TORTUGA
TORTUGA is a Texas oil lease in Frio County, Railroad Commission district 01, operated by Venado Operating Company LLC. It has 9 wellbores on file with the Commission. Reported production runs from January 2018 to August 2026, totalling 300,556 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 $98.9M, with roughly $22.9M 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 22,969 barrels a month, about 2,552 per wellbore. Its strongest month on the record we hold was November 2025, at 39,933 barrels. In our own backtest, leases producing at this rate are forecast to within about 18% 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 TORTUGA
- Who operates TORTUGA?
- TORTUGA is operated by Venado Operating Company LLC, Railroad Commission of Texas operator number 884496.
- Where is TORTUGA?
- TORTUGA is a Texas oil lease in Frio County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 19277.
- Is TORTUGA still producing?
- TORTUGA is intermittent. The most recent month of production reported to the Railroad Commission of Texas for TORTUGA is August 2026.
- How much has TORTUGA produced?
- TORTUGA has reported 300,556 barrels of oil (bbl) to the Railroad Commission of Texas between January 2018 and August 2026, from 9 wellbores.
- How much is TORTUGA worth?
- The remaining production from TORTUGA is estimated to be worth about $98.9M in total as of 27 August 2026, within a range of $81.1M to $116.7M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in TORTUGA is a fraction of it. The estimate fits an Arps decline curve to the production TORTUGA has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for TORTUGA is an estimate of value, not an offer and not an appraisal.
- How much income does TORTUGA generate in a year?
- TORTUGA is forecast to net about $22.9M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in TORTUGA receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Venado Operating Company LLC |
|---|---|
| Field | Briscoe Ranch (Eagleford) |
| County | Frio County, Texas |
| RRC district | 01 |
| Lease number | 19277 |
| Wellbores | 9 |
| Reported production | 300,556 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $98.9M |
Where TORTUGA 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.