MORGAN-NEAL 39-26
MORGAN-NEAL 39-26 is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Grenadier Energy Partners II,LLC. It has 3 wellbores on file with the Commission. Reported production runs from April 2019 to August 2026, totalling 715,492 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 $15.4M, with roughly $4.1M 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 6,862 barrels a month, about 2,287 per wellbore. Its strongest month on the record we hold was July 2019, at 49,540 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 MORGAN-NEAL 39-26
- Who operates MORGAN-NEAL 39-26?
- MORGAN-NEAL 39-26 is operated by Grenadier Energy Partners II,LLC, Railroad Commission of Texas operator number 332472.
- Where is MORGAN-NEAL 39-26?
- MORGAN-NEAL 39-26 is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 51979.
- Is MORGAN-NEAL 39-26 still producing?
- MORGAN-NEAL 39-26 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MORGAN-NEAL 39-26 is August 2026.
- How much has MORGAN-NEAL 39-26 produced?
- MORGAN-NEAL 39-26 has reported 715,492 barrels of oil (bbl) to the Railroad Commission of Texas between April 2019 and August 2026, from 3 wellbores.
- How much is MORGAN-NEAL 39-26 worth?
- The remaining production from MORGAN-NEAL 39-26 is estimated to be worth about $15.4M in total as of 26 August 2026, within a range of $12.8M to $18.0M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MORGAN-NEAL 39-26 is a fraction of it. The estimate fits an Arps decline curve to the production MORGAN-NEAL 39-26 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MORGAN-NEAL 39-26 is an estimate of value, not an offer and not an appraisal.
- How much income does MORGAN-NEAL 39-26 generate in a year?
- MORGAN-NEAL 39-26 is forecast to net about $4.1M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MORGAN-NEAL 39-26 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Grenadier Energy Partners II,LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 51979 |
| Wellbores | 3 |
| Reported production | 715,492 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $15.4M |
Where MORGAN-NEAL 39-26 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.