MARTINSVILLE 120
MARTINSVILLE 120 is a Texas oil lease in Ward County, Railroad Commission district 08, operated by Devon Energy Production Co, L.P. It has 2 wellbores on file with the Commission. Reported production runs from May 2013 to August 2026, totalling 416,019 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 $1.0M, with roughly $590K 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 1,306 barrels a month, about 653 per wellbore. Its strongest month on the record we hold was May 2016, at 4,594 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 MARTINSVILLE 120
- Who operates MARTINSVILLE 120?
- MARTINSVILLE 120 is operated by Devon Energy Production Co, L.P., Railroad Commission of Texas operator number 216378.
- Where is MARTINSVILLE 120?
- MARTINSVILLE 120 is a Texas oil lease in Ward County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 44686.
- Is MARTINSVILLE 120 still producing?
- MARTINSVILLE 120 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MARTINSVILLE 120 is August 2026.
- How much has MARTINSVILLE 120 produced?
- MARTINSVILLE 120 has reported 416,019 barrels of oil (bbl) to the Railroad Commission of Texas between May 2013 and August 2026, from 2 wellbores.
- How much is MARTINSVILLE 120 worth?
- The remaining production from MARTINSVILLE 120 is estimated to be worth about $1.0M in total as of 26 August 2026, within a range of $862K to $1.2M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MARTINSVILLE 120 is a fraction of it. The estimate fits an Arps decline curve to the production MARTINSVILLE 120 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MARTINSVILLE 120 is an estimate of value, not an offer and not an appraisal.
- How much income does MARTINSVILLE 120 generate in a year?
- MARTINSVILLE 120 is forecast to net about $590K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MARTINSVILLE 120 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Devon Energy Production Co, L.P. |
|---|---|
| Field | Phantom (Wolfcamp) |
| County | Ward County, Texas |
| RRC district | 08 |
| Lease number | 44686 |
| Wellbores | 2 |
| Reported production | 416,019 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.0M |
Where MARTINSVILLE 120 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.