PEN RANCH UNIT
PEN RANCH UNIT is a Texas oil lease in Gonzales County, Railroad Commission district 01, operated by Earthstone Operating, LLC. It has 7 wellbores on file with the Commission. Reported production runs from April 2019 to August 2026, totalling 1,486,046 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 $14.4M, with roughly $4.6M 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 7,478 barrels a month, about 1,068 per wellbore. Its strongest month on the record we hold was November 2019, at 97,409 barrels. 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 PEN RANCH UNIT
- Who operates PEN RANCH UNIT?
- PEN RANCH UNIT is operated by Earthstone Operating, LLC, Railroad Commission of Texas operator number 238732.
- Where is PEN RANCH UNIT?
- PEN RANCH UNIT is a Texas oil lease in Gonzales County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 19839.
- Is PEN RANCH UNIT still producing?
- PEN RANCH UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PEN RANCH UNIT is August 2026.
- How much has PEN RANCH UNIT produced?
- PEN RANCH UNIT has reported 1,486,046 barrels of oil (bbl) to the Railroad Commission of Texas between April 2019 and August 2026, from 7 wellbores.
- How much is PEN RANCH UNIT worth?
- The remaining production from PEN RANCH UNIT is estimated to be worth about $14.4M in total as of 27 August 2026, within a range of $12.0M to $16.9M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PEN RANCH UNIT is a fraction of it. The estimate fits an Arps decline curve to the production PEN RANCH UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PEN RANCH UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does PEN RANCH UNIT generate in a year?
- PEN RANCH UNIT is forecast to net about $4.6M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in PEN RANCH UNIT receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Earthstone Operating, LLC |
|---|---|
| Field | Eagleville (Eagle Ford-1) |
| County | Gonzales County, Texas |
| RRC district | 01 |
| Lease number | 19839 |
| Wellbores | 7 |
| Reported production | 1,486,046 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $14.4M |
Where PEN RANCH UNIT 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.