UNDERWOOD
UNDERWOOD is a Texas oil lease in Milam County, Railroad Commission district 01, operated by 3r-B Oil Venture. It has 14 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 366,690 barrels. 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 $854K, with roughly $164K 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 248 barrels a month, about 18 per wellbore. Its strongest month on the record we hold was May 2018, at 986 barrels. 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 UNDERWOOD
- Who operates UNDERWOOD?
- UNDERWOOD is operated by 3r-B Oil Venture, Railroad Commission of Texas operator number 953641.
- Where is UNDERWOOD?
- UNDERWOOD is a Texas oil lease in Milam County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 11691.
- Is UNDERWOOD still producing?
- UNDERWOOD is currently producing. The most recent month of production reported to the Railroad Commission of Texas for UNDERWOOD is August 2026.
- How much has UNDERWOOD produced?
- UNDERWOOD has reported 366,690 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 14 wellbores.
- How much is UNDERWOOD worth?
- The remaining production from UNDERWOOD is estimated to be worth about $854K in total as of 26 August 2026, within a range of $666K to $1.0M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in UNDERWOOD is a fraction of it. The estimate fits an Arps decline curve to the production UNDERWOOD has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for UNDERWOOD is an estimate of value, not an offer and not an appraisal.
- How much income does UNDERWOOD generate in a year?
- UNDERWOOD is forecast to net about $164K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in UNDERWOOD receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | 3r-B Oil Venture |
|---|---|
| Field | W.C. Finch (Simsboro 1900) |
| County | Milam County, Texas |
| RRC district | 01 |
| Lease number | 11691 |
| Wellbores | 14 |
| Reported production | 366,690 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $854K |
Where UNDERWOOD 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.