SAPPHIRE STATE C20-12
SAPPHIRE STATE C20-12 is a Texas gas lease in Reeves County, Railroad Commission district 08, operated by Cimarex Energy Co. It has 1 wellbore on file with the Commission. Reported production runs from July 2014 to August 2026, totalling 1,582,432 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 $1.1M, with roughly $438K 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 2,152 thousand cubic feet a month. Its strongest month on the record we hold was May 2016, at 21,512 thousand cubic feet. In our own backtest, leases producing at this rate are forecast to within about 17% 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 SAPPHIRE STATE C20-12
- Who operates SAPPHIRE STATE C20-12?
- SAPPHIRE STATE C20-12 is operated by Cimarex Energy Co., Railroad Commission of Texas operator number 153438.
- Where is SAPPHIRE STATE C20-12?
- SAPPHIRE STATE C20-12 is a Texas gas lease in Reeves County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 283197.
- Is SAPPHIRE STATE C20-12 still producing?
- SAPPHIRE STATE C20-12 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for SAPPHIRE STATE C20-12 is August 2026.
- How much has SAPPHIRE STATE C20-12 produced?
- SAPPHIRE STATE C20-12 has reported 1,582,432 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between July 2014 and August 2026, from 1 wellbore.
- How much is SAPPHIRE STATE C20-12 worth?
- The remaining production from SAPPHIRE STATE C20-12 is estimated to be worth about $1.1M in total as of 27 August 2026, within a range of $875K to $1.2M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in SAPPHIRE STATE C20-12 is a fraction of it. The estimate fits an Arps decline curve to the production SAPPHIRE STATE C20-12 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for SAPPHIRE STATE C20-12 is an estimate of value, not an offer and not an appraisal.
- How much income does SAPPHIRE STATE C20-12 generate in a year?
- SAPPHIRE STATE C20-12 is forecast to net about $438K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in SAPPHIRE STATE C20-12 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Cimarex Energy Co. |
|---|---|
| Field | Phantom (Wolfcamp) |
| County | Reeves County, Texas |
| RRC district | 08 |
| Lease number | 283197 |
| Wellbores | 1 |
| Reported production | 1,582,432 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.1M |
Where SAPPHIRE STATE C20-12 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.