STATE GAGE 2/5
STATE GAGE 2/5 is a Texas gas lease in Reeves County, Railroad Commission district 08, operated by Mewbourne Oil Company. It has 1 wellbore on file with the Commission. Reported production runs from October 2024 to August 2026, totalling 1,389,684 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 $390K, with roughly $379K 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 93,067 thousand cubic feet a month. Its strongest month on the record we hold was June 2025, at 217,928 thousand cubic feet. In our own backtest, leases producing at this rate are forecast to within about 18% 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 STATE GAGE 2/5
- Who operates STATE GAGE 2/5?
- STATE GAGE 2/5 is operated by Mewbourne Oil Company, Railroad Commission of Texas operator number 562560.
- Where is STATE GAGE 2/5?
- STATE GAGE 2/5 is a Texas gas lease in Reeves County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 298839.
- Is STATE GAGE 2/5 still producing?
- STATE GAGE 2/5 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for STATE GAGE 2/5 is August 2026.
- How much has STATE GAGE 2/5 produced?
- STATE GAGE 2/5 has reported 1,389,684 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between October 2024 and August 2026, from 1 wellbore.
- How much is STATE GAGE 2/5 worth?
- The remaining production from STATE GAGE 2/5 is estimated to be worth about $390K in total as of 27 August 2026, within a range of $320K to $461K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in STATE GAGE 2/5 is a fraction of it. The estimate fits an Arps decline curve to the production STATE GAGE 2/5 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for STATE GAGE 2/5 is an estimate of value, not an offer and not an appraisal.
- How much income does STATE GAGE 2/5 generate in a year?
- STATE GAGE 2/5 is forecast to net about $379K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in STATE GAGE 2/5 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Mewbourne Oil Company |
|---|---|
| Field | Phantom (Wolfcamp) |
| County | Reeves County, Texas |
| RRC district | 08 |
| Lease number | 298839 |
| Wellbores | 1 |
| Reported production | 1,389,684 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $390K |
Where STATE GAGE 2/5 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.