PRICE 3
PRICE 3 is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Ovintiv USA Inc. It has 1 wellbore on file with the Commission. Reported production runs from August 2014 to August 2026, totalling 23,737 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 $368K, with roughly $66K 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 91 barrels a month. Its strongest month on the record we hold was August 2017, at 687 barrels. In our own backtest, leases producing at this rate are forecast to within about 45% 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 PRICE 3
- Who operates PRICE 3?
- PRICE 3 is operated by Ovintiv USA Inc., Railroad Commission of Texas operator number 628658.
- Where is PRICE 3?
- PRICE 3 is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 54228.
- Is PRICE 3 still producing?
- PRICE 3 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PRICE 3 is August 2026.
- How much has PRICE 3 produced?
- PRICE 3 has reported 23,737 barrels of oil (bbl) to the Railroad Commission of Texas between August 2014 and August 2026, from 1 wellbore.
- How much is PRICE 3 worth?
- The remaining production from PRICE 3 is estimated to be worth about $368K in total as of 27 August 2026, within a range of $202K to $533K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PRICE 3 is a fraction of it. The estimate fits an Arps decline curve to the production PRICE 3 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PRICE 3 is an estimate of value, not an offer and not an appraisal.
- How much income does PRICE 3 generate in a year?
- PRICE 3 is forecast to net about $66K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in PRICE 3 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Ovintiv USA Inc. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 54228 |
| Wellbores | 1 |
| Reported production | 23,737 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $368K |
Where PRICE 3 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.