WINDHAM

Operated by MERIT ENERGY COMPANY (P-5 561136) in the PEGASUS (SPRABERRY) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Oil lease lease 8469District 7CField 70279750OilCasinghead gasSaveExport
Value, all time
$657 k
Jan 1993 – Mar 2009
Value, last 12 filed months
$15 k
at the published price for each month
Months reported
195
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 38 leases and 194 wells, and the rule below applies to all of them.

Discovered
1952-01-08
as the register files it
Field class
Oil
the register's own label
Between wells
1,320 ft
minimum
From a lease line
660 ft
minimum

A drilling unit in this field needs at least 80 acres.

The Commission's schedule remark for this field reads: PEGASUS (CONSOLIDATED).

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
OilDisposition30,951 bbl$587,190
Casinghead gasProduction33,614 Mcf$69,798
Total$656,988

12,658 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.

Every month this lease reported (195)

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

195 months

Mar 20090042.144.06$0
Feb 20090032.814.63$0
Jan 20090035.865.37$0
Dec 20080037.105.98$0
Nov 20080055.496.86$0
Oct 20080075.246.92$0
Sep 20081450101.767.88$14,755
Aug 200800114.228.48$0
Jul 200800131.0811.39$0
Jun 200800131.3313.03$0
May 200800123.1711.57$0
Apr 200800110.3110.45$0
Mar 200800101.909.66$0
Feb 20080092.538.77$0
Jan 20080090.388.21$0
Dec 20070088.337.30$0
Nov 20070091.677.29$0
Oct 20070082.856.92$0
Sep 20070075.846.24$0
Aug 20070069.066.39$0
Jul 20070070.906.39$0
Jun 20070062.007.55$0
May 20070058.747.85$0
Apr 20070059.617.81$0
Mar 20070056.927.30$0
Feb 20070055.108.22$0
Jan 20070050.306.73$0
Dec 20060056.656.92$0
Nov 20060054.207.62$0
Oct 20060054.906.01$0
Sep 20060060.085.04$0
Aug 20060068.717.34$0
Jul 20060069.376.34$0
Jun 20060066.286.38$0
May 20060066.016.42$0
Apr 20060064.397.36$0
Mar 20060056.707.08$0
Feb 20060057.597.75$0
Jan 20060060.598.93$0
Dec 20050054.9413.42$0
Nov 20050054.6910.59$0
Oct 20050058.3413.80$0
Sep 20050061.4512.08$0
Aug 20050061.519.80$0
Jul 20050055.697.84$0
Jun 20050052.337.38$0
May 20050045.226.65$0
Apr 20050049.207.36$0
Mar 20050050.377.15$0
Feb 20050045.226.31$0
Jan 20050043.166.32$0
Dec 20040039.866.75$0
Nov 20040045.286.33$0
Oct 20040049.706.52$0
Sep 20040043.245.28$0
Aug 20040042.375.55$0
Jul 20040038.286.08$0
Jun 20040036.106.43$0
May 20040037.486.49$0
Apr 20040034.475.86$0
Mar 20040034.365.53$0
Feb 20040032.455.51$0
Jan 20040032.036.30$0
Dec 20030030.266.30$0
Nov 20030028.804.60$0
Oct 20030028.174.76$0
Sep 20030026.314.75$0
Aug 20030029.765.13$0
Jul 20030029.415.17$0
Jun 20030028.565.98$0
May 20030026.595.97$0
Apr 20030026.675.41$0
Mar 20030031.146.10$0
Feb 20030033.487.93$0
Jan 20030030.315.58$0
Dec 200202026.914.85$97
Nov 200204124.664.14$170
Oct 200203226.464.23$135
Sep 20021548327.443.64$4,527
Aug 20020025.963.16$0
Jul 20020024.583.06$0
Jun 20021795223.733.34$4,421
May 200218038624.663.58$5,822
Apr 200218036023.653.51$5,521
Mar 200217938422.003.10$5,129
Feb 200217934818.222.38$4,088
Jan 200218537617.172.38$4,070
Dec 200117839016.932.36$3,936
Nov 200136839518.072.41$7,600
Oct 200118340819.782.53$4,652
Sep 200118440224.262.25$5,369
Aug 200118942424.873.05$5,995
Jul 200118742723.933.20$5,840
Jun 200118841024.563.82$6,185
May 200118341525.524.31$6,458
Apr 200136839524.685.34$11,190
Mar 200118241124.545.38$6,676
Feb 200118535227.755.77$7,164
Jan 200137343527.478.40$13,900
Dec 200019243326.889.12$9,111
Nov 200019342432.215.66$8,616
Oct 200017644031.235.15$7,761
Sep 200036441131.875.19$13,732
Aug 200017740029.644.54$7,063
Jul 200017842728.534.09$6,825
Jun 200035942329.304.40$12,379
May 200018043127.263.68$6,493
Apr 200017341824.513.12$5,543
Mar 200035243028.422.86$11,234
Feb 200018338327.622.73$6,099
Jan 200018435525.272.48$5,530
Dec 199936338224.282.42$9,740
Nov 199918438123.192.43$5,194
Oct 199934937720.982.80$8,379
Sep 199918429121.752.62$4,764
Aug 199918439219.262.88$4,671
Jul 199936039717.892.37$7,382
Jun 199917637815.942.36$3,698
May 199935328815.792.32$6,242
Apr 199917334715.102.21$3,378
Mar 199918530712.471.84$2,871
Feb 19993393089.981.82$3,943
Jan 199918327010.381.90$2,413
Dec 19983581839.201.77$3,618
Nov 199817618010.892.19$2,310
Oct 199836120012.421.97$4,877
Sep 199818120412.592.08$2,704
Aug 199835722111.301.91$4,456
Jul 199817520811.742.24$2,520
Jun 199834320711.242.24$4,318
May 199829919812.622.21$4,210
Apr 199817117613.042.51$2,671
Mar 199836118212.802.31$5,041
Feb 199816715713.952.30$2,691
Jan 199835518114.702.15$5,609
Dec 199733816216.322.41$5,907
Nov 199717016418.193.09$3,599
Oct 199733920119.253.15$7,159
Sep 199734722017.742.95$6,806
Aug 199732826617.862.55$6,538
Jul 199717625517.582.25$3,667
Jun 199736125917.242.26$6,808
May 199736124018.972.31$7,402
Apr 199716822417.882.08$3,470
Mar 199734021118.951.94$6,852
Feb 199734118220.492.21$7,389
Jan 199733923623.483.54$8,795
Dec 199617520223.32$4,081
Nov 199635020321.97$7,690
Oct 199617128523.31$3,986
Sep 199638530722.22$8,555
Aug 199638331720.26$7,760
Jul 199635332319.55$6,901
Jun 199634532718.73$6,462
May 199634631319.43$6,723
Apr 199617929321.51$3,850
Mar 199634927019.38$6,764
Feb 199635920216.98$6,096
Jan 199617821917.07$3,038
Dec 199536121817.19$6,206
Nov 199518320816.00$2,928
Oct 199535323415.43$5,447
Sep 199552623216.18$8,511
Aug 199517623015.92$2,802
Jul 199536023315.24$5,486
Jun 199536027616.41$5,908
May 199517933217.56$3,143
Apr 199535927117.73$6,365
Mar 199553934316.44$8,861
Feb 199518230416.58$3,018
Jan 199535233615.92$5,604
Dec 199436132215.03$5,426
Nov 199436232015.90$5,756
Oct 199435734715.58$5,562
Sep 199436235215.29$5,535
Aug 199435739316.13$5,758
Jul 199435040317.56$6,146
Jun 199453738117.09$9,177
May 199436133015.88$5,733
Apr 199454137314.14$7,650
Mar 199418129512.46$2,255
Feb 199435818612.50$4,475
Jan 199409712.66$0
Dec 199317911612.33$2,207
Nov 199317811314.49$2,579
Oct 199318114415.85$2,869
Sep 199317716815.03$2,660
Aug 199318419515.66$2,881
Jul 199317622215.46$2,721
Jun 199317520616.79$2,938
May 199335723317.68$6,312
Apr 199318121418.05$3,267
Mar 199318423218.14$3,338
Feb 199317923217.90$3,204
Jan 199336530616.93$6,179

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.

Sep 2008 — as filed, then multipliedworked
Oil                  145 bbl  × $101.76 =    $14,755
Casinghead gas         0 Mcf  × $  7.88 =         $0

────────────────────────────────────────────────────
Month total                                  $14,755

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/8469 is the state's own key, not one this site invented.