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Texas oil lease

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ELY UNIT 2

Ely Unit 2 is an oil lease in Milam County, Texas, operated by Magnolia Oil & Gas Operating LLC in the Giddings (Austin Chalk-3) field.

3 wells

15,912bbl oil, last 12 months−24% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Milam County
Field
Giddings (Austin Chalk-3)
RRC lease
03-23025

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Where it sits

This county

Milam CountyMilamFallsBellWilliamsonBrazosBurlesonRobertsonMilam County
Milam County
Gas, last 12 months
47,759 mcf
Oil in Jul 2026
1,274 bbl

Production by month

Oil output fell 24% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 24% over the last 12 monthsMonthly oil production and gas for ELY UNIT 2, Aug 2023 to Jul 2026. Oil output fell 24% over the last 12 months. 15,912 bbl in the 12 months through Jul 2026, against 20,809 bbl in the 12 months before.Last 12 months: 15,912 bblbbl per monthmcf per month005002,0001,0004,0001,5006,0002,0008,0002,50010kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 24% over the last 12 monthsMonthly oil production and gas for ELY UNIT 2, Aug 2023 to Jul 2026. Oil output fell 24% over the last 12 months. 15,912 bbl in the 12 months through Jul 2026, against 20,809 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month005002,0001,0004,0001,5006,0002,0008,0002,50010kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

48% of the gas went to a transmission line in the last 12 months

Flaring peaked at 87.9% of the gas in Jan 2026.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
48% of the gas went to a transmission line in the last 12 monthsShare of ELY UNIT 2 gas by disposition code each month, Aug 2023 to Jul 2026. 48% of the gas went to a transmission line in the last 12 months. Flaring peaked at 87.9% of the gas in Jan 2026.Share of the lease’s gas by disposition code, per month0%50%100%Flared 87.9%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
48% of the gas went to a transmission line in the last 12 monthsShare of ELY UNIT 2 gas by disposition code each month, Aug 2023 to Jul 2026. 48% of the gas went to a transmission line in the last 12 months. Flaring peaked at 87.9% of the gas in Jan 2026.Share of gas by disposition code0%50%100%Flared 87.9%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    48% · 22,934 mcf

  • Flared (4)

    39% · 18,536 mcf

  • Lease fuel (1)

    13% · 6,289 mcf

38.8% of the gas flared in the last 12 months. 35 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.

3 wells on this lease

Wells on ELY UNIT 2
API numberWell no.Status
42-331-334651Active
42-331-338852Active
42-331-349873HAActive

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 gasBuys100Sep 1, 2016–
Energy Transfer CompanyCasinghead gasGathers100Jan 1, 2006–
4J Energy, LLCOilGathers20Mar 1, 2021Jul 1, 2021
Flint Hills Resources, LPOilGathers10Mar 1, 2021Jul 1, 2021
Sunoco Ptnrs. Mktg.&terminals LPOilGathers70Mar 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

704.47 acres on the newest permit

A pooling certificate was filed

Permits for Ely Unit 2
API numberWell no.Acreson the permit
42-331-349873HA704.47
42-331-338852704.47
42-331-334651704.47

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 2
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Magnolia Oil1,2741,4894,1453,415162$80.46$2.89
Jun 2026Magnolia Oil1,2811,2264,2543,541142$84.81$3.15
May 2026Magnolia Oil1,3981,2684,7323,919210$102.13$2.94
Apr 2026Magnolia Oil1,6771,7834,9844,35246$100.32$2.77
Mar 2026Magnolia Oil1,4241,2944,5073,472443$91.38$3.04
Feb 2026Magnolia Oil8851,0183,0211212,452$64.51$3.62
Jan 2026Magnolia Oil1,0961,0074,06233,572$60.04$7.72
Dec 2025Magnolia Oil1,1211,0753,86803,372$57.97$4.26
Nov 2025Magnolia Oil1,2761,3413,66303,191$60.06$3.79
Oct 2025Magnolia Oil1,3421,3284,0667992,777$60.89$3.19
Sep 2025Magnolia Oil1,6061,6122,4241,024920$63.96$2.97
Aug 2025Magnolia Oil1,5321,3944,0332,2881,249$64.86$2.91
Jul 2025Magnolia Oil1,6151,6975,0442,2051,892$68.39$3.20
Jun 2025Magnolia Oil1,4651,3244,3811,6271,864$68.17$3.02
May 2025Magnolia Oil1,4851,7334,5432,0331,651$62.17$3.12
Apr 2025Magnolia Oil1,4431,5044,3231,9311,653$63.54$3.42
Mar 2025Magnolia Oil1,8741,7065,4372,3791,944$68.24$4.12
Feb 2025Magnolia Oil1,6602,0064,0341,5241,529$71.53$4.19
Jan 2025Magnolia Oil1,7741,4345,2932,2322,119$75.74$4.13
Dec 2024Magnolia Oil1,6741,8715,4533,4581,035$70.12$3.01
Nov 2024Magnolia Oil1,9081,6435,1252,9661,209$69.95$2.12
Oct 2024Magnolia Oil1,9462,1096,0033,3971,611$71.99$2.20
Sep 2024Magnolia Oil2,1491,9185,5802,9141,736$70.24$2.28
Aug 2024Magnolia Oil1,8161,9883,1081,973574$76.68$1.99
Jul 2024Magnolia Oil1,4561,4802,5401,556284$81.80$2.07
Jun 2024Magnolia Oil1,3691,3822,4411,594193$79.77$2.54
May 2024Magnolia Oil1,6761,5213,1592,177263$80.02$2.12
Apr 2024Magnolia Oil1,6871,7103,2042,257269$85.35$1.60
Mar 2024Magnolia Oil1,4521,4393,0141,0571,101$81.28$1.49
Feb 2024Magnolia Oil1,3611,5081,31941814$77.25$1.72
Jan 2024Magnolia Oil1,4361,3701,596274881$74.15$3.18
Dec 2023Magnolia Oil1,6061,6672,7561,864396$71.90$2.52
Nov 2023LRR Pecos2,1242,0864,0013,008450$77.69$2.71
Oct 2023LRR Pecos2,0382,2523,0372,117367$85.64$2.98
Sep 2023LRR Pecos2,0991,8303,6262,565545$89.43$2.64
Aug 2023LRR Pecos2,1772,1043,3962,316525$81.39$2.58

Flared above 3%

SourceTexas Railroad Commission Production Data Query, through Jul 2026. Prices: EIA, through Aug 2026. Updated Sep 28, 2026.

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Nearby

This lease belongs to

OperatorMagnolia Oil & Gas Operating LLCFieldGiddings (Austin Chalk-3)CountyMilam County

Magnolia Oil & Gas Operating LLC in Milam County

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