GIBBS

Name: GIBBS lease production and value, May 2003 onwards
Creator: Railroad Commission of Texas
License: https://www.rrc.texas.gov/site-policies/

Operated by KROCAN ENERGY CORPORATION (P-5 478188) in the NEWARK, EAST (BARNETT SHALE) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Gas lease lease 197252District 09Field 652802002 tax incentive programmesCondensateGasSave Export

Value, all time

$4.4 M

May 2003 – Jul 2018

Value, last 12 filed months

$53 k

at the published price for each month

Months reported

183

no gaps in the span

Streams

condensate, gas

The NEWARK, EAST (BARNETT SHALE) 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 21,881 leases and 22,468 wells, and the rule below applies to all of them.

Discovered

1981-10-15

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 20 acres. The field rule took effect on 2009-09-29.

The Commission's schedule remark for this field reads: “DESIGNATED AS UFT FIELD PER DOCKET 01-0299858”

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.

Programme	Filings	With an approval date	Dated	Docket
High Cost Gas	1	1	2005-04-28	161267
NGPA	1	none	—	—

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.

Stream	Basis	Volume	Value
Condensate	Disposition	21 bbl	$1,010
Gas	Production	720,458 Mcf	$4,353,284
Total			$4,354,294

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 33.0955, -97.2493. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.0 miles.

33.09550, -97.24934 · 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

8,280 ft

1 wells filed one

Completion to plug

13.5 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 8,280 ft.

Completions filed

Jan 2005

1 of 1 wells

Plug dates filed

Jul 2018

1 of 1 wells

Last completion to plug: a median of 13.5 years across the 1 well that filed both dates, with the middle half between 13.5 years and 13.5 years. The gap is the distance between two filed dates. It is not a statement of how long the well produced.

1 well


42-12131936	2	8,280 ft	Jan 2005	Jul 2018	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 (183)

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

183 months


Jul 2018	0	0	65.14	2.93	$0
Jun 2018	0	1,547	60.18	3.08	$4,760
May 2018	0	2,624	65.38	2.90	$7,612
Apr 2018	0	2,572	63.84	2.90	$7,461
Mar 2018	0	1,149	61.22	2.79	$3,202
Feb 2018	0	934	61.78	2.77	$2,584
Jan 2018	0	1,319	62.87	4.01	$5,288
Dec 2017	0	1,077	57.27	2.92	$3,146
Nov 2017	0	1,420	55.42	3.12	$4,428
Oct 2017	0	1,639	49.29	2.98	$4,890
Sep 2017	0	1,440	47.52	3.09	$4,446
Aug 2017	0	1,648	45.37	3.00	$4,951
Jul 2017	0	3,264	43.87	3.09	$10,077
Jun 2017	0	1,488	42.49	3.09	$4,594
May 2017	0	1,306	45.37	3.26	$4,262
Apr 2017	0	2,020	47.93	3.21	$6,487
Mar 2017	0	2,180	46.77	2.98	$6,504
Feb 2017	0	2,156	50.45	2.95	$6,366
Jan 2017	0	2,636	49.41	3.42	$9,012
Dec 2016	0	3,100	48.76	3.72	$11,541
Nov 2016	0	1,606	42.49	2.64	$4,247
Oct 2016	0	1,857	46.19	3.09	$5,739
Sep 2016	0	1,903	41.55	3.10	$5,901
Aug 2016	0	1,613	41.44	2.92	$4,717
Jul 2016	0	2,920	41.62	2.92	$8,539
Jun 2016	0	4,061	45.35	2.69	$10,907
May 2016	0	1,427	42.52	1.99	$2,841
Apr 2016	0	1,696	36.56	1.99	$3,377
Mar 2016	0	2,614	33.01	1.79	$4,690
Feb 2016	0	1,088	26.47	2.06	$2,245
Jan 2016	0	1,209	27.35	2.36	$2,859
Dec 2015	0	1,202	32.36	2.00	$2,406
Nov 2015	0	1,166	38.79	2.17	$2,527
Oct 2015	0	1,270	43.55	2.43	$3,082
Sep 2015	0	1,403	42.99	2.76	$3,870
Aug 2015	0	2,401	40.16	2.87	$6,897
Jul 2015	0	2,959	48.15	2.95	$8,714
Jun 2015	0	2,633	56.15	2.88	$7,591
May 2015	0	3,193	55.21	2.96	$9,437
Apr 2015	0	2,925	49.82	2.71	$7,917
Mar 2015	0	2,699	42.89	2.93	$7,921
Feb 2015	0	2,915	44.66	2.98	$8,676
Jan 2015	0	2,649	43.43	3.10	$8,214
Dec 2014	0	3,223	54.69	3.59	$11,575
Nov 2014	0	3,391	70.46	4.25	$14,418
Oct 2014	0	3,338	78.30	3.90	$13,021
Sep 2014	0	3,423	86.16	4.05	$13,848
Aug 2014	0	4,350	89.39	4.04	$17,553
Jul 2014	0	2,299	96.56	4.18	$9,609
Jun 2014	0	1,302	98.16	4.74	$6,167
May 2014	0	2,093	94.73	4.73	$9,893
Apr 2014	0	2,730	95.94	4.81	$13,129
Mar 2014	0	1,981	95.89	5.06	$10,018
Feb 2014	0	2,857	97.40	6.19	$17,691
Jan 2014	0	1,593	90.40	4.86	$7,743
Dec 2013	0	1,483	91.82	4.35	$6,458
Nov 2013	0	1,569	88.85	3.74	$5,865
Oct 2013	0	2,039	97.42	3.78	$7,706
Sep 2013	0	2,076	104.11	3.72	$7,718
Aug 2013	0	2,382	104.25	3.52	$8,391
Jul 2013	0	1,525	102.52	3.72	$5,670
Jun 2013	0	1,627	94.40	3.93	$6,400
May 2013	0	2,586	94.83	4.15	$10,730
Apr 2013	0	2,822	93.96	4.28	$12,085
Mar 2013	0	3,154	93.62	3.91	$12,341
Feb 2013	0	2,905	91.23	3.42	$9,935
Jan 2013	0	3,460	91.60	3.42	$11,833
Dec 2012	0	3,442	86.77	3.42	$11,772
Nov 2012	0	2,015	86.95	3.62	$7,304
Oct 2012	0	1,659	89.38	3.40	$5,640
Sep 2012	0	3,050	94.67	2.92	$8,901
Aug 2012	0	1,705	92.66	2.91	$4,958
Jul 2012	0	2,168	85.13	3.02	$6,549
Jun 2012	0	3,391	79.82	2.52	$8,542
May 2012	0	3,288	91.61	2.49	$8,182
Apr 2012	0	3,140	101.65	2.00	$6,270
Mar 2012	0	3,142	105.05	2.22	$6,982
Feb 2012	0	3,105	101.10	2.57	$7,981
Jan 2012	0	2,838	98.09	2.73	$7,759
Dec 2011	0	2,938	96.87	3.24	$9,518
Nov 2011	0	2,983	95.72	3.31	$9,878
Oct 2011	0	3,136	84.98	3.65	$11,442
Sep 2011	0	2,195	83.62	3.99	$8,749
Aug 2011	0	3,224	83.40	4.15	$13,377
Jul 2011	0	3,518	94.14	4.52	$15,892
Jun 2011	0	3,330	92.90	4.64	$15,451
May 2011	0	3,301	98.13	4.40	$14,540
Apr 2011	0	3,176	105.96	4.33	$13,763
Mar 2011	0	3,584	96.36	4.06	$14,542
Feb 2011	0	2,850	85.64	4.18	$11,913
Jan 2011	0	2,666	86.50	4.59	$12,234
Dec 2010	0	3,466	85.73	4.35	$15,069
Nov 2010	0	3,349	80.84	3.80	$12,711
Oct 2010	0	3,091	78.10	3.51	$10,846
Sep 2010	0	3,210	72.63	3.98	$12,774
Aug 2010	0	4,106	73.68	4.42	$18,146
Jul 2010	0	3,154	72.55	4.74	$14,939
Jun 2010	0	3,865	70.36	4.91	$18,979
May 2010	0	4,682	71.12	4.24	$19,829
Apr 2010	0	4,197	81.69	4.12	$17,303
Mar 2010	0	4,495	78.39	4.39	$19,727
Feb 2010	0	3,579	73.58	5.44	$19,478
Jan 2010	0	4,027	74.36	5.96	$24,017
Dec 2009	0	4,397	71.44	5.48	$24,112
Nov 2009	0	4,839	74.59	3.75	$18,154
Oct 2009	0	4,834	72.54	4.11	$19,869
Sep 2009	0	4,792	65.54	3.06	$14,686
Aug 2009	0	5,084	67.42	3.22	$16,363
Jul 2009	0	4,954	61.13	3.46	$17,163
Jun 2009	0	4,623	66.16	3.90	$18,007
May 2009	0	5,196	54.74	3.93	$20,398
Apr 2009	0	4,927	46.77	3.59	$17,676
Mar 2009	0	5,127	42.14	4.06	$20,810
Feb 2009	0	5,430	32.81	4.63	$25,157
Jan 2009	0	3,629	35.86	5.37	$19,491
Dec 2008	0	4,296	37.10	5.98	$25,678
Nov 2008	0	4,198	55.49	6.86	$28,800
Oct 2008	0	5,115	75.24	6.92	$35,406
Sep 2008	0	4,352	101.76	7.88	$34,281
Aug 2008	0	3,544	114.22	8.48	$30,064
Jul 2008	0	3,441	131.08	11.39	$39,191
Jun 2008	0	4,373	131.33	13.03	$56,992
May 2008	0	5,181	123.17	11.57	$59,966
Apr 2008	0	3,623	110.31	10.45	$37,878
Mar 2008	0	3,855	101.90	9.66	$37,255
Feb 2008	0	3,815	92.53	8.77	$33,460
Jan 2008	0	3,712	90.38	8.21	$30,460
Dec 2007	0	4,976	88.33	7.30	$36,335
Nov 2007	0	4,768	91.67	7.29	$34,767
Oct 2007	0	5,277	82.85	6.92	$36,527
Sep 2007	0	5,410	75.84	6.24	$33,781
Aug 2007	0	5,322	69.06	6.39	$33,997
Jul 2007	0	5,480	70.90	6.39	$35,006
Jun 2007	0	5,226	62.00	7.55	$39,448
May 2007	3	6,143	58.74	7.85	$48,376
Apr 2007	0	7,559	59.61	7.81	$59,000
Mar 2007	2	5,909	56.92	7.30	$43,261
Feb 2007	0	6,073	55.10	8.22	$49,896
Jan 2007	1	5,959	50.30	6.73	$40,136
Dec 2006	0	7,049	56.65	6.92	$48,768
Nov 2006	0	7,365	54.20	7.62	$56,103
Oct 2006	0	7,809	54.90	6.01	$46,962
Sep 2006	0	7,609	60.08	5.04	$38,328
Aug 2006	0	8,173	68.71	7.34	$59,989
Jul 2006	0	8,584	69.37	6.34	$54,446
Jun 2006	0	8,543	66.28	6.38	$54,537
May 2006	0	8,564	66.01	6.42	$55,024
Apr 2006	0	8,481	64.39	7.36	$62,424
Mar 2006	0	8,896	56.70	7.08	$63,010
Feb 2006	0	8,836	57.59	7.75	$68,489
Jan 2006	0	9,672	60.59	8.93	$86,403
Dec 2005	0	10,004	54.94	13.42	$134,208
Nov 2005	0	10,521	54.69	10.59	$111,401
Oct 2005	0	10,592	58.34	13.80	$146,125
Sep 2005	0	10,869	61.45	12.08	$131,287
Aug 2005	0	12,354	61.51	9.80	$121,030
Jul 2005	0	13,012	55.69	7.84	$102,061
Jun 2005	1	14,059	52.33	7.38	$103,822
May 2005	0	16,556	45.22	6.65	$110,117
Apr 2005	0	17,504	49.20	7.36	$128,838
Mar 2005	1	20,341	50.37	7.15	$145,588
Feb 2005	3	21,810	45.22	6.31	$137,799
Jan 2005	10	27,615	43.16	6.32	$175,019
Dec 2004	0	0	39.86	6.75	$0
Nov 2004	0	0	45.28	6.33	$0
Oct 2004	0	0	49.70	6.52	$0
Sep 2004	0	0	43.24	5.28	$0
Aug 2004	0	0	42.37	5.55	$0
Jul 2004	0	0	38.28	6.08	$0
Jun 2004	0	0	36.10	6.43	$0
May 2004	0	0	37.48	6.49	$0
Apr 2004	0	0	34.47	5.86	$0
Mar 2004	0	0	34.36	5.53	$0
Feb 2004	0	0	32.45	5.51	$0
Jan 2004	0	0	32.03	6.30	$0
Dec 2003	0	0	30.26	6.30	$0
Nov 2003	0	0	28.80	4.60	$0
Oct 2003	0	0	28.17	4.76	$0
Sep 2003	0	0	26.31	4.75	$0
Aug 2003	0	0	29.76	5.13	$0
Jul 2003	0	0	29.41	5.17	$0
Jun 2003	0	0	28.56	5.98	$0
May 2003	0	0	26.59	5.97	$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.

Jun 2018 — as filed, then multipliedworked

Condensate             0 bbl  × $ 60.18 =         $0
Gas                1,547 Mcf  × $  3.08 =     $4,760

────────────────────────────────────────────────────
Month total                                   $4,760

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. 09/G/197252 is the state's own key, not one this site invented.