LEHMAN
LEHMAN is a Texas gas lease in Gray County, Railroad Commission district 10, operated by Phillips Petroleum Company. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 444,566 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 $54K, with roughly $10K 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 428 thousand cubic feet a month. Its strongest month on the record we hold was July 2016, at 813 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 LEHMAN
- Who operates LEHMAN?
- LEHMAN is operated by Phillips Petroleum Company, Railroad Commission of Texas operator number 663680.
- Where is LEHMAN?
- LEHMAN is a Texas gas lease in Gray County, Texas, in Railroad Commission district 10. Its Railroad Commission lease number is 025002.
- Is LEHMAN still producing?
- LEHMAN is currently producing. The most recent month of production reported to the Railroad Commission of Texas for LEHMAN is August 2026.
- How much has LEHMAN produced?
- LEHMAN has reported 444,566 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is LEHMAN worth?
- The remaining production from LEHMAN is estimated to be worth about $54K in total as of 26 August 2026, within a range of $42K to $66K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in LEHMAN is a fraction of it. The estimate fits an Arps decline curve to the production LEHMAN has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for LEHMAN is an estimate of value, not an offer and not an appraisal.
- How much income does LEHMAN generate in a year?
- LEHMAN is forecast to net about $10K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in LEHMAN receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Phillips Petroleum Company |
|---|---|
| Field | Panhandle, West |
| County | Gray County, Texas |
| RRC district | 10 |
| Lease number | 025002 |
| Wellbores | 1 |
| Reported production | 444,566 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $54K |
Where LEHMAN 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.