CAPPS
CAPPS is a Texas gas lease in Eastland County, Railroad Commission district 7B, operated by Richey, Ray Management Co., Inc. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 124,248 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 $24K, with roughly $3K 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 123 thousand cubic feet a month. Its strongest month on the record we hold was January 2021, at 1,058 thousand cubic feet. 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 CAPPS
- Who operates CAPPS?
- CAPPS is operated by Richey, Ray Management Co., Inc., Railroad Commission of Texas operator number 709694.
- Where is CAPPS?
- CAPPS is a Texas gas lease in Eastland County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 134347.
- Is CAPPS still producing?
- CAPPS is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CAPPS is August 2026.
- How much has CAPPS produced?
- CAPPS has reported 124,248 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is CAPPS worth?
- The remaining production from CAPPS is estimated to be worth about $24K in total as of 26 August 2026, within a range of $19K to $30K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CAPPS is a fraction of it. The estimate fits an Arps decline curve to the production CAPPS has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CAPPS is an estimate of value, not an offer and not an appraisal.
- How much income does CAPPS generate in a year?
- CAPPS is forecast to net about $3K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in CAPPS receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Richey, Ray Management Co., Inc. |
|---|---|
| Field | Eastland County Regular |
| County | Eastland County, Texas |
| RRC district | 7B |
| Lease number | 134347 |
| Wellbores | 1 |
| Reported production | 124,248 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $24K |
Where CAPPS 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.