BLACK
BLACK is a Texas oil lease in Stephens County, Railroad Commission district 7B, operated by Delta Oil & Gas Company. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 74,510 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 $38K, with roughly $7K 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 10 barrels a month. Its strongest month on the record we hold was December 2017, at 235 barrels. In our own backtest, leases producing at this rate are forecast to within about 100% 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
- Who operates BLACK?
- BLACK is operated by Delta Oil & Gas Company, Railroad Commission of Texas operator number 213700.
- Where is BLACK?
- BLACK is a Texas oil lease in Stephens County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 25201.
- Is BLACK still producing?
- BLACK is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BLACK is August 2026.
- How much has BLACK produced?
- BLACK has reported 74,510 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is BLACK worth?
- The remaining production from BLACK is estimated to be worth about $38K in total as of 26 August 2026, within a range of $0 to $75K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BLACK is a fraction of it. The estimate fits an Arps decline curve to the production BLACK has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BLACK is an estimate of value, not an offer and not an appraisal.
- How much income does BLACK generate in a year?
- BLACK is forecast to net about $7K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BLACK receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Delta Oil & Gas Company |
|---|---|
| Field | Stephens County Regular |
| County | Stephens County, Texas |
| RRC district | 7B |
| Lease number | 25201 |
| Wellbores | 1 |
| Reported production | 74,510 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $38K |
Where BLACK 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.