BLACK 23
BLACK 23 is a Texas gas lease in Stephens County, Railroad Commission district 7B, operated by Marjac Oil Company, Inc. It has 1 wellbore on file with the Commission. Reported production runs from June 2011 to August 2026, totalling 596,073 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 $532K, with roughly $83K 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 3,200 thousand cubic feet a month. Its strongest month on the record we hold was October 2024, at 4,464 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 BLACK 23
- Who operates BLACK 23?
- BLACK 23 is operated by Marjac Oil Company, Inc., Railroad Commission of Texas operator number 526262.
- Where is BLACK 23?
- BLACK 23 is a Texas gas lease in Stephens County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 260690.
- Is BLACK 23 still producing?
- BLACK 23 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BLACK 23 is August 2026.
- How much has BLACK 23 produced?
- BLACK 23 has reported 596,073 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between June 2011 and August 2026, from 1 wellbore.
- How much is BLACK 23 worth?
- The remaining production from BLACK 23 is estimated to be worth about $532K in total as of 26 August 2026, within a range of $442K to $623K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BLACK 23 is a fraction of it. The estimate fits an Arps decline curve to the production BLACK 23 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BLACK 23 is an estimate of value, not an offer and not an appraisal.
- How much income does BLACK 23 generate in a year?
- BLACK 23 is forecast to net about $83K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BLACK 23 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Marjac Oil Company, Inc. |
|---|---|
| Field | Buffalo Hill (Congl.) |
| County | Stephens County, Texas |
| RRC district | 7B |
| Lease number | 260690 |
| Wellbores | 1 |
| Reported production | 596,073 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $532K |
Where BLACK 23 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.