MARGARET 246 C
MARGARET 246 C is a Texas oil lease in Martin County, Railroad Commission district 08, operated by Diamondback E&P LLC. It has 1 wellbore on file with the Commission. Reported production runs from November 2022 to August 2026, totalling 348,540 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 $6.9M, with roughly $2.1M 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 3,271 barrels a month. Its strongest month on the record we hold was January 2023, at 30,062 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 MARGARET 246 C
- Who operates MARGARET 246 C?
- MARGARET 246 C is operated by Diamondback E&P LLC, Railroad Commission of Texas operator number 217012.
- Where is MARGARET 246 C?
- MARGARET 246 C is a Texas oil lease in Martin County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 59001.
- Is MARGARET 246 C still producing?
- MARGARET 246 C is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MARGARET 246 C is August 2026.
- How much has MARGARET 246 C produced?
- MARGARET 246 C has reported 348,540 barrels of oil (bbl) to the Railroad Commission of Texas between November 2022 and August 2026, from 1 wellbore.
- How much is MARGARET 246 C worth?
- The remaining production from MARGARET 246 C is estimated to be worth about $6.9M in total as of 27 August 2026, within a range of $5.7M to $8.0M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MARGARET 246 C is a fraction of it. The estimate fits an Arps decline curve to the production MARGARET 246 C has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MARGARET 246 C is an estimate of value, not an offer and not an appraisal.
- How much income does MARGARET 246 C generate in a year?
- MARGARET 246 C is forecast to net about $2.1M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in MARGARET 246 C receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Diamondback E&P LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Martin County, Texas |
| RRC district | 08 |
| Lease number | 59001 |
| Wellbores | 1 |
| Reported production | 348,540 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $6.9M |
Where MARGARET 246 C 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.