GOLEM UNIT A 23-11

GOLEM UNIT A 23-11 is a Texas oil lease in Borden County, Railroad Commission district 08, operated by Surge Operating, LLC. It has 3 wellbores on file with the Commission. Reported production runs from August 2021 to August 2026, totalling 770,263 barrels. The lease is currently producing. Fitting a decline curve to that history and pricing the remaining production at today's forward curve values a standard royalty share at about $342K, with roughly $98K expected over the next twelve months. Over the last twelve months on file it averaged 6,460 barrels a month, about 2,153 per wellbore. Its strongest month on the record we hold was December 2021, at 36,499 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.

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.