GRAY ESTATE
GRAY ESTATE is a Texas gas lease in Hansford County, Railroad Commission district 10, operated by Cross Timbers Operating Company. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 684,952 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 $213K, with roughly $32K 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 1,290 thousand cubic feet a month. Its strongest month on the record we hold was September 2025, at 2,231 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 GRAY ESTATE
- Who operates GRAY ESTATE?
- GRAY ESTATE is operated by Cross Timbers Operating Company, Railroad Commission of Texas operator number 190468.
- Where is GRAY ESTATE?
- GRAY ESTATE is a Texas gas lease in Hansford County, Texas, in Railroad Commission district 10. Its Railroad Commission lease number is 022225.
- Is GRAY ESTATE still producing?
- GRAY ESTATE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GRAY ESTATE is August 2026.
- How much has GRAY ESTATE produced?
- GRAY ESTATE has reported 684,952 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is GRAY ESTATE worth?
- The remaining production from GRAY ESTATE is estimated to be worth about $213K in total as of 27 August 2026, within a range of $177K to $249K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GRAY ESTATE is a fraction of it. The estimate fits an Arps decline curve to the production GRAY ESTATE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GRAY ESTATE is an estimate of value, not an offer and not an appraisal.
- How much income does GRAY ESTATE generate in a year?
- GRAY ESTATE is forecast to net about $32K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in GRAY ESTATE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Cross Timbers Operating Company |
|---|---|
| Field | Horizon (Cleveland) |
| County | Hansford County, Texas |
| RRC district | 10 |
| Lease number | 022225 |
| Wellbores | 1 |
| Reported production | 684,952 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $213K |
Where GRAY 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.