LOCKETT, OLIVER
LOCKETT, OLIVER is a Texas oil lease in Gregg County, Railroad Commission district 6E, operated by Shell Western E&P Inc. It has 5 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 283,443 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 $1.1M, with roughly $254K 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 396 barrels a month, about 79 per wellbore. Its strongest month on the record we hold was May 2016, at 682 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 LOCKETT, OLIVER
- Who operates LOCKETT, OLIVER?
- LOCKETT, OLIVER is operated by Shell Western E&P Inc., Railroad Commission of Texas operator number 774720.
- Where is LOCKETT, OLIVER?
- LOCKETT, OLIVER is a Texas oil lease in Gregg County, Texas, in Railroad Commission district 6E. Its Railroad Commission lease number is 07977.
- Is LOCKETT, OLIVER still producing?
- LOCKETT, OLIVER is currently producing. The most recent month of production reported to the Railroad Commission of Texas for LOCKETT, OLIVER is August 2026.
- How much has LOCKETT, OLIVER produced?
- LOCKETT, OLIVER has reported 283,443 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 5 wellbores.
- How much is LOCKETT, OLIVER worth?
- The remaining production from LOCKETT, OLIVER is estimated to be worth about $1.1M in total as of 26 August 2026, within a range of $883K to $1.4M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in LOCKETT, OLIVER is a fraction of it. The estimate fits an Arps decline curve to the production LOCKETT, OLIVER has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for LOCKETT, OLIVER is an estimate of value, not an offer and not an appraisal.
- How much income does LOCKETT, OLIVER generate in a year?
- LOCKETT, OLIVER is forecast to net about $254K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in LOCKETT, OLIVER receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Shell Western E&P Inc. |
|---|---|
| Field | East Texas |
| County | Gregg County, Texas |
| RRC district | 6E |
| Lease number | 07977 |
| Wellbores | 5 |
| Reported production | 283,443 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.1M |
Where LOCKETT, OLIVER 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.