MUSTANG
MUSTANG is a Texas oil lease in Archer County, Railroad Commission district 09, operated by Eagle Oil & Gas Co. It has 1 wellbore on file with the Commission. Reported production runs from March 2026 to August 2026, totalling 2,994 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 $2.1M, with roughly $411K 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 541 barrels a month. Its strongest month on the record we hold was April 2026, at 1,081 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 MUSTANG
- Who operates MUSTANG?
- MUSTANG is operated by Eagle Oil & Gas Co., Railroad Commission of Texas operator number 238634.
- Where is MUSTANG?
- MUSTANG is a Texas oil lease in Archer County, Texas, in Railroad Commission district 09. Its Railroad Commission lease number is 34464.
- Is MUSTANG still producing?
- MUSTANG is intermittent. The most recent month of production reported to the Railroad Commission of Texas for MUSTANG is August 2026.
- How much has MUSTANG produced?
- MUSTANG has reported 2,994 barrels of oil (bbl) to the Railroad Commission of Texas between March 2026 and August 2026, from 1 wellbore.
- How much is MUSTANG worth?
- The remaining production from MUSTANG is estimated to be worth about $2.1M in total as of 26 August 2026, within a range of $1.7M to $2.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MUSTANG is a fraction of it. The estimate fits an Arps decline curve to the production MUSTANG has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MUSTANG is an estimate of value, not an offer and not an appraisal.
- How much income does MUSTANG generate in a year?
- MUSTANG is forecast to net about $411K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MUSTANG receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Eagle Oil & Gas Co. |
|---|---|
| Field | Archer County Regular |
| County | Archer County, Texas |
| RRC district | 09 |
| Lease number | 34464 |
| Wellbores | 1 |
| Reported production | 2,994 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $2.1M |
Where MUSTANG 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.