PITTS
PITTS is a Texas gas lease in Panola County, Railroad Commission district 06, operated by Preston Exploration LLC. It has 1 wellbore on file with the Commission. Reported production runs from April 2008 to August 2026, totalling 446,932 thousand cubic feet. 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 $69K, with roughly $19K 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 605 thousand cubic feet a month. Its strongest month on the record we hold was July 2016, at 1,291 thousand cubic feet. 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 PITTS
- Who operates PITTS?
- PITTS is operated by Preston Exploration LLC, Railroad Commission of Texas operator number 676133.
- Where is PITTS?
- PITTS is a Texas gas lease in Panola County, Texas, in Railroad Commission district 06. Its Railroad Commission lease number is 235782.
- Is PITTS still producing?
- PITTS is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PITTS is August 2026.
- How much has PITTS produced?
- PITTS has reported 446,932 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between April 2008 and August 2026, from 1 wellbore.
- How much is PITTS worth?
- The remaining production from PITTS is estimated to be worth about $69K in total as of 27 August 2026, within a range of $54K to $85K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PITTS is a fraction of it. The estimate fits an Arps decline curve to the production PITTS has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PITTS is an estimate of value, not an offer and not an appraisal.
- How much income does PITTS generate in a year?
- PITTS is forecast to net about $19K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in PITTS receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Preston Exploration LLC |
|---|---|
| Field | Carthage (Cotton Valley) |
| County | Panola County, Texas |
| RRC district | 06 |
| Lease number | 235782 |
| Wellbores | 1 |
| Reported production | 446,932 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $69K |
Where PITTS 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.