GIG'EM 343
GIG'EM 343 is a Texas oil lease in Yoakum County, Railroad Commission district 8A, operated by Ring Energy, Inc. It has 1 wellbore on file with the Commission. Reported production runs from June 2020 to August 2026, totalling 24,417 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 $1.1M, with roughly $253K 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 433 barrels a month. Its strongest month on the record we hold was December 2020, at 772 barrels. In our own backtest, leases producing at this rate are forecast to within about 22% 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 GIG'EM 343
- Who operates GIG'EM 343?
- GIG'EM 343 is operated by Ring Energy, Inc., Railroad Commission of Texas operator number 712382.
- Where is GIG'EM 343?
- GIG'EM 343 is a Texas oil lease in Yoakum County, Texas, in Railroad Commission district 8A. Its Railroad Commission lease number is 71022.
- Is GIG'EM 343 still producing?
- GIG'EM 343 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GIG'EM 343 is August 2026.
- How much has GIG'EM 343 produced?
- GIG'EM 343 has reported 24,417 barrels of oil (bbl) to the Railroad Commission of Texas between June 2020 and August 2026, from 1 wellbore.
- How much is GIG'EM 343 worth?
- The remaining production from GIG'EM 343 is estimated to be worth about $1.1M in total as of 26 August 2026, within a range of $880K to $1.4M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GIG'EM 343 is a fraction of it. The estimate fits an Arps decline curve to the production GIG'EM 343 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GIG'EM 343 is an estimate of value, not an offer and not an appraisal.
- How much income does GIG'EM 343 generate in a year?
- GIG'EM 343 is forecast to net about $253K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in GIG'EM 343 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Ring Energy, Inc. |
|---|---|
| Field | Platang (San Andres) |
| County | Yoakum County, Texas |
| RRC district | 8A |
| Lease number | 71022 |
| Wellbores | 1 |
| Reported production | 24,417 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.1M |
Where GIG'EM 343 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.