COWDEN, J. M.
Operated by OLSEN ENERGY INC. (P-5 621750) in the TIPPETT (LEONARD, LOWER) 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 51 leases and 101 wells, and the rule below applies to all of them.
A drilling unit in this field needs at least 40 acres.
The register flags this field for hydrogen sulphide. That is a poisonous gas that occurs naturally in some formations. The flag is a property of the field as the Commission records it. It is not a measurement taken at this lease, and it is not a statement that gas is escaping anywhere.
The Commission's schedule remark for this field reads: “MULTIPLE 49B MAXIMUM 160 ACRES”
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 |
|---|---|---|---|
| Oil | Disposition | 378 bbl | $7,757 |
| Casinghead gas | Production | 5,378 Mcf | $8,479 |
| Total | $16,236 | ||
2,231 Mcf of this lease's gas, across 3 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.
Every month this lease reported (15)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
15 months
| Dec 1997 | 0 | 0 | 16.32 | 2.41 | $0 |
| Nov 1997 | 0 | 0 | 18.19 | 3.09 | $0 |
| Oct 1997 | 0 | 0 | 19.25 | 3.15 | $0 |
| Sep 1997 | 0 | 0 | 17.74 | 2.95 | $0 |
| Aug 1997 | 156 | 0 | 17.86 | 2.55 | $2,786 |
| Jul 1997 | 41 | 0 | 17.58 | 2.25 | $721 |
| Jun 1997 | 0 | 225 | 17.24 | 2.26 | $508 |
| May 1997 | 0 | 441 | 18.97 | 2.31 | $1,018 |
| Apr 1997 | 0 | 441 | 17.88 | 2.08 | $919 |
| Mar 1997 | 0 | 501 | 18.95 | 1.94 | $972 |
| Feb 1997 | 0 | 288 | 20.49 | 2.21 | $635 |
| Jan 1997 | 181 | 1,251 | 23.48 | 3.54 | $8,678 |
| Dec 1996 | 0 | 1,531 | 23.32 | — | $0 |
| Nov 1996 | 0 | 500 | 21.97 | — | $0 |
| Oct 1996 | 0 | 200 | 23.31 | — | $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.
Oil 156 bbl × $ 17.86 = $2,786 Casinghead gas 0 Mcf × $ 2.55 = $0 ──────────────────────────────────────────────────── Month total $2,786
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/O/14467 is the state's own key, not one this site invented.