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Royalty Clerk

Texas oil lease · RRC district 02 · Lease 11996

Producing

KEYS UNIT

Keys Unit is an oil lease in Karnes County, Texas, operated by Magnolia Oil & Gas Operating LLC in the Eagleville (Eagle Ford-2) field. The Railroad Commission shows 136,766 bbl of oil in the 12 months through Jul 2026.

Oil lease dossier · 10 wells

136,766bbl oil, last 12 months−23% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Karnes County
Field
Eagleville (Eagle Ford-2)
RRC lease
02-11996

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Where it sits

This county

Karnes CountyKarnesAtascosaGoliadWilsonGonzalesDe WittBexarKarnes County
Karnes County · RRC district 02Open Karnes County →
Gas, last 12 months
255,795 mcf
Oil in Jul 2026
10,020 bbl
Reporting to the state
since Feb 2020
Wells
10

Production

Month by month, from the state record

What the Railroad Commission says this oil lease produced. Oil is in barrels (bbl). Gas is in thousand cubic feet (mcf).

Oil output fell 23% over the last 12 months

136,766 bbl in the 12 months through Jul 2026, against 176,967 bbl in the 12 months before.

  • Oil (bars, left axis)
  • Gas (line, right axis)
  • Last 12 months
Oil output fell 23% over the last 12 monthsMonthly oil production and gas for KEYS UNIT, Aug 2023 to Jul 2026. Oil output fell 23% over the last 12 months. 136,766 bbl in the 12 months through Jul 2026, against 176,967 bbl in the 12 months before.Last 12 months: 136,766 bblbbl per monthmcf per month0010k20k20k40k30k60k40k80kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 23% over the last 12 monthsMonthly oil production and gas for KEYS UNIT, Aug 2023 to Jul 2026. Oil output fell 23% over the last 12 months. 136,766 bbl in the 12 months through Jul 2026, against 176,967 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month0010k20k20k40k30k60k40k80kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, oil lease 11996, district 02. Reported through Jul 2026. The state revises recent months.

Gas disposition

Where the gas went

Every month the operator tells the state where each mcf of gas went, using a code. The code decides how your gas is paid.

89% of the gas went to a transmission line in the last 12 months

Each bar is one month. Colors are the disposition codes the operator reported.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
89% of the gas went to a transmission line in the last 12 monthsShare of KEYS UNIT gas by disposition code each month, Aug 2023 to Jul 2026. 89% 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%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
89% of the gas went to a transmission line in the last 12 monthsShare of KEYS UNIT gas by disposition code each month, Aug 2023 to Jul 2026. 89% of the gas went to a transmission line in the last 12 months. Share of gas by disposition code0%50%100%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 11996, district 02. Reported through Jul 2026.

Transmission line (2)

Sold straight into a pipeline without processing. Processing fees on your statement would be worth asking about.

Lease fuel (1)

Burned to run equipment on the lease. Not sold, so it pays no royalty. A few percent is normal.

Flared (4)

Burned off or vented, not sold. It pays no royalty. More than 3% in a month is worth watching.

None of the gas was flared in the last 12 months.

Operator history

Who has run this lease

The operator runs the wells and pays your royalty. When the operator changes, payments often slip for a month or two.

Magnolia Oil & Gas Operating LLC has reported this lease for the whole period

No change of operator in the months we hold.

Operators of this lease over timeMagnolia Oil & Gas Operating LLC, Feb 2020 to Jul 2026202120222023202420252026Magnolia Oil & Gas Operating…Feb 2020 to nowthrough Jul 2026
Operators of this lease over timeMagnolia Oil & Gas Operating LLC, Feb 2020 to Jul 2026202120222023202420252026Magnolia Oil & Gas Operating LLCFeb 2020 to nowthrough Jul 2026

SourceTexas Railroad Commission Production Data Query, operator by month. Reported through Jul 2026.

Wells

10 wells on this lease

Every well the Railroad Commission links to oil lease 11996 in district 02. The API number is the state’s ID for a well.
Wells on KEYS UNIT
API numberWell no.Status
42-255-365821HActive
42-255-365833HActive
42-255-365845HActive
42-255-365857HActive
42-255-365869HActive
42-255-3668611HActive
42-255-3668713HActive
42-255-3721115HActive
42-255-3722517HActive
42-255-3725619HActive

SourceTexas Railroad Commission Wellbore Query, district 02, lease 11996.

Who buys and gathers

Who moves and buys this lease's production

The operator files a Form P-4 with the Railroad Commission naming the companies authorised to gather and buy the oil and gas. The buyer's price is the one your royalty is figured on.

  • Oil

    Plains Marketing, L.p., Flint Hills Resources, LP and Phillips 66 Company gather it.

    Plains Marketing, L.p. gathers it: 40% of it, on the list since Jan 7, 2025 · Flint Hills Resources, LP gathers it: 30% of it, on the list since Jan 7, 2025 · Phillips 66 Company gathers it: 30% of it, on the list since Jan 7, 2025

  • Gas from oil wells

    Energy Transfer Company buys and gathers it.

    Energy Transfer Company buys it: 100% of it, on the list since Feb 10, 2020 · Energy Transfer Company gathers it: 100% of it, on the list since Feb 10, 2020

Companies that used to be listed: Flint Hills Resources, LP (gathers it, until Jan 7, 2025); Ironwood Midst Energy Ptnrs LLC (gathers it, until Jan 7, 2025); Phillips 66 Company (gathers it, until Jan 7, 2025); Shell Trading (Us) Company (gathers it, until Jan 7, 2025).

SourceRailroad Commission of Texas, Form P-4 file, dated Sep 24, 2026 (source). A listed company is authorised to move or buy the production; the state does not say what it paid.

Who buys my oil and gasIs my oil price fair?

Unit and wells

418.43 acres on the newest permit

Acres and wells as the operator filed them on its Railroad Commission drilling permits. Your decimal is your net acres over the unit acres, so this is the number to hold your division order against.
Wells on the permits
1010 not plugged
Horizontal
10
First completion
Feb 10, 2020
Latest permit
Jul 23, 2021

10 wells are listed on this lease

Each well can have its own unit. The decimal for one well does not have to equal the decimal for another.

Wells and acres on the permits for Keys Unit
API numberWell no.Acreson the permit
42-255-3725619H418.43
42-255-3721115H418.43
42-255-3722517H418.43
42-255-3668611H418.43
42-255-3668713H418.43
42-255-365833H418.43
42-255-365845H418.43
42-255-365821H418.43
42-255-365857H418.43
42-255-365869H418.43

SourceRailroad Commission of Texas, drilling permits and wellbore file, Sep 26, 2026 (source 1, source 2). The acres are what the operator filed; they are not a survey.

Check my decimal against the unit

What the operator reported

What Magnolia Oil & Gas Corporation told investors it received

Magnolia Oil & Gas Operating LLC is linked to Magnolia Oil & Gas Corporation (MGY). Public companies report the average price they realize each quarter. It is an average across everything the company operates, not the price on this lease.
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 on SEC EDGAR, prices before hedging where the company states both. Read by machine from each filing’s tables; the link opens the filing so you can check the figure.

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Estimator

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A rough check before you look at a statement: the state volumes times your decimal, priced at WTI and Henry Hub.

Estimator

What could your check be?

Your decimal interest is the small number on your division order that says what share of the whole lease (8/8ths) is yours. Type it in and we apply it to what the state says KEYS UNIT sold each month.

For example 0.00097656, or a fraction like 1/1024.

Dollars per barrel. Your statements show the gap your operator uses. Leave 0 to price oil at WTI.

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Enter your decimal to see an estimated royalty for each of the last 12 months this lease reported. Nothing you type leaves your browser.

An estimate, not your check

It ignores gathering and processing fees, taxes, plant products and the price your operator actually gets, so your statement will differ. Use it as a ceiling to compare against. Regional gas prices are often below Henry Hub.

Ledger

36 months, newest first

Compare these numbers with your statements. Your share of a month is the “Oil sold” volume times your decimal. Scroll sideways on a phone.
Monthly production, disposition and prices for KEYS UNIT
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3Flaredmcf, code 4WTI$ per bblHenry Hub$ per MMBtu
Jul 2026Magnolia Oil10,02010,03422,16319,1935$80.46$2.89
Jun 2026Magnolia Oil9,3849,36419,02716,4944$84.81$3.15
May 2026Magnolia Oil10,21710,17520,91118,3456$102.13$2.94
Apr 2026Magnolia Oil10,45810,44020,75718,7410$100.32$2.77
Mar 2026Magnolia Oil11,37211,43428,19225,6347$91.38$3.04
Feb 2026Magnolia Oil10,63210,57420,68318,8228$64.51$3.62
Jan 2026Magnolia Oil11,86611,81020,94719,13624$60.04$7.72
Dec 2025Magnolia Oil12,04612,13619,79018,0789$57.97$4.26
Nov 2025Magnolia Oil12,46212,42322,09920,2234$60.06$3.79
Oct 2025Magnolia Oil12,57512,55622,01120,11423$60.89$3.19
Sep 2025Magnolia Oil12,20812,28619,24316,06517$63.96$2.97
Aug 2025Magnolia Oil13,52613,51519,97216,8166$64.86$2.91
Jul 2025Magnolia Oil14,25714,20920,31717,11625$68.39$3.20
Jun 2025Magnolia Oil12,48612,45122,13219,0494$68.17$3.02
May 2025Magnolia Oil13,12013,17723,45320,31310$62.17$3.12
Apr 2025Magnolia Oil13,18913,23722,64319,29411$63.54$3.42
Mar 2025Magnolia Oil13,05413,20121,25617,95510$68.24$4.12
Feb 2025Magnolia Oil13,34713,20917,06114,3330$71.53$4.19
Jan 2025Magnolia Oil15,69615,68325,23522,1910$75.74$4.13
Dec 2024Magnolia Oil16,33716,35628,81525,6181$70.12$3.01
Nov 2024Magnolia Oil15,68615,63326,87623,7150$69.95$2.12
Oct 2024Magnolia Oil16,59116,70127,95224,8900$71.99$2.20
Sep 2024Magnolia Oil16,55616,55026,08623,2000$70.24$2.28
Aug 2024Magnolia Oil16,64816,64728,38424,9652$76.68$1.99
Jul 2024Magnolia Oil17,67917,68130,12826,8270$81.80$2.07
Jun 2024Magnolia Oil17,89917,83532,15428,9060$79.77$2.54
May 2024Magnolia Oil19,26619,26233,51530,3970$80.02$2.12
Apr 2024Magnolia Oil19,76619,88739,84836,7330$85.35$1.60
Mar 2024Magnolia Oil21,35421,31838,20535,01842$81.28$1.49
Feb 2024Magnolia Oil20,17920,11136,87033,8152$77.25$1.72
Jan 2024Magnolia Oil21,89521,94739,86636,73114$74.15$3.18
Dec 2023Magnolia Oil22,94223,04544,60041,3290$71.90$2.52
Nov 2023Magnolia Oil23,24323,08449,59546,0470$77.69$2.71
Oct 2023Magnolia Oil25,14525,04964,61859,8694$85.64$2.98
Sep 2023Magnolia Oil25,19125,57069,89464,70817$89.43$2.64
Aug 2023Magnolia Oil25,56425,43664,83461,25220$81.39$2.58

No report filed More than 3% of gas flared

SourceVolumes: Texas Railroad Commission Production Data Query, reported through Jul 2026. Prices: EIA WTI Cushing spot and Henry Hub spot, monthly, through Aug 2026. “Gas sold” is gas sent to a transmission line (code 2) or a plant (code 3).

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Around this lease

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Everything on this page connects to the operator, field and county records. Start from any of them.

This lease belongs to

OperatorMagnolia Oil & Gas Operating LLCFieldEagleville (Eagle Ford-2)CountyKarnes County

Magnolia Oil & Gas Operating LLC in Karnes County

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Eagleville (Eagle Ford-2) field

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Found by the location of their wells.

Drilling permits within 10 km

How to read this page

Questions owners ask

What is a decimal interest?

It is your share of the whole lease, written as a decimal. A 1/4 royalty on 5 net acres in a 1,280-acre unit is 1/4 × 5 ÷ 1,280 = 0.00097656. Your division order states yours.

How do I use this page to check a royalty check?

Take the “Oil sold” volume for the month the check covers and multiply it by your decimal. The answer should match the barrels on your statement. If it does not, upload the statement and we will show where the two differ.

Why is the newest month Jul 2026?

The Railroad Commission publishes production two to three months after the fact and revises recent months. We re-pull the latest three months on every update.

Does this page show what my check should be?

No. It shows what the state recorded. Prices, fees and taxes depend on your lease and on what your operator gets for the oil and gas. The estimator gives a ceiling to compare against.

Sources and method

Where these numbers come from

  • Production and disposition by month: Texas Railroad Commission Production Data Query, oil lease 11996, district 02, reported through Jul 2026.
  • Wells: Texas Railroad Commission Wellbore Query.
  • Prices: U.S. Energy Information Administration, WTI Cushing spot and Henry Hub spot, monthly.
  • Page updated Sep 28, 2026.

We show the state’s numbers as filed. Where the state has no report for a month, we say so instead of guessing.