GRAY 2 OIL UNIT
GRAY 2 OIL UNIT is a Texas oil lease in Cherokee County, Railroad Commission district 06, operated by Valence Operating Company. It has 1 wellbore on file with the Commission. Reported production runs from September 2012 to August 2026, totalling 9,482 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 $107K, with roughly $19K 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 29 barrels a month. Its strongest month on the record we hold was November 2024, at 152 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 GRAY 2 OIL UNIT
- Who operates GRAY 2 OIL UNIT?
- GRAY 2 OIL UNIT is operated by Valence Operating Company, Railroad Commission of Texas operator number 881167.
- Where is GRAY 2 OIL UNIT?
- GRAY 2 OIL UNIT is a Texas oil lease in Cherokee County, Texas, in Railroad Commission district 06. Its Railroad Commission lease number is 15220.
- Is GRAY 2 OIL UNIT still producing?
- GRAY 2 OIL UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GRAY 2 OIL UNIT is August 2026.
- How much has GRAY 2 OIL UNIT produced?
- GRAY 2 OIL UNIT has reported 9,482 barrels of oil (bbl) to the Railroad Commission of Texas between September 2012 and August 2026, from 1 wellbore.
- How much is GRAY 2 OIL UNIT worth?
- The remaining production from GRAY 2 OIL UNIT is estimated to be worth about $107K in total as of 26 August 2026, within a range of $59K to $155K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GRAY 2 OIL UNIT is a fraction of it. The estimate fits an Arps decline curve to the production GRAY 2 OIL UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GRAY 2 OIL UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does GRAY 2 OIL UNIT generate in a year?
- GRAY 2 OIL UNIT is forecast to net about $19K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in GRAY 2 OIL UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Valence Operating Company |
|---|---|
| Field | P.L. (Rodessa) |
| County | Cherokee County, Texas |
| RRC district | 06 |
| Lease number | 15220 |
| Wellbores | 1 |
| Reported production | 9,482 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $107K |
Where GRAY 2 OIL 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.