GORDON NC
Operated by GUNN OIL COMPANY (P-5 339493) in the HERMLEIGH (6200) 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 4 leases and 4 wells, and the rule below applies to all of them.
A drilling unit in this field needs at least 80 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 | 5,439 bbl | $418,756 |
| Casinghead gas | Production | 6,195 Mcf | $22,565 |
| Total | $441,321 | ||
Every month this lease reported (19)
Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.
19 months
| Oct 2015 | 0 | 0 | 43.55 | 2.43 | $0 |
| Sep 2015 | 0 | 0 | 42.99 | 2.76 | $0 |
| Aug 2015 | 0 | 0 | 40.16 | 2.87 | $0 |
| Jul 2015 | 167 | 344 | 48.15 | 2.95 | $9,054 |
| Jun 2015 | 171 | 411 | 56.15 | 2.88 | $10,787 |
| May 2015 | 174 | 463 | 55.21 | 2.96 | $10,975 |
| Apr 2015 | 344 | 441 | 49.82 | 2.71 | $18,332 |
| Mar 2015 | 172 | 440 | 42.89 | 2.93 | $8,668 |
| Feb 2015 | 177 | 283 | 44.66 | 2.98 | $8,747 |
| Jan 2015 | 329 | 382 | 43.43 | 3.10 | $15,473 |
| Dec 2014 | 338 | 318 | 54.69 | 3.59 | $19,627 |
| Nov 2014 | 161 | 269 | 70.46 | 4.25 | $12,488 |
| Oct 2014 | 327 | 371 | 78.30 | 3.90 | $27,051 |
| Sep 2014 | 328 | 392 | 86.16 | 4.05 | $29,846 |
| Aug 2014 | 515 | 540 | 89.39 | 4.04 | $48,215 |
| Jul 2014 | 512 | 550 | 96.56 | 4.18 | $51,738 |
| Jun 2014 | 675 | 596 | 98.16 | 4.74 | $69,081 |
| May 2014 | 1,049 | 395 | 94.73 | 4.73 | $101,239 |
| Apr 2014 | 0 | 0 | 95.94 | 4.81 | $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 167 bbl × $ 48.15 = $8,041 Casinghead gas 344 Mcf × $ 2.95 = $1,013 ──────────────────────────────────────────────────── Month total $9,054
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. 8A/O/70228 is the state's own key, not one this site invented.