JUDGE 3
JUDGE 3 is a Texas oil lease in Loving County, Railroad Commission district 08, operated by Circle-S Energy, LLC. It has 1 wellbore on file with the Commission. Reported production runs from December 2022 to August 2026, totalling 198,015 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 $1.9M, with roughly $1.1M 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 2,341 barrels a month. Its strongest month on the record we hold was February 2023, at 10,805 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 JUDGE 3
- Who operates JUDGE 3?
- JUDGE 3 is operated by Circle-S Energy, LLC, Railroad Commission of Texas operator number 100703.
- Where is JUDGE 3?
- JUDGE 3 is a Texas oil lease in Loving County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 58954.
- Is JUDGE 3 still producing?
- JUDGE 3 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for JUDGE 3 is August 2026.
- How much has JUDGE 3 produced?
- JUDGE 3 has reported 198,015 barrels of oil (bbl) to the Railroad Commission of Texas between December 2022 and August 2026, from 1 wellbore.
- How much is JUDGE 3 worth?
- The remaining production from JUDGE 3 is estimated to be worth about $1.9M in total as of 27 August 2026, within a range of $1.6M to $2.2M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in JUDGE 3 is a fraction of it. The estimate fits an Arps decline curve to the production JUDGE 3 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for JUDGE 3 is an estimate of value, not an offer and not an appraisal.
- How much income does JUDGE 3 generate in a year?
- JUDGE 3 is forecast to net about $1.1M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in JUDGE 3 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Circle-S Energy, LLC |
|---|---|
| Field | Sandbar (Bone Spring) |
| County | Loving County, Texas |
| RRC district | 08 |
| Lease number | 58954 |
| Wellbores | 1 |
| Reported production | 198,015 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.9M |
Where JUDGE 3 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.