MILLER -38-
MILLER -38- is a Texas oil lease in Ward County, Railroad Commission district 08, operated by Pitts Energy Co. It has 1 wellbore on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 45,845 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 $326K, with roughly $62K 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 84 barrels a month. Its strongest month on the record we hold was June 2022, at 245 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 MILLER -38-
- Who operates MILLER -38-?
- MILLER -38- is operated by Pitts Energy Co., Railroad Commission of Texas operator number 666430.
- Where is MILLER -38-?
- MILLER -38- is a Texas oil lease in Ward County, Texas, in Railroad Commission district 08. Its Railroad Commission lease number is 32069.
- Is MILLER -38- still producing?
- MILLER -38- is currently producing. The most recent month of production reported to the Railroad Commission of Texas for MILLER -38- is August 2026.
- How much has MILLER -38- produced?
- MILLER -38- has reported 45,845 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 1 wellbore.
- How much is MILLER -38- worth?
- The remaining production from MILLER -38- is estimated to be worth about $326K in total as of 26 August 2026, within a range of $179K to $472K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in MILLER -38- is a fraction of it. The estimate fits an Arps decline curve to the production MILLER -38- has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for MILLER -38- is an estimate of value, not an offer and not an appraisal.
- How much income does MILLER -38- generate in a year?
- MILLER -38- is forecast to net about $62K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in MILLER -38- receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Pitts Energy Co. |
|---|---|
| Field | Scott (Delaware) |
| County | Ward County, Texas |
| RRC district | 08 |
| Lease number | 32069 |
| Wellbores | 1 |
| Reported production | 45,845 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $326K |
Where MILLER -38- 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.