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Texas oil lease

Producing

ELY UNIT 1

Ely Unit 1 is an oil lease in Milam County, Texas, operated by Magnolia Oil & Gas Operating LLC in the Giddings (Buda) field.

2 wells

6,561bbl oil, last 12 months−26% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Milam County
Field
Giddings (Buda)
RRC lease
03-27314

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Where it sits

This county

Milam CountyMilamFallsBellWilliamsonBrazosBurlesonRobertsonMilam County
Milam County
Gas, last 12 months
9,152 mcf
Oil in Jul 2026
572 bbl

Production by month

Oil output fell 26% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 26% over the last 12 monthsMonthly oil production and gas for ELY UNIT 1, Aug 2023 to Jul 2026. Oil output fell 26% over the last 12 months. 6,561 bbl in the 12 months through Jul 2026, against 8,815 bbl in the 12 months before.Last 12 months: 6,561 bblbbl per monthmcf per month002505005001,0007501,5001,0002,0001,2502,500Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 26% over the last 12 monthsMonthly oil production and gas for ELY UNIT 1, Aug 2023 to Jul 2026. Oil output fell 26% over the last 12 months. 6,561 bbl in the 12 months through Jul 2026, against 8,815 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month002505005001,0007501,5001,0002,0001,2502,500Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

56% of the gas went to flaring in the last 12 months

Flaring peaked at 100.0% of the gas in Nov 2025.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
56% of the gas went to flaring in the last 12 monthsShare of ELY UNIT 1 gas by disposition code each month, Aug 2023 to Jul 2026. 56% of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Nov 2025.Share of the lease’s gas by disposition code, per month0%50%100%Flared 100.0%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
56% of the gas went to flaring in the last 12 monthsShare of ELY UNIT 1 gas by disposition code each month, Aug 2023 to Jul 2026. 56% of the gas went to flaring in the last 12 months. Flaring peaked at 100.0% of the gas in Nov 2025.Share of gas by disposition code0%50%100%Flared 100.0%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Flared (4)

    56% · 5,147 mcf

  • Transmission line (2)

    43% · 3,940 mcf

  • Lease fuel (1)

    0.7% · 65 mcf

56.2% of the gas flared in the last 12 months. 33 months above 3%.

Who has run this lease

The operator changed 2 times, most recently in Dec 2023

Operators of this lease over timeTreadstone Energy Prtnr Op, LLC, Jan 2020 to Nov 2021; LRR Pecos Valley, LLC, Dec 2021 to Nov 2023; Magnolia Oil & Gas Operating LLC, Dec 2023 to Jul 20262020202120222023202420252026Changed Dec 2021Changed Dec 2023Treadstone Energy Prtnr Op, L…Jan 2020 to Nov 2021LRR Pecos Valley, LLCDec 2021 to Nov 2023Magnolia Oil & Gas Operating…Dec 2023 to now
Operators of this lease over timeTreadstone Energy Prtnr Op, LLC, Jan 2020 to Nov 2021; LRR Pecos Valley, LLC, Dec 2021 to Nov 2023; Magnolia Oil & Gas Operating LLC, Dec 2023 to Jul 20262020202120222023202420252026Changed Dec 2021Changed Dec 2023Treadstone Energy Prtnr Op, LLCJan 2020 to Nov 2021LRR Pecos Valley, LLCDec 2021 to Nov 2023Magnolia Oil & Gas Operating LLCDec 2023 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

2 wells on this lease

Wells on ELY UNIT 1
API numberWell no.Status
42-331-349834HGShut-in
42-331-349845HBActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Energy Trans Crude Marketing LLCOilGathers75Jul 1, 2021–
4J Energy, LLCOilGathers25Jul 1, 2021–
Energy Transfer CompanyCasinghead gasBuys100Jul 6, 2017–
Energy Transfer CompanyCasinghead gasGathers100Jul 6, 2017–
4J Energy, LLCOilGathers20Mar 1, 2021Jul 1, 2021
Sunoco Ptnrs. Mktg.&terminals LPOilGathers70Mar 1, 2021Jul 1, 2021
Texican Crude&hydrocarbons, LLCOilGathers10Mar 1, 2021Jul 1, 2021
Buckhead Midstream, LLCOilGathers25Jul 1, 2020Mar 1, 2021
Shell Trading (Us) CompanyOilGathers25Jul 1, 2020Mar 1, 2021
Sunoco Ptnrs. Mktg.&terminals LPOilGathers25Jul 1, 2020Mar 1, 2021

SourceRailroad Commission Form P-4 file, Sep 24, 2026 (source).

Who buys my oilOil price check

680 acres on the newest permit

Permits for Ely Unit 1
API numberWell no.Acreson the permit
42-331-349845HB680
42-331-349834HG680

SourceRailroad Commission drilling permits, Sep 26, 2026 (source 1, source 2).

Unit decimal checker

What Magnolia Oil & Gas Corporation told investors it received

Magnolia Oil & Gas Operating LLC is linked to Magnolia Oil & Gas Corporation (MGY).
Realized prices reported by Magnolia Oil & Gas Corporation
QuarterOil$ per bblFiling
Q2 2026$98.13SEC filing
Q1 2026$70.29SEC filing
Q3 2025$63.55SEC filing
Q2 2025$62.20SEC filing
Q1 2025$69.81SEC filing
Q3 2024$74.23SEC filing

SourceMagnolia Oil & Gas Corporation quarterly reports, SEC EDGAR, company-wide averages before hedging.

Estimate your royalty

36 months, newest first

Ledger for ELY UNIT 1
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Magnolia Oil57260632230214$80.46$2.89
Jun 2026Magnolia Oil65360772868327$84.81$3.15
May 2026Magnolia Oil59560965860833$102.13$2.94
Apr 2026Magnolia Oil4874744914745$100.32$2.77
Mar 2026Magnolia Oil44444049042454$91.38$3.04
Feb 2026Magnolia Oil35336036417347$64.51$3.62
Jan 2026Magnolia Oil5075116481647$60.04$7.72
Dec 2025Magnolia Oil6236471,38001,380$57.97$4.26
Nov 2025Magnolia Oil5895338220822$60.06$3.79
Oct 2025Magnolia Oil5875801,275285990$60.89$3.19
Sep 2025Magnolia Oil5145541,090574516$63.96$2.97
Aug 2025Magnolia Oil637625884572312$64.86$2.91
Jul 2025Magnolia Oil8518361,076521447$68.39$3.20
Jun 2025Magnolia Oil7637271,088453519$68.17$3.02
May 2025Magnolia Oil7217261,179571464$62.17$3.12
Apr 2025Magnolia Oil776810960454389$63.54$3.42
Mar 2025Magnolia Oil830814888427349$68.24$4.12
Feb 2025Magnolia Oil455453481205205$71.53$4.19
Jan 2025Magnolia Oil293377452205195$75.74$4.13
Dec 2024Magnolia Oil7857821,167813243$70.12$3.01
Nov 2024Magnolia Oil9298671,226783319$69.95$2.12
Oct 2024Magnolia Oil8768731,383853405$71.99$2.20
Sep 2024Magnolia Oil7597661,135648386$70.24$2.28
Aug 2024Magnolia Oil777819938709206$76.68$1.99
Jul 2024Magnolia Oil8218361,3251,006184$81.80$2.07
Jun 2024Magnolia Oil9198541,2891,047127$79.77$2.54
May 2024Magnolia Oil9469631,4191,158140$80.02$2.12
Apr 2024Magnolia Oil9019261,205991118$85.35$1.60
Mar 2024Magnolia Oil1,0271,0301,055443461$81.28$1.49
Feb 2024Magnolia Oil1,0951,05931915304$77.25$1.72
Jan 2024Magnolia Oil1,0671,05539794303$74.15$3.18
Dec 2023Magnolia Oil1,1191,118680561119$71.90$2.52
Nov 2023LRR Pecos29025161152872$77.69$2.71
Oct 2023LRR Pecos00553518$85.64$2.98
Sep 2023LRR Pecos00000$89.43$2.64
Aug 2023LRR Pecos1212000$81.39$2.58

Flared above 3%

SourceTexas Railroad Commission Production Data Query, through Jul 2026. Prices: EIA, through Aug 2026. Updated Oct 2, 2026.

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This lease belongs to

OperatorMagnolia Oil & Gas Operating LLCFieldGiddings (Buda)CountyMilam County

Magnolia Oil & Gas Operating LLC in Milam County

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Giddings (Buda) field

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