WHEAT 1-59 LOV UNIT 2
WHEAT 1-59 LOV UNIT 2 is a Texas oil lease in Loving County, Railroad Commission district 08, operated by Shell Western E&P. It has 3 wellbores on file with the Commission. Reported production runs from August 2013 to August 2026, totalling 734,836 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 $2.3M, with roughly $698K 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 1,080 barrels a month, about 360 per wellbore. Its strongest month on the record we hold was October 2016, at 14,163 barrels. 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 WHEAT 1-59 LOV UNIT 2
- Who operates WHEAT 1-59 LOV UNIT 2?
- WHEAT 1-59 LOV UNIT 2 is operated by Shell Western E&P, Railroad Commission of Texas operator number 774719.
- Where is WHEAT 1-59 LOV UNIT 2?
- WHEAT 1-59 LOV UNIT 2 is a Texas oil lease in Loving County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 45556.
- Is WHEAT 1-59 LOV UNIT 2 still producing?
- WHEAT 1-59 LOV UNIT 2 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for WHEAT 1-59 LOV UNIT 2 is August 2026.
- How much has WHEAT 1-59 LOV UNIT 2 produced?
- WHEAT 1-59 LOV UNIT 2 has reported 734,836 barrels of oil (bbl) to the Railroad Commission of Texas between August 2013 and August 2026, from 3 wellbores.
- How much is WHEAT 1-59 LOV UNIT 2 worth?
- The remaining production from WHEAT 1-59 LOV UNIT 2 is estimated to be worth about $2.3M in total as of 27 August 2026, within a range of $1.9M to $2.7M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in WHEAT 1-59 LOV UNIT 2 is a fraction of it. The estimate fits an Arps decline curve to the production WHEAT 1-59 LOV UNIT 2 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for WHEAT 1-59 LOV UNIT 2 is an estimate of value, not an offer and not an appraisal.
- How much income does WHEAT 1-59 LOV UNIT 2 generate in a year?
- WHEAT 1-59 LOV UNIT 2 is forecast to net about $698K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in WHEAT 1-59 LOV UNIT 2 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Shell Western E&P |
|---|---|
| Field | Phantom (Wolfcamp) |
| County | Loving County, Texas |
| RRC district | 08 |
| Lease number | 45556 |
| Wellbores | 3 |
| Reported production | 734,836 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $2.3M |
Where WHEAT 1-59 LOV UNIT 2 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.