GRAYSTONE UNIT 39-26
GRAYSTONE UNIT 39-26 is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Surge Operating, LLC. It has 6 wellbores on file with the Commission. Reported production runs from November 2024 to August 2026, totalling 842,716 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 $33.2M, with roughly $12.5M 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 30,869 barrels a month, about 5,145 per wellbore. Its strongest month on the record we hold was December 2024, at 133,027 barrels. In our own backtest, leases producing at this rate are forecast to within about 18% 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 GRAYSTONE UNIT 39-26
- Who operates GRAYSTONE UNIT 39-26?
- GRAYSTONE UNIT 39-26 is operated by Surge Operating, LLC, Railroad Commission of Texas operator number 760725.
- Where is GRAYSTONE UNIT 39-26?
- GRAYSTONE UNIT 39-26 is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 62685.
- Is GRAYSTONE UNIT 39-26 still producing?
- GRAYSTONE UNIT 39-26 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GRAYSTONE UNIT 39-26 is August 2026.
- How much has GRAYSTONE UNIT 39-26 produced?
- GRAYSTONE UNIT 39-26 has reported 842,716 barrels of oil (bbl) to the Railroad Commission of Texas between November 2024 and August 2026, from 6 wellbores.
- How much is GRAYSTONE UNIT 39-26 worth?
- The remaining production from GRAYSTONE UNIT 39-26 is estimated to be worth about $33.2M in total as of 26 August 2026, within a range of $27.2M to $39.1M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GRAYSTONE UNIT 39-26 is a fraction of it. The estimate fits an Arps decline curve to the production GRAYSTONE UNIT 39-26 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GRAYSTONE UNIT 39-26 is an estimate of value, not an offer and not an appraisal.
- How much income does GRAYSTONE UNIT 39-26 generate in a year?
- GRAYSTONE UNIT 39-26 is forecast to net about $12.5M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in GRAYSTONE UNIT 39-26 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Surge Operating, LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 62685 |
| Wellbores | 6 |
| Reported production | 842,716 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $33.2M |
Where GRAYSTONE UNIT 39-26 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.