WINDHAM 38
WINDHAM 38 is a Texas oil lease in Midland County, Railroad Commission district 08, operated by Discovery Operating, Inc. It has 12 wellbores on file with the Commission. Reported production runs from November 2000 to August 2026, totalling 402,787 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 $546K 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 827 barrels a month, about 69 per wellbore. Its strongest month on the record we hold was May 2016, at 2,061 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 WINDHAM 38
- Who operates WINDHAM 38?
- WINDHAM 38 is operated by Discovery Operating, Inc., Railroad Commission of Texas operator number 220865.
- Where is WINDHAM 38?
- WINDHAM 38 is a Texas oil lease in Midland County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 36457.
- Is WINDHAM 38 still producing?
- WINDHAM 38 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for WINDHAM 38 is August 2026.
- How much has WINDHAM 38 produced?
- WINDHAM 38 has reported 402,787 barrels of oil (bbl) to the Railroad Commission of Texas between November 2000 and August 2026, from 12 wellbores.
- How much is WINDHAM 38 worth?
- The remaining production from WINDHAM 38 is estimated to be worth about $2.5M in total as of 26 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 WINDHAM 38 is a fraction of it. The estimate fits an Arps decline curve to the production WINDHAM 38 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for WINDHAM 38 is an estimate of value, not an offer and not an appraisal.
- How much income does WINDHAM 38 generate in a year?
- WINDHAM 38 is forecast to net about $546K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in WINDHAM 38 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Discovery Operating, Inc. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Midland County, Texas |
| RRC district | 08 |
| Lease number | 36457 |
| Wellbores | 12 |
| Reported production | 402,787 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $2.5M |
Where WINDHAM 38 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.