PENWELL UNIT
PENWELL UNIT is a Texas oil lease in Ector County, Railroad Commission district 08, operated by Texaco E & P Inc. It has 289 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 6,855,960 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 $11.6M, with roughly $2.6M 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 3,962 barrels a month, about 14 per wellbore. Its strongest month on the record we hold was July 2016, at 11,502 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 PENWELL UNIT
- Who operates PENWELL UNIT?
- PENWELL UNIT is operated by Texaco E & P Inc., Railroad Commission of Texas operator number 844118.
- Where is PENWELL UNIT?
- PENWELL UNIT is a Texas oil lease in Ector County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 23007.
- Is PENWELL UNIT still producing?
- PENWELL UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PENWELL UNIT is August 2026.
- How much has PENWELL UNIT produced?
- PENWELL UNIT has reported 6,855,960 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 289 wellbores.
- How much is PENWELL UNIT worth?
- The remaining production from PENWELL UNIT is estimated to be worth about $11.6M in total as of 26 August 2026, within a range of $9.6M to $13.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PENWELL UNIT is a fraction of it. The estimate fits an Arps decline curve to the production PENWELL UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PENWELL UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does PENWELL UNIT generate in a year?
- PENWELL UNIT is forecast to net about $2.6M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in PENWELL UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Texaco E & P Inc. |
|---|---|
| Field | Penwell |
| County | Ector County, Texas |
| RRC district | 08 |
| Lease number | 23007 |
| Wellbores | 289 |
| Reported production | 6,855,960 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $11.6M |
Where PENWELL UNIT 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.