SPENCE "B"
SPENCE "B" is a Texas gas lease in Limestone County, Railroad Commission district 05, operated by Xto Energy Inc. It has 1 wellbore on file with the Commission. Reported production runs from April 2008 to August 2026, totalling 315,876 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 $6K, with roughly $773 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 27 thousand cubic feet a month. Its strongest month on the record we hold was June 2017, at 529 thousand cubic feet. 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 SPENCE "B"
- Who operates SPENCE "B"?
- SPENCE "B" is operated by Xto Energy Inc., Railroad Commission of Texas operator number 945936.
- Where is SPENCE "B"?
- SPENCE "B" is a Texas gas lease in Limestone County, Texas, in Railroad Commission district 05. Its Railroad Commission lease number is 240325.
- Is SPENCE "B" still producing?
- SPENCE "B" is currently producing. The most recent month of production reported to the Railroad Commission of Texas for SPENCE "B" is August 2026.
- How much has SPENCE "B" produced?
- SPENCE "B" has reported 315,876 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between April 2008 and August 2026, from 1 wellbore.
- How much is SPENCE "B" worth?
- The remaining production from SPENCE "B" is estimated to be worth about $6K in total as of 26 August 2026, within a range of $3K to $9K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in SPENCE "B" is a fraction of it. The estimate fits an Arps decline curve to the production SPENCE "B" has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for SPENCE "B" is an estimate of value, not an offer and not an appraisal.
- How much income does SPENCE "B" generate in a year?
- SPENCE "B" is forecast to net about $773 across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in SPENCE "B" receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Xto Energy Inc. |
|---|---|
| Field | Oletha, SW (Cotton Valley Sand) |
| County | Limestone County, Texas |
| RRC district | 05 |
| Lease number | 240325 |
| Wellbores | 1 |
| Reported production | 315,876 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $6K |
Where SPENCE "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.