SPEARMAN 23
SPEARMAN 23 is a Texas oil lease in Gray County, Railroad Commission district 10, operated by Kog Energy LLC. It has 3 wellbores on file with the Commission. Reported production runs from October 2014 to August 2026, totalling 1,136,758 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 $3.0M, with roughly $1.3M 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 2,554 barrels a month, about 851 per wellbore. Its strongest month on the record we hold was January 2020, at 20,272 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 SPEARMAN 23
- Who operates SPEARMAN 23?
- SPEARMAN 23 is operated by Kog Energy LLC, Railroad Commission of Texas operator number 473872.
- Where is SPEARMAN 23?
- SPEARMAN 23 is a Texas oil lease in Gray County, Texas, in Railroad Commission district 10. Its Railroad Commission lease number is 09396.
- Is SPEARMAN 23 still producing?
- SPEARMAN 23 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for SPEARMAN 23 is August 2026.
- How much has SPEARMAN 23 produced?
- SPEARMAN 23 has reported 1,136,758 barrels of oil (bbl) to the Railroad Commission of Texas between October 2014 and August 2026, from 3 wellbores.
- How much is SPEARMAN 23 worth?
- The remaining production from SPEARMAN 23 is estimated to be worth about $3.0M in total as of 26 August 2026, within a range of $2.5M to $3.5M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in SPEARMAN 23 is a fraction of it. The estimate fits an Arps decline curve to the production SPEARMAN 23 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for SPEARMAN 23 is an estimate of value, not an offer and not an appraisal.
- How much income does SPEARMAN 23 generate in a year?
- SPEARMAN 23 is forecast to net about $1.3M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in SPEARMAN 23 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Kog Energy LLC |
|---|---|
| Field | Hoover, Ne (Granite Wash) |
| County | Gray County, Texas |
| RRC district | 10 |
| Lease number | 09396 |
| Wellbores | 3 |
| Reported production | 1,136,758 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $3.0M |
Where SPEARMAN 23 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.