GARRETT UNIT 37-48
GARRETT UNIT 37-48 is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Element Petro Operating II, LLC. It has 4 wellbores on file with the Commission. Reported production runs from October 2015 to August 2026, totalling 1,266,896 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 $9.1M, with roughly $2.8M 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 4,003 barrels a month, about 1,001 per wellbore. Its strongest month on the record we hold was November 2017, at 46,880 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 GARRETT UNIT 37-48
- Who operates GARRETT UNIT 37-48?
- GARRETT UNIT 37-48 is operated by Element Petro Operating II, LLC, Railroad Commission of Texas operator number 247685.
- Where is GARRETT UNIT 37-48?
- GARRETT UNIT 37-48 is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 47496.
- Is GARRETT UNIT 37-48 still producing?
- GARRETT UNIT 37-48 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GARRETT UNIT 37-48 is August 2026.
- How much has GARRETT UNIT 37-48 produced?
- GARRETT UNIT 37-48 has reported 1,266,896 barrels of oil (bbl) to the Railroad Commission of Texas between October 2015 and August 2026, from 4 wellbores.
- How much is GARRETT UNIT 37-48 worth?
- The remaining production from GARRETT UNIT 37-48 is estimated to be worth about $9.1M in total as of 26 August 2026, within a range of $7.5M to $10.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GARRETT UNIT 37-48 is a fraction of it. The estimate fits an Arps decline curve to the production GARRETT UNIT 37-48 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GARRETT UNIT 37-48 is an estimate of value, not an offer and not an appraisal.
- How much income does GARRETT UNIT 37-48 generate in a year?
- GARRETT UNIT 37-48 is forecast to net about $2.8M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in GARRETT UNIT 37-48 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Element Petro Operating II, LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 47496 |
| Wellbores | 4 |
| Reported production | 1,266,896 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $9.1M |
Where GARRETT UNIT 37-48 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.