MERCHANT
RRC oil lease 18787, district 09 · SPRABERRY (TREND AREA) R 40 EXC field · Reagan County · operated by OXY USA WTP LP
MERCHANT at a glance
Gas output in Mar 2026–May 2026 was down 45% from the same three months a year earlier. Over the last 12 months it reported 102,965 BBL of oil and 2,340,547 MCF of gas. In May 2026, the latest month not marked provisional, it reported 10,061 BBL and 252,067 MCF.
Royalty = (10,061 BBL × $97.31 WTI, Sep 2026, EIA + 252,067 MCF × $2.95 Henry Hub, Sep 2026, EIA) × your decimal. 0.001 is only a placeholder: enter the decimal from your check stub or division order. Gross, before taxes and deductions. Full estimator →
Oil + condensate (BBL per month, last 36 months)
Gas (MCF per month, last 36 months)
Jun 2026 and Jul 2026 are provisional (lighter bars) and usually rise as late reports arrive.
MERCHANT production history in brief
By oil-equivalent volume over the last 12 months, MERCHANT ranks #24 of 3,010 reporting leases in Reagan County. It reported production in 34 of the 34 non-provisional months shown, starting in our window in Aug 2023. Its peak gas month in that window was Dec 2023 at 452,651 MCF. The lease is in the SPRABERRY (TREND AREA) R 40 EXC field and is operated by OXY USA WTP LP; production is reported for the lease as a whole, not per well.
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New permits nearby
New drilling permits issued this month in Reagan County. RRC production data has no lease coordinates, so we match by county.
| Issued | Operator | Lease | Well | Depth (ft) |
|---|---|---|---|---|
| 2026-10-09 | PIONEER NATURAL RES. USA, INC. | RINGO-SLAUGHTER 7H | 8H | 10,436 |
| 2026-10-09 | PIONEER NATURAL RES. USA, INC. | RINGO-SLAUGHTER 7I | 9H | 10,451 |
| 2026-10-07 | PIONEER NATURAL RES. USA, INC. | RINGO-BIRD 7G | 7H | 10,469 |
| 2026-10-05 | PIONEER NATURAL RES. USA, INC. | RINGO-BIRD 7J | 10H | 10,469 |
Monthly production
| Month | Oil (BBL) | Gas (MCF) |
|---|---|---|
| Jul 2026 (provisional) | 8,845 | 205,277 |
| Jun 2026 (provisional) | 8,540 | 245,423 |
| May 2026 | 10,061 | 252,067 |
| Apr 2026 | 9,136 | 162,809 |
| Mar 2026 | 7,694 | 105,421 |
| Feb 2026 | 6,707 | 125,467 |
| Jan 2026 | 8,672 | 147,866 |
| Dec 2025 | 8,830 | 198,747 |
| Nov 2025 | 7,906 | 186,042 |
| Oct 2025 | 7,802 | 205,959 |
| Sep 2025 | 8,044 | 210,187 |
| Aug 2025 | 10,728 | 295,282 |
| Jul 2025 | 9,768 | 301,419 |
| Jun 2025 | 10,183 | 297,497 |
| May 2025 | 11,203 | 310,583 |
| Apr 2025 | 11,117 | 314,986 |
| Mar 2025 | 14,067 | 314,766 |
| Feb 2025 | 11,083 | 290,860 |
| Jan 2025 | 13,676 | 356,572 |
| Dec 2024 | 11,120 | 353,972 |
| Nov 2024 | 10,699 | 344,259 |
| Oct 2024 | 12,108 | 376,956 |
| Sep 2024 | 13,051 | 370,132 |
| Aug 2024 | 12,303 | 402,667 |
| Jul 2024 | 13,573 | 0 |
| Jun 2024 | 12,492 | 361,077 |
| May 2024 | 15,708 | 394,924 |
| Apr 2024 | 15,669 | 398,348 |
| Mar 2024 | 16,891 | 430,850 |
| Feb 2024 | 17,942 | 408,383 |
| Jan 2024 | 20,316 | 420,327 |
| Dec 2023 | 26,351 | 452,651 |
| Nov 2023 | 31,511 | 409,013 |
| Oct 2023 | 14,672 | 376,144 |
| Sep 2023 | 7,595 | 294,920 |
| Aug 2023 | 9,168 | 346,346 |
Check these figures in the RRC Production Data Query (Specific Lease Query: district 09, lease 18787). Production is reported per lease, so a lease with several wells is not split by well.
Source: Texas Railroad Commission (data sets, Production Data Query). Data date: RRC Production Data Query dump, extract dated Sep 18, 2026; production through Jul 2026. Jun 2026 and Jul 2026 are provisional: operators file late and amend, so these months usually rise in later releases. Oil = crude oil + condensate (BBL); gas = gas-well gas + casinghead gas (MCF), as reported to RRC. Methodology.