VERA 3
VERA 3 is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Summit Petroleum LLC. It has 1 wellbore on file with the Commission. Reported production runs from June 2024 to August 2026, totalling 202,442 barrels. The lease is intermittent. 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 $3.5M, with roughly $3.1M 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 16,066 barrels a month. Its strongest month on the record we hold was July 2025, at 30,225 barrels. In our own backtest, leases producing at this rate are forecast to within about 18% 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 VERA 3
- Who operates VERA 3?
- VERA 3 is operated by Summit Petroleum LLC, Railroad Commission of Texas operator number 829221.
- Where is VERA 3?
- VERA 3 is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 22823.
- Is VERA 3 still producing?
- VERA 3 is intermittent. The most recent month of production reported to the Railroad Commission of Texas for VERA 3 is August 2026.
- How much has VERA 3 produced?
- VERA 3 has reported 202,442 barrels of oil (bbl) to the Railroad Commission of Texas between June 2024 and August 2026, from 1 wellbore.
- How much is VERA 3 worth?
- The remaining production from VERA 3 is estimated to be worth about $3.5M in total as of 26 August 2026, within a range of $2.9M to $4.1M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in VERA 3 is a fraction of it. The estimate fits an Arps decline curve to the production VERA 3 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for VERA 3 is an estimate of value, not an offer and not an appraisal.
- How much income does VERA 3 generate in a year?
- VERA 3 is forecast to net about $3.1M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in VERA 3 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Summit Petroleum LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 22823 |
| Wellbores | 1 |
| Reported production | 202,442 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $3.5M |
Where VERA 3 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.