NEAL 39A
NEAL 39A is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Encana Oil & Gas(USA) Inc. It has 6 wellbores on file with the Commission. Reported production runs from September 2019 to August 2026, totalling 2,025,646 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 $21.2M, with roughly $5.5M 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 7,896 barrels a month, about 1,316 per wellbore. Its strongest month on the record we hold was March 2020, at 135,901 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 NEAL 39A
- Who operates NEAL 39A?
- NEAL 39A is operated by Encana Oil & Gas(USA) Inc., Railroad Commission of Texas operator number 251691.
- Where is NEAL 39A?
- NEAL 39A is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 20469.
- Is NEAL 39A still producing?
- NEAL 39A is currently producing. The most recent month of production reported to the Railroad Commission of Texas for NEAL 39A is August 2026.
- How much has NEAL 39A produced?
- NEAL 39A has reported 2,025,646 barrels of oil (bbl) to the Railroad Commission of Texas between September 2019 and August 2026, from 6 wellbores.
- How much is NEAL 39A worth?
- The remaining production from NEAL 39A is estimated to be worth about $21.2M in total as of 27 August 2026, within a range of $17.6M to $24.8M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in NEAL 39A is a fraction of it. The estimate fits an Arps decline curve to the production NEAL 39A has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for NEAL 39A is an estimate of value, not an offer and not an appraisal.
- How much income does NEAL 39A generate in a year?
- NEAL 39A is forecast to net about $5.5M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in NEAL 39A receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Encana Oil & Gas(USA) Inc. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 20469 |
| Wellbores | 6 |
| Reported production | 2,025,646 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $21.2M |
Where NEAL 39A 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.