REED 2

Name: REED 2 lease production and value, May 2005 onwards
Creator: Railroad Commission of Texas
License: https://www.rrc.texas.gov/site-policies/

Operated by CHESAPEAKE OPERATING, L.L.C. (P-5 147699) in the B & B (GRANITE WASH) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Gas lease lease 210025District 10Field 046605002 tax incentive programmesCondensateGasSave Export

Value, all time

$4.2 M

May 2005 – Mar 2015

Value, last 12 filed months

$2 k

at the published price for each month

Months reported

119

no gaps in the span

Streams

condensate, gas

The B & B (GRANITE WASH) 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 66 leases and 69 wells, and the rule below applies to all of them.

Discovered

1982-01-04

as the register files it

Field class

Oil and gas

the register's own label

Between wells

660 ft

minimum

From a lease line

467 ft

minimum

A drilling unit in this field needs at least 40 acres. The field rule took effect on 2009-01-15.

The Commission's schedule remark for this field reads: “P-15'S AND PLATS ARE REQUIRED FOR HORIZONTAL WELLS.”

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	2006-04-12	164763
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	15,469 bbl	$925,920
Gas	Production	496,794 Mcf	$3,281,220
Total			$4,207,141

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 35.5411, -100.1635. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.0 miles.

35.54113, -100.16354 · 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

13,200 ft

1 wells filed one

Completion to plug

9.8 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 13,200 ft.

Completions filed

May 2005

1 of 1 wells

Plug dates filed

Mar 2015

1 of 1 wells

Last completion to plug: a median of 9.8 years across the 1 well that filed both dates, with the middle half between 9.8 years and 9.8 years. The gap is the distance between two filed dates. It is not a statement of how long the well produced.

1 well


42-48331814	4	13,200 ft	May 2005	Mar 2015	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 (119)

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

119 months


Mar 2015	38	0	42.89	2.93	$1,630
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	64	0	88.85	3.74	$5,686
Oct 2013	0	0	97.42	3.78	$0
Sep 2013	0	0	104.11	3.72	$0
Aug 2013	0	0	104.25	3.52	$0
Jul 2013	0	0	102.52	3.72	$0
Jun 2013	0	230	94.40	3.93	$905
May 2013	0	579	94.83	4.15	$2,402
Apr 2013	0	526	93.96	4.28	$2,253
Mar 2013	0	771	93.62	3.91	$3,017
Feb 2013	0	370	91.23	3.42	$1,265
Jan 2013	0	703	91.60	3.42	$2,404
Dec 2012	0	512	86.77	3.42	$1,751
Nov 2012	0	453	86.95	3.62	$1,642
Oct 2012	0	499	89.38	3.40	$1,696
Sep 2012	0	473	94.67	2.92	$1,380
Aug 2012	1	533	92.66	2.91	$1,643
Jul 2012	0	963	85.13	3.02	$2,909
Jun 2012	0	550	79.82	2.52	$1,385
May 2012	0	245	91.61	2.49	$610
Apr 2012	0	926	101.65	2.00	$1,849
Mar 2012	0	1,282	105.05	2.22	$2,849
Feb 2012	0	2,084	101.10	2.57	$5,356
Jan 2012	0	1,371	98.09	2.73	$3,748
Dec 2011	0	2,323	96.87	3.24	$7,526
Nov 2011	0	1,863	95.72	3.31	$6,169
Oct 2011	0	1,507	84.98	3.65	$5,498
Sep 2011	0	871	83.62	3.99	$3,472
Aug 2011	0	614	83.40	4.15	$2,548
Jul 2011	0	624	94.14	4.52	$2,819
Jun 2011	0	540	92.90	4.64	$2,506
May 2011	0	2,336	98.13	4.40	$10,290
Apr 2011	0	2,845	105.96	4.33	$12,328
Mar 2011	0	2,970	96.36	4.06	$12,050
Feb 2011	0	2,598	85.64	4.18	$10,860
Jan 2011	0	2,671	86.50	4.59	$12,257
Dec 2010	0	1,979	85.73	4.35	$8,604
Nov 2010	0	1,725	80.84	3.80	$6,547
Oct 2010	0	1,593	78.10	3.51	$5,590
Sep 2010	0	1,010	72.63	3.98	$4,019
Aug 2010	0	354	73.68	4.42	$1,564
Jul 2010	0	424	72.55	4.74	$2,008
Jun 2010	0	1,408	70.36	4.91	$6,914
May 2010	0	532	71.12	4.24	$2,253
Apr 2010	73	848	81.69	4.12	$9,459
Mar 2010	117	2,589	78.39	4.39	$20,534
Feb 2010	0	2,932	73.58	5.44	$15,957
Jan 2010	198	3,772	74.36	5.96	$37,220
Dec 2009	8	4,729	71.44	5.48	$26,504
Nov 2009	213	4,771	74.59	3.75	$33,786
Oct 2009	198	5,818	72.54	4.11	$38,276
Sep 2009	186	7,918	65.54	3.06	$36,457
Aug 2009	180	10,052	67.42	3.22	$44,488
Jul 2009	382	12,670	61.13	3.46	$67,247
Jun 2009	953	14,738	66.16	3.90	$120,455
May 2009	602	18,161	54.74	3.93	$104,249
Apr 2009	1,182	21,347	46.77	3.59	$131,865
Mar 2009	1,220	23,182	42.14	4.06	$145,507
Feb 2009	12	2,540	32.81	4.63	$12,162
Jan 2009	9	3,106	35.86	5.37	$17,005
Dec 2008	4	2,933	37.10	5.98	$17,679
Nov 2008	199	2,930	55.49	6.86	$31,143
Oct 2008	9	2,946	75.24	6.92	$21,069
Sep 2008	7	2,855	101.76	7.88	$23,201
Aug 2008	3	2,988	114.22	8.48	$25,690
Jul 2008	191	2,971	131.08	11.39	$58,874
Jun 2008	203	2,973	131.33	13.03	$65,406
May 2008	11	3,169	123.17	11.57	$38,034
Apr 2008	14	3,191	110.31	10.45	$34,906
Mar 2008	13	3,190	101.90	9.66	$32,153
Feb 2008	192	3,017	92.53	8.77	$44,227
Jan 2008	17	3,269	90.38	8.21	$28,361
Dec 2007	192	3,474	88.33	7.30	$42,326
Nov 2007	7	3,487	91.67	7.29	$26,068
Oct 2007	181	3,817	82.85	6.92	$41,417
Sep 2007	8	3,855	75.84	6.24	$24,678
Aug 2007	195	4,246	69.06	6.39	$40,590
Jul 2007	6	4,431	70.90	6.39	$28,730
Jun 2007	185	4,477	62.00	7.55	$45,264
May 2007	8	4,512	58.74	7.85	$35,872
Apr 2007	188	3,771	59.61	7.81	$40,640
Mar 2007	191	4,393	56.92	7.30	$42,949
Feb 2007	201	4,022	55.10	8.22	$44,120
Jan 2007	13	4,755	50.30	6.73	$32,640
Dec 2006	212	5,230	56.65	6.92	$48,193
Nov 2006	11	5,240	54.20	7.62	$40,512
Oct 2006	200	5,639	54.90	6.01	$44,892
Sep 2006	214	5,711	60.08	5.04	$41,625
Aug 2006	177	5,740	68.71	7.34	$54,293
Jul 2006	222	5,932	69.37	6.34	$53,025
Jun 2006	6	6,298	66.28	6.38	$40,603
May 2006	214	7,169	66.01	6.42	$60,187
Apr 2006	211	7,479	64.39	7.36	$68,635
Mar 2006	403	7,811	56.70	7.08	$78,175
Feb 2006	217	7,806	57.59	7.75	$73,002
Jan 2006	221	9,943	60.59	8.93	$102,214
Dec 2005	200	10,594	54.94	13.42	$153,111
Nov 2005	381	10,281	54.69	10.59	$129,696
Oct 2005	556	11,537	58.34	13.80	$191,599
Sep 2005	372	11,759	61.45	12.08	$164,896
Aug 2005	747	11,945	61.51	9.80	$162,971
Jul 2005	764	16,971	55.69	7.84	$175,662
Jun 2005	952	22,292	52.33	7.38	$214,356
May 2005	1,315	52,715	45.22	6.65	$410,080

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.

Mar 2015 — as filed, then multipliedworked

Condensate            38 bbl  × $ 42.89 =     $1,630
Gas                    0 Mcf  × $  2.93 =         $0

────────────────────────────────────────────────────
Month total                                   $1,630

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. 10/G/210025 is the state's own key, not one this site invented.