BENCH LAKE FARMS UNIT 1

BENCH LAKE FARMS UNIT 1 is a Texas oil lease in Karnes County, Railroad Commission district 02, operated by Riley Exploration, LLC. It has 2 wellbores on file with the Commission. Reported production runs from June 2011 to August 2026, totalling 369,974 barrels. The lease is currently producing. Fitting a decline curve to that history and pricing the remaining production at today's forward curve values a standard royalty share at about $17K, with roughly $4K expected over the next twelve months. Over the last twelve months on file it averaged 275 barrels a month, about 137 per wellbore. Its strongest month on the record we hold was September 2016, at 2,655 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.

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.