JOHNSTON
JOHNSTON is a Texas gas lease in Gray County, Railroad Commission district 10, operated by Meridian Oil Inc. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 921,862 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 $131K, with roughly $20K 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 902 thousand cubic feet a month. Its strongest month on the record we hold was May 2018, at 1,943 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 JOHNSTON
- Who operates JOHNSTON?
- JOHNSTON is operated by Meridian Oil Inc., Railroad Commission of Texas operator number 561132.
- Where is JOHNSTON?
- JOHNSTON is a Texas gas lease in Gray County, Texas, in Railroad Commission district 10. Its Railroad Commission lease number is 023728.
- Is JOHNSTON still producing?
- JOHNSTON is currently producing. The most recent month of production reported to the Railroad Commission of Texas for JOHNSTON is August 2026.
- How much has JOHNSTON produced?
- JOHNSTON has reported 921,862 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is JOHNSTON worth?
- The remaining production from JOHNSTON is estimated to be worth about $131K in total as of 26 August 2026, within a range of $102K to $160K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in JOHNSTON is a fraction of it. The estimate fits an Arps decline curve to the production JOHNSTON has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for JOHNSTON is an estimate of value, not an offer and not an appraisal.
- How much income does JOHNSTON generate in a year?
- JOHNSTON is forecast to net about $20K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in JOHNSTON receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Meridian Oil Inc. |
|---|---|
| Field | Panhandle, West |
| County | Gray County, Texas |
| RRC district | 10 |
| Lease number | 023728 |
| Wellbores | 1 |
| Reported production | 921,862 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $131K |
Where JOHNSTON 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.