GRAY
GRAY is a Texas oil lease in Borden County, Railroad Commission district 08, operated by Trilogy Operating, Inc. It has 1 wellbore on file with the Commission. Reported production runs from February 2012 to August 2026, totalling 57,442 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 $936K, with roughly $178K 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 243 barrels a month. Its strongest month on the record we hold was September 2024, at 1,024 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 GRAY
- Who operates GRAY?
- GRAY is operated by Trilogy Operating, Inc., Railroad Commission of Texas operator number 869713.
- Where is GRAY?
- GRAY is a Texas oil lease in Borden County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 42896.
- Is GRAY still producing?
- GRAY is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GRAY is August 2026.
- How much has GRAY produced?
- GRAY has reported 57,442 barrels of oil (bbl) to the Railroad Commission of Texas between February 2012 and August 2026, from 1 wellbore.
- How much is GRAY worth?
- The remaining production from GRAY is estimated to be worth about $936K in total as of 26 August 2026, within a range of $730K to $1.1M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GRAY is a fraction of it. The estimate fits an Arps decline curve to the production GRAY has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GRAY is an estimate of value, not an offer and not an appraisal.
- How much income does GRAY generate in a year?
- GRAY is forecast to net about $178K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in GRAY receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Trilogy Operating, Inc. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Borden County, Texas |
| RRC district | 08 |
| Lease number | 42896 |
| Wellbores | 1 |
| Reported production | 57,442 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $936K |
Where GRAY 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.