CARNES 303
CARNES 303 is a Texas oil lease in Frio County, Railroad Commission district 01, operated by Venado Operating Company LLC. It has 1 wellbore on file with the Commission. Reported production runs from May 2019 to August 2026, totalling 238,791 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 $908K, with roughly $583K 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 735 barrels a month. Its strongest month on the record we hold was August 2019, at 12,823 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 CARNES 303
- Who operates CARNES 303?
- CARNES 303 is operated by Venado Operating Company LLC, Railroad Commission of Texas operator number 884496.
- Where is CARNES 303?
- CARNES 303 is a Texas oil lease in Frio County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 19898.
- Is CARNES 303 still producing?
- CARNES 303 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CARNES 303 is August 2026.
- How much has CARNES 303 produced?
- CARNES 303 has reported 238,791 barrels of oil (bbl) to the Railroad Commission of Texas between May 2019 and August 2026, from 1 wellbore.
- How much is CARNES 303 worth?
- The remaining production from CARNES 303 is estimated to be worth about $908K in total as of 26 August 2026, within a range of $709K to $1.1M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CARNES 303 is a fraction of it. The estimate fits an Arps decline curve to the production CARNES 303 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CARNES 303 is an estimate of value, not an offer and not an appraisal.
- How much income does CARNES 303 generate in a year?
- CARNES 303 is forecast to net about $583K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in CARNES 303 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Venado Operating Company LLC |
|---|---|
| Field | Briscoe Ranch (Eagleford) |
| County | Frio County, Texas |
| RRC district | 01 |
| Lease number | 19898 |
| Wellbores | 1 |
| Reported production | 238,791 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $908K |
Where CARNES 303 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.