COBRA
COBRA is a Texas oil lease in Mcmullen County, Railroad Commission district 01, operated by Abraxas Petroleum Corporation. It has 3 wellbores on file with the Commission. Reported production runs from March 2012 to August 2026, totalling 487,133 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 $1.4M, with roughly $1.0M 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 3,411 barrels a month, about 1,137 per wellbore. Its strongest month on the record we hold was November 2024, at 12,148 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 COBRA
- Who operates COBRA?
- COBRA is operated by Abraxas Petroleum Corporation, Railroad Commission of Texas operator number 003125.
- Where is COBRA?
- COBRA is a Texas oil lease in Mcmullen County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 15782.
- Is COBRA still producing?
- COBRA is currently producing. The most recent month of production reported to the Railroad Commission of Texas for COBRA is August 2026.
- How much has COBRA produced?
- COBRA has reported 487,133 barrels of oil (bbl) to the Railroad Commission of Texas between March 2012 and August 2026, from 3 wellbores.
- How much is COBRA worth?
- The remaining production from COBRA is estimated to be worth about $1.4M in total as of 26 August 2026, within a range of $1.1M to $1.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in COBRA is a fraction of it. The estimate fits an Arps decline curve to the production COBRA has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for COBRA is an estimate of value, not an offer and not an appraisal.
- How much income does COBRA generate in a year?
- COBRA is forecast to net about $1.0M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in COBRA receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Abraxas Petroleum Corporation |
|---|---|
| Field | Eagleville (Eagle Ford-1) |
| County | Mcmullen County, Texas |
| RRC district | 01 |
| Lease number | 15782 |
| Wellbores | 3 |
| Reported production | 487,133 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.4M |
Where COBRA 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.