GRIDIRON JV
GRIDIRON JV is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Diamondback E&P LLC. It has 1 wellbore on file with the Commission. Reported production runs from January 2018 to August 2026, totalling 313,045 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 $2.5M, with roughly $808K 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 902 barrels a month. Its strongest month on the record we hold was February 2018, at 17,320 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 GRIDIRON JV
- Who operates GRIDIRON JV?
- GRIDIRON JV is operated by Diamondback E&P LLC, Railroad Commission of Texas operator number 217012.
- Where is GRIDIRON JV?
- GRIDIRON JV is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 52154.
- Is GRIDIRON JV still producing?
- GRIDIRON JV is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GRIDIRON JV is August 2026.
- How much has GRIDIRON JV produced?
- GRIDIRON JV has reported 313,045 barrels of oil (bbl) to the Railroad Commission of Texas between January 2018 and August 2026, from 1 wellbore.
- How much is GRIDIRON JV worth?
- The remaining production from GRIDIRON JV is estimated to be worth about $2.5M in total as of 27 August 2026, within a range of $1.9M to $3.0M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GRIDIRON JV is a fraction of it. The estimate fits an Arps decline curve to the production GRIDIRON JV has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GRIDIRON JV is an estimate of value, not an offer and not an appraisal.
- How much income does GRIDIRON JV generate in a year?
- GRIDIRON JV is forecast to net about $808K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in GRIDIRON JV 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 | 52154 |
| Wellbores | 1 |
| Reported production | 313,045 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $2.5M |
Where GRIDIRON JV 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.