REED 1 B
REED 1 B is a Texas oil lease in Howard County, Railroad Commission district 08, operated by Diamondback E&P LLC. It has 1 wellbore on file with the Commission. Reported production runs from June 2018 to August 2026, totalling 324,575 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 $1.0M, with roughly $162K 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 250 barrels a month. Its strongest month on the record we hold was August 2018, at 30,922 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 REED 1 B
- Who operates REED 1 B?
- REED 1 B is operated by Diamondback E&P LLC, Railroad Commission of Texas operator number 217012.
- Where is REED 1 B?
- REED 1 B is a Texas oil lease in Howard County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 51709.
- Is REED 1 B still producing?
- REED 1 B is currently producing. The most recent month of production reported to the Railroad Commission of Texas for REED 1 B is August 2026.
- How much has REED 1 B produced?
- REED 1 B has reported 324,575 barrels of oil (bbl) to the Railroad Commission of Texas between June 2018 and August 2026, from 1 wellbore.
- How much is REED 1 B worth?
- The remaining production from REED 1 B is estimated to be worth about $1.0M in total as of 26 August 2026, within a range of $803K to $1.3M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in REED 1 B is a fraction of it. The estimate fits an Arps decline curve to the production REED 1 B has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for REED 1 B is an estimate of value, not an offer and not an appraisal.
- How much income does REED 1 B generate in a year?
- REED 1 B is forecast to net about $162K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in REED 1 B receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Diamondback E&P LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Howard County, Texas |
| RRC district | 08 |
| Lease number | 51709 |
| Wellbores | 1 |
| Reported production | 324,575 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.0M |
Where REED 1 B 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.