WAFFLE IRON
WAFFLE IRON is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Permian Deep Rock Oil Co., LLC. It has 18 wellbores on file with the Commission. Reported production runs from May 2017 to August 2026, totalling 3,931,042 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 $31.2M, with roughly $6.4M 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 7,021 barrels a month, about 390 per wellbore. Its strongest month on the record we hold was July 2019, at 125,464 barrels. In our own backtest, leases producing at this rate are forecast to within about 17% 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 WAFFLE IRON
- Who operates WAFFLE IRON?
- WAFFLE IRON is operated by Permian Deep Rock Oil Co., LLC, Railroad Commission of Texas operator number 655805.
- Where is WAFFLE IRON?
- WAFFLE IRON is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 48846.
- Is WAFFLE IRON still producing?
- WAFFLE IRON is currently producing. The most recent month of production reported to the Railroad Commission of Texas for WAFFLE IRON is August 2026.
- How much has WAFFLE IRON produced?
- WAFFLE IRON has reported 3,931,042 barrels of oil (bbl) to the Railroad Commission of Texas between May 2017 and August 2026, from 18 wellbores.
- How much is WAFFLE IRON worth?
- The remaining production from WAFFLE IRON is estimated to be worth about $31.2M in total as of 26 August 2026, within a range of $25.9M to $36.6M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in WAFFLE IRON is a fraction of it. The estimate fits an Arps decline curve to the production WAFFLE IRON has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for WAFFLE IRON is an estimate of value, not an offer and not an appraisal.
- How much income does WAFFLE IRON generate in a year?
- WAFFLE IRON is forecast to net about $6.4M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in WAFFLE IRON receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Permian Deep Rock Oil Co., LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Midland County, Texas |
| RRC district | 08 |
| Lease number | 48846 |
| Wellbores | 18 |
| Reported production | 3,931,042 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $31.2M |
Where WAFFLE IRON 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.