CAGE
CAGE is a Texas oil lease in Maverick County, Railroad Commission district 01, operated by Endeavor Natural Gas, LP. It has 7 wellbores on file with the Commission. Reported production runs from July 2022 to August 2026, totalling 316,474 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 $8.2M, with roughly $2.6M 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 4,429 barrels a month, about 633 per wellbore. Its strongest month on the record we hold was August 2023, at 25,819 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 CAGE
- Who operates CAGE?
- CAGE is operated by Endeavor Natural Gas, LP, Railroad Commission of Texas operator number 251729.
- Where is CAGE?
- CAGE is a Texas oil lease in Maverick County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 20664.
- Is CAGE still producing?
- CAGE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CAGE is August 2026.
- How much has CAGE produced?
- CAGE has reported 316,474 barrels of oil (bbl) to the Railroad Commission of Texas between July 2022 and August 2026, from 7 wellbores.
- How much is CAGE worth?
- The remaining production from CAGE is estimated to be worth about $8.2M in total as of 26 August 2026, within a range of $6.8M to $9.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CAGE is a fraction of it. The estimate fits an Arps decline curve to the production CAGE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CAGE is an estimate of value, not an offer and not an appraisal.
- How much income does CAGE generate in a year?
- CAGE is forecast to net about $2.6M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in CAGE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Endeavor Natural Gas, LP |
|---|---|
| Field | Hugh Fitzsimmons (San Miguel) |
| County | Maverick County, Texas |
| RRC district | 01 |
| Lease number | 20664 |
| Wellbores | 7 |
| Reported production | 316,474 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $8.2M |
Where CAGE 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.