NEVELS-ADDAX

NEVELS-ADDAX is a Texas oil lease in Lavaca County, Railroad Commission district 02, operated by Penn Virginia Oil & Gas, L.P. It has 1 wellbore on file with the Commission. Reported production runs from February 2021 to August 2026, totalling 289,953 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 $47K, with roughly $19K expected over the next twelve months. Over the last twelve months on file it averaged 1,500 barrels a month. Its strongest month on the record we hold was March 2021, at 18,450 barrels. 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.

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.