CHOATE 01
CHOATE 01 is a Texas gas lease in Karnes County, Railroad Commission district 02, operated by Pioneer Natural Res. USA, Inc. It has 1 wellbore on file with the Commission. Reported production runs from April 2015 to August 2026, totalling 652,551 thousand cubic feet. The lease is currently producing. Fitting a decline curve to that history and pricing the remaining production at today's forward curve values the whole lease — a 100% undivided interest — at about $1.3M, with roughly $272K expected over the next twelve months. An individual royalty owner receives their own decimal interest times that figure. Over the last twelve months on file it averaged 2,102 thousand cubic feet a month. Its strongest month on the record we hold was May 2016, at 17,475 thousand cubic feet. In our own backtest, leases producing at this rate are forecast to within about 17% of what they went on to produce, and that measured error is the range shown on the page rather than a confidence of our own devising.
Key facts about CHOATE 01
- Who operates CHOATE 01?
- CHOATE 01 is operated by Pioneer Natural Res. USA, Inc., Railroad Commission of Texas operator number 665748.
- Where is CHOATE 01?
- CHOATE 01 is a Texas gas lease in Karnes County, Texas, in Railroad Commission district 02. Its Railroad Commission lease number is 278592.
- Is CHOATE 01 still producing?
- CHOATE 01 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CHOATE 01 is August 2026.
- How much has CHOATE 01 produced?
- CHOATE 01 has reported 652,551 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between April 2015 and August 2026, from 1 wellbore.
- How much is CHOATE 01 worth?
- The remaining production from CHOATE 01 is estimated to be worth about $1.3M in total as of 26 August 2026, within a range of $1.1M to $1.5M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CHOATE 01 is a fraction of it. The estimate fits an Arps decline curve to the production CHOATE 01 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CHOATE 01 is an estimate of value, not an offer and not an appraisal.
- How much income does CHOATE 01 generate in a year?
- CHOATE 01 is forecast to net about $272K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in CHOATE 01 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Pioneer Natural Res. USA, Inc. |
|---|---|
| Field | Sugarkane (Eagle Ford) |
| County | Karnes County, Texas |
| RRC district | 02 |
| Lease number | 278592 |
| Wellbores | 1 |
| Reported production | 652,551 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.3M |
Where CHOATE 01 sits
Source: Railroad Commission of Texas lease production records, complete through . Figures on this page were computed on .
Production figures are as reported to the Railroad Commission of Texas. The value shown is an estimate produced by fitting a decline curve to that reported history; it is not an offer or an appraisal. How this estimate is calculated.