BATES, R. M.
BATES, R. M. is a Texas oil lease in Milam County, Railroad Commission district 01, operated by Navarro Exploration Co., Inc. It has 24 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 10,429 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 $62K, with roughly $12K 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 18 barrels a month, about 1 per wellbore. Its strongest month on the record we hold was December 2022, at 51 barrels. In our own backtest, leases producing at this rate are forecast to within about 45% 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 BATES, R. M.
- Who operates BATES, R. M.?
- BATES, R. M. is operated by Navarro Exploration Co., Inc., Railroad Commission of Texas operator number 601103.
- Where is BATES, R. M.?
- BATES, R. M. is a Texas oil lease in Milam County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 06124.
- Is BATES, R. M. still producing?
- BATES, R. M. is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BATES, R. M. is August 2026.
- How much has BATES, R. M. produced?
- BATES, R. M. has reported 10,429 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 24 wellbores.
- How much is BATES, R. M. worth?
- The remaining production from BATES, R. M. is estimated to be worth about $62K in total as of 26 August 2026, within a range of $34K to $90K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BATES, R. M. is a fraction of it. The estimate fits an Arps decline curve to the production BATES, R. M. has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BATES, R. M. is an estimate of value, not an offer and not an appraisal.
- How much income does BATES, R. M. generate in a year?
- BATES, R. M. is forecast to net about $12K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BATES, R. M. receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Navarro Exploration Co., Inc. |
|---|---|
| Field | Minerva-Rockdale |
| County | Milam County, Texas |
| RRC district | 01 |
| Lease number | 06124 |
| Wellbores | 24 |
| Reported production | 10,429 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $62K |
Where BATES, R. M. 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.