LETHA
LETHA is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Bustamante Resources LLC. It has 2 wellbores on file with the Commission. Reported production runs from August 2022 to August 2026, totalling 2,752 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 $452K, with roughly $87K 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 127 barrels a month, about 64 per wellbore. Its strongest month on the record we hold was May 2024, at 285 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 LETHA
- Who operates LETHA?
- LETHA is operated by Bustamante Resources LLC, Railroad Commission of Texas operator number 112682.
- Where is LETHA?
- LETHA is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 57423.
- Is LETHA still producing?
- LETHA is currently producing. The most recent month of production reported to the Railroad Commission of Texas for LETHA is August 2026.
- How much has LETHA produced?
- LETHA has reported 2,752 barrels of oil (bbl) to the Railroad Commission of Texas between August 2022 and August 2026, from 2 wellbores.
- How much is LETHA worth?
- The remaining production from LETHA is estimated to be worth about $452K in total as of 26 August 2026, within a range of $353K to $551K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in LETHA is a fraction of it. The estimate fits an Arps decline curve to the production LETHA has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for LETHA is an estimate of value, not an offer and not an appraisal.
- How much income does LETHA generate in a year?
- LETHA is forecast to net about $87K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in LETHA receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Bustamante Resources LLC |
|---|---|
| Field | Brazos (San Andres) |
| County | Midland County, Texas |
| RRC district | 08 |
| Lease number | 57423 |
| Wellbores | 2 |
| Reported production | 2,752 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $452K |
Where LETHA 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.