STATE RAY 12
STATE RAY 12 is a Texas gas lease in Culberson County, Railroad Commission district 08, operated by Capitan Energy, Incorporated. It has 1 wellbore on file with the Commission. Reported production runs from July 2017 to August 2026, totalling 3,370,082 thousand cubic feet. 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 $1.4M, with roughly $355K 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 9,574 thousand cubic feet a month. Its strongest month on the record we hold was August 2017, at 114,873 thousand cubic feet. 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 STATE RAY 12
- Who operates STATE RAY 12?
- STATE RAY 12 is operated by Capitan Energy, Incorporated, Railroad Commission of Texas operator number 130061.
- Where is STATE RAY 12?
- STATE RAY 12 is a Texas gas lease in Culberson County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 286245.
- Is STATE RAY 12 still producing?
- STATE RAY 12 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for STATE RAY 12 is August 2026.
- How much has STATE RAY 12 produced?
- STATE RAY 12 has reported 3,370,082 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between July 2017 and August 2026, from 1 wellbore.
- How much is STATE RAY 12 worth?
- The remaining production from STATE RAY 12 is estimated to be worth about $1.4M in total as of 26 August 2026, within a range of $1.1M to $1.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in STATE RAY 12 is a fraction of it. The estimate fits an Arps decline curve to the production STATE RAY 12 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for STATE RAY 12 is an estimate of value, not an offer and not an appraisal.
- How much income does STATE RAY 12 generate in a year?
- STATE RAY 12 is forecast to net about $355K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in STATE RAY 12 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Capitan Energy, Incorporated |
|---|---|
| Field | Ford, West (Wolfcamp) |
| County | Culberson County, Texas |
| RRC district | 08 |
| Lease number | 286245 |
| Wellbores | 1 |
| Reported production | 3,370,082 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.4M |
Where STATE RAY 12 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.