GALE 39
GALE 39 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 August 2014 to August 2026, totalling 9,821 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 $10K, with roughly $1K 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 49 thousand cubic feet a month. Its strongest month on the record we hold was November 2021, at 134 thousand cubic feet. 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 GALE 39
- Who operates GALE 39?
- GALE 39 is operated by Marjac Oil Company, Inc., Railroad Commission of Texas operator number 526262.
- Where is GALE 39?
- GALE 39 is a Texas gas lease in Stephens County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 275475.
- Is GALE 39 still producing?
- GALE 39 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for GALE 39 is August 2026.
- How much has GALE 39 produced?
- GALE 39 has reported 9,821 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between August 2014 and August 2026, from 1 wellbore.
- How much is GALE 39 worth?
- The remaining production from GALE 39 is estimated to be worth about $10K in total as of 26 August 2026, within a range of $5K to $14K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in GALE 39 is a fraction of it. The estimate fits an Arps decline curve to the production GALE 39 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for GALE 39 is an estimate of value, not an offer and not an appraisal.
- How much income does GALE 39 generate in a year?
- GALE 39 is forecast to net about $1K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in GALE 39 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Marjac Oil Company, Inc. |
|---|---|
| Field | Iona Hickey (Conglomerate) |
| County | Stephens County, Texas |
| RRC district | 7B |
| Lease number | 275475 |
| Wellbores | 1 |
| Reported production | 9,821 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $10K |
Where GALE 39 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.