LILA 40
LILA 40 is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Summit Petroleum LLC. It has 1 wellbore on file with the Commission. Reported production runs from April 2022 to August 2026, totalling 269,851 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 $12.9M, with roughly $2.6M 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 3,353 barrels a month. Its strongest month on the record we hold was September 2022, at 37,583 barrels. 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 LILA 40
- Who operates LILA 40?
- LILA 40 is operated by Summit Petroleum LLC, Railroad Commission of Texas operator number 829221.
- Where is LILA 40?
- LILA 40 is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 21671.
- Is LILA 40 still producing?
- LILA 40 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for LILA 40 is August 2026.
- How much has LILA 40 produced?
- LILA 40 has reported 269,851 barrels of oil (bbl) to the Railroad Commission of Texas between April 2022 and August 2026, from 1 wellbore.
- How much is LILA 40 worth?
- The remaining production from LILA 40 is estimated to be worth about $12.9M in total as of 26 August 2026, within a range of $10.7M to $15.0M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in LILA 40 is a fraction of it. The estimate fits an Arps decline curve to the production LILA 40 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for LILA 40 is an estimate of value, not an offer and not an appraisal.
- How much income does LILA 40 generate in a year?
- LILA 40 is forecast to net about $2.6M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in LILA 40 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Summit Petroleum LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 21671 |
| Wellbores | 1 |
| Reported production | 269,851 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $12.9M |
Where LILA 40 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.