ADAMS 38
ADAMS 38 is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Cobra Oil & Gas Corporation. It has 2 wellbores on file with the Commission. Reported production runs from October 2010 to August 2026, totalling 130,658 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 $350K, with roughly $64K 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 187 barrels a month, about 94 per wellbore. Its strongest month on the record we hold was April 2020, at 2,497 barrels. 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 ADAMS 38
- Who operates ADAMS 38?
- ADAMS 38 is operated by Cobra Oil & Gas Corporation, Railroad Commission of Texas operator number 163000.
- Where is ADAMS 38?
- ADAMS 38 is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 41856.
- Is ADAMS 38 still producing?
- ADAMS 38 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for ADAMS 38 is August 2026.
- How much has ADAMS 38 produced?
- ADAMS 38 has reported 130,658 barrels of oil (bbl) to the Railroad Commission of Texas between October 2010 and August 2026, from 2 wellbores.
- How much is ADAMS 38 worth?
- The remaining production from ADAMS 38 is estimated to be worth about $350K in total as of 27 August 2026, within a range of $273K to $428K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in ADAMS 38 is a fraction of it. The estimate fits an Arps decline curve to the production ADAMS 38 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for ADAMS 38 is an estimate of value, not an offer and not an appraisal.
- How much income does ADAMS 38 generate in a year?
- ADAMS 38 is forecast to net about $64K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in ADAMS 38 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Cobra Oil & Gas Corporation |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 41856 |
| Wellbores | 2 |
| Reported production | 130,658 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $350K |
Where ADAMS 38 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.