KAY
KAY is a Texas oil lease in Zavala County, Railroad Commission district 01, operated by CML Exploration, LLC. It has 1 wellbore on file with the Commission. Reported production runs from January 2019 to August 2026, totalling 196,731 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 $587K, with roughly $104K 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 186 barrels a month. Its strongest month on the record we hold was February 2019, at 11,718 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 KAY
- Who operates KAY?
- KAY is operated by CML Exploration, LLC, Railroad Commission of Texas operator number 120648.
- Where is KAY?
- KAY is a Texas oil lease in Zavala County, Texas, in Railroad Commission district 01. Its Railroad Commission lease number is 20193.
- Is KAY still producing?
- KAY is currently producing. The most recent month of production reported to the Railroad Commission of Texas for KAY is August 2026.
- How much has KAY produced?
- KAY has reported 196,731 barrels of oil (bbl) to the Railroad Commission of Texas between January 2019 and August 2026, from 1 wellbore.
- How much is KAY worth?
- The remaining production from KAY is estimated to be worth about $587K in total as of 26 August 2026, within a range of $458K to $716K. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in KAY is a fraction of it. The estimate fits an Arps decline curve to the production KAY has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for KAY is an estimate of value, not an offer and not an appraisal.
- How much income does KAY generate in a year?
- KAY is forecast to net about $104K across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in KAY receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | CML Exploration, LLC |
|---|---|
| Field | Pearsall (Buda, S.) |
| County | Zavala County, Texas |
| RRC district | 01 |
| Lease number | 20193 |
| Wellbores | 1 |
| Reported production | 196,731 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $587K |
Where KAY 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.