SPENCE
SPENCE is a Texas oil lease in Cochran County, Railroad Commission district 8A, operated by Staley Operating Co. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 22,864 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 $100K, 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 34 barrels a month. Its strongest month on the record we hold was July 2017, at 93 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 SPENCE
- Who operates SPENCE?
- SPENCE is operated by Staley Operating Co., Railroad Commission of Texas operator number 811415.
- Where is SPENCE?
- SPENCE is a Texas oil lease in Cochran County, Texas, in Railroad Commission district 8A. Its Railroad Commission lease number is 63217.
- Is SPENCE still producing?
- SPENCE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for SPENCE is August 2026.
- How much has SPENCE produced?
- SPENCE has reported 22,864 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is SPENCE worth?
- The remaining production from SPENCE is estimated to be worth about $100K in total as of 26 August 2026, within a range of $55K to $145K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in SPENCE is a fraction of it. The estimate fits an Arps decline curve to the production SPENCE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for SPENCE is an estimate of value, not an offer and not an appraisal.
- How much income does SPENCE generate in a year?
- SPENCE 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 SPENCE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Staley Operating Co. |
|---|---|
| Field | Levelland |
| County | Cochran County, Texas |
| RRC district | 8A |
| Lease number | 63217 |
| Wellbores | 1 |
| Reported production | 22,864 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $100K |
Where SPENCE 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.