ARGO STATE
ARGO STATE is a Texas oil lease in Andrews County, Railroad Commission district 08, operated by Union Oil Company Of California. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 74,191 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 $340K, with roughly $64K 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 79 barrels a month. Its strongest month on the record we hold was January 2022, at 402 barrels. In our own backtest, leases producing at this rate are forecast to within about 45% 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 ARGO STATE
- Who operates ARGO STATE?
- ARGO STATE is operated by Union Oil Company Of California, Railroad Commission of Texas operator number 876520.
- Where is ARGO STATE?
- ARGO STATE is a Texas oil lease in Andrews County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 31396.
- Is ARGO STATE still producing?
- ARGO STATE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for ARGO STATE is August 2026.
- How much has ARGO STATE produced?
- ARGO STATE has reported 74,191 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is ARGO STATE worth?
- The remaining production from ARGO STATE is estimated to be worth about $340K in total as of 26 August 2026, within a range of $187K to $493K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in ARGO STATE is a fraction of it. The estimate fits an Arps decline curve to the production ARGO STATE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for ARGO STATE is an estimate of value, not an offer and not an appraisal.
- How much income does ARGO STATE generate in a year?
- ARGO STATE is forecast to net about $64K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in ARGO STATE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Union Oil Company Of California |
|---|---|
| Field | Deep Rock (Penn.) |
| County | Andrews County, Texas |
| RRC district | 08 |
| Lease number | 31396 |
| Wellbores | 1 |
| Reported production | 74,191 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $340K |
Where ARGO STATE 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.