TEXACO-COATES A UNIT 3

TEXACO-COATES A UNIT 3 is a Texas oil lease in Reagan County, Railroad Commission district 7C, operated by Bta Oil Producers, LLC. It has 1 wellbore on file with the Commission. Reported production runs from June 2017 to August 2026, totalling 224,259 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 $16K, with roughly $3K expected over the next twelve months. Over the last twelve months on file it averaged 233 barrels a month. Its strongest month on the record we hold was June 2017, at 19,494 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.