BILLINGS UNIT
BILLINGS UNIT is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Diamondback E&P LLC. It has 5 wellbores on file with the Commission. Reported production runs from July 2020 to August 2026, totalling 1,377,357 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 $11.0M, with roughly $5.1M 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 8,343 barrels a month, about 1,669 per wellbore. Its strongest month on the record we hold was May 2022, at 162,249 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 BILLINGS UNIT
- Who operates BILLINGS UNIT?
- BILLINGS UNIT is operated by Diamondback E&P LLC, Railroad Commission of Texas operator number 217012.
- Where is BILLINGS UNIT?
- BILLINGS UNIT is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 55224.
- Is BILLINGS UNIT still producing?
- BILLINGS UNIT is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BILLINGS UNIT is August 2026.
- How much has BILLINGS UNIT produced?
- BILLINGS UNIT has reported 1,377,357 barrels of oil (bbl) to the Railroad Commission of Texas between July 2020 and August 2026, from 5 wellbores.
- How much is BILLINGS UNIT worth?
- The remaining production from BILLINGS UNIT is estimated to be worth about $11.0M in total as of 26 August 2026, within a range of $9.1M to $12.8M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BILLINGS UNIT is a fraction of it. The estimate fits an Arps decline curve to the production BILLINGS UNIT has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BILLINGS UNIT is an estimate of value, not an offer and not an appraisal.
- How much income does BILLINGS UNIT generate in a year?
- BILLINGS UNIT is forecast to net about $5.1M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BILLINGS UNIT 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 | Midland County, Texas |
| RRC district | 08 |
| Lease number | 55224 |
| Wellbores | 5 |
| Reported production | 1,377,357 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $11.0M |
Where BILLINGS UNIT 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.