BENDER STATE
BENDER STATE is a Texas oil lease in Crane County, Railroad Commission district 7C, operated by SM Energy Company. It has 1 wellbore on file with the Commission. Reported production runs from December 2025 to August 2026, totalling 35,867 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 $16.7M, 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 3,971 barrels a month. Its strongest month on the record we hold was April 2026, at 15,327 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.
Key facts about BENDER STATE
- Who operates BENDER STATE?
- BENDER STATE is operated by SM Energy Company, Railroad Commission of Texas operator number 788997.
- Where is BENDER STATE?
- BENDER STATE is a Texas oil lease in Crane County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 23468.
- Is BENDER STATE still producing?
- BENDER STATE is intermittent. The most recent month of production reported to the Railroad Commission of Texas for BENDER STATE is August 2026.
- How much has BENDER STATE produced?
- BENDER STATE has reported 35,867 barrels of oil (bbl) to the Railroad Commission of Texas between December 2025 and August 2026, from 1 wellbore.
- How much is BENDER STATE worth?
- The remaining production from BENDER STATE is estimated to be worth about $16.7M in total as of 26 August 2026, within a range of $13.9M to $19.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BENDER STATE is a fraction of it. The estimate fits an Arps decline curve to the production BENDER STATE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BENDER STATE is an estimate of value, not an offer and not an appraisal.
- How much income does BENDER STATE generate in a year?
- BENDER STATE 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 BENDER STATE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | SM Energy Company |
|---|---|
| Field | Pegasus (Consolidated) |
| County | Crane County, Texas |
| RRC district | 7C |
| Lease number | 23468 |
| Wellbores | 1 |
| Reported production | 35,867 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $16.7M |
Where BENDER STATE 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.