BUCHANAN
BUCHANAN is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Cox, John L. It has 13 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 587,785 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 $232K, with roughly $124K 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 415 barrels a month, about 32 per wellbore. Its strongest month on the record we hold was April 2026, at 2,412 barrels. In our own backtest, leases producing at this rate are forecast to within about 22% 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 BUCHANAN
- Who operates BUCHANAN?
- BUCHANAN is operated by Cox, John L., Railroad Commission of Texas operator number 185980.
- Where is BUCHANAN?
- BUCHANAN is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 21412.
- Is BUCHANAN still producing?
- BUCHANAN is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BUCHANAN is August 2026.
- How much has BUCHANAN produced?
- BUCHANAN has reported 587,785 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 13 wellbores.
- How much is BUCHANAN worth?
- The remaining production from BUCHANAN is estimated to be worth about $232K in total as of 26 August 2026, within a range of $181K to $283K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BUCHANAN is a fraction of it. The estimate fits an Arps decline curve to the production BUCHANAN has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BUCHANAN is an estimate of value, not an offer and not an appraisal.
- How much income does BUCHANAN generate in a year?
- BUCHANAN is forecast to net about $124K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BUCHANAN receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Cox, John L. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Midland County, Texas |
| RRC district | 08 |
| Lease number | 21412 |
| Wellbores | 13 |
| Reported production | 587,785 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $232K |
Where BUCHANAN 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.