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UNIVERSITY 48

University 48 is an oil lease in Crane County, Texas, operated by Formentera Operations LLC in the Block 31 (Devonian) field.

2 wells

3,927bbl oil, last 12 months−7% vs prior year
Operator
Formentera Operations LLC
County
Crane County
Field
Block 31 (Devonian)
RRC lease
08-44102

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Where it sits

This county

Crane CountyCraneUptonMidlandWinklerWardEctorCrane County
Crane County
Gas, last 12 months
13,269 mcf
Oil in Jul 2026
324 bbl

Production by month

Oil output fell 7% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 7% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 48, Aug 2023 to Jul 2026. Oil output fell 7% over the last 12 months. 3,927 bbl in the 12 months through Jul 2026, against 4,245 bbl in the 12 months before.Last 12 months: 3,927 bblbbl per monthmcf per month001005002001,0003001,5004002,0005002,500Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 7% over the last 12 monthsMonthly oil production and gas for UNIVERSITY 48, Aug 2023 to Jul 2026. Oil output fell 7% over the last 12 months. 3,927 bbl in the 12 months through Jul 2026, against 4,245 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month001005002001,0003001,5004002,0005002,500Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

71% of the gas went to a transmission line in the last 12 months

Flaring peaked at 82.5% of the gas in Jun 2026.

  • Transmission line (2)
  • Flared (4)
71% of the gas went to a transmission line in the last 12 monthsShare of UNIVERSITY 48 gas by disposition code each month, Aug 2023 to Jul 2026. 71% of the gas went to a transmission line in the last 12 months. Flaring peaked at 82.5% of the gas in Jun 2026.Share of the lease’s gas by disposition code, per month0%50%100%Flared 82.5%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
71% of the gas went to a transmission line in the last 12 monthsShare of UNIVERSITY 48 gas by disposition code each month, Aug 2023 to Jul 2026. 71% of the gas went to a transmission line in the last 12 months. Flaring peaked at 82.5% of the gas in Jun 2026.Share of gas by disposition code0%50%100%Flared 82.5%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    71% · 9,482 mcf

  • Flared (4)

    29% · 3,787 mcf

28.5% of the gas flared in the last 12 months. 14 months above 3%.

Who has run this lease

The operator changed 2 times, most recently in Nov 2023

Operators of this lease over timeApache Corporation, Jan 2020 to Jun 2021; Slant Operating, LLC, Jul 2021 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 20262020202120222023202420252026Changed Jul 2021Changed Nov 2023Apache CorporationJan 2020 to Jun 2021Slant Operating, LLCJul 2021 to Oct 2023Formentera Operations LLCNov 2023 to now
Operators of this lease over timeApache Corporation, Jan 2020 to Jun 2021; Slant Operating, LLC, Jul 2021 to Oct 2023; Formentera Operations LLC, Nov 2023 to Jul 20262020202120222023202420252026Changed Jul 2021Changed Nov 2023Apache CorporationJan 2020 to Jun 2021Slant Operating, LLCJul 2021 to Oct 2023Formentera Operations LLCNov 2023 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

2 wells on this lease

Wells on UNIVERSITY 48
API numberWell no.Status
42-103-360431Active
42-103-361353Active

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Eastex Crude Company, LLCOilGathers80Jan 1, 2023–
Shell Trading (Us) CompanyOilGathers20Jan 1, 2023–
Targa Midstream Services LLCCasinghead gasBuys100Jan 1, 2023–
Targa Midstream Services LLCCasinghead gasGathers100Jan 1, 2023–
Plains Marketing, L.p.OilGathers100Apr 30, 2013Jan 1, 2023
Apache CorporationCasinghead gasGathers100Jun 1, 2014Jul 1, 2021
Apache CorporationCasinghead gasBuys100Jun 1, 2014Jul 1, 2021

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

Who buys my oilOil price check

640 acres on the newest permit

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Permits for University 48
API numberWell no.Acreson the permit
42-103-361353640
42-103-360431640

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

Unit decimal checker

Estimate your royalty

36 months, newest first

Ledger for UNIVERSITY 48
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Formentera Operations3242481,1941,030164$80.46$2.89
Jun 2026Formentera Operations2723421,078189889$84.81$3.15
May 2026Formentera Operations3022291,033301732$102.13$2.94
Apr 2026Formentera Operations2894011,088836252$100.32$2.77
Mar 2026Formentera Operations3933761,2951,28411$91.38$3.04
Feb 2026Formentera Operations2932431,1321,09537$64.51$3.62
Jan 2026Formentera Operations2672561,1821,16616$60.04$7.72
Dec 2025Formentera Operations3123231,029596433$57.97$4.26
Nov 2025Formentera Operations376409984625359$60.06$3.79
Oct 2025Formentera Operations371345953283670$60.89$3.19
Sep 2025Formentera Operations352364957776181$63.96$2.97
Aug 2025Formentera Operations3763581,3441,30143$64.86$2.91
Jul 2025Formentera Operations3303171,2031,19112$68.39$3.20
Jun 2025Formentera Operations3413881,0651,05213$68.17$3.02
May 2025Formentera Operations345320993868125$62.17$3.12
Apr 2025Formentera Operations3524101,101778323$63.54$3.42
Mar 2025Formentera Operations3783351,3091,3090$68.24$4.12
Feb 2025Formentera Operations3433091,2641,2640$71.53$4.19
Jan 2025Formentera Operations4735111,3551,32926$75.74$4.13
Dec 2024Formentera Operations4023521,239772467$70.12$3.01
Nov 2024Formentera Operations3413391,2551,23421$69.95$2.12
Oct 2024Formentera Operations3002871,2891,21079$71.99$2.20
Sep 2024Formentera Operations3023421,3511,3438$70.24$2.28
Aug 2024Formentera Operations3383381,5971,5970$76.68$1.99
Jul 2024Formentera Operations3734081,5031,5030$81.80$2.07
Jun 2024Formentera Operations3793541,0641,0640$79.77$2.54
May 2024Formentera Operations4003801,2471,2470$80.02$2.12
Apr 2024Formentera Operations4184391,3791,3790$85.35$1.60
Mar 2024Formentera Operations4083941,3771,3770$81.28$1.49
Feb 2024Formentera Operations4034071,1041,1040$77.25$1.72
Jan 2024Formentera Operations3573491,3381,3380$74.15$3.18
Dec 2023Formentera Operations3653271,5341,5340$71.90$2.52
Nov 2023Formentera Operations3143291,3931,3930$77.69$2.71
Oct 2023Slant Operating,2713001,3971,3970$85.64$2.98
Sep 2023Slant Operating,3453451,5371,52116$89.43$2.64
Aug 2023Slant Operating,4905271,7531,71538$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

OperatorFormentera Operations LLCFieldBlock 31 (Devonian)CountyCrane County

Formentera Operations LLC in Crane County

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Block 31 (Devonian) field

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