COWDEN 39-03 WEST UNIT
COWDEN 39-03 WEST UNIT is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Xto Energy Inc. It has 9 wellbores on file with the Commission. Reported production runs from October 2023 to August 2026, totalling 3,365,851 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 $94.1M, with roughly $30.2M 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 50,415 barrels a month, about 5,602 per wellbore. Its strongest month on the record we hold was December 2023, at 350,281 barrels. In our own backtest, leases producing at this rate are forecast to within about 18% 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 COWDEN 39-03 WEST UNIT
- Who operates COWDEN 39-03 WEST UNIT?
- COWDEN 39-03 WEST UNIT is operated by Xto Energy Inc., Railroad Commission of Texas operator number 945936.
- Where is COWDEN 39-03 WEST UNIT?
- COWDEN 39-03 WEST UNIT is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 61552.
- Is COWDEN 39-03 WEST UNIT still producing?
- COWDEN 39-03 WEST UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for COWDEN 39-03 WEST UNIT is August 2026.
- How much has COWDEN 39-03 WEST UNIT produced?
- COWDEN 39-03 WEST UNIT has reported 3,365,851 barrels of oil (bbl) to the Railroad Commission of Texas between October 2023 and August 2026, from 9 wellbores.
- How much is COWDEN 39-03 WEST UNIT worth?
- The remaining production from COWDEN 39-03 WEST UNIT is estimated to be worth about $94.1M in total as of 26 August 2026, within a range of $77.2M to $111.0M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in COWDEN 39-03 WEST UNIT is a fraction of it. The estimate fits an Arps decline curve to the production COWDEN 39-03 WEST UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for COWDEN 39-03 WEST UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does COWDEN 39-03 WEST UNIT generate in a year?
- COWDEN 39-03 WEST UNIT is forecast to net about $30.2M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in COWDEN 39-03 WEST UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Xto Energy Inc. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Midland County, Texas |
| RRC district | 08 |
| Lease number | 61552 |
| Wellbores | 9 |
| Reported production | 3,365,851 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $94.1M |
Where COWDEN 39-03 WEST UNIT 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.