PRESTON #1
PRESTON #1 is a Texas oil lease in Wichita County, Railroad Commission district 09, operated by Landrum West, Inc. It has 24 wellbores on file with the Commission. Reported production runs from January 1993 to August 2026, totalling 91,821 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 $646K, with roughly $124K 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 152 barrels a month, about 6 per wellbore. Its strongest month on the record we hold was June 2023, at 399 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 PRESTON #1
- Who operates PRESTON #1?
- PRESTON #1 is operated by Landrum West, Inc., Railroad Commission of Texas operator number 484730.
- Where is PRESTON #1?
- PRESTON #1 is a Texas oil lease in Wichita County, Texas, in Railroad Commission district 09. Its Railroad Commission lease number is 27927.
- Is PRESTON #1 still producing?
- PRESTON #1 is currently producing. The most recent month of production reported to the Railroad Commission of Texas for PRESTON #1 is August 2026.
- How much has PRESTON #1 produced?
- PRESTON #1 has reported 91,821 barrels of oil (bbl) to the Railroad Commission of Texas between January 1993 and August 2026, from 24 wellbores.
- How much is PRESTON #1 worth?
- The remaining production from PRESTON #1 is estimated to be worth about $646K in total as of 27 August 2026, within a range of $504K to $788K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in PRESTON #1 is a fraction of it. The estimate fits an Arps decline curve to the production PRESTON #1 has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for PRESTON #1 is an estimate of value, not an offer and not an appraisal.
- How much income does PRESTON #1 generate in a year?
- PRESTON #1 is forecast to net about $124K across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in PRESTON #1 receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Landrum West, Inc. |
|---|---|
| Field | Wichita County Regular |
| County | Wichita County, Texas |
| RRC district | 09 |
| Lease number | 27927 |
| Wellbores | 24 |
| Reported production | 91,821 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $646K |
Where PRESTON #1 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.