NEAL 39C
NEAL 39C is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Ovintiv USA Inc. It has 4 wellbores on file with the Commission. Reported production runs from January 2020 to August 2026, totalling 1,213,119 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 $14.3M, with roughly $3.5M 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 4,785 barrels a month, about 1,196 per wellbore. Its strongest month on the record we hold was March 2020, at 99,540 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 39C
- Who operates NEAL 39C?
- NEAL 39C is operated by Ovintiv USA Inc., Railroad Commission of Texas operator number 628658.
- Where is NEAL 39C?
- NEAL 39C is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 20913.
- Is NEAL 39C still producing?
- NEAL 39C is currently producing. The most recent month of production reported to the Railroad Commission of Texas for NEAL 39C is August 2026.
- How much has NEAL 39C produced?
- NEAL 39C has reported 1,213,119 barrels of oil (bbl) to the Railroad Commission of Texas between January 2020 and August 2026, from 4 wellbores.
- How much is NEAL 39C worth?
- The remaining production from NEAL 39C is estimated to be worth about $14.3M in total as of 27 August 2026, within a range of $11.9M to $16.7M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in NEAL 39C is a fraction of it. The estimate fits an Arps decline curve to the production NEAL 39C has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for NEAL 39C is an estimate of value, not an offer and not an appraisal.
- How much income does NEAL 39C generate in a year?
- NEAL 39C is forecast to net about $3.5M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in NEAL 39C receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Ovintiv USA Inc. |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 20913 |
| Wellbores | 4 |
| Reported production | 1,213,119 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $14.3M |
Where NEAL 39C 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.