DROGON U1-MERAXES 38B
DROGON U1-MERAXES 38B is a Texas oil lease in Martin County, Railroad Commission district 08, operated by Xto Energy Inc. It has 1 wellbore on file with the Commission. Reported production runs from September 2025 to August 2026, totalling 39,191 barrels. The lease is intermittent. 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 $11.9M, with roughly $2.3M 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 2,181 barrels a month. Its strongest month on the record we hold was April 2026, at 16,951 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 DROGON U1-MERAXES 38B
- Who operates DROGON U1-MERAXES 38B?
- DROGON U1-MERAXES 38B is operated by Xto Energy Inc., Railroad Commission of Texas operator number 945936.
- Where is DROGON U1-MERAXES 38B?
- DROGON U1-MERAXES 38B is a Texas oil lease in Martin County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 64621.
- Is DROGON U1-MERAXES 38B still producing?
- DROGON U1-MERAXES 38B is intermittent. The most recent month of production reported to the Railroad Commission of Texas for DROGON U1-MERAXES 38B is August 2026.
- How much has DROGON U1-MERAXES 38B produced?
- DROGON U1-MERAXES 38B has reported 39,191 barrels of oil (bbl) to the Railroad Commission of Texas between September 2025 and August 2026, from 1 wellbore.
- How much is DROGON U1-MERAXES 38B worth?
- The remaining production from DROGON U1-MERAXES 38B is estimated to be worth about $11.9M in total as of 27 August 2026, within a range of $9.9M to $13.9M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in DROGON U1-MERAXES 38B is a fraction of it. The estimate fits an Arps decline curve to the production DROGON U1-MERAXES 38B has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for DROGON U1-MERAXES 38B is an estimate of value, not an offer and not an appraisal.
- How much income does DROGON U1-MERAXES 38B generate in a year?
- DROGON U1-MERAXES 38B is forecast to net about $2.3M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in DROGON U1-MERAXES 38B 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 | Martin County, Texas |
| RRC district | 08 |
| Lease number | 64621 |
| Wellbores | 1 |
| Reported production | 39,191 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $11.9M |
Where DROGON U1-MERAXES 38B 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.