MILLS-STRAIN UNIT
MILLS-STRAIN UNIT is a Texas oil lease in Mitchell County, Railroad Commission district 8A, operated by Grand Banks Energy Company. It has 120 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 1,451,236 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 $1.6M, with roughly $649K 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 1,210 barrels a month, about 10 per wellbore. Its strongest month on the record we hold was August 2016, at 2,394 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 MILLS-STRAIN UNIT
- Who operates MILLS-STRAIN UNIT?
- MILLS-STRAIN UNIT is operated by Grand Banks Energy Company, Railroad Commission of Texas operator number 324700.
- Where is MILLS-STRAIN UNIT?
- MILLS-STRAIN UNIT is a Texas oil lease in Mitchell County, Texas, in Railroad Commission district 8A. Its Railroad Commission lease number is 66202.
- Is MILLS-STRAIN UNIT still producing?
- MILLS-STRAIN UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MILLS-STRAIN UNIT is August 2026.
- How much has MILLS-STRAIN UNIT produced?
- MILLS-STRAIN UNIT has reported 1,451,236 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 120 wellbores.
- How much is MILLS-STRAIN UNIT worth?
- The remaining production from MILLS-STRAIN UNIT is estimated to be worth about $1.6M in total as of 27 August 2026, within a range of $1.3M to $1.8M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MILLS-STRAIN UNIT is a fraction of it. The estimate fits an Arps decline curve to the production MILLS-STRAIN UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MILLS-STRAIN UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does MILLS-STRAIN UNIT generate in a year?
- MILLS-STRAIN UNIT is forecast to net about $649K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in MILLS-STRAIN UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Grand Banks Energy Company |
|---|---|
| Field | Sharon Ridge (1700) |
| County | Mitchell County, Texas |
| RRC district | 8A |
| Lease number | 66202 |
| Wellbores | 120 |
| Reported production | 1,451,236 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.6M |
Where MILLS-STRAIN 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.