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Texas oil lease

Producing

JOE THREE

Joe Three is an oil lease in Lee County, Texas, operated by Magnolia Oil & Gas Operating LLC in the Giddings (Austin Chalk-3) field.

1 well

66,634bbl oil, last 12 months−50% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Lee County
Field
Giddings (Austin Chalk-3)
RRC lease
03-28205

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Where it sits

This county

Lee CountyLeeWilliamsonBastropWashingtonBrazosBurlesonAustinMilamLee County
Lee County
Gas, last 12 months
190,378 mcf
Oil in Jul 2026
3,346 bbl

Production by month

Oil output fell 50% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 50% over the last 12 monthsMonthly oil production and gas for JOE THREE, Jun 2024 to Jul 2026. Oil output fell 50% over the last 12 months. 66,634 bbl in the 12 months through Jul 2026, against 133,881 bbl in the 12 months before.Last 12 months: 66,634 bblbbl per monthmcf per month005,0005,00010k10k15k15k20k20kJul 24OctJan 25AprJulOctJan 26AprJul
Oil output fell 50% over the last 12 monthsMonthly oil production and gas for JOE THREE, Jun 2024 to Jul 2026. Oil output fell 50% over the last 12 months. 66,634 bbl in the 12 months through Jul 2026, against 133,881 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month005,0005,00010k10k15k15k20k20kJul 24Jan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

96% of the gas went to a transmission line in the last 12 months

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
96% of the gas went to a transmission line in the last 12 monthsShare of JOE THREE gas by disposition code each month, Jun 2024 to Jul 2026. 96% of the gas went to a transmission line in the last 12 months.Share of the lease’s gas by disposition code, per month0%50%100%Jul 24OctJan 25AprJulOctJan 26AprJul
96% of the gas went to a transmission line in the last 12 monthsShare of JOE THREE gas by disposition code each month, Jun 2024 to Jul 2026. 96% of the gas went to a transmission line in the last 12 months.Share of gas by disposition code0%50%100%Jul 24Jan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    96% · 182,711 mcf

  • Lease fuel (1)

    3.7% · 7,067 mcf

  • Flared (4)

    0.3% · 600 mcf

0.3% of the gas flared in the last 12 months. No month above 3%.

1 well on this lease

Wells on JOE THREE
API numberWell no.Status
42-287-32783H 03JBActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Energy Trans Crude Marketing LLCOilGathers40Jun 13, 2024
Enterprise Crude Oil LLCOilGathers30Jun 13, 2024
Shell Trading (Us) CompanyOilGathers30Jun 13, 2024
Et Gathering & Processing LLCCasinghead gasBuys100Jun 13, 2024
Energy Transfer CompanyCasinghead gasGathers100Jun 13, 2024

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

Who buys my oilOil price check

1,554.89 acres on the newest permit

An allocation well is on this lease

Permits for Joe Three
API numberWell no.Acreson the permit
42-287-32783H 03JB1,554.89

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

26 months, newest first

Ledger for JOE THREE
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20263,3463,32212,25211,70918$80.46$2.89
Jun 20263,7383,80512,38511,81130$84.81$3.15
May 20263,9633,95212,34711,8278$102.13$2.94
Apr 20264,2734,21713,63713,14954$100.32$2.77
Mar 20264,7554,83414,94014,42831$91.38$3.04
Feb 20265,9116,12416,58815,99492$64.51$3.62
Jan 20265,7915,55918,06117,36171$60.04$7.72
Dec 20256,0606,16517,74916,98823$57.97$4.26
Nov 20256,3746,57418,24117,42527$60.06$3.79
Oct 20257,1556,81218,10217,182100$60.89$3.19
Sep 20257,2017,28617,56116,91389$63.96$2.97
Aug 20258,0678,27518,51517,92457$64.86$2.91
Jul 20258,3898,14419,74319,15395$68.39$3.20
Jun 20258,0648,13616,97216,48378$68.17$3.02
May 20259,1279,02317,48517,11981$62.17$3.12
Apr 20259,4339,42615,76015,516133$63.54$3.42
Mar 202511,16911,18617,47717,23196$68.24$4.12
Feb 20258,7298,91911,28211,135133$71.53$4.19
Jan 202511,20811,19212,70212,578107$75.74$4.13
Dec 202412,66012,49913,10012,940157$70.12$3.01
Nov 202413,81713,78613,92913,825103$69.95$2.12
Oct 202414,10514,06713,63113,55870$71.99$2.20
Sep 202412,57512,83712,40612,32677$70.24$2.28
Aug 202414,60514,48714,85714,745111$76.68$1.99
Jul 202413,43313,42314,39014,192198$81.80$2.07
Jun 20244,8754,6485,8325,78745$79.77$2.54

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

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This lease belongs to

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

Magnolia Oil & Gas Operating LLC in Lee County

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