CONE
CONE is a Texas oil lease in Gaines County, Railroad Commission district 08, operated by Caprock Operating, Inc. It has 3 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 129,516 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 $20K, with roughly $4K 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 4 barrels a month, about 1 per wellbore. Its strongest month on the record we hold was September 2023, at 87 barrels. In our own backtest, leases producing at this rate are forecast to within about 100% 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 CONE
- Who operates CONE?
- CONE is operated by Caprock Operating, Inc., Railroad Commission of Texas operator number 130482.
- Where is CONE?
- CONE is a Texas oil lease in Gaines County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 28377.
- Is CONE still producing?
- CONE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CONE is August 2026.
- How much has CONE produced?
- CONE has reported 129,516 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 3 wellbores.
- How much is CONE worth?
- The remaining production from CONE is estimated to be worth about $20K in total as of 27 August 2026, within a range of $0 to $39K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CONE is a fraction of it. The estimate fits an Arps decline curve to the production CONE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CONE is an estimate of value, not an offer and not an appraisal.
- How much income does CONE generate in a year?
- CONE is forecast to net about $4K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in CONE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Caprock Operating, Inc. |
|---|---|
| Field | Means, N. (Queen Sand) |
| County | Gaines County, Texas |
| RRC district | 08 |
| Lease number | 28377 |
| Wellbores | 3 |
| Reported production | 129,516 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $20K |
Where CONE 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.