CONNELL 38B
CONNELL 38B is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Apache Corporation. It has 1 wellbore on file with the Commission. Reported production runs from June 2016 to August 2026, totalling 354,136 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 $3.9M, with roughly $793K 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 897 barrels a month. Its strongest month on the record we hold was June 2016, at 25,813 barrels. In our own backtest, leases producing at this rate are forecast to within about 22% 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 CONNELL 38B
- Who operates CONNELL 38B?
- CONNELL 38B is operated by Apache Corporation, Railroad Commission of Texas operator number 027200.
- Where is CONNELL 38B?
- CONNELL 38B is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 19296.
- Is CONNELL 38B still producing?
- CONNELL 38B is currently producing. The most recent month of production reported to the Railroad Commission of Texas for CONNELL 38B is August 2026.
- How much has CONNELL 38B produced?
- CONNELL 38B has reported 354,136 barrels of oil (bbl) to the Railroad Commission of Texas between June 2016 and August 2026, from 1 wellbore.
- How much is CONNELL 38B worth?
- The remaining production from CONNELL 38B is estimated to be worth about $3.9M in total as of 26 August 2026, within a range of $3.0M to $4.7M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in CONNELL 38B is a fraction of it. The estimate fits an Arps decline curve to the production CONNELL 38B has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for CONNELL 38B is an estimate of value, not an offer and not an appraisal.
- How much income does CONNELL 38B generate in a year?
- CONNELL 38B is forecast to net about $793K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in CONNELL 38B receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Apache Corporation |
|---|---|
| Field | Spraberry (Trend Area) R 40 Exc |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 19296 |
| Wellbores | 1 |
| Reported production | 354,136 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $3.9M |
Where CONNELL 38B 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.