STATE 18-19
STATE 18-19 is a Texas oil lease in Loving County, Railroad Commission district 08, operated by Circle-S Energy, LLC. It has 3 wellbores on file with the Commission. Reported production runs from March 2026 to August 2026, totalling 107,534 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 $153.8M, with roughly $28.7M 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 35,731 barrels a month, about 11,910 per wellbore. Its strongest month on the record we hold was April 2026, at 47,458 barrels. In our own backtest, leases producing at this rate are forecast to within about 18% 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 STATE 18-19
- Who operates STATE 18-19?
- STATE 18-19 is operated by Circle-S Energy, LLC, Railroad Commission of Texas operator number 100703.
- Where is STATE 18-19?
- STATE 18-19 is a Texas oil lease in Loving County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 65040.
- Is STATE 18-19 still producing?
- STATE 18-19 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for STATE 18-19 is August 2026.
- How much has STATE 18-19 produced?
- STATE 18-19 has reported 107,534 barrels of oil (bbl) to the Railroad Commission of Texas between March 2026 and August 2026, from 3 wellbores.
- How much is STATE 18-19 worth?
- The remaining production from STATE 18-19 is estimated to be worth about $153.8M in total as of 26 August 2026, within a range of $126.1M to $181.5M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in STATE 18-19 is a fraction of it. The estimate fits an Arps decline curve to the production STATE 18-19 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for STATE 18-19 is an estimate of value, not an offer and not an appraisal.
- How much income does STATE 18-19 generate in a year?
- STATE 18-19 is forecast to net about $28.7M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in STATE 18-19 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Circle-S Energy, LLC |
|---|---|
| Field | Sandbar (Bone Spring) |
| County | Loving County, Texas |
| RRC district | 08 |
| Lease number | 65040 |
| Wellbores | 3 |
| Reported production | 107,534 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $153.8M |
Where STATE 18-19 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.