REED-STATE
REED-STATE is a Texas oil lease in Pecos County, Railroad Commission district 08, operated by Drake Oil Co. It has 9 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 42,966 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 $754K, with roughly $185K 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 257 barrels a month, about 29 per wellbore. Its strongest month on the record we hold was July 2025, at 354 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 REED-STATE
- Who operates REED-STATE?
- REED-STATE is operated by Drake Oil Co., Railroad Commission of Texas operator number 227874.
- Where is REED-STATE?
- REED-STATE is a Texas oil lease in Pecos County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 06798.
- Is REED-STATE still producing?
- REED-STATE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for REED-STATE is August 2026.
- How much has REED-STATE produced?
- REED-STATE has reported 42,966 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 9 wellbores.
- How much is REED-STATE worth?
- The remaining production from REED-STATE is estimated to be worth about $754K in total as of 26 August 2026, within a range of $588K to $920K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in REED-STATE is a fraction of it. The estimate fits an Arps decline curve to the production REED-STATE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for REED-STATE is an estimate of value, not an offer and not an appraisal.
- How much income does REED-STATE generate in a year?
- REED-STATE is forecast to net about $185K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in REED-STATE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Drake Oil Co. |
|---|---|
| Field | Toborg |
| County | Pecos County, Texas |
| RRC district | 08 |
| Lease number | 06798 |
| Wellbores | 9 |
| Reported production | 42,966 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $754K |
Where REED-STATE 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.