ARA
ARA is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Cardwell Oil Corporation. It has 16 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 70,535 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 $49K, with roughly $10K 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 19 barrels a month, about 1 per wellbore. Its strongest month on the record we hold was February 2018, at 201 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 ARA
- Who operates ARA?
- ARA is operated by Cardwell Oil Corporation, Railroad Commission of Texas operator number 130852.
- Where is ARA?
- ARA is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 09409.
- Is ARA still producing?
- ARA is currently producing. The most recent month of production reported to the Railroad Commission of Texas for ARA is August 2026.
- How much has ARA produced?
- ARA has reported 70,535 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 16 wellbores.
- How much is ARA worth?
- The remaining production from ARA is estimated to be worth about $49K in total as of 26 August 2026, within a range of $27K to $72K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in ARA is a fraction of it. The estimate fits an Arps decline curve to the production ARA has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for ARA is an estimate of value, not an offer and not an appraisal.
- How much income does ARA generate in a year?
- ARA is forecast to net about $10K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in ARA receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Cardwell Oil Corporation |
|---|---|
| Field | Mccamey |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 09409 |
| Wellbores | 16 |
| Reported production | 70,535 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $49K |
Where ARA 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.