BLACK UNIT
BLACK UNIT is a Texas gas lease in Panola County, Railroad Commission district 06, operated by Pennzoil Exploration & Prod. Co. It has 1 wellbore on file with the Commission. Reported production runs from January 1994 to August 2026, totalling 1,865,889 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 $261K, with roughly $40K 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 1,716 thousand cubic feet a month. Its strongest month on the record we hold was January 2022, at 3,551 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 BLACK UNIT
- Who operates BLACK UNIT?
- BLACK UNIT is operated by Pennzoil Exploration & Prod. Co., Railroad Commission of Texas operator number 652352.
- Where is BLACK UNIT?
- BLACK UNIT is a Texas gas lease in Panola County, Texas, in Railroad Commission district 06. Its Railroad Commission lease number is 148704.
- Is BLACK UNIT still producing?
- BLACK UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BLACK UNIT is August 2026.
- How much has BLACK UNIT produced?
- BLACK UNIT has reported 1,865,889 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between January 1994 and August 2026, from 1 wellbore.
- How much is BLACK UNIT worth?
- The remaining production from BLACK UNIT is estimated to be worth about $261K in total as of 26 August 2026, within a range of $217K to $306K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BLACK UNIT is a fraction of it. The estimate fits an Arps decline curve to the production BLACK UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BLACK UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does BLACK UNIT generate in a year?
- BLACK UNIT is forecast to net about $40K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BLACK UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Pennzoil Exploration & Prod. Co. |
|---|---|
| Field | Carthage (Cotton Valley) |
| County | Panola County, Texas |
| RRC district | 06 |
| Lease number | 148704 |
| Wellbores | 1 |
| Reported production | 1,865,889 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $261K |
Where BLACK UNIT 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.