CANON RANCH UNIT
CANON RANCH UNIT is a Texas oil lease in Borden County, Railroad Commission district 8A, operated by Pennzoil Petroleum Company. It has 163 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 4,162,403 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 $13.5M, with roughly $3.3M 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 4,471 barrels a month, about 27 per wellbore. Its strongest month on the record we hold was January 2017, at 20,185 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 CANON RANCH UNIT
- Who operates CANON RANCH UNIT?
- CANON RANCH UNIT is operated by Pennzoil Petroleum Company, Railroad Commission of Texas operator number 652365.
- Where is CANON RANCH UNIT?
- CANON RANCH UNIT is a Texas oil lease in Borden County, Texas, in Railroad Commission district 8A. Its Railroad Commission lease number is 18500.
- Is CANON RANCH UNIT still producing?
- CANON RANCH UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CANON RANCH UNIT is August 2026.
- How much has CANON RANCH UNIT produced?
- CANON RANCH UNIT has reported 4,162,403 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 163 wellbores.
- How much is CANON RANCH UNIT worth?
- The remaining production from CANON RANCH UNIT is estimated to be worth about $13.5M in total as of 27 August 2026, within a range of $11.2M to $15.7M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CANON RANCH UNIT is a fraction of it. The estimate fits an Arps decline curve to the production CANON RANCH UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CANON RANCH UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does CANON RANCH UNIT generate in a year?
- CANON RANCH UNIT is forecast to net about $3.3M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in CANON RANCH UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Pennzoil Petroleum Company |
|---|---|
| Field | Jo-Mill (Spraberry) |
| County | Borden County, Texas |
| RRC district | 8A |
| Lease number | 18500 |
| Wellbores | 163 |
| Reported production | 4,162,403 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $13.5M |
Where CANON RANCH 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.