MORGAN
MORGAN is a Texas gas lease in Stephens County, Railroad Commission district 7B, operated by Mehaffey Investments, Inc. It has 1 wellbore on file with the Commission. Reported production runs from September 2003 to August 2026, totalling 17,975 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 48 thousand cubic feet a month. Its strongest month on the record we hold was September 2017, at 95 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 MORGAN
- Who operates MORGAN?
- MORGAN is operated by Mehaffey Investments, Inc., Railroad Commission of Texas operator number 559355.
- Where is MORGAN?
- MORGAN is a Texas gas lease in Stephens County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 198307.
- Is MORGAN still producing?
- MORGAN is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MORGAN is August 2026.
- How much has MORGAN produced?
- MORGAN has reported 17,975 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between September 2003 and August 2026, from 1 wellbore.
- How much is MORGAN worth?
- The remaining production from MORGAN is estimated to be worth about $10K in total as of 27 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 MORGAN is a fraction of it. The estimate fits an Arps decline curve to the production MORGAN has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MORGAN is an estimate of value, not an offer and not an appraisal.
- How much income does MORGAN generate in a year?
- MORGAN is forecast to net about $1K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in MORGAN receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Mehaffey Investments, Inc. |
|---|---|
| Field | Stephens County Regular |
| County | Stephens County, Texas |
| RRC district | 7B |
| Lease number | 198307 |
| Wellbores | 1 |
| Reported production | 17,975 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $10K |
Where MORGAN 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.