PILGRIM
PILGRIM is a Texas oil lease in Stephens County, Railroad Commission district 7B, operated by Ray Herring Operating Co., LLC. It has 1 wellbore on file with the Commission. Reported production runs from February 2016 to August 2026, totalling 4,882 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 $152K, with roughly $29K 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 38 barrels a month. Its strongest month on the record we hold was November 2021, at 160 barrels. 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 PILGRIM
- Who operates PILGRIM?
- PILGRIM is operated by Ray Herring Operating Co., LLC, Railroad Commission of Texas operator number 695232.
- Where is PILGRIM?
- PILGRIM is a Texas oil lease in Stephens County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 31953.
- Is PILGRIM still producing?
- PILGRIM is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PILGRIM is August 2026.
- How much has PILGRIM produced?
- PILGRIM has reported 4,882 barrels of oil (bbl) to the Railroad Commission of Texas between February 2016 and August 2026, from 1 wellbore.
- How much is PILGRIM worth?
- The remaining production from PILGRIM is estimated to be worth about $152K in total as of 26 August 2026, within a range of $84K to $221K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PILGRIM is a fraction of it. The estimate fits an Arps decline curve to the production PILGRIM has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PILGRIM is an estimate of value, not an offer and not an appraisal.
- How much income does PILGRIM generate in a year?
- PILGRIM is forecast to net about $29K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in PILGRIM receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Ray Herring Operating Co., LLC |
|---|---|
| Field | Stephens County Regular |
| County | Stephens County, Texas |
| RRC district | 7B |
| Lease number | 31953 |
| Wellbores | 1 |
| Reported production | 4,882 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $152K |
Where PILGRIM 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.