APPEL 438
APPEL 438 is a Texas oil lease in Lipscomb County, Railroad Commission district 10, operated by Mcclure Oil Company, Inc. It has 3 wellbores on file with the Commission. Reported production runs from February 2010 to August 2026, totalling 350,551 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 $1.5M, with roughly $284K 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 241 barrels a month, about 80 per wellbore. Its strongest month on the record we hold was May 2016, at 1,276 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 APPEL 438
- Who operates APPEL 438?
- APPEL 438 is operated by Mcclure Oil Company, Inc., Railroad Commission of Texas operator number 540703.
- Where is APPEL 438?
- APPEL 438 is a Texas oil lease in Lipscomb County, Texas, in Railroad Commission district 10. Its Railroad Commission lease number is 08145.
- Is APPEL 438 still producing?
- APPEL 438 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for APPEL 438 is August 2026.
- How much has APPEL 438 produced?
- APPEL 438 has reported 350,551 barrels of oil (bbl) to the Railroad Commission of Texas between February 2010 and August 2026, from 3 wellbores.
- How much is APPEL 438 worth?
- The remaining production from APPEL 438 is estimated to be worth about $1.5M in total as of 27 August 2026, within a range of $1.2M to $1.8M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in APPEL 438 is a fraction of it. The estimate fits an Arps decline curve to the production APPEL 438 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for APPEL 438 is an estimate of value, not an offer and not an appraisal.
- How much income does APPEL 438 generate in a year?
- APPEL 438 is forecast to net about $284K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in APPEL 438 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Mcclure Oil Company, Inc. |
|---|---|
| Field | Spivey (San Andres) |
| County | Lipscomb County, Texas |
| RRC district | 10 |
| Lease number | 08145 |
| Wellbores | 3 |
| Reported production | 350,551 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.5M |
Where APPEL 438 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.