MARTHA
MARTHA is a Texas oil lease in Lee County, Railroad Commission district 03, operated by Estate Oil & Gas Corp. It has 1 wellbore on file with the Commission. Reported production runs from May 1995 to August 2026, totalling 31,929 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 $120K, with roughly $23K 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 21 barrels a month. Its strongest month on the record we hold was November 2016, at 238 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 MARTHA
- Who operates MARTHA?
- MARTHA is operated by Estate Oil & Gas Corp., Railroad Commission of Texas operator number 254450.
- Where is MARTHA?
- MARTHA is a Texas oil lease in Lee County, Texas, in Railroad Commission district 03. Its Railroad Commission lease number is 22738.
- Is MARTHA still producing?
- MARTHA is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MARTHA is August 2026.
- How much has MARTHA produced?
- MARTHA has reported 31,929 barrels of oil (bbl) to the Railroad Commission of Texas between May 1995 and August 2026, from 1 wellbore.
- How much is MARTHA worth?
- The remaining production from MARTHA is estimated to be worth about $120K in total as of 26 August 2026, within a range of $66K to $174K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MARTHA is a fraction of it. The estimate fits an Arps decline curve to the production MARTHA has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MARTHA is an estimate of value, not an offer and not an appraisal.
- How much income does MARTHA generate in a year?
- MARTHA is forecast to net about $23K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MARTHA receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Estate Oil & Gas Corp. |
|---|---|
| Field | Giddings (Navarro, Oil) |
| County | Lee County, Texas |
| RRC district | 03 |
| Lease number | 22738 |
| Wellbores | 1 |
| Reported production | 31,929 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $120K |
Where MARTHA 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.