MCELROY RANCH "138"
MCELROY RANCH "138" is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Mewbourne Oil Company. It has 1 wellbore on file with the Commission. Reported production runs from December 2008 to August 2026, totalling 20,686 barrels. The lease is shut in. 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 $7K, with roughly $964 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 0 barrels a month. Its strongest month on the record we hold was July 2016, at 80 barrels.
Key facts about MCELROY RANCH "138"
- Who operates MCELROY RANCH "138"?
- MCELROY RANCH "138" is operated by Mewbourne Oil Company, Railroad Commission of Texas operator number 562560.
- Where is MCELROY RANCH "138"?
- MCELROY RANCH "138" is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 16796.
- Is MCELROY RANCH "138" still producing?
- MCELROY RANCH "138" is shut in. The most recent month of production reported to the Railroad Commission of Texas for MCELROY RANCH "138" is August 2026.
- How much has MCELROY RANCH "138" produced?
- MCELROY RANCH "138" has reported 20,686 barrels of oil (bbl) to the Railroad Commission of Texas between December 2008 and August 2026, from 1 wellbore.
- How much is MCELROY RANCH "138" worth?
- The remaining production from MCELROY RANCH "138" is estimated to be worth about $7K in total as of 26 August 2026. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MCELROY RANCH "138" is a fraction of it. The estimate fits an Arps decline curve to the production MCELROY RANCH "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 RANCH "138" is an estimate of value, not an offer and not an appraisal.
- How much income does MCELROY RANCH "138" generate in a year?
- MCELROY RANCH "138" is forecast to net about $964 across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MCELROY RANCH "138" receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Mewbourne Oil Company |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 16796 |
| Wellbores | 1 |
| Reported production | 20,686 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $7K |
Where MCELROY RANCH "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.