PRESTON N31N
PRESTON N31N 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 October 2021 to August 2026, totalling 184,135 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 $5.9M, with roughly $1.1M 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 835 barrels a month. Its strongest month on the record we hold was November 2021, at 21,329 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 N31N
- Who operates PRESTON N31N?
- PRESTON N31N is operated by Pioneer Natural Res. USA, Inc., Railroad Commission of Texas operator number 665748.
- Where is PRESTON N31N?
- PRESTON N31N is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 56462.
- Is PRESTON N31N still producing?
- PRESTON N31N is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PRESTON N31N is August 2026.
- How much has PRESTON N31N produced?
- PRESTON N31N has reported 184,135 barrels of oil (bbl) to the Railroad Commission of Texas between October 2021 and August 2026, from 1 wellbore.
- How much is PRESTON N31N worth?
- The remaining production from PRESTON N31N is estimated to be worth about $5.9M in total as of 27 August 2026, within a range of $4.6M to $7.3M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PRESTON N31N is a fraction of it. The estimate fits an Arps decline curve to the production PRESTON N31N has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PRESTON N31N is an estimate of value, not an offer and not an appraisal.
- How much income does PRESTON N31N generate in a year?
- PRESTON N31N is forecast to net about $1.1M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in PRESTON N31N 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) |
| County | Midland County, Texas |
| RRC district | 08 |
| Lease number | 56462 |
| Wellbores | 1 |
| Reported production | 184,135 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $5.9M |
Where PRESTON N31N 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.