MARTIN, VELMA
MARTIN, VELMA is a Texas oil lease in Brown County, Railroad Commission district 7B, operated by Pitts, Charles Company. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 1,755 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 $5K, with roughly $879 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 1 barrels a month. Its strongest month on the record we hold was June 2022, at 16 barrels. In our own backtest, leases producing at this rate are forecast to within about 100% 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 MARTIN, VELMA
- Who operates MARTIN, VELMA?
- MARTIN, VELMA is operated by Pitts, Charles Company, Railroad Commission of Texas operator number 666425.
- Where is MARTIN, VELMA?
- MARTIN, VELMA is a Texas oil lease in Brown County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 23772.
- Is MARTIN, VELMA still producing?
- MARTIN, VELMA is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MARTIN, VELMA is August 2026.
- How much has MARTIN, VELMA produced?
- MARTIN, VELMA has reported 1,755 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is MARTIN, VELMA worth?
- The remaining production from MARTIN, VELMA is estimated to be worth about $5K in total as of 27 August 2026, within a range of $0 to $9K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MARTIN, VELMA is a fraction of it. The estimate fits an Arps decline curve to the production MARTIN, VELMA has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MARTIN, VELMA is an estimate of value, not an offer and not an appraisal.
- How much income does MARTIN, VELMA generate in a year?
- MARTIN, VELMA is forecast to net about $879 across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in MARTIN, VELMA receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Pitts, Charles Company |
|---|---|
| Field | Pi Ma (Breneke Sand) |
| County | Brown County, Texas |
| RRC district | 7B |
| Lease number | 23772 |
| Wellbores | 1 |
| Reported production | 1,755 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $5K |
Where MARTIN, VELMA 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.