GIBBS

Name: GIBBS lease production and value, Aug 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 197253District 09Field 652802002 tax incentive programmesCondensateGasSave Export

Value, all time

$3.7 M

Aug 2003 – Jun 2018

Value, last 12 filed months

$53 k

at the published price for each month

Months reported

179

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	2004-07-16	158110
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	47 bbl	$1,683
Gas	Production	653,780 Mcf	$3,731,042
Total			$3,732,725

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 33.0902, -97.2507. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.0 miles.

33.09021, -97.25073 · 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

8,246 ft

1 wells filed one

Completion to plug

14.3 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 8,246 ft.

Completions filed

Mar 2004

1 of 1 wells

Plug dates filed

Jun 2018

1 of 1 wells

Last completion to plug: a median of 14.3 years across the 1 well that filed both dates, with the middle half between 14.3 years and 14.3 years. The gap is the distance between two filed dates. It is not a statement of how long the well produced.

1 well


42-12132013	3	8,246 ft	Mar 2004	Jun 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 (179)

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

179 months


Jun 2018	0	1,170	60.18	3.08	$3,600
May 2018	0	1,533	65.38	2.90	$4,447
Apr 2018	0	1,310	63.84	2.90	$3,800
Mar 2018	0	1,317	61.22	2.79	$3,670
Feb 2018	0	1,169	61.78	2.77	$3,234
Jan 2018	0	1,331	62.87	4.01	$5,336
Dec 2017	0	1,403	57.27	2.92	$4,099
Nov 2017	0	1,350	55.42	3.12	$4,210
Oct 2017	0	1,683	49.29	2.98	$5,022
Sep 2017	0	1,683	47.52	3.09	$5,196
Aug 2017	0	1,733	45.37	3.00	$5,207
Jul 2017	0	1,591	43.87	3.09	$4,912
Jun 2017	0	1,481	42.49	3.09	$4,572
May 2017	0	1,571	45.37	3.26	$5,127
Apr 2017	0	1,586	47.93	3.21	$5,094
Mar 2017	0	1,502	46.77	2.98	$4,481
Feb 2017	0	1,886	50.45	2.95	$5,569
Jan 2017	0	1,888	49.41	3.42	$6,455
Dec 2016	0	1,789	48.76	3.72	$6,660
Nov 2016	0	1,648	42.49	2.64	$4,358
Oct 2016	0	1,596	46.19	3.09	$4,932
Sep 2016	0	1,709	41.55	3.10	$5,299
Aug 2016	0	1,885	41.44	2.92	$5,512
Jul 2016	0	2,086	41.62	2.92	$6,100
Jun 2016	0	1,448	45.35	2.69	$3,889
May 2016	0	1,781	42.52	1.99	$3,546
Apr 2016	0	1,749	36.56	1.99	$3,482
Mar 2016	0	1,579	33.01	1.79	$2,833
Feb 2016	0	1,640	26.47	2.06	$3,384
Jan 2016	0	1,752	27.35	2.36	$4,142
Dec 2015	0	1,813	32.36	2.00	$3,629
Nov 2015	0	1,825	38.79	2.17	$3,955
Oct 2015	0	1,890	43.55	2.43	$4,586
Sep 2015	0	1,762	42.99	2.76	$4,860
Aug 2015	0	1,890	40.16	2.87	$5,429
Jul 2015	0	1,884	48.15	2.95	$5,549
Jun 2015	0	1,868	56.15	2.88	$5,385
May 2015	0	2,107	55.21	2.96	$6,227
Apr 2015	0	1,771	49.82	2.71	$4,793
Mar 2015	0	1,897	42.89	2.93	$5,567
Feb 2015	0	1,957	44.66	2.98	$5,824
Jan 2015	0	2,107	43.43	3.10	$6,533
Dec 2014	0	2,029	54.69	3.59	$7,287
Nov 2014	0	2,150	70.46	4.25	$9,141
Oct 2014	0	2,128	78.30	3.90	$8,301
Sep 2014	0	2,237	86.16	4.05	$9,050
Aug 2014	0	2,354	89.39	4.04	$9,499
Jul 2014	0	2,766	96.56	4.18	$11,561
Jun 2014	0	2,600	98.16	4.74	$12,316
May 2014	0	2,075	94.73	4.73	$9,808
Apr 2014	0	2,635	95.94	4.81	$12,672
Mar 2014	0	2,012	95.89	5.06	$10,174
Feb 2014	0	1,763	97.40	6.19	$10,917
Jan 2014	0	1,881	90.40	4.86	$9,143
Dec 2013	0	1,920	91.82	4.35	$8,361
Nov 2013	0	1,934	88.85	3.74	$7,230
Oct 2013	0	1,864	97.42	3.78	$7,045
Sep 2013	0	1,898	104.11	3.72	$7,056
Aug 2013	0	2,069	104.25	3.52	$7,288
Jul 2013	0	2,189	102.52	3.72	$8,138
Jun 2013	0	2,368	94.40	3.93	$9,314
May 2013	0	2,441	94.83	4.15	$10,128
Apr 2013	0	2,386	93.96	4.28	$10,218
Mar 2013	0	2,534	93.62	3.91	$9,915
Feb 2013	0	2,904	91.23	3.42	$9,931
Jan 2013	0	2,878	91.60	3.42	$9,843
Dec 2012	0	2,642	86.77	3.42	$9,036
Nov 2012	0	2,750	86.95	3.62	$9,969
Oct 2012	0	3,458	89.38	3.40	$11,756
Sep 2012	0	2,910	94.67	2.92	$8,493
Aug 2012	0	3,446	92.66	2.91	$10,022
Jul 2012	0	2,633	85.13	3.02	$7,954
Jun 2012	0	2,445	79.82	2.52	$6,159
May 2012	0	2,499	91.61	2.49	$6,218
Apr 2012	0	2,354	101.65	2.00	$4,700
Mar 2012	0	2,726	105.05	2.22	$6,057
Feb 2012	0	2,404	101.10	2.57	$6,179
Jan 2012	0	2,598	98.09	2.73	$7,103
Dec 2011	0	2,590	96.87	3.24	$8,391
Nov 2011	0	2,582	95.72	3.31	$8,550
Oct 2011	0	2,704	84.98	3.65	$9,866
Sep 2011	0	2,703	83.62	3.99	$10,774
Aug 2011	0	2,843	83.40	4.15	$11,797
Jul 2011	0	2,775	94.14	4.52	$12,535
Jun 2011	0	2,682	92.90	4.64	$12,444
May 2011	0	2,685	98.13	4.40	$11,827
Apr 2011	0	2,874	105.96	4.33	$12,454
Mar 2011	0	3,161	96.36	4.06	$12,825
Feb 2011	0	2,519	85.64	4.18	$10,529
Jan 2011	0	2,775	86.50	4.59	$12,734
Dec 2010	0	2,757	85.73	4.35	$11,987
Nov 2010	0	2,768	80.84	3.80	$10,505
Oct 2010	0	3,258	78.10	3.51	$11,432
Sep 2010	0	3,055	72.63	3.98	$12,157
Aug 2010	0	3,500	73.68	4.42	$15,468
Jul 2010	0	3,620	72.55	4.74	$17,146
Jun 2010	0	3,488	70.36	4.91	$17,127
May 2010	0	4,205	71.12	4.24	$17,809
Apr 2010	0	3,758	81.69	4.12	$15,493
Mar 2010	0	3,799	78.39	4.39	$16,673
Feb 2010	0	3,676	73.58	5.44	$20,006
Jan 2010	0	3,759	74.36	5.96	$22,419
Dec 2009	0	4,169	71.44	5.48	$22,862
Nov 2009	0	4,612	74.59	3.75	$17,302
Oct 2009	0	4,176	72.54	4.11	$17,164
Sep 2009	0	4,445	65.54	3.06	$13,623
Aug 2009	0	4,805	67.42	3.22	$15,465
Jul 2009	0	4,975	61.13	3.46	$17,236
Jun 2009	0	4,165	66.16	3.90	$16,223
May 2009	0	5,135	54.74	3.93	$20,159
Apr 2009	0	5,153	46.77	3.59	$18,486
Mar 2009	0	5,924	42.14	4.06	$24,046
Feb 2009	0	5,502	32.81	4.63	$25,491
Jan 2009	0	5,044	35.86	5.37	$27,091
Dec 2008	0	4,200	37.10	5.98	$25,104
Nov 2008	0	2,320	55.49	6.86	$15,916
Oct 2008	0	3,039	75.24	6.92	$21,036
Sep 2008	0	3,337	101.76	7.88	$26,286
Aug 2008	0	3,387	114.22	8.48	$28,732
Jul 2008	0	3,336	131.08	11.39	$37,995
Jun 2008	0	2,946	131.33	13.03	$38,394
May 2008	0	3,591	123.17	11.57	$41,563
Apr 2008	0	2,584	110.31	10.45	$27,015
Mar 2008	0	3,164	101.90	9.66	$30,577
Feb 2008	0	3,599	92.53	8.77	$31,565
Jan 2008	0	3,254	90.38	8.21	$26,701
Dec 2007	0	1,911	88.33	7.30	$13,954
Nov 2007	0	3,714	91.67	7.29	$27,081
Oct 2007	0	4,154	82.85	6.92	$28,754
Sep 2007	0	3,326	75.84	6.24	$20,768
Aug 2007	0	3,697	69.06	6.39	$23,616
Jul 2007	0	4,129	70.90	6.39	$26,376
Jun 2007	0	4,085	62.00	7.55	$30,835
May 2007	0	4,574	58.74	7.85	$35,889
Apr 2007	0	3,635	59.61	7.81	$28,372
Mar 2007	0	4,090	56.92	7.30	$29,865
Feb 2007	0	4,810	55.10	8.22	$39,519
Jan 2007	0	4,833	50.30	6.73	$32,511
Dec 2006	0	5,067	56.65	6.92	$35,056
Nov 2006	0	4,674	54.20	7.62	$35,604
Oct 2006	0	5,136	54.90	6.01	$30,887
Sep 2006	0	4,965	60.08	5.04	$25,010
Aug 2006	0	5,186	68.71	7.34	$38,065
Jul 2006	0	5,290	69.37	6.34	$33,553
Jun 2006	0	5,087	66.28	6.38	$32,475
May 2006	0	5,623	66.01	6.42	$36,128
Apr 2006	0	6,022	64.39	7.36	$44,325
Mar 2006	0	6,095	56.70	7.08	$43,170
Feb 2006	0	5,798	57.59	7.75	$44,941
Jan 2006	0	5,475	60.59	8.93	$48,910
Dec 2005	0	5,913	54.94	13.42	$79,325
Nov 2005	0	5,743	54.69	10.59	$60,809
Oct 2005	0	5,777	58.34	13.80	$79,698
Sep 2005	0	6,515	61.45	12.08	$78,695
Aug 2005	0	4,520	61.51	9.80	$44,282
Jul 2005	0	6,803	55.69	7.84	$53,360
Jun 2005	0	6,960	52.33	7.38	$51,372
May 2005	0	7,471	45.22	6.65	$49,691
Apr 2005	0	6,755	49.20	7.36	$49,720
Mar 2005	0	7,544	50.37	7.15	$53,976
Feb 2005	0	6,861	45.22	6.31	$43,306
Jan 2005	0	7,623	43.16	6.32	$48,194
Dec 2004	6	9,644	39.86	6.75	$65,347
Nov 2004	0	10,304	45.28	6.33	$65,229
Oct 2004	0	10,467	49.70	6.52	$68,194
Sep 2004	1	11,800	43.24	5.28	$62,393
Aug 2004	1	13,633	42.37	5.55	$75,715
Jul 2004	1	15,088	38.28	6.08	$91,836
Jun 2004	1	16,587	36.10	6.43	$106,741
May 2004	4	20,567	37.48	6.49	$133,724
Apr 2004	4	24,126	34.47	5.86	$141,479
Mar 2004	29	2,805	34.36	5.53	$16,508
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

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                1,170 Mcf  × $  3.08 =     $3,600

────────────────────────────────────────────────────
Month total                                   $3,600

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/197253 is the state's own key, not one this site invented.