BUCKLES
BUCKLES is a Texas oil lease in Ward County, Railroad Commission district 08, operated by Explo Oil, Inc. It has 10 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 58,770 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 $198K, with roughly $38K 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 47 barrels a month, about 5 per wellbore. Its strongest month on the record we hold was December 2022, at 205 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 BUCKLES
- Who operates BUCKLES?
- BUCKLES is operated by Explo Oil, Inc., Railroad Commission of Texas operator number 257027.
- Where is BUCKLES?
- BUCKLES is a Texas oil lease in Ward County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 31190.
- Is BUCKLES still producing?
- BUCKLES is currently producing. The most recent month of production reported to the Railroad Commission of Texas for BUCKLES is August 2026.
- How much has BUCKLES produced?
- BUCKLES has reported 58,770 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 10 wellbores.
- How much is BUCKLES worth?
- The remaining production from BUCKLES is estimated to be worth about $198K in total as of 26 August 2026, within a range of $109K to $287K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in BUCKLES is a fraction of it. The estimate fits an Arps decline curve to the production BUCKLES has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for BUCKLES is an estimate of value, not an offer and not an appraisal.
- How much income does BUCKLES generate in a year?
- BUCKLES is forecast to net about $38K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in BUCKLES receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Explo Oil, Inc. |
|---|---|
| Field | Ward, South |
| County | Ward County, Texas |
| RRC district | 08 |
| Lease number | 31190 |
| Wellbores | 10 |
| Reported production | 58,770 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $198K |
Where BUCKLES 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.