NEAL
NEAL is a Texas oil lease in Upton County, Railroad Commission district 7C, operated by Midenergy Operating, LLC. It has 10 wellbores on file with the Commission. Reported production runs from May 2011 to August 2026, totalling 306,008 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 $1.1M, with roughly $235K 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 413 barrels a month, about 41 per wellbore. Its strongest month on the record we hold was March 2017, at 2,881 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
- Who operates NEAL?
- NEAL is operated by Midenergy Operating, LLC, Railroad Commission of Texas operator number 565067.
- Where is NEAL?
- NEAL is a Texas oil lease in Upton County, Texas, in Railroad Commission district 7C. Its Railroad Commission lease number is 17478.
- Is NEAL still producing?
- NEAL is currently producing. The most recent month of production reported to the Railroad Commission of Texas for NEAL is August 2026.
- How much has NEAL produced?
- NEAL has reported 306,008 barrels of oil (bbl) to the Railroad Commission of Texas between May 2011 and August 2026, from 10 wellbores.
- How much is NEAL worth?
- The remaining production from NEAL is estimated to be worth about $1.1M in total as of 26 August 2026, within a range of $820K to $1.3M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in NEAL is a fraction of it. The estimate fits an Arps decline curve to the production NEAL has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for NEAL is an estimate of value, not an offer and not an appraisal.
- How much income does NEAL generate in a year?
- NEAL is forecast to net about $235K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in NEAL receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Midenergy Operating, LLC |
|---|---|
| Field | Spraberry (Trend Area) |
| County | Upton County, Texas |
| RRC district | 7C |
| Lease number | 17478 |
| Wellbores | 10 |
| Reported production | 306,008 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $1.1M |
Where NEAL 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.