NECHES UNIT 178-179W
NECHES UNIT 178-179W is a Texas oil lease in Reeves County, Railroad Commission district 08, operated by Primexx Operating Corporation. It has 2 wellbores on file with the Commission. Reported production runs from September 2017 to August 2026, totalling 502,322 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 $1.5M, with roughly $830K 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 1,326 barrels a month, about 663 per wellbore. Its strongest month on the record we hold was March 2019, at 23,161 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 NECHES UNIT 178-179W
- Who operates NECHES UNIT 178-179W?
- NECHES UNIT 178-179W is operated by Primexx Operating Corporation, Railroad Commission of Texas operator number 677852.
- Where is NECHES UNIT 178-179W?
- NECHES UNIT 178-179W is a Texas oil lease in Reeves County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 49736.
- Is NECHES UNIT 178-179W still producing?
- NECHES UNIT 178-179W is currently producing. The most recent month of production reported to the Railroad Commission of Texas for NECHES UNIT 178-179W is August 2026.
- How much has NECHES UNIT 178-179W produced?
- NECHES UNIT 178-179W has reported 502,322 barrels of oil (bbl) to the Railroad Commission of Texas between September 2017 and August 2026, from 2 wellbores.
- How much is NECHES UNIT 178-179W worth?
- The remaining production from NECHES UNIT 178-179W is estimated to be worth about $1.5M in total as of 27 August 2026, within a range of $1.3M to $1.8M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in NECHES UNIT 178-179W is a fraction of it. The estimate fits an Arps decline curve to the production NECHES UNIT 178-179W has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for NECHES UNIT 178-179W is an estimate of value, not an offer and not an appraisal.
- How much income does NECHES UNIT 178-179W generate in a year?
- NECHES UNIT 178-179W is forecast to net about $830K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in NECHES UNIT 178-179W receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Primexx Operating Corporation |
|---|---|
| Field | Wolfbone (Trend Area) |
| County | Reeves County, Texas |
| RRC district | 08 |
| Lease number | 49736 |
| Wellbores | 2 |
| Reported production | 502,322 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.5M |
Where NECHES UNIT 178-179W 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.