UNIVERSITY BLOCK -31-
UNIVERSITY BLOCK -31- is a Texas oil lease in Crane County, Railroad Commission district 08, operated by Plains Petroleum Operating Co. It has 6 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 136,711 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 $776K, with roughly $176K 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 248 barrels a month, about 41 per wellbore. Its strongest month on the record we hold was June 2020, at 451 barrels. In our own backtest, leases producing at this rate are forecast to within about 22% 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 UNIVERSITY BLOCK -31-
- Who operates UNIVERSITY BLOCK -31-?
- UNIVERSITY BLOCK -31- is operated by Plains Petroleum Operating Co., Railroad Commission of Texas operator number 667867.
- Where is UNIVERSITY BLOCK -31-?
- UNIVERSITY BLOCK -31- is a Texas oil lease in Crane County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 21119.
- Is UNIVERSITY BLOCK -31- still producing?
- UNIVERSITY BLOCK -31- is currently producing. The most recent month of production reported to the Railroad Commission of Texas for UNIVERSITY BLOCK -31- is August 2026.
- How much has UNIVERSITY BLOCK -31- produced?
- UNIVERSITY BLOCK -31- has reported 136,711 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 6 wellbores.
- How much is UNIVERSITY BLOCK -31- worth?
- The remaining production from UNIVERSITY BLOCK -31- is estimated to be worth about $776K in total as of 27 August 2026, within a range of $605K to $947K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in UNIVERSITY BLOCK -31- is a fraction of it. The estimate fits an Arps decline curve to the production UNIVERSITY BLOCK -31- has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for UNIVERSITY BLOCK -31- is an estimate of value, not an offer and not an appraisal.
- How much income does UNIVERSITY BLOCK -31- generate in a year?
- UNIVERSITY BLOCK -31- is forecast to net about $176K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in UNIVERSITY BLOCK -31- receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Plains Petroleum Operating Co. |
|---|---|
| Field | Block 31, NW. (Penn Upper) |
| County | Crane County, Texas |
| RRC district | 08 |
| Lease number | 21119 |
| Wellbores | 6 |
| Reported production | 136,711 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $776K |
Where UNIVERSITY BLOCK -31- 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.