MAYO
MAYO is a Texas oil lease in Clay County, Railroad Commission district 09, operated by Covenant Operating, LLC. It has 1 wellbore on file with the Commission. Reported production runs from December 2021 to August 2026, totalling 5,078 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 $199K, with roughly $38K 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 53 barrels a month. Its strongest month on the record we hold was January 2022, at 431 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 MAYO
- Who operates MAYO?
- MAYO is operated by Covenant Operating, LLC, Railroad Commission of Texas operator number 182800.
- Where is MAYO?
- MAYO is a Texas oil lease in Clay County, Texas, in Railroad Commission district 09. Its Railroad Commission lease number is 34065.
- Is MAYO still producing?
- MAYO is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MAYO is August 2026.
- How much has MAYO produced?
- MAYO has reported 5,078 barrels of oil (bbl) to the Railroad Commission of Texas between December 2021 and August 2026, from 1 wellbore.
- How much is MAYO worth?
- The remaining production from MAYO is estimated to be worth about $199K in total as of 26 August 2026, within a range of $109K to $288K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MAYO is a fraction of it. The estimate fits an Arps decline curve to the production MAYO has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MAYO is an estimate of value, not an offer and not an appraisal.
- How much income does MAYO generate in a year?
- MAYO is forecast to net about $38K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MAYO receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Covenant Operating, LLC |
|---|---|
| Field | Joy (Strawn) |
| County | Clay County, Texas |
| RRC district | 09 |
| Lease number | 34065 |
| Wellbores | 1 |
| Reported production | 5,078 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $199K |
Where MAYO 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.