PRESTON N31L
PRESTON N31L is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Pioneer Natural Res. USA, Inc. It has 1 wellbore on file with the Commission. Reported production runs from January 2019 to August 2026, totalling 265,033 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 $1.8M, with roughly $582K 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 548 barrels a month. Its strongest month on the record we hold was March 2019, at 18,481 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 PRESTON N31L
- Who operates PRESTON N31L?
- PRESTON N31L is operated by Pioneer Natural Res. USA, Inc., Railroad Commission of Texas operator number 665748.
- Where is PRESTON N31L?
- PRESTON N31L is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 51735.
- Is PRESTON N31L still producing?
- PRESTON N31L is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PRESTON N31L is August 2026.
- How much has PRESTON N31L produced?
- PRESTON N31L has reported 265,033 barrels of oil (bbl) to the Railroad Commission of Texas between January 2019 and August 2026, from 1 wellbore.
- How much is PRESTON N31L worth?
- The remaining production from PRESTON N31L is estimated to be worth about $1.8M in total as of 27 August 2026, within a range of $1.4M to $2.2M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PRESTON N31L is a fraction of it. The estimate fits an Arps decline curve to the production PRESTON N31L has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PRESTON N31L is an estimate of value, not an offer and not an appraisal.
- How much income does PRESTON N31L generate in a year?
- PRESTON N31L is forecast to net about $582K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in PRESTON N31L receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Pioneer Natural Res. USA, Inc. |
|---|---|
| Field | Spraberry (Trend Area) R 40 Exc |
| County | Midland County, Texas |
| RRC district | 08 |
| Lease number | 51735 |
| Wellbores | 1 |
| Reported production | 265,033 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.8M |
Where PRESTON N31L 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.