RICHARDS UNIT
RICHARDS UNIT is a Texas oil lease in Cottle County, Railroad Commission district 8A, operated by Gunn Oil Company. It has 1 wellbore on file with the Commission. Reported production runs from January 2017 to August 2026, totalling 176,086 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 $3.9M, with roughly $878K 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 1,575 barrels a month. Its strongest month on the record we hold was August 2017, at 2,835 barrels. In our own backtest, leases producing at this rate are forecast to within about 17% 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 RICHARDS UNIT
- Who operates RICHARDS UNIT?
- RICHARDS UNIT is operated by Gunn Oil Company, Railroad Commission of Texas operator number 339493.
- Where is RICHARDS UNIT?
- RICHARDS UNIT is a Texas oil lease in Cottle County, Texas, in Railroad Commission district 8A. Its Railroad Commission lease number is 70531.
- Is RICHARDS UNIT still producing?
- RICHARDS UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for RICHARDS UNIT is August 2026.
- How much has RICHARDS UNIT produced?
- RICHARDS UNIT has reported 176,086 barrels of oil (bbl) to the Railroad Commission of Texas between January 2017 and August 2026, from 1 wellbore.
- How much is RICHARDS UNIT worth?
- The remaining production from RICHARDS UNIT is estimated to be worth about $3.9M in total as of 26 August 2026, within a range of $3.2M to $4.5M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in RICHARDS UNIT is a fraction of it. The estimate fits an Arps decline curve to the production RICHARDS UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for RICHARDS UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does RICHARDS UNIT generate in a year?
- RICHARDS UNIT is forecast to net about $878K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in RICHARDS UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Gunn Oil Company |
|---|---|
| Field | Stescott (Canyon) |
| County | Cottle County, Texas |
| RRC district | 8A |
| Lease number | 70531 |
| Wellbores | 1 |
| Reported production | 176,086 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $3.9M |
Where RICHARDS 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.