CLEO
CLEO is a Texas oil lease in Smith County, Railroad Commission district 06, operated by Valence Operating Company. It has 1 wellbore on file with the Commission. Reported production runs from September 2023 to August 2026, totalling 166,670 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 $4.4M, with roughly $1.5M 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 2,681 barrels a month. Its strongest month on the record we hold was November 2023, at 13,853 barrels. 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 CLEO
- Who operates CLEO?
- CLEO is operated by Valence Operating Company, Railroad Commission of Texas operator number 881167.
- Where is CLEO?
- CLEO is a Texas oil lease in Smith County, Texas, in Railroad Commission district 06. Its Railroad Commission lease number is 15981.
- Is CLEO still producing?
- CLEO is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CLEO is August 2026.
- How much has CLEO produced?
- CLEO has reported 166,670 barrels of oil (bbl) to the Railroad Commission of Texas between September 2023 and August 2026, from 1 wellbore.
- How much is CLEO worth?
- The remaining production from CLEO is estimated to be worth about $4.4M in total as of 26 August 2026, within a range of $3.7M to $5.2M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CLEO is a fraction of it. The estimate fits an Arps decline curve to the production CLEO has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CLEO is an estimate of value, not an offer and not an appraisal.
- How much income does CLEO generate in a year?
- CLEO is forecast to net about $1.5M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in CLEO receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Valence Operating Company |
|---|---|
| Field | Girlie Caldwell (Goodland LM) |
| County | Smith County, Texas |
| RRC district | 06 |
| Lease number | 15981 |
| Wellbores | 1 |
| Reported production | 166,670 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $4.4M |
Where CLEO 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.