PICO "506"
PICO "506" is a Texas oil lease in Shackelford County, Railroad Commission district 7B, operated by Midville Energy, LLC. It has 1 wellbore on file with the Commission. Reported production runs from June 2010 to August 2026, totalling 72,686 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 $342K, with roughly $66K 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 88 barrels a month. Its strongest month on the record we hold was June 2023, at 576 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 PICO "506"
- Who operates PICO "506"?
- PICO "506" is operated by Midville Energy, LLC., Railroad Commission of Texas operator number 566317.
- Where is PICO "506"?
- PICO "506" is a Texas oil lease in Shackelford County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 30761.
- Is PICO "506" still producing?
- PICO "506" is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PICO "506" is August 2026.
- How much has PICO "506" produced?
- PICO "506" has reported 72,686 barrels of oil (bbl) to the Railroad Commission of Texas between June 2010 and August 2026, from 1 wellbore.
- How much is PICO "506" worth?
- The remaining production from PICO "506" is estimated to be worth about $342K in total as of 27 August 2026, within a range of $188K to $497K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PICO "506" is a fraction of it. The estimate fits an Arps decline curve to the production PICO "506" has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PICO "506" is an estimate of value, not an offer and not an appraisal.
- How much income does PICO "506" generate in a year?
- PICO "506" is forecast to net about $66K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in PICO "506" receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Midville Energy, LLC. |
|---|---|
| Field | Robb (Congl.) |
| County | Shackelford County, Texas |
| RRC district | 7B |
| Lease number | 30761 |
| Wellbores | 1 |
| Reported production | 72,686 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $342K |
Where PICO "506" 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.