BIG RED UNIT 75-82
BIG RED UNIT 75-82 is a Texas oil lease in Martin County, Railroad Commission district 08, operated by Element Petroleum Op III, LLC. It has 2 wellbores on file with the Commission. Reported production runs from March 2018 to August 2026, totalling 256,499 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 $917K, with roughly $647K 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 835 barrels a month, about 417 per wellbore. Its strongest month on the record we hold was May 2018, at 20,190 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 BIG RED UNIT 75-82
- Who operates BIG RED UNIT 75-82?
- BIG RED UNIT 75-82 is operated by Element Petroleum Op III, LLC, Railroad Commission of Texas operator number 247675.
- Where is BIG RED UNIT 75-82?
- BIG RED UNIT 75-82 is a Texas oil lease in Martin County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 50315.
- Is BIG RED UNIT 75-82 still producing?
- BIG RED UNIT 75-82 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BIG RED UNIT 75-82 is August 2026.
- How much has BIG RED UNIT 75-82 produced?
- BIG RED UNIT 75-82 has reported 256,499 barrels of oil (bbl) to the Railroad Commission of Texas between March 2018 and August 2026, from 2 wellbores.
- How much is BIG RED UNIT 75-82 worth?
- The remaining production from BIG RED UNIT 75-82 is estimated to be worth about $917K in total as of 27 August 2026, within a range of $715K to $1.1M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BIG RED UNIT 75-82 is a fraction of it. The estimate fits an Arps decline curve to the production BIG RED UNIT 75-82 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BIG RED UNIT 75-82 is an estimate of value, not an offer and not an appraisal.
- How much income does BIG RED UNIT 75-82 generate in a year?
- BIG RED UNIT 75-82 is forecast to net about $647K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in BIG RED UNIT 75-82 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Element Petroleum Op III, LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Martin County, Texas |
| RRC district | 08 |
| Lease number | 50315 |
| Wellbores | 2 |
| Reported production | 256,499 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $917K |
Where BIG RED UNIT 75-82 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.