COPELAND

COPELAND is a Texas gas lease in Rusk County, Railroad Commission district 06, operated by Peoples Energy Prod.-TX, L.P. It has 1 wellbore on file with the Commission. Reported production runs from July 2006 to August 2026, totalling 505,803 thousand cubic feet. The lease is intermittent. Fitting a decline curve to that history and pricing the remaining production at today's forward curve values a standard royalty share at about $35, with roughly $4 expected over the next twelve months. Over the last twelve months on file it averaged 8 thousand cubic feet a month. Its strongest month on the record we hold was April 2018, at 639 thousand cubic feet. In our own backtest, leases producing at this rate are forecast to within about 100% 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.

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.