | 3.52 | $104 |
| Jul 2013 | 158 | 0 | 102.52 | 3.72 | $16,198 |
| Jun 2013 | 0 | 0 | 94.40 | 3.93 | $0 |
| May 2013 | 0 | 0 | 94.83 | 4.15 | $0 |
| Apr 2013 | 0 | 5 | 93.96 | 4.28 | $21 |
| Mar 2013 | 0 | 0 | 93.62 | 3.91 | $0 |
| Feb 2013 | 0 | 0 | 91.23 | 3.42 | $0 |
| Jan 2013 | 0 | 0 | 91.60 | 3.42 | $0 |
| Dec 2012 | 0 | 0 | 86.77 | 3.42 | $0 |
| Nov 2012 | 0 | 0 | 86.95 | 3.62 | $0 |
| Oct 2012 | 0 | 0 | 89.38 | 3.40 | $0 |
| Sep 2012 | 0 | 11 | 94.67 | 2.92 | $32 |
| Aug 2012 | 0 | 119 | 92.66 | 2.91 | $346 |
| Jul 2012 | 175 | 124 | 85.13 | 3.02 | $15,272 |
| Jun 2012 | 0 | 77 | 79.82 | 2.52 | $194 |
| May 2012 | 180 | 125 | 91.61 | 2.49 | $16,801 |
| Apr 2012 | 0 | 116 | 101.65 | 2.00 | $232 |
| Mar 2012 | 0 | 107 | 105.05 | 2.22 | $238 |
| Feb 2012 | 0 | 111 | 101.10 | 2.57 | $285 |
| Jan 2012 | 176 | 115 | 98.09 | 2.73 | $17,578 |
| Dec 2011 | 190 | 117 | 96.87 | 3.24 | $18,784 |
| Nov 2011 | 7 | 107 | 95.72 | 3.31 | $1,024 |
| Oct 2011 | 180 | 117 | 84.98 | 3.65 | $15,723 |
| Sep 2011 | 6 | 76 | 83.62 | 3.99 | $805 |
| Aug 2011 | 180 | 151 | 83.40 | 4.15 | $15,639 |
| Jul 2011 | 177 | 154 | 94.14 | 4.52 | $17,358 |
| Jun 2011 | 3 | 154 | 92.90 | 4.64 | $993 |
| May 2011 | 175 | 154 | 98.13 | 4.40 | $17,851 |
| Apr 2011 | 6 | 122 | 105.96 | 4.33 | $1,164 |
| Mar 2011 | 182 | 136 | 96.36 | 4.06 | $18,089 |
| Feb 2011 | 5 | 129 | 85.64 | 4.18 | $967 |
| Jan 2011 | 363 | 112 | 86.50 | 4.59 | $31,913 |
| Dec 2010 | 0 | 154 | 85.73 | 4.35 | $670 |
| Nov 2010 | 0 | 165 | 80.84 | 3.80 | $626 |
| Oct 2010 | 182 | 136 | 78.10 | 3.51 | $14,691 |
| Sep 2010 | 0 | 0 | 72.63 | 3.98 | $0 |
| Aug 2010 | 175 | 47 | 73.68 | 4.42 | $13,102 |
| Jul 2010 | 179 | 228 | 72.55 | 4.74 | $14,066 |
| Jun 2010 | 0 | 7 | 70.36 | 4.91 | $34 |
| May 2010 | 181 | 99 | 71.12 | 4.24 | $13,292 |
| Apr 2010 | 178 | 146 | 81.69 | 4.12 | $15,143 |
| Mar 2010 | 195 | 148 | 78.39 | 4.39 | $15,936 |
| Feb 2010 | 0 | 151 | 73.58 | 5.44 | $822 |
| Jan 2010 | 177 | 154 | 74.36 | 5.96 | $14,080 |
| Dec 2009 | 177 | 266 | 71.44 | 5.48 | $14,104 |
| Nov 2009 | 180 | 192 | 74.59 | 3.75 | $14,146 |
| Oct 2009 | 3 | 295 | 72.54 | 4.11 | $1,430 |
| Sep 2009 | 181 | 270 | 65.54 | 3.06 | $12,690 |
| Aug 2009 | 178 | 268 | 67.42 | 3.22 | $12,863 |
| Jul 2009 | 198 | 238 | 61.13 | 3.46 | $12,928 |
| Jun 2009 | 176 | 262 | 66.16 | 3.90 | $12,665 |
| May 2009 | 0 | 0 | 54.74 | 3.93 | $0 |
| Apr 2009 | 178 | 114 | 46.77 | 3.59 | $8,734 |
| Mar 2009 | 182 | 71 | 42.14 | 4.06 | $7,958 |
| Feb 2009 | 182 | 180 | 32.81 | 4.63 | $6,805 |
| Jan 2009 | 178 | 184 | 35.86 | 5.37 | $7,371 |
| Dec 2008 | 184 | 315 | 37.10 | 5.98 | $8,709 |
| Nov 2008 | 363 | 423 | 55.49 | 6.86 | $23,045 |
| Oct 2008 | 357 | 768 | 75.24 | 6.92 | $32,177 |
| Sep 2008 | 173 | 235 | 101.76 | 7.88 | $19,456 |
| Aug 2008 | 0 | 50 | 114.22 | 8.48 | $424 |
| Jul 2008 | 356 | 201 | 131.08 | 11.39 | $48,954 |
| Jun 2008 | 716 | 323 | 131.33 | 13.03 | $98,242 |
| May 2008 | 0 | 375 | 123.17 | 11.57 | $4,340 |
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 152 bbl × $ 48.76 = $7,412 Casinghead gas 0 Mcf × $ 3.72 = $0 ──────────────────────────────────────────────────── Month total $7,412
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/38832 is the state's own key, not one this site invented.