LIBERTY

LIBERTY is a Texas oil lease in Madison County, Railroad Commission district 05, operated by Wildfire Energy Operating LLC. It has 1 wellbore on file with the Commission. Reported production runs from November 2022 to August 2026, totalling 186,446 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 $123K, with roughly $35K expected over the next twelve months. Over the last twelve months on file it averaged 2,401 barrels a month. Its strongest month on the record we hold was January 2023, at 18,782 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.