REAGAN-MERCER

Operated by BULWARK OIL & GAS, LLC (P-5 102061) in the LOST VALLEY (CADDO) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Oil lease lease 25012District 09Field 55050333NGPA filingOilCasinghead gasSaveExport
Value, all time
$1.3 M
Jan 1993 – May 2026
Value, last 12 filed months
$32 k
at the published price for each month
Months reported
401
no gaps in the span
Streams
2
oil, casinghead gas

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 62 leases and 99 wells, and the rule below applies to all of them.

Discovered
1971-12-30
as the register files it
Field class
Oil and gas
the register's own label
Between wells
933 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 1997-10-01.

The Commission's schedule remark for this field reads: PSEUDO RULES BUILT TO ACCOMMODATE MITCHELL'S HORIZ. WELL

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
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
OilDisposition26,357 bbl$985,829
Casinghead gasProduction88,637 Mcf$343,377
Total$1,329,206

19,970 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 33.3014, -98.3233. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.0 miles.

33.30136, -98.32333 · 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
4,999 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 4,999 ft.

Completions filed
Jan 1985
1 of 1 wells

1 well

42-2373653414,999 ftJan 1985

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 (401)

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

401 months

May 202600106.413.05$0
Apr 20260098.932.87$0
Mar 20260089.753.15$0
Feb 2026164063.503.75$10,414
Jan 20260059.138.00$0
Dec 20250056.664.41$0
Nov 20250058.593.93$0
Oct 2025166059.383.30$9,857
Sep 20250062.743.08$0
Aug 20250063.933.01$0
Jul 2025169066.743.32$11,279
Jun 20250066.483.13$0
May 20250060.553.23$0
Apr 20250062.363.54$0
Mar 20250067.704.27$0
Feb 2025168070.884.34$11,908
Jan 20250074.324.28$0
Dec 20240068.993.12$0
Nov 20240069.052.20$0
Oct 20240071.372.28$0
Sep 2024160069.612.36$11,138
Aug 20240075.632.06$0
Jul 2024170079.932.15$13,588
Jun 20240078.082.63$0
May 20240078.812.20$0
Apr 20241084.451.66$84
Mar 20240080.301.55$0
Feb 20240076.091.78$0
Jan 20240073.023.30$0
Dec 20230071.262.61$0
Nov 20230077.892.81$0
Oct 20230085.443.09$0
Sep 20230089.042.74$0
Aug 20230080.522.67$0
Jul 20230074.852.64$0
Jun 20230068.962.26$0
May 20230070.622.23$0
Apr 20230078.122.24$0
Mar 20230072.852.39$0
Feb 20230075.112.47$0
Jan 20230076.533.39$0
Dec 20220076.415.73$0
Nov 20220085.005.65$0
Oct 20220087.185.86$0
Sep 20220084.888.16$0
Aug 20220094.529.13$0
Jul 202200101.587.54$0
Jun 202200115.097.98$0
May 202200109.378.43$0
Apr 202200104.226.84$0
Mar 202200108.885.08$0
Feb 20220091.054.86$0
Jan 20220081.844.54$0
Dec 20210071.323.90$0
Nov 20210077.435.24$0
Oct 20210079.795.71$0
Sep 20210069.865.35$0
Aug 20210066.024.22$0
Jul 20210070.783.98$0
Jun 2021169069.493.38$11,744
May 20210063.483.02$0
Apr 20210060.362.76$0
Mar 20210061.302.72$0
Feb 20210057.805.55$0
Jan 20210050.412.81$0
Dec 2020171044.642.68$7,633
Nov 20200038.772.71$0
Oct 20200036.972.48$0
Sep 20200037.091.99$0
Aug 20200039.982.39$0
Jul 2020168038.371.83$6,446
Jun 20200034.901.69$0
May 20200016.921.81$0
Apr 2020157014.751.80$2,316
Mar 20200030.341.86$0
Feb 20200049.881.98$0
Jan 20200057.252.09$0
Dec 201961059.012.30$3,600
Nov 20190055.302.75$0
Oct 2019112053.472.42$5,989
Sep 20190055.052.66$0
Aug 2019167053.112.30$8,869
Jul 2019156056.272.46$8,778
Jun 20190052.782.49$0
May 20190058.482.74$0
Apr 20190062.632.75$0
Mar 20190056.803.06$0
Feb 20190050.852.79$0
Jan 20190046.033.23$0
Dec 2018135046.594.19$6,290
Nov 201828052.934.24$1,482
Oct 20180061.443.40$0
Sep 20180059.543.11$0
Aug 20180059.403.07$0
Jul 20180065.142.93$0
Jun 20180060.183.08$0
May 201844065.382.90$2,877
Apr 201868063.842.90$4,341
Mar 2018232061.222.79$14,203
Feb 20180061.782.77$0
Jan 20180062.874.01$0
Dec 20170057.272.92$0
Nov 20170055.423.12$0
Oct 2017150049.292.98$7,394
Sep 20170047.523.09$0
Aug 20170045.373.00$0
Jul 20170043.873.09$0
Jun 2017129042.493.09$5,481
May 2017107045.373.26$4,855
Apr 20170047.933.21$0
Mar 20170046.772.98$0
Feb 20170050.452.95$0
Jan 2017160049.413.42$7,906
Dec 20160048.763.72$0
Nov 20160042.492.64$0
Oct 20160046.193.09$0
Sep 2016163041.553.10$6,773
Aug 20160041.442.92$0
Jul 20160041.622.92$0
Jun 20160045.352.69$0
May 20160042.521.99$0
Apr 20160036.561.99$0
Mar 20160033.011.79$0
Feb 20160026.472.06$0
Jan 2016108027.352.36$2,954
Dec 20150032.362.00$0
Nov 201526038.792.17$1,009
Oct 20150043.552.43$0
Sep 201544042.992.76$1,892
Aug 201576040.162.87$3,052
Jul 2015106048.152.95$5,104
Jun 20150056.152.88$0
May 20150055.212.96$0
Apr 2015177049.822.71$8,818
Mar 201534042.892.93$1,458
Feb 20150044.662.98$0
Jan 20150043.433.10$0
Dec 201484054.693.59$4,594
Nov 20140070.464.25$0
Oct 201466078.303.90$5,168
Sep 2014140086.164.05$12,062
Aug 20140089.394.04$0
Jul 2014173096.564.18$16,705
Jun 20140098.164.74$0
May 20140094.734.73$0
Apr 2014297095.944.81$28,494
Mar 20140095.895.06$0
Feb 201421097.406.19$2,045
Jan 20140090.404.86$0
Dec 20130791.824.35$30
Nov 2013135088.853.74$11,995
Oct 2013012097.423.78$454
Sep 20130134104.113.72$498
Aug 20130133104.253.52$469
Jul 20136283102.523.72$6,665
Jun 2013013494.403.93$527
May 2013015994.834.15$660
Apr 201314219793.964.28$14,186
Mar 2013022093.623.91$861
Feb 201315917391.233.42$15,097
Jan 2013017091.603.42$581
Dec 201215813886.773.42$14,182
Nov 2012015386.953.62$555
Oct 2012015689.383.40$530
Sep 201216515794.672.92$16,079
Aug 2012016992.662.91$491
Jul 2012171085.133.02$14,557
Jun 201216720279.822.52$13,839
May 2012023191.612.49$575
Apr 2012173394101.652.00$18,372
Mar 20121590105.052.22$16,703
Feb 201200101.102.57$0
Jan 201201698.092.73$44
Dec 20110096.873.24$0
Nov 20110095.723.31$0
Oct 201106384.983.65$230
Sep 2011020683.623.99$821
Aug 201106583.404.15$270
Jul 2011021494.144.52$967
Jun 201106392.904.64$292
May 2011018398.134.40$806
Apr 20110130105.964.33$563
Mar 2011021596.364.06$872
Feb 20110085.644.18$0
Jan 2011022086.504.59$1,010
Dec 201017122585.734.35$15,638
Nov 2010021880.843.80$827
Oct 2010022078.103.51$772
Sep 201001672.633.98$64
Aug 20100073.684.42$0
Jul 2010020772.554.74$980
Jun 201008270.364.91$403
May 2010010171.124.24$428
Apr 20100781.694.12$29
Mar 201016218278.394.39$13,498
Feb 2010028673.585.44$1,557
Jan 2010021774.365.96$1,294
Dec 2009027471.445.48$1,503
Nov 200917022274.593.75$13,513
Oct 2009035672.544.11$1,463
Sep 2009050265.543.06$1,539
Aug 200917623567.423.22$12,622
Jul 2009023061.133.46$797
Jun 200905266.163.90$203
May 2009022354.743.93$875
Apr 200909946.773.59$355
Mar 2009020842.144.06$844
Feb 2009026032.814.63$1,205
Jan 2009019835.865.37$1,063
Dec 2008019837.105.98$1,183
Nov 200817821155.496.86$11,325
Oct 2008038975.246.92$2,693
Sep 20080366101.767.88$2,883
Aug 20080346114.228.48$2,935
Jul 2008140305131.0811.39$21,825
Jun 20080269131.3313.03$3,506
May 20080242123.1711.57$2,801
Apr 20080229110.3110.45$2,394
Mar 20080292101.909.66$2,822
Feb 2008019992.538.77$1,745
Jan 2008027090.388.21$2,216
Dec 2007034788.337.30$2,534
Nov 2007038491.677.29$2,800
Oct 200716041482.856.92$16,122
Sep 2007037375.846.24$2,329
Aug 200716739469.066.39$14,050
Jul 2007039770.906.39$2,536
Jun 200718340962.007.55$14,433
May 2007040858.747.85$3,201
Apr 2007038359.617.81$2,989
Mar 200718738656.927.30$13,463
Feb 2007034555.108.22$2,835
Jan 2007039250.306.73$2,637
Dec 200618540356.656.92$13,268
Nov 2006038754.207.62$2,948
Oct 2006178054.906.01$9,772
Sep 2006037460.085.04$1,884
Aug 2006039768.717.34$2,914
Jul 200618140369.376.34$15,112
Jun 2006037966.286.38$2,419
May 2006036866.016.42$2,364
Apr 200618438264.397.36$14,659
Mar 2006050856.707.08$3,598
Feb 2006044357.597.75$3,434
Jan 200616952160.598.93$14,894
Dec 2005049954.9413.42$6,694
Nov 200518350654.6910.59$15,366
Oct 2005053558.3413.80$7,381
Sep 2005051361.4512.08$6,197
Aug 200518555761.519.80$16,836
Jul 2005047855.697.84$3,749
Jun 200518142852.337.38$12,631
May 2005051145.226.65$3,399
Apr 200518650549.207.36$12,868
Mar 2005046350.377.15$3,313
Feb 2005041545.226.31$2,619
Jan 200518244243.166.32$10,650
Dec 200417444739.866.75$9,953
Nov 2004043245.286.33$2,735
Oct 2004047249.706.52$3,075
Sep 200418444443.245.28$10,302
Aug 2004047842.375.55$2,653
Jul 200415146838.286.08$8,628
Jun 2004045336.106.43$2,914
May 200418246637.486.49$9,848
Apr 2004044134.475.86$2,584
Mar 200418545434.365.53$8,867
Feb 2004041432.455.51$2,281
Jan 200417645032.036.30$8,472
Dec 200318446230.266.30$8,479
Nov 2003143928.804.60$2,046
Oct 200318348428.174.76$7,459
Sep 2003047626.314.75$2,261
Aug 2003047629.765.13$2,442
Jul 200318049929.415.17$7,874
Jun 200317547628.565.98$7,846
May 2003053326.595.97$3,183
Apr 2003051926.675.41$2,806
Mar 200317646431.146.10$8,309
Feb 2003039633.487.93$3,139
Jan 200334344630.315.58$12,886
Dec 2002044326.914.85$2,150
Nov 200217144624.664.14$6,062
Oct 2002047826.464.23$2,022
Sep 200218246627.443.64$6,688
Aug 2002049425.963.16$1,563
Jul 200235155324.583.06$10,321
Jun 2002035223.733.34$1,175
May 2002033524.663.58$1,201
Apr 2002029723.653.51$1,043
Mar 2002039322.003.10$1,219
Feb 200216938018.222.38$3,982
Jan 200218616717.172.38$3,590
Dec 2001040716.932.36$962
Nov 2001040218.072.41$967
Oct 200118734219.782.53$4,564
Sep 200117943724.262.25$5,326
Aug 2001034124.873.05$1,041
Jul 200117948123.933.20$5,821
Jun 200118049824.563.82$6,325
May 200117762025.524.31$7,188
Apr 2001020824.685.34$1,110
Mar 2001019024.545.38$1,022
Feb 2001014527.755.77$836
Jan 200117930627.478.40$7,487
Dec 2000041426.889.12$3,777
Nov 200018141932.215.66$8,201
Oct 2000046931.235.15$2,413
Sep 200017744831.875.19$7,965
Aug 200017948329.644.54$7,499
Jul 2000047828.534.09$1,955
Jun 200018045029.304.40$7,253
May 2000046427.263.68$1,707
Apr 200017840324.513.12$5,619
Mar 200017644728.422.86$6,280
Feb 2000042127.622.73$1,148
Jan 200017943125.272.48$5,592
Dec 199916042424.282.42$4,912
Nov 1999043223.192.43$1,051
Oct 199918242920.982.80$5,021
Sep 1999043621.752.62$1,142
Aug 199916845219.262.88$4,535
Jul 199917645517.892.37$4,228
Jun 1999043015.942.36$1,016
May 199916743315.792.32$3,642
Apr 1999041715.102.21$921
Mar 199917441712.471.84$2,936
Feb 19991753729.981.82$2,423
Jan 199918041010.381.90$2,647
Dec 199804439.201.77$786
Nov 199818242110.892.19$2,902
Oct 1998045812.421.97$902
Sep 199817143012.592.08$3,048
Aug 199817844611.301.91$2,862
Jul 199816847311.742.24$3,031
Jun 1998447511.242.24$1,108
May 199818546612.622.21$3,363
Apr 199817643813.042.51$3,392
Mar 199818041512.802.31$3,262
Feb 1998039413.952.30$906
Jan 199818342614.702.15$3,608
Dec 199718544716.322.41$4,097
Nov 199717443918.193.09$4,521
Oct 1997049919.253.15$1,572
Sep 199716347017.742.95$4,280
Aug 199718173417.862.55$5,108
Jul 199717153217.582.25$4,202
Jun 199736046817.242.26$7,263
May 1997030518.972.31$704
Apr 1997029717.882.08$619
Mar 1997030518.951.94$591
Feb 199718232520.492.21$4,446
Jan 1997036723.483.54$1,299
Dec 1996043123.32$0
Nov 199617033121.97$3,735
Oct 1996042323.31$0
Sep 199617139822.22$3,800
Aug 199617642620.26$3,566
Jul 1996045019.55$0
Jun 199618145918.73$3,390
May 199617048419.43$3,303
Apr 199615945221.51$3,420
Mar 1996048119.38$0
Feb 199617142316.98$2,904
Jan 199618143917.07$3,090
Dec 199516140717.19$2,768
Nov 1995024016.00$0
Oct 199516734315.43$2,577
Sep 199517933316.18$2,896
Aug 199517037115.92$2,706
Jul 199517839415.24$2,713
Jun 1995036416.41$0
May 199517838717.56$3,126
Apr 199517633017.73$3,120
Mar 199517336616.44$2,844
Feb 199518732916.58$3,100
Jan 199518737815.92$2,977
Dec 199417338115.03$2,600
Nov 199417737415.90$2,814
Oct 1994042515.58$0
Sep 199417249115.29$2,630
Aug 199436840816.13$5,936
Jul 1994031117.56$0
Jun 1994036217.09$0
May 199417940115.88$2,843
Apr 1994044214.14$0
Mar 199418643912.46$2,318
Feb 199418841812.50$2,350
Jan 199418044512.66$2,279
Dec 199318343512.33$2,256
Nov 199317842214.49$2,579
Oct 199317545815.85$2,774
Sep 199318445115.03$2,766
Aug 1993047515.66$0
Jul 199318349415.46$2,829
Jun 199317251116.79$2,888
May 199318048917.68$3,182
Apr 199318146218.05$3,267
Mar 199317851518.14$3,229
Feb 199317444217.90$3,115
Jan 199317648016.93$2,980

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.

Feb 2026 — as filed, then multipliedworked
Oil                  164 bbl  × $ 63.50 =    $10,414
Casinghead gas         0 Mcf  × $  3.75 =         $0

────────────────────────────────────────────────────
Month total                                  $10,414

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/O/25012 is the state's own key, not one this site invented.