MORGAN ESTATE
MORGAN ESTATE is a Texas oil lease in Clay County, Railroad Commission district 09, operated by Landrum, W. A. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 3,895 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 $74K, with roughly $14K 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 22 barrels a month. Its strongest month on the record we hold was November 2023, at 60 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 MORGAN ESTATE
- Who operates MORGAN ESTATE?
- MORGAN ESTATE is operated by Landrum, W. A., Railroad Commission of Texas operator number 484810.
- Where is MORGAN ESTATE?
- MORGAN ESTATE is a Texas oil lease in Clay County, Texas, in Railroad Commission district 09. Its Railroad Commission lease number is 12143.
- Is MORGAN ESTATE still producing?
- MORGAN ESTATE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MORGAN ESTATE is August 2026.
- How much has MORGAN ESTATE produced?
- MORGAN ESTATE has reported 3,895 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is MORGAN ESTATE worth?
- The remaining production from MORGAN ESTATE is estimated to be worth about $74K in total as of 27 August 2026, within a range of $41K to $108K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MORGAN ESTATE is a fraction of it. The estimate fits an Arps decline curve to the production MORGAN ESTATE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MORGAN ESTATE is an estimate of value, not an offer and not an appraisal.
- How much income does MORGAN ESTATE generate in a year?
- MORGAN ESTATE is forecast to net about $14K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in MORGAN ESTATE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Landrum, W. A. |
|---|---|
| Field | Clay County Regular |
| County | Clay County, Texas |
| RRC district | 09 |
| Lease number | 12143 |
| Wellbores | 1 |
| Reported production | 3,895 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $74K |
Where MORGAN ESTATE 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.