Texas operator · RRC P-5 480113
L & M Operating, Inc.
L & M Operating, Inc. runs 19 producing leases in 2 Texas counties. The Railroad Commission shows 29,716 barrels of oil and 31,127 mcf of gas in the 12 months through Jul 2026.
Operator dossier · 2 counties
- Producing leases
- 19
- Counties
- 2
- Biggest county
- Reagan County
- Biggest field
- Price (Grayburg)
Get checks from L & M Operating, Inc.?
Upload a royalty check stub or a phone photo. We compare each month with the state numbers for the lease and tell you what to ask.
Where they work
fewermore
- Gas, last 12 months
- 31,127 mcf
- RRC operator no.
- 480113
- Leases on record
- 19
- Data through
- Jul 2026
Production
Five years of L & M Operating, Inc. output
Oil output from L & M Operating, Inc. fell 8% over the last 12 months
29.7k bbl in the 12 months through Jul 2026, against 32.3k bbl in the 12 months before. Peak month: Aug 2021, 3,653 bbl.
Gas output from L & M Operating, Inc. rose 5% over the last 12 months
31.1k mcf in the 12 months through Jul 2026, against 29.5k mcf in the 12 months before. Peak month: Jun 2023, 3,264 mcf.
SourceTexas Railroad Commission, Production Data Query, summed over every lease reported under operator 480113. Reported through Jul 2026, file dated Sep 18, 2026. The newest month is often revised as operators file late.
Leases
L & M Operating, Inc. leases, biggest first
7,138bbl oil−6% on the year before
3,540bbl oil+10% on the year before
2,483bbl oil−1% on the year before
1,935bbl oil+3% on the year before
1,825bbl oil−15% on the year before
1,700bbl oil−5% on the year before
1,627bbl oil−8% on the year before
1,268bbl oil+19% on the year before
1,126bbl oil+2% on the year before
1,122bbl oil−19% on the year before
1,081bbl oil+7% on the year before
940bbl oil−12% on the year before
912bbl oil−6% on the year before
815bbl oil−1% on the year before
669bbl oil−14% on the year before
527bbl oil−3% on the year before
409bbl oil0% on the year before
361bbl oil+6% on the year before
238bbl oil−10% on the year before
Showing 19 of 19.
SourceTexas Railroad Commission, Production Data Query. Ranked by an approximate value of last-12-month output, so oil and gas wells sort together.
Where they work
Counties and fields where L & M Operating, Inc. produces
Counties, by L & M Operating, Inc. oil
Reagan County leads
Fields, by L & M Operating, Inc. oil
Price (Grayburg) leads
- Price (Grayburg)7 producing leases · District 7C · Field 7308550015.8kbbl
- Farmer (San Andres)7 producing leases · District 7C · Field 302435008,069bbl
- Weger, West (Grayburg)2 producing leases · District 7C · Field 958745001,937bbl
- V-Bar (San Andres)1 producing lease · District 7C · Field 928135001,700bbl
- Weger, North1 producing lease · District 7C · Field 958690011,122bbl
- Double -R- (Crinoidal)1 producing lease · District 7C · Field 257825001,081bbl
Recent drilling permits for L & M Operating, Inc.
No recent drilling permits for L & M Operating, Inc. are in our data yet.
How to read the statement
How to read a L & M Operating, Inc. royalty statement
The header: who paid you, and for which check
Look for the payor name, your owner number, the check number and the check date. Keep the owner number: every call or letter to the operator starts with it.
What we knowL & M Operating, Inc. is Railroad Commission operator 480113. The name on your check may be a parent company or a payment subsidiary.
The property line: which lease this is
Each lease you own in gets its own block, named as the operator names it. That name can be shorter than the state's, or carry a suffix such as a well number or unit letter.
What we knowL & M Operating, Inc. runs 19 producing leases across 2 counties, so one check can list many properties. Find yours in the table above by name, or search for the name printed on the stub.
Product and volume: barrels, mcf, and the month
The stub shows the production month (the production month, not the check month), the product and your share of the volume. Divide your volume by your decimal to get the lease total, then compare it with the lease page.
What we knowFor example, open TEXAS -Y-, UNIVERSITY "49-6" or STATE"WX-A" and read the “oil sold” and “gas sold” columns.
Price: what the operator says it got
Oil is usually close to the WTI benchmark for the month. Gas prices vary widely: they depend on where the gas is sold and on what the operator subtracts before it reports a price.
Deductions: gathering, compression, processing
Costs taken after the well. Some leases allow them and some do not; your lease and division order say which. A deduction that appears in one month and not the next is worth a question.
Taxes: severance and ad valorem
Texas severance tax is taken from your share: 4.6% of oil value and 7.5% of gas value at market. Ad valorem tax may also appear. The rate on your stub should match these.
Net: gross, minus deductions and taxes, times your share
Check the arithmetic: volume times price gives gross value, then subtract deductions and taxes. If the net does not match your check, or a month is missing, that is the first thing to ask about.
What we know98% of the gas L & M Operating, Inc. reported was flared or vented. Flared gas pays no royalty, so a lease that flares heavily will show a smaller gas volume on your stub than on the state's production line.
At a glance
L & M Operating, Inc.
- RRC operator number (P-5)
- 480113
- Producing leases
- 19
- Counties
- 2
- Biggest county
- Reagan County
- Oil, last 12 months
- 29,716 bbl
- Gas sent to plants
- 0.0%
- Gas sold to pipelines
- 0.0%
- Gas flared or vented
- 98%
Owner relations
Who to call at L & M Operating, Inc.
We have not yet added L & M Operating, Inc.’s owner relations phone, mailing address or online portal. It is usually printed at the top or bottom of your statement. The Railroad Commission also holds an address for the operator under number 480113.
When there is something to ask
FAQ
Questions about L & M Operating, Inc.
How many leases does L & M Operating, Inc. operate in Texas?
The Railroad Commission lists 19 producing leases for L & M Operating, Inc. (operator number 480113) across 2 Texas counties, mostly in Reagan County. It reported 29,716 barrels of oil and 31,127 mcf of gas in the 12 months through Jul 2026.
How do I know L & M Operating, Inc. is the company that pays my royalty?
Look at the name on your royalty check or stub. The operator named by the state on a lease is not always the company that sends the check; a purchaser or a payor can pay on the operator's behalf. Look up the lease on this site to see the operator the Railroad Commission shows today and any change of operator.
Where can I see how L & M Operating, Inc. compares with other operators?
The report card for L & M Operating, Inc. sets out what public records show: the price its oil realized, leases that changed operator, the companies that buy its oil and gas, and permits. It uses public data and anonymised totals from at least five owners, never one owner's statement.
Where do these figures come from?
From the Railroad Commission of Texas production data, summed over every lease reported under operator number 480113. The newest month is Jul 2026; the state publishes two to three months late.
Keep going
More about L & M Operating, Inc.
- Texas dataL & M Operating, Inc. report cardRealized price, leases that changed hands, buyers and permits, from public records.
- Texas dataL & M Operating, Inc.: company recordState entity, permits, buyers and P-5 status, with sources.
- Texas dataTexas operators, A to ZEvery operator with producing leases in Railroad Commission records.
- ToolIs my operator paying a fair oil price?Your stub's oil price against what Texas buyers paid and the WTI average.
- Texas dataTexas operator changesWho took over whose leases in the last 24 months.
- CheckCheck my royalty statementUpload a stub and we compare each month with the state record.