Texas oil lease · RRC district 08 · Lease 43874
ProducingKING 27
King 27 is an oil lease in Crane County, Texas, operated by Formentera Operations LLC in the McElroy field. The Railroad Commission shows 1,868 bbl of oil in the 12 months through Jul 2026.
Oil lease dossier · 5 wells
- Operator
- Formentera Operations LLC
- County
- Crane County
- Field
- McElroy
- RRC lease
- 08-43874
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Where it sits
This county
- Gas, last 12 months
- 4,424 mcf
- Oil in Jul 2026
- 166 bbl
- Reporting to the state
- since Jan 2020
- Wells
- 5
Production
Month by month, from the state record
Oil output rose 32% over the last 12 months
1,868 bbl in the 12 months through Jul 2026, against 1,415 bbl in the 12 months before.
- Oil (bars, left axis)
- Gas (line, right axis)
- Last 12 months
SourceTexas Railroad Commission Production Data Query, oil lease 43874, district 08. Reported through Jul 2026. The state revises recent months.
Gas disposition
Where the gas went
98% of the gas went to flaring in the last 12 months
Flaring peaked at 100.0% of the gas in Jul 2025.
- Transmission line (2)
- Flared (4)
SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 43874, district 08. Reported through Jul 2026.
Transmission line (2)
Sold straight into a pipeline without processing. Processing fees on your statement would be worth asking about.
Flared (4)
Burned off or vented, not sold. It pays no royalty. More than 3% in a month is worth watching.
Over the last 12 months, 98.3% of the gas was flared. 28 months went above 3%, which we mark in the ledger below.
Operator history
Who has run this lease
The operator changed 2 times, most recently in Nov 2023
If your statements skip or shrink around a change, ask the new operator's owner relations department whether the month is in suspense.
- Formentera Operations LLC Nov 2023 to now
- Slant Operating, LLC Jul 2021 to Oct 2023
- Apache Corporation Jan 2020 to Jun 2021
SourceTexas Railroad Commission Production Data Query, operator by month. Reported through Jul 2026.
Wells
5 wells on this lease
| API number | Well no. | Status | Total depthft |
|---|---|---|---|
| 42-103-36036 | 1SW | Shut-in | – |
| 42-103-36067 | 1H | Active | – |
| 42-103-36263 | 3H | Active | – |
| 42-103-36318 | 4H | Active | – |
| 42-103-36319 | 5H | Shut-in | – |
SourceTexas Railroad Commission Wellbore Query, district 08, lease 43874.
Estimator
Estimate your royalty for this lease
Estimator
What could your check be?
Your decimal interest is the small number on your division order that says what share of the whole lease (8/8ths) is yours. Type it in and we apply it to what the state says KING 27 sold each month.
For example 0.00097656, or a fraction like 1/1024.
Dollars per barrel. Your statements show the gap your operator uses. Leave 0 to price oil at WTI.
Your estimate appears here
An estimate, not your check
Ledger
36 months, newest first
| Month | Oil producedbbl | Oil soldbbl | Gas producedmcf | Gas soldmcf, codes 2+3 | Flaredmcf, code 4 | WTI$ per bbl | Henry Hub$ per MMBtu |
|---|---|---|---|---|---|---|---|
| Jul 2026Formentera Operations | 166 | 175 | 384 | 0 | 384 | $80.46 | $2.89 |
| Jun 2026Formentera Operations | 166 | 86 | 371 | 0 | 371 | $84.81 | $3.15 |
| May 2026Formentera Operations | 220 | 167 | 403 | 0 | 403 | $102.13 | $2.94 |
| Apr 2026Formentera Operations | 223 | 258 | 409 | 0 | 409 | $100.32 | $2.77 |
| Mar 2026Formentera Operations | 166 | 179 | 455 | 31 | 424 | $91.38 | $3.04 |
| Feb 2026Formentera Operations | 123 | 81 | 289 | 46 | 243 | $64.51 | $3.62 |
| Jan 2026Formentera Operations | 128 | 156 | 373 | 0 | 373 | $60.04 | $7.72 |
| Dec 2025Formentera Operations | 152 | 177 | 429 | 0 | 429 | $57.97 | $4.26 |
| Nov 2025Formentera Operations | 141 | 193 | 409 | 0 | 409 | $60.06 | $3.79 |
| Oct 2025Formentera Operations | 181 | 96 | 434 | 0 | 434 | $60.89 | $3.19 |
| Sep 2025Formentera Operations | 126 | 108 | 252 | 0 | 252 | $63.96 | $2.97 |
| Aug 2025Formentera Operations | 76 | 112 | 216 | 0 | 216 | $64.86 | $2.91 |
| Jul 2025Formentera Operations | 91 | 65 | 209 | 0 | 209 | $68.39 | $3.20 |
| Jun 2025Formentera Operations | 112 | 162 | 228 | 7 | 221 | $68.17 | $3.02 |
| May 2025Formentera Operations | 119 | 78 | 234 | 21 | 213 | $62.17 | $3.12 |
| Apr 2025Formentera Operations | 135 | 206 | 229 | 88 | 141 | $63.54 | $3.42 |
| Mar 2025Formentera Operations | 133 | 101 | 240 | 93 | 147 | $68.24 | $4.12 |
| Feb 2025Formentera Operations | 103 | 87 | 197 | 148 | 49 | $71.53 | $4.19 |
| Jan 2025Formentera Operations | 111 | 83 | 214 | 173 | 41 | $75.74 | $4.13 |
| Dec 2024Formentera Operations | 141 | 275 | 293 | 226 | 67 | $70.12 | $3.01 |
| Nov 2024Formentera Operations | 141 | 77 | 289 | 133 | 156 | $69.95 | $2.12 |
| Oct 2024Formentera Operations | 104 | 88 | 330 | 194 | 136 | $71.99 | $2.20 |
| Sep 2024Formentera Operations | 93 | 85 | 389 | 361 | 28 | $70.24 | $2.28 |
| Aug 2024Formentera Operations | 132 | 181 | 443 | 375 | 68 | $76.68 | $1.99 |
| Jul 2024Formentera Operations | 133 | 79 | 674 | 562 | 112 | $81.80 | $2.07 |
| Jun 2024Formentera Operations | 101 | 80 | 677 | 677 | 0 | $79.77 | $2.54 |
| May 2024Formentera Operations | 118 | 175 | 764 | 764 | 0 | $80.02 | $2.12 |
| Apr 2024Formentera Operations | 140 | 79 | 763 | 755 | 8 | $85.35 | $1.60 |
| Mar 2024Formentera Operations | 147 | 185 | 733 | 726 | 7 | $81.28 | $1.49 |
| Feb 2024Formentera Operations | 106 | 82 | 675 | 675 | 0 | $77.25 | $1.72 |
| Jan 2024Formentera Operations | 139 | 240 | 651 | 545 | 106 | $74.15 | $3.18 |
| Dec 2023Formentera Operations | 147 | 84 | 680 | 680 | 0 | $71.90 | $2.52 |
| Nov 2023Formentera Operations | 136 | 81 | 668 | 668 | 0 | $77.69 | $2.71 |
| Oct 2023Slant Operating, | 147 | 239 | 664 | 594 | 70 | $85.64 | $2.98 |
| Sep 2023Slant Operating, | 121 | 74 | 654 | 654 | 0 | $89.43 | $2.64 |
| Aug 2023Slant Operating, | 106 | 72 | 513 | 438 | 75 | $81.39 | $2.58 |
No report filed More than 3% of gas flared
SourceVolumes: Texas Railroad Commission Production Data Query, reported through Jul 2026. Prices: EIA WTI Cushing spot and Henry Hub spot, monthly, through Aug 2026. “Gas sold” is gas sent to a transmission line (code 2) or a plant (code 3).
Check your statements
Do your checks match this lease?
Upload your statements for KING 27. We compare volumes, prices, deductions and timing with the state record and give you the exact question to ask Formentera Operations LLC.
- A month that was never paid
- Your share of the barrels and mcf
- The price against WTI and Henry Hub
- Fees taken on gas
- Late payment interest
Around this lease
Walk the neighborhood
This lease belongs to
Formentera Operations LLC in Crane County
- TUBB, J. B. -C-
52,705 bbl last 12 months
- TUBB, J. B. -C-
44,730 bbl last 12 months
- J. B. TUBB A/C 1 TR A
25,952 bbl last 12 months
- TUBB, J. B. A/C #1
18,079 bbl last 12 months
- UNIVERSITY WADDELL DEVONIAN UNIT
19,480 bbl last 12 months
McElroy field
- MCELROY, J. T., CONS.
1,112,006 bbl last 12 months
- CRIER-MCELROY
467,169 bbl last 12 months
- NORTH MCELROY UNIT
409,127 bbl last 12 months
- MCCLINTIC UNIT
23,535 bbl last 12 months
- GOODBAR 89
13,058 bbl last 12 months
New drilling permits in Crane County
We do not have coordinates for this lease, so these are the newest permits in its county.
BLOCK 31 UNIT #K 3K
recompletion · Hilcorp Energy Company · Crane County
Permit 0918855 · Sep 25, 2026
LEA, P.J. ETAL #4029TH
new drill · horizontal · Ring Energy, Inc. · Crane County
Permit 0918012 · Sep 18, 2026
LEA, P.J. ETAL #4027TH
new drill · horizontal · Ring Energy, Inc. · Crane County
Permit 0918011 · Sep 18, 2026
LEA, P.J. ETAL #4026MH
new drill · horizontal · Ring Energy, Inc. · Crane County
Permit 0918008 · Sep 18, 2026
LEA, P.J. ETAL #4025JH
new drill · horizontal · Ring Energy, Inc. · Crane County
Permit 0918001 · Sep 17, 2026
How to read this page
Questions owners ask
What is a decimal interest?
It is your share of the whole lease, written as a decimal. A 1/4 royalty on 5 net acres in a 1,280-acre unit is 1/4 × 5 ÷ 1,280 = 0.00097656. Your division order states yours.
How do I use this page to check a royalty check?
Take the “Oil sold” volume for the month the check covers and multiply it by your decimal. The answer should match the barrels on your statement. If it does not, upload the statement and we will show where the two differ.
Why is the newest month Jul 2026?
The Railroad Commission publishes production two to three months after the fact and revises recent months. We re-pull the latest three months on every update.
Does this page show what my check should be?
No. It shows what the state recorded. Prices, fees and taxes depend on your lease and on what your operator gets for the oil and gas. The estimator gives a ceiling to compare against.
Sources and method
Where these numbers come from
- Production and disposition by month: Texas Railroad Commission Production Data Query, oil lease 43874, district 08, reported through Jul 2026.
- Wells: Texas Railroad Commission Wellbore Query.
- Prices: U.S. Energy Information Administration, WTI Cushing spot and Henry Hub spot, monthly.
- Page updated Sep 28, 2026.
We show the state’s numbers as filed. Where the state has no report for a month, we say so instead of guessing.