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Producing

PHILLIPS UNIVERSITY "P"

Phillips University "P" is an oil lease in Andrews County, Texas, operated by Crescent Energy Operating, LLC in the Martin (Consolidated) field.

22 wells

22,226bbl oil, last 12 months−5% vs prior year
Operator
Crescent Energy Operating, LLC
County
Andrews County
Field
Martin (Consolidated)
RRC lease
08-37209

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Where it sits

This county

Andrews CountyAndrewsMartinGainesDawsonAndrews County
Andrews County
Gas, last 12 months
108,528 mcf
Oil in Jul 2026
1,725 bbl

Checks stopped on this lease?

  • Operator

    Operator changed: Crescent Energy Operating, LLC took over from Contango Resources, LLC in Nov 2025.

  • P-5

    The previous operator's P-5 registration is listed as inactive since May 1, 2026 (last P-5 filed Feb 20, 2025).

SourceRailroad Commission production, P-5 and P-4 records, data through Jul 2026.

See why checks stop on this lease

Production by month

Oil output fell 5% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 5% over the last 12 monthsMonthly oil production and gas for PHILLIPS UNIVERSITY "P", Aug 2023 to Jul 2026. Oil output fell 5% over the last 12 months. 22,226 bbl in the 12 months through Jul 2026, against 23,338 bbl in the 12 months before.Last 12 months: 22,226 bblbbl per monthmcf per month001,0002,5002,0005,0003,0007,5004,00010k5,00012.5kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 5% over the last 12 monthsMonthly oil production and gas for PHILLIPS UNIVERSITY "P", Aug 2023 to Jul 2026. Oil output fell 5% over the last 12 months. 22,226 bbl in the 12 months through Jul 2026, against 23,338 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001,0002,5002,0005,0003,0007,5004,00010k5,00012.5kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Since Jun 2025 the lease's gas goes to a transmission line instead of lease fuel

Flaring peaked at 16.2% of the gas in Feb 2024.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
Since Jun 2025 the lease's gas goes to a transmission line instead of lease fuelShare of PHILLIPS UNIVERSITY "P" gas by disposition code each month, Aug 2023 to Jul 2026. Since Jun 2025 the lease's gas goes to a transmission line instead of lease fuel. Flaring peaked at 16.2% of the gas in Feb 2024.Share of the lease’s gas by disposition code, per month0%50%100%Jun 2025: fuel to lineFlared 16.2%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since Jun 2025 the lease's gas goes to a transmission line instead of lease fuelShare of PHILLIPS UNIVERSITY "P" gas by disposition code each month, Aug 2023 to Jul 2026. Since Jun 2025 the lease's gas goes to a transmission line instead of lease fuel. Flaring peaked at 16.2% of the gas in Feb 2024.Share of gas by disposition code0%50%100%Jun 25: fuel to lineFlared 16.2%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    90% · 97,944 mcf

  • Flared (4)

    8.0% · 8,661 mcf

  • Lease fuel (1)

    1.8% · 1,923 mcf

8.0% of the gas flared in the last 12 months. 31 months above 3%.

Who has run this lease

The operator changed 4 times, most recently in Nov 2025

Operators of this lease over timeSheridan Production Company, LLC, Jan 2020 to Mar 2020; FDL Operating, LLC, Apr 2020 to Nov 2021; Contango Resources, Inc., Dec 2021 to Dec 2021; Contango Resources, LLC, Jan 2022 to Oct 2025; Crescent Energy Operating, LLC, Nov 2025 to Jul 20262020202120222023202420252026Changed Apr 2020Changed Dec 2021Changed Jan 2022Changed Nov 2025Sheridan Production Company,…Jan 2020 to Mar 2020FDL Operating, LLCApr 2020 to Nov 2021Contango Resources, Inc.Dec 2021 to Dec 2021Contango Resources, LLCJan 2022 to Oct 2025Crescent Energy Operating, LLCNov 2025 to now
Operators of this lease over timeSheridan Production Company, LLC, Jan 2020 to Mar 2020; FDL Operating, LLC, Apr 2020 to Nov 2021; Contango Resources, Inc., Dec 2021 to Dec 2021; Contango Resources, LLC, Jan 2022 to Oct 2025; Crescent Energy Operating, LLC, Nov 2025 to Jul 20262020202120222023202420252026Changed Apr 2020Changed Dec 2021Changed Jan 2022Changed Nov 2025Sheridan Production Company, LLCJan 2020 to Mar 2020FDL Operating, LLCApr 2020 to Nov 2021Contango Resources, Inc.Dec 2021 to Dec 2021Contango Resources, LLCJan 2022 to Oct 2025Crescent Energy Operating, LLCNov 2025 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

22 wells on this lease

Wells on PHILLIPS UNIVERSITY "P"
API numberWell no.Status
42-003-046861Shut-in
42-003-338582Shut-in
42-003-391563Active
42-003-393576Active
42-003-393585CActive
42-003-394987Active
42-003-395748Active
42-003-3975512Active
42-003-3975611Active
42-003-3975710Active
42-003-397589Active
42-003-4003315Active
42-003-4139118Shut-in
42-003-4147219Active
42-003-4154817Active
42-003-4158116Active
42-003-4158821Active
42-003-4158920Active
42-003-4159214Active
42-003-4159322Shut-in
42-003-4217423Active
42-003-4229424Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Sentinel Transportation, LLCOilGathers100Jul 1, 2015–
Dcp Operating Company, LPCasinghead gasBuys50Dec 1, 2021–
James Lake Midstream LLCCasinghead gasBuys50Dec 1, 2021–
Dcp Operating Company, LPCasinghead gasGathers50Dec 1, 2021–
James Lake Midstream LLCCasinghead gasGathers50Dec 1, 2021–
Dcp Operating Company, LPCasinghead gasGathers75Apr 1, 2017Dec 1, 2021
James Lake Midstream LLCCasinghead gasGathers25Apr 1, 2017Dec 1, 2021
Dcp Operating Company, LPCasinghead gasBuys75Apr 1, 2017Dec 1, 2021
James Lake Midstream LLCCasinghead gasBuys25Apr 1, 2017Dec 1, 2021

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

Who buys my oilOil price check

294.12 acres on the newest permit

  • Good to know

    The wells on this lease state different acreage

    The permits state between 168 and 640 acres. Use the acres from your own division order for the well you are paid on.

  • Good to know

    25 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 substandard-acreage flag is in the permit records

    The RRC permit records include a substandard-acreage flag. Ask which acreage applies to your well and how it was used in your decimal.

  • 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 Phillips University "P"
API numberWell no.Acreson the permit
42-003-4229424294.12
42-003-4217423294
42-003-4159322294
42-003-4159214294
42-003-4139118280
42-003-4158821294
42-003-4158920294
42-003-4158116294
42-003-4154817280
42-003-4147219280
42-003-4003315280
42-003-395748640

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

Unit decimal checker

What Crescent Energy Company told investors it received

Crescent Energy Operating, LLC is linked to Crescent Energy Company (CRGY).
Realized prices reported by Crescent Energy Company
QuarterOil$ per bblFiling
Q1 2026$71.00SEC filing
Q4 2025$62.21SEC filing
Q3 2025$63.07SEC filing
Q2 2025$61.47SEC filing
Q1 2025$67.64SEC filing
Q4 2024$67.51SEC filing

SourceCrescent Energy Company quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for PHILLIPS UNIVERSITY "P"
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Crescent Energy1,7252,0168,7757,7461,029$80.46$2.89
Jun 2026Crescent Energy1,4751,4577,8447,270574$84.81$3.15
May 2026Crescent Energy1,5161,3958,1857,487698$102.13$2.94
Apr 2026Crescent Energy1,6571,5418,5168,036480$100.32$2.77
Mar 2026Crescent Energy2,2222,4109,9209,149771$91.38$3.04
Feb 2026Crescent Energy1,9511,6348,9778,859118$64.51$3.62
Jan 2026Crescent Energy1,6491,8047,4687,068400$60.04$7.72
Dec 2025Crescent Energy2,2102,1529,3578,949408$57.97$4.26
Nov 2025Crescent Energy1,8431,8568,8518,410441$60.06$3.79
Oct 2025Contango Resources,2,0031,9299,6246,1661,550$60.89$3.19
Sep 2025Contango Resources,2,0212,28110,2339,591642$63.96$2.97
Aug 2025Contango Resources,1,9541,78510,7789,2131,550$64.86$2.91
Jul 2025Contango Resources,2,0312,08311,2099,1361,550$68.39$3.20
Jun 2025Contango Resources,1,5511,5188,6037,3821,221$68.17$3.02
May 2025Contango Resources,1,8612,00810,0863,0381,550$62.17$3.12
Apr 2025Contango Resources,2,0211,89810,1856,5311,550$63.54$3.42
Mar 2025Contango Resources,2,0571,90110,36910,123246$68.24$4.12
Feb 2025Contango Resources,1,7061,8958,3658,243122$71.53$4.19
Jan 2025Contango Resources,2,1532,01710,5469,0791,467$75.74$4.13
Dec 2024Contango Resources,2,0892,2819,6554,5771,550$70.12$3.01
Nov 2024Contango Resources,1,9641,88310,3247,5101,550$69.95$2.12
Oct 2024Contango Resources,1,9251,8119,8899,057832$71.99$2.20
Sep 2024Contango Resources,1,9932,1539,9328,936996$70.24$2.28
Aug 2024Contango Resources,1,9871,87210,3214,8751,550$76.68$1.99
Jul 2024Contango Resources,2,0232,18610,3426,0831,550$81.80$2.07
Jun 2024Contango Resources,2,2132,03011,20110,222979$79.77$2.54
May 2024Contango Resources,2,1012,19411,0458,7461,550$80.02$2.12
Apr 2024Contango Resources,1,9391,95811,1378,7261,550$85.35$1.60
Mar 2024Contango Resources,2,2592,2159,2329,119113$81.28$1.49
Feb 2024Contango Resources,2,3242,3198,8397,4051,434$77.25$1.72
Jan 2024Contango Resources,2,2092,2138,8118,547264$74.15$3.18
Dec 2023Contango Resources,2,4182,4979,4448,4341,010$71.90$2.52
Nov 2023Contango Resources,2,2832,3938,9838,419564$77.69$2.71
Oct 2023Contango Resources,2,3212,1219,9287,5771,550$85.64$2.98
Sep 2023Contango Resources,3,1263,11410,9208,4421,550$89.43$2.64
Aug 2023Contango Resources,3,3223,57810,9205,1181,550$81.39$2.58

Flared above 3%

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

OperatorCrescent Energy Operating, LLCFieldMartin (Consolidated)CountyAndrews County

Crescent Energy Operating, LLC in Andrews County

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Martin (Consolidated) field

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