NICHOLS 15
NICHOLS 15 is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Cobra Oil & Gas Corporation. It has 3 wellbores on file with the Commission. Reported production runs from August 2008 to August 2026, totalling 242,805 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 $775K, with roughly $194K 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 330 barrels a month, about 110 per wellbore. Its strongest month on the record we hold was October 2023, at 2,827 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 NICHOLS 15
- Who operates NICHOLS 15?
- NICHOLS 15 is operated by Cobra Oil & Gas Corporation, Railroad Commission of Texas operator number 163000.
- Where is NICHOLS 15?
- NICHOLS 15 is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 39068.
- Is NICHOLS 15 still producing?
- NICHOLS 15 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for NICHOLS 15 is August 2026.
- How much has NICHOLS 15 produced?
- NICHOLS 15 has reported 242,805 barrels of oil (bbl) to the Railroad Commission of Texas between August 2008 and August 2026, from 3 wellbores.
- How much is NICHOLS 15 worth?
- The remaining production from NICHOLS 15 is estimated to be worth about $775K in total as of 27 August 2026, within a range of $604K to $945K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in NICHOLS 15 is a fraction of it. The estimate fits an Arps decline curve to the production NICHOLS 15 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for NICHOLS 15 is an estimate of value, not an offer and not an appraisal.
- How much income does NICHOLS 15 generate in a year?
- NICHOLS 15 is forecast to net about $194K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in NICHOLS 15 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Cobra Oil & Gas Corporation |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 39068 |
| Wellbores | 3 |
| Reported production | 242,805 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $775K |
Where NICHOLS 15 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.