WARD, J. M., ESTATE
WARD, J. M., ESTATE is a Texas gas lease in Stephens County, Railroad Commission district 7B, operated by Lobo Resources, Inc. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 39,021 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 $40K, with roughly $6K 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 271 thousand cubic feet a month. Its strongest month on the record we hold was July 2024, at 280 thousand cubic feet. In our own backtest, leases producing at this rate are forecast to within about 22% 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 WARD, J. M., ESTATE
- Who operates WARD, J. M., ESTATE?
- WARD, J. M., ESTATE is operated by Lobo Resources, Inc., Railroad Commission of Texas operator number 504659.
- Where is WARD, J. M., ESTATE?
- WARD, J. M., ESTATE is a Texas gas lease in Stephens County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 018344.
- Is WARD, J. M., ESTATE still producing?
- WARD, J. M., ESTATE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for WARD, J. M., ESTATE is August 2026.
- How much has WARD, J. M., ESTATE produced?
- WARD, J. M., ESTATE has reported 39,021 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is WARD, J. M., ESTATE worth?
- The remaining production from WARD, J. M., ESTATE is estimated to be worth about $40K in total as of 26 August 2026, within a range of $31K to $49K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in WARD, J. M., ESTATE is a fraction of it. The estimate fits an Arps decline curve to the production WARD, J. M., ESTATE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for WARD, J. M., ESTATE is an estimate of value, not an offer and not an appraisal.
- How much income does WARD, J. M., ESTATE generate in a year?
- WARD, J. M., ESTATE is forecast to net about $6K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in WARD, J. M., ESTATE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Lobo Resources, Inc. |
|---|---|
| Field | Caddo North (Congl.) |
| County | Stephens County, Texas |
| RRC district | 7B |
| Lease number | 018344 |
| Wellbores | 1 |
| Reported production | 39,021 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $40K |
Where WARD, J. M., ESTATE 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.