RAY, LEE
RAY, LEE is a Texas gas lease in Stephens County, Railroad Commission district 7B, operated by Safari Resources, LLC. It has 1 wellbore on file with the Commission. Reported production runs from May 2018 to August 2026, totalling 366,119 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 $188K, with roughly $57K 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 2,055 thousand cubic feet a month. Its strongest month on the record we hold was August 2018, at 8,293 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 RAY, LEE
- Who operates RAY, LEE?
- RAY, LEE is operated by Safari Resources, LLC, Railroad Commission of Texas operator number 743194.
- Where is RAY, LEE?
- RAY, LEE is a Texas gas lease in Stephens County, Texas, in Railroad Commission district 7B. Its Railroad Commission lease number is 284395.
- Is RAY, LEE still producing?
- RAY, LEE is currently producing. The most recent month of production reported to the Railroad Commission of Texas for RAY, LEE is August 2026.
- How much has RAY, LEE produced?
- RAY, LEE has reported 366,119 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between May 2018 and August 2026, from 1 wellbore.
- How much is RAY, LEE worth?
- The remaining production from RAY, LEE is estimated to be worth about $188K in total as of 26 August 2026, within a range of $156K to $220K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in RAY, LEE is a fraction of it. The estimate fits an Arps decline curve to the production RAY, LEE has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for RAY, LEE is an estimate of value, not an offer and not an appraisal.
- How much income does RAY, LEE generate in a year?
- RAY, LEE is forecast to net about $57K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in RAY, LEE receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Safari Resources, LLC |
|---|---|
| Field | Lee Ray (Caddo) |
| County | Stephens County, Texas |
| RRC district | 7B |
| Lease number | 284395 |
| Wellbores | 1 |
| Reported production | 366,119 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $188K |
Where RAY, LEE 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.