BLACK
BLACK is a Texas gas lease in Leon County, Railroad Commission district 05, operated by Valence Operating Company. It has 1 wellbore on file with the Commission. Reported production runs from July 2008 to August 2026, totalling 1,752,184 thousand cubic feet. 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 $658K, with roughly $107K 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 5,219 thousand cubic feet a month. Its strongest month on the record we hold was December 2025, at 11,449 thousand cubic feet. 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 BLACK
- Who operates BLACK?
- BLACK is operated by Valence Operating Company, Railroad Commission of Texas operator number 881167.
- Where is BLACK?
- BLACK is a Texas gas lease in Leon County, Texas, in Railroad Commission district 05. Its Railroad Commission lease number is 244637.
- Is BLACK still producing?
- BLACK is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BLACK is August 2026.
- How much has BLACK produced?
- BLACK has reported 1,752,184 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between July 2008 and August 2026, from 1 wellbore.
- How much is BLACK worth?
- The remaining production from BLACK is estimated to be worth about $658K in total as of 26 August 2026, within a range of $546K to $770K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BLACK is a fraction of it. The estimate fits an Arps decline curve to the production BLACK has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BLACK is an estimate of value, not an offer and not an appraisal.
- How much income does BLACK generate in a year?
- BLACK is forecast to net about $107K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BLACK receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Valence Operating Company |
|---|---|
| Field | Farrar (Cotton Valley Lime) |
| County | Leon County, Texas |
| RRC district | 05 |
| Lease number | 244637 |
| Wellbores | 1 |
| Reported production | 1,752,184 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $658K |
Where BLACK 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.