BACON RANCH
Operated by SMITH PIPE OF ABILENE (P-5 794745) in the SAWYER (CANYON) 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 6,629 leases and 6,629 wells, and the rule below applies to all of them.
A drilling unit in this field needs at least 40 acres. The field rule took effect on 2003-06-24.
The Commission's schedule remark for this field reads: “FIELD PER ORDER 7C-0234582 6/2403”
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 |
|---|---|---|---|
| Gas | Production | 13,634 Mcf | $60,369 |
| Total | $60,369 | ||
Every month this lease reported (73)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
73 months
| May 2006 | 0 | 66.01 | 6.42 | $0 |
| Apr 2006 | 0 | 64.39 | 7.36 | $0 |
| Mar 2006 | 0 | 56.70 | 7.08 | $0 |
| Feb 2006 | 0 | 57.59 | 7.75 | $0 |
| Jan 2006 | 86 | 60.59 | 8.93 | $768 |
| Dec 2005 | 66 | 54.94 | 13.42 | $885 |
| Nov 2005 | 12 | 54.69 | 10.59 | $127 |
| Oct 2005 | 18 | 58.34 | 13.80 | $248 |
| Sep 2005 | 8 | 61.45 | 12.08 | $97 |
| Aug 2005 | 14 | 61.51 | 9.80 | $137 |
| Jul 2005 | 8 | 55.69 | 7.84 | $63 |
| Jun 2005 | 21 | 52.33 | 7.38 | $155 |
| May 2005 | 12 | 45.22 | 6.65 | $80 |
| Apr 2005 | 11 | 49.20 | 7.36 | $81 |
| Mar 2005 | 9 | 50.37 | 7.15 | $64 |
| Feb 2005 | 6 | 45.22 | 6.31 | $38 |
| Jan 2005 | 12 | 43.16 | 6.32 | $76 |
| Dec 2004 | 12 | 39.86 | 6.75 | $81 |
| Nov 2004 | 20 | 45.28 | 6.33 | $127 |
| Oct 2004 | 16 | 49.70 | 6.52 | $104 |
| Sep 2004 | 23 | 43.24 | 5.28 | $122 |
| Aug 2004 | 31 | 42.37 | 5.55 | $172 |
| Jul 2004 | 28 | 38.28 | 6.08 | $170 |
| Jun 2004 | 22 | 36.10 | 6.43 | $142 |
| May 2004 | 18 | 37.48 | 6.49 | $117 |
| Apr 2004 | 26 | 34.47 | 5.86 | $152 |
| Mar 2004 | 17 | 34.36 | 5.53 | $94 |
| Feb 2004 | 24 | 32.45 | 5.51 | $132 |
| Jan 2004 | 24 | 32.03 | 6.30 | $151 |
| Dec 2003 | 51 | 30.26 | 6.30 | $321 |
| Nov 2003 | 71 | 28.80 | 4.60 | $326 |
| Oct 2003 | 53 | 28.17 | 4.76 | $252 |
| Sep 2003 | 77 | 26.31 | 4.75 | $366 |
| Aug 2003 | 42 | 29.76 | 5.13 | $215 |
| Jul 2003 | 97 | 29.41 | 5.17 | $502 |
| Jun 2003 | 97 | 28.56 | 5.98 | $580 |
| May 2003 | 308 | 26.59 | 5.97 | $1,840 |
| Apr 2003 | 229 | 26.67 | 5.41 | $1,238 |
| Mar 2003 | 78 | 31.14 | 6.10 | $475 |
| Feb 2003 | 20 | 33.48 | 7.93 | $159 |
| Jan 2003 | 156 | 30.31 | 5.58 | $871 |
| Dec 2002 | 72 | 26.91 | 4.85 | $349 |
| Nov 2002 | 75 | 24.66 | 4.14 | $310 |
| Oct 2002 | 193 | 26.46 | 4.23 | $816 |
| Sep 2002 | 441 | 27.44 | 3.64 | $1,603 |
| Aug 2002 | 170 | 25.96 | 3.16 | $538 |
| Jul 2002 | 242 | 24.58 | 3.06 | $741 |
| Jun 2002 | 126 | 23.73 | 3.34 | $421 |
| May 2002 | 300 | 24.66 | 3.58 | $1,075 |
| Apr 2002 | 264 | 23.65 | 3.51 | $927 |
| Mar 2002 | 426 | 22.00 | 3.10 | $1,322 |
| Feb 2002 | 436 | 18.22 | 2.38 | $1,036 |
| Jan 2002 | 58 | 17.17 | 2.38 | $138 |
| Dec 2001 | 0 | 16.93 | 2.36 | $0 |
| Nov 2001 | 464 | 18.07 | 2.41 | $1,116 |
| Oct 2001 | 352 | 19.78 | 2.53 | $890 |
| Sep 2001 | 490 | 24.26 | 2.25 | $1,103 |
| Aug 2001 | 558 | 24.87 | 3.05 | $1,704 |
| Jul 2001 | 569 | 23.93 | 3.20 | $1,819 |
| Jun 2001 | 501 | 24.56 | 3.82 | $1,916 |
| May 2001 | 598 | 25.52 | 4.31 | $2,576 |
| Apr 2001 | 724 | 24.68 | 5.34 | $3,863 |
| Mar 2001 | 372 | 24.54 | 5.38 | $2,000 |
| Feb 2001 | 167 | 27.75 | 5.77 | $963 |
| Jan 2001 | 253 | 27.47 | 8.40 | $2,125 |
| Dec 2000 | 308 | 26.88 | 9.12 | $2,810 |
| Nov 2000 | 261 | 32.21 | 5.66 | $1,477 |
| Oct 2000 | 385 | 31.23 | 5.15 | $1,981 |
| Sep 2000 | 388 | 31.87 | 5.19 | $2,012 |
| Aug 2000 | 256 | 29.64 | 4.54 | $1,162 |
| Jul 2000 | 1,105 | 28.53 | 4.09 | $4,519 |
| Jun 2000 | 1,257 | 29.30 | 4.40 | $5,527 |
| May 2000 | 0 | 27.26 | 3.68 | $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.
Gas 86 Mcf × $ 8.93 = $768 ──────────────────────────────────────────────────── Month total $768
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. 7C/G/177834 is the state's own key, not one this site invented.