SMITH 103
SMITH 103 is a Texas oil lease in Van Zandt County, Railroad Commission district 05, operated by Union Oil Company Of California. It has 8 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 152,870 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 $515K, with roughly $95K 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 95 barrels a month, about 12 per wellbore. Its strongest month on the record we hold was March 2026, at 157 barrels. In our own backtest, leases producing at this rate are forecast to within about 45% 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 SMITH 103
- Who operates SMITH 103?
- SMITH 103 is operated by Union Oil Company Of California, Railroad Commission of Texas operator number 876520.
- Where is SMITH 103?
- SMITH 103 is a Texas oil lease in Van Zandt County, Texas, in Railroad Commission district 05. Its Railroad Commission lease number is 03247.
- Is SMITH 103 still producing?
- SMITH 103 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for SMITH 103 is August 2026.
- How much has SMITH 103 produced?
- SMITH 103 has reported 152,870 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 8 wellbores.
- How much is SMITH 103 worth?
- The remaining production from SMITH 103 is estimated to be worth about $515K in total as of 27 August 2026, within a range of $283K to $747K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in SMITH 103 is a fraction of it. The estimate fits an Arps decline curve to the production SMITH 103 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for SMITH 103 is an estimate of value, not an offer and not an appraisal.
- How much income does SMITH 103 generate in a year?
- SMITH 103 is forecast to net about $95K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in SMITH 103 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Union Oil Company Of California |
|---|---|
| Field | Van (Austin Chalk) |
| County | Van Zandt County, Texas |
| RRC district | 05 |
| Lease number | 03247 |
| Wellbores | 8 |
| Reported production | 152,870 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $515K |
Where SMITH 103 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.