NEAL '39B'
NEAL '39B' is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by JM Cox Resources, L.P. It has 4 wellbores on file with the Commission. Reported production runs from June 2012 to August 2026, totalling 184,774 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 $3.2M, with roughly $646K 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 684 barrels a month, about 171 per wellbore. Its strongest month on the record we hold was May 2022, at 2,098 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 NEAL '39B'
- Who operates NEAL '39B'?
- NEAL '39B' is operated by JM Cox Resources, L.P., Railroad Commission of Texas operator number 433075.
- Where is NEAL '39B'?
- NEAL '39B' is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 17976.
- Is NEAL '39B' still producing?
- NEAL '39B' is currently producing. The most recent month of production reported to the Railroad Commission of Texas for NEAL '39B' is August 2026.
- How much has NEAL '39B' produced?
- NEAL '39B' has reported 184,774 barrels of oil (bbl) to the Railroad Commission of Texas between June 2012 and August 2026, from 4 wellbores.
- How much is NEAL '39B' worth?
- The remaining production from NEAL '39B' is estimated to be worth about $3.2M in total as of 26 August 2026, within a range of $2.5M to $3.9M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in NEAL '39B' is a fraction of it. The estimate fits an Arps decline curve to the production NEAL '39B' has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for NEAL '39B' is an estimate of value, not an offer and not an appraisal.
- How much income does NEAL '39B' generate in a year?
- NEAL '39B' is forecast to net about $646K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in NEAL '39B' receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | JM Cox Resources, L.P. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 17976 |
| Wellbores | 4 |
| Reported production | 184,774 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $3.2M |
Where NEAL '39B' 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.