FARM
FARM is a Texas oil lease in Edwards County, Railroad Commission district 01, operated by PNP Operating Company LLC. It has 4 wellbores on file with the Commission. Reported production runs from September 2023 to August 2026, totalling 210 barrels. The lease is intermittent. 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 $118K, with roughly $23K 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 15 barrels a month, about 4 per wellbore. Its strongest month on the record we hold was April 2026, at 180 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 FARM
- Who operates FARM?
- FARM is operated by PNP Operating Company LLC, Railroad Commission of Texas operator number 668542.
- Where is FARM?
- FARM is a Texas oil lease in Edwards County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 21782.
- Is FARM still producing?
- FARM is intermittent. The most recent month of production reported to the Railroad Commission of Texas for FARM is August 2026.
- How much has FARM produced?
- FARM has reported 210 barrels of oil (bbl) to the Railroad Commission of Texas between September 2023 and August 2026, from 4 wellbores.
- How much is FARM worth?
- The remaining production from FARM is estimated to be worth about $118K in total as of 26 August 2026, within a range of $65K to $170K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in FARM is a fraction of it. The estimate fits an Arps decline curve to the production FARM has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for FARM is an estimate of value, not an offer and not an appraisal.
- How much income does FARM generate in a year?
- FARM is forecast to net about $23K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in FARM receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | PNP Operating Company LLC |
|---|---|
| Field | Turney |
| County | Edwards County, Texas |
| RRC district | 01 |
| Lease number | 21782 |
| Wellbores | 4 |
| Reported production | 210 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $118K |
Where FARM 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.