COBIA
COBIA is a Texas oil lease in Madison County, Railroad Commission district 05, operated by Wildfire Energy Operating LLC. It has 1 wellbore on file with the Commission. Reported production runs from June 2025 to August 2026, totalling 125,259 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 $5.4M, with roughly $3.8M 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 10,640 barrels a month. Its strongest month on the record we hold was September 2025, at 24,796 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 COBIA
- Who operates COBIA?
- COBIA is operated by Wildfire Energy Operating LLC, Railroad Commission of Texas operator number 923444.
- Where is COBIA?
- COBIA is a Texas oil lease in Madison County, Texas, in Railroad Commission district 05. Its Railroad Commission lease number is 04492.
- Is COBIA still producing?
- COBIA is currently producing. The most recent month of production reported to the Railroad Commission of Texas for COBIA is August 2026.
- How much has COBIA produced?
- COBIA has reported 125,259 barrels of oil (bbl) to the Railroad Commission of Texas between June 2025 and August 2026, from 1 wellbore.
- How much is COBIA worth?
- The remaining production from COBIA is estimated to be worth about $5.4M in total as of 26 August 2026, within a range of $4.5M to $6.4M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in COBIA is a fraction of it. The estimate fits an Arps decline curve to the production COBIA has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for COBIA is an estimate of value, not an offer and not an appraisal.
- How much income does COBIA generate in a year?
- COBIA is forecast to net about $3.8M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in COBIA receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Wildfire Energy Operating LLC |
|---|---|
| Field | Aguila Vado (Eagleford) |
| County | Madison County, Texas |
| RRC district | 05 |
| Lease number | 04492 |
| Wellbores | 1 |
| Reported production | 125,259 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $5.4M |
Where COBIA 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.