TOP GUN
TOP GUN is a Texas oil lease in Howard County, Railroad Commission district 08, operated by SM Energy Company. It has 11 wellbores on file with the Commission. Reported production runs from January 2017 to August 2026, totalling 3,906,330 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 $16.6M, with roughly $4.7M 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 6,196 barrels a month, about 563 per wellbore. Its strongest month on the record we hold was June 2019, at 264,886 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 TOP GUN
- Who operates TOP GUN?
- TOP GUN is operated by SM Energy Company, Railroad Commission of Texas operator number 788997.
- Where is TOP GUN?
- TOP GUN is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 48539.
- Is TOP GUN still producing?
- TOP GUN is currently producing. The most recent month of production reported to the Railroad Commission of Texas for TOP GUN is August 2026.
- How much has TOP GUN produced?
- TOP GUN has reported 3,906,330 barrels of oil (bbl) to the Railroad Commission of Texas between January 2017 and August 2026, from 11 wellbores.
- How much is TOP GUN worth?
- The remaining production from TOP GUN is estimated to be worth about $16.6M in total as of 27 August 2026, within a range of $13.8M to $19.5M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in TOP GUN is a fraction of it. The estimate fits an Arps decline curve to the production TOP GUN has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for TOP GUN is an estimate of value, not an offer and not an appraisal.
- How much income does TOP GUN generate in a year?
- TOP GUN is forecast to net about $4.7M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in TOP GUN receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | SM Energy Company |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 48539 |
| Wellbores | 11 |
| Reported production | 3,906,330 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $16.6M |
Where TOP GUN 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.