MCELROY 138
MCELROY 138 is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Apache Corporation. It has 3 wellbores on file with the Commission. Reported production runs from May 2012 to August 2026, totalling 120,967 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 $771K, with roughly $128K 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 148 barrels a month, about 49 per wellbore. Its strongest month on the record we hold was June 2017, at 994 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 MCELROY 138
- Who operates MCELROY 138?
- MCELROY 138 is operated by Apache Corporation, Railroad Commission of Texas operator number 027200.
- Where is MCELROY 138?
- MCELROY 138 is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 17999.
- Is MCELROY 138 still producing?
- MCELROY 138 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MCELROY 138 is August 2026.
- How much has MCELROY 138 produced?
- MCELROY 138 has reported 120,967 barrels of oil (bbl) to the Railroad Commission of Texas between May 2012 and August 2026, from 3 wellbores.
- How much is MCELROY 138 worth?
- The remaining production from MCELROY 138 is estimated to be worth about $771K in total as of 26 August 2026, within a range of $601K to $941K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MCELROY 138 is a fraction of it. The estimate fits an Arps decline curve to the production MCELROY 138 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MCELROY 138 is an estimate of value, not an offer and not an appraisal.
- How much income does MCELROY 138 generate in a year?
- MCELROY 138 is forecast to net about $128K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MCELROY 138 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Apache Corporation |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 17999 |
| Wellbores | 3 |
| Reported production | 120,967 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $771K |
Where MCELROY 138 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.