CITIES STATE "20"
CITIES STATE "20" is a Texas oil lease in Reagan County, Railroad Commission district 7C, operated by Sage Energy Company. It has 1 wellbore on file with the Commission. Reported production runs from October 1998 to August 2026, totalling 13,840 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 $67K, with roughly $13K 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 12 barrels a month. Its strongest month on the record we hold was December 2019, at 61 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 CITIES STATE "20"
- Who operates CITIES STATE "20"?
- CITIES STATE "20" is operated by Sage Energy Company, Railroad Commission of Texas operator number 743215.
- Where is CITIES STATE "20"?
- CITIES STATE "20" is a Texas oil lease in Reagan County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 14841.
- Is CITIES STATE "20" still producing?
- CITIES STATE "20" is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CITIES STATE "20" is August 2026.
- How much has CITIES STATE "20" produced?
- CITIES STATE "20" has reported 13,840 barrels of oil (bbl) to the Railroad Commission of Texas between October 1998 and August 2026, from 1 wellbore.
- How much is CITIES STATE "20" worth?
- The remaining production from CITIES STATE "20" is estimated to be worth about $67K in total as of 27 August 2026, within a range of $37K to $98K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CITIES STATE "20" is a fraction of it. The estimate fits an Arps decline curve to the production CITIES STATE "20" has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CITIES STATE "20" is an estimate of value, not an offer and not an appraisal.
- How much income does CITIES STATE "20" generate in a year?
- CITIES STATE "20" is forecast to net about $13K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in CITIES STATE "20" receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Sage Energy Company |
|---|---|
| Field | Farmer (San Andres) |
| County | Reagan County, Texas |
| RRC district | 7C |
| Lease number | 14841 |
| Wellbores | 1 |
| Reported production | 13,840 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $67K |
Where CITIES STATE "20" 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.