SMU
SMU 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 April 2017 to August 2026, totalling 167,680 barrels. The lease is intermittent. 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 $765K, with roughly $566K 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 168 barrels a month. Its strongest month on the record we hold was October 2018, at 10,116 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 SMU
- Who operates SMU?
- SMU is operated by Valence Operating Company, Railroad Commission of Texas operator number 881167.
- Where is SMU?
- SMU is a Texas oil lease in Smith County, Texas, in Railroad Commission district 06. Its Railroad Commission lease number is 15528.
- Is SMU still producing?
- SMU is intermittent. The most recent month of production reported to the Railroad Commission of Texas for SMU is August 2026.
- How much has SMU produced?
- SMU has reported 167,680 barrels of oil (bbl) to the Railroad Commission of Texas between April 2017 and August 2026, from 1 wellbore.
- How much is SMU worth?
- The remaining production from SMU is estimated to be worth about $765K in total as of 26 August 2026, within a range of $597K to $933K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in SMU is a fraction of it. The estimate fits an Arps decline curve to the production SMU has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for SMU is an estimate of value, not an offer and not an appraisal.
- How much income does SMU generate in a year?
- SMU is forecast to net about $566K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in SMU 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 | 15528 |
| Wellbores | 1 |
| Reported production | 167,680 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $765K |
Where SMU 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.