PAYNE
PAYNE is a Texas oil lease in Henderson County, Railroad Commission district 05, operated by Ellis Exploration, Inc. It has 1 wellbore on file with the Commission. Reported production runs from October 1999 to August 2026, totalling 66,569 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 $890K, with roughly $149K 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 144 barrels a month. Its strongest month on the record we hold was May 2016, at 289 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 PAYNE
- Who operates PAYNE?
- PAYNE is operated by Ellis Exploration, Inc., Railroad Commission of Texas operator number 248895.
- Where is PAYNE?
- PAYNE is a Texas oil lease in Henderson County, Texas, in Railroad Commission district 05. Its Railroad Commission lease number is 03674.
- Is PAYNE still producing?
- PAYNE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PAYNE is August 2026.
- How much has PAYNE produced?
- PAYNE has reported 66,569 barrels of oil (bbl) to the Railroad Commission of Texas between October 1999 and August 2026, from 1 wellbore.
- How much is PAYNE worth?
- The remaining production from PAYNE is estimated to be worth about $890K in total as of 26 August 2026, within a range of $694K to $1.1M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PAYNE is a fraction of it. The estimate fits an Arps decline curve to the production PAYNE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PAYNE is an estimate of value, not an offer and not an appraisal.
- How much income does PAYNE generate in a year?
- PAYNE is forecast to net about $149K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in PAYNE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Ellis Exploration, Inc. |
|---|---|
| Field | Opelika |
| County | Henderson County, Texas |
| RRC district | 05 |
| Lease number | 03674 |
| Wellbores | 1 |
| Reported production | 66,569 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $890K |
Where PAYNE 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.