FREE 32
FREE 32 is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Crownquest Operating, LLC. It has 7 wellbores on file with the Commission. Reported production runs from May 2011 to August 2026, totalling 435,842 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 $3.4M, with roughly $1.4M 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 1,314 barrels a month, about 188 per wellbore. Its strongest month on the record we hold was August 2021, at 5,858 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 FREE 32
- Who operates FREE 32?
- FREE 32 is operated by Crownquest Operating, LLC, Railroad Commission of Texas operator number 191554.
- Where is FREE 32?
- FREE 32 is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 41478.
- Is FREE 32 still producing?
- FREE 32 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for FREE 32 is August 2026.
- How much has FREE 32 produced?
- FREE 32 has reported 435,842 barrels of oil (bbl) to the Railroad Commission of Texas between May 2011 and August 2026, from 7 wellbores.
- How much is FREE 32 worth?
- The remaining production from FREE 32 is estimated to be worth about $3.4M in total as of 27 August 2026, within a range of $2.8M to $4.0M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in FREE 32 is a fraction of it. The estimate fits an Arps decline curve to the production FREE 32 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for FREE 32 is an estimate of value, not an offer and not an appraisal.
- How much income does FREE 32 generate in a year?
- FREE 32 is forecast to net about $1.4M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in FREE 32 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Crownquest Operating, LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 41478 |
| Wellbores | 7 |
| Reported production | 435,842 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $3.4M |
Where FREE 32 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.