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Texas oil lease

Producing

MERCHANT

Merchant is an oil lease in Reagan County, Texas, operated by OXY USA WTP LP in the Spraberry (Trend Area) R 40 Exc field.

35 wells

102,965bbl oil, last 12 months−27% vs prior year
Operator
OXY USA WTP LP
County
Reagan County
Field
Spraberry (Trend Area) R 40 Exc
RRC lease
7C-18787

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Where it sits

This county

Reagan CountyReaganIrionSterlingUptonMidlandGlasscockReagan County
Reagan County
Gas, last 12 months
2,340,547 mcf
Oil in Jul 2026
8,845 bbl

Production by month

Oil output fell 27% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 27% over the last 12 monthsMonthly oil production and gas for MERCHANT, Aug 2023 to Jul 2026. Oil output fell 27% over the last 12 months. 102,965 bbl in the 12 months through Jul 2026, against 140,378 bbl in the 12 months before.Last 12 months: 102,965 bblbbl per monthmcf per month0010k100k20k200k30k300k40k400k50k500kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 27% over the last 12 monthsMonthly oil production and gas for MERCHANT, Aug 2023 to Jul 2026. Oil output fell 27% over the last 12 months. 102,965 bbl in the 12 months through Jul 2026, against 140,378 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month0010k100k20k200k30k300k40k400k50k500kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

96% of the gas went to a processing plant in the last 12 months

  • Processing plant (3)
  • Transmission line (2)
  • Flared (4)
96% of the gas went to a processing plant in the last 12 monthsShare of MERCHANT gas by disposition code each month, Aug 2023 to Jul 2026. 96% of the gas went to a processing plant in the last 12 months.Share of the lease’s gas by disposition code, per month0%50%100%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
96% of the gas went to a processing plant in the last 12 monthsShare of MERCHANT gas by disposition code each month, Aug 2023 to Jul 2026. 96% of the gas went to a processing plant in the last 12 months.Share of gas by disposition code0%50%100%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Processing plant (3)

    96% · 2,252,940 mcf

  • Transmission line (2)

    3.7% · 87,502 mcf

  • Flared (4)

    0.0% · 105 mcf

35 wells on this lease

Wells on MERCHANT
API numberWell no.Status
42-383-386291411HBActive
42-383-386301411HAActive
42-383-386762311HDActive
42-383-386771111HBActive
42-383-386841401WDActive
42-383-386852311HCShut-in
42-383-389921401CLActive
42-383-389931401CUActive
42-383-389941401BUActive
42-383-390131401AActive
42-383-390231401BLActive
42-383-390571402BLActive
42-383-390581402CUActive
42-383-390971601BUActive
42-383-391001402CLActive
42-383-393701408BLActive
42-383-393711407BUActive
42-383-393721408AActive
42-383-394421409AActive
42-383-394441409BUActive
42-383-394991404BUActive
42-383-395001404AActive
42-383-395011414BActive
42-383-395021414AActive
42-383-395031406AActive
42-383-395041406BUActive
42-383-395151601WDActive
42-383-395471410BUActive
42-383-395541410AActive
42-383-395561412BAActive
42-383-395571412BUActive
42-383-395581412AActive
42-383-395651416BLActive
42-383-395661416AActive
42-383-414091189CPActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Bridger Transportation, LLCOilGathers50Dec 20, 2016
Plains Pipeline L.p.OilGathers50Dec 20, 2016
Energy Transfer CompanyCasinghead gasBuys100Jun 10, 2014
Energy Transfer CompanyCasinghead gasGathers100Jun 10, 2014

SourceRailroad Commission Form P-4 file, Sep 24, 2026 (source).

Who buys my oilOil price check

3,520 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 3,520 and 3,843.32 acres. Use the acres from your own division order for the well you are paid on.

  • Good to know

    35 wells are listed on this lease

    Each well can have its own unit. The decimal for one well does not have to equal the decimal for another.

  • Worth asking

    A Rule 37 case is listed

    The RRC permit records list a Rule 37 case. This does not establish your royalty share. Ask for the permit and unit plat for your well.

Check your decimal on this lease
Permits for Merchant
API numberWell no.Acreson the permit
42-383-414091189CP3,520
42-383-395651416BL3,520
42-383-395661416A3,520
42-383-395561412BA3,520
42-383-395571412BU3,520
42-383-395581412A3,520
42-383-395541410A3,520
42-383-395471410BU3,520
42-383-395151601WD3,520
42-383-394991404BU3,520
42-383-395001404A3,520
42-383-395011414B3,520

SourceRailroad Commission drilling permits, Oct 3, 2026 (source 1, source 2).

Unit decimal checker

What Occidental Petroleum Corporation told investors it received

OXY USA WTP LP is linked to Occidental Petroleum Corporation (OXY).
Realized prices reported by Occidental Petroleum Corporation
QuarterOil$ per bblFiling
Q2 2026$96.78SEC filing
Q1 2026$69.91SEC filing
Q4 2025$58.99SEC filing
Q3 2025$64.78SEC filing
Q2 2025$63.76SEC filing
Q1 2025$71.07SEC filing

SourceOccidental Petroleum Corporation quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for MERCHANT
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20268,8458,919205,277205,2770$80.46$2.89
Jun 20268,5408,409245,423245,4230$84.81$3.15
May 202610,0619,908252,067252,0670$102.13$2.94
Apr 20269,1368,905162,809162,8090$100.32$2.77
Mar 20267,6947,467105,421105,4210$91.38$3.04
Feb 20266,7076,831125,467125,4670$64.51$3.62
Jan 20268,6728,882147,866147,8660$60.04$7.72
Dec 20258,8308,844198,747198,7470$57.97$4.26
Nov 20257,9067,697186,042186,0420$60.06$3.79
Oct 20257,8027,850205,959205,9590$60.89$3.19
Sep 20258,0449,101210,187210,082105$63.96$2.97
Aug 202510,72810,410295,282295,2820$64.86$2.91
Jul 20259,7689,727301,419301,4190$68.39$3.20
Jun 202510,18310,209297,497297,4943$68.17$3.02
May 202511,20311,343310,583310,5830$62.17$3.12
Apr 202511,11711,097314,986314,9860$63.54$3.42
Mar 202514,06713,825314,766314,7660$68.24$4.12
Feb 202511,08311,201290,860290,78278$71.53$4.19
Jan 202513,67613,504356,572356,5720$75.74$4.13
Dec 202411,12011,269353,972353,9720$70.12$3.01
Nov 202410,69910,537344,259344,2590$69.95$2.12
Oct 202412,10812,125376,956376,9560$71.99$2.20
Sep 202413,05113,225370,132370,1320$70.24$2.28
Aug 202412,30312,460402,667402,6670$76.68$1.99
Jul 202413,57313,436000$81.80$2.07
Jun 202412,49212,324361,077359,7361,341$79.77$2.54
May 202415,70816,239394,924394,91311$80.02$2.12
Apr 202415,66915,223398,348398,3480$85.35$1.60
Mar 202416,89117,061430,850430,8491$81.28$1.49
Feb 202417,94218,025408,383408,3830$77.25$1.72
Jan 202420,31620,300420,327418,6361,691$74.15$3.18
Dec 202326,35128,447452,651452,63318$71.90$2.52
Nov 202331,51129,400409,013409,00112$77.69$2.71
Oct 202314,67214,281376,144376,1431$85.64$2.98
Sep 20237,5957,543294,920294,249671$89.43$2.64
Aug 20239,1689,102346,346346,3460$81.39$2.58

SourceTexas Railroad Commission Production Data Query, through Jul 2026. Prices: EIA, through Aug 2026. Updated Oct 2, 2026.

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Nearby

This lease belongs to

OperatorOXY USA WTP LPFieldSpraberry (Trend Area) R 40 ExcCountyReagan County

OXY USA WTP LP in Reagan County

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Spraberry (Trend Area) R 40 Exc field

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