COBRA STATE 2
COBRA STATE 2 is a Texas oil lease in Reeves County, Railroad Commission district 08, operated by Pri Operating, LLC. It has 1 wellbore on file with the Commission. Reported production runs from November 2017 to August 2026, totalling 179,043 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 $1.5M, with roughly $424K 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 579 barrels a month. Its strongest month on the record we hold was December 2017, at 14,521 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 COBRA STATE 2
- Who operates COBRA STATE 2?
- COBRA STATE 2 is operated by Pri Operating, LLC, Railroad Commission of Texas operator number 676550.
- Where is COBRA STATE 2?
- COBRA STATE 2 is a Texas oil lease in Reeves County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 49735.
- Is COBRA STATE 2 still producing?
- COBRA STATE 2 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for COBRA STATE 2 is August 2026.
- How much has COBRA STATE 2 produced?
- COBRA STATE 2 has reported 179,043 barrels of oil (bbl) to the Railroad Commission of Texas between November 2017 and August 2026, from 1 wellbore.
- How much is COBRA STATE 2 worth?
- The remaining production from COBRA STATE 2 is estimated to be worth about $1.5M in total as of 27 August 2026, within a range of $1.2M to $1.8M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in COBRA STATE 2 is a fraction of it. The estimate fits an Arps decline curve to the production COBRA STATE 2 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for COBRA STATE 2 is an estimate of value, not an offer and not an appraisal.
- How much income does COBRA STATE 2 generate in a year?
- COBRA STATE 2 is forecast to net about $424K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in COBRA STATE 2 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Pri Operating, LLC |
|---|---|
| Field | Wolfbone (Trend Area) |
| County | Reeves County, Texas |
| RRC district | 08 |
| Lease number | 49735 |
| Wellbores | 1 |
| Reported production | 179,043 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.5M |
Where COBRA STATE 2 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.