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Royalty Clerk

Texas gas well · RRC district 02 · Lease 294810

Producing

KEYS UNIT

Keys Unit is a gas well in Karnes County, Texas, operated by Magnolia Oil & Gas Operating LLC in the Sugarkane (Austin Chalk) field. The Railroad Commission shows 208,995 mcf of gas in the 12 months through Jul 2026.

Gas well dossier · 1 well

208,995mcf gas, last 12 months−31% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Karnes County
Field
Sugarkane (Austin Chalk)
RRC lease
02-294810

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Where it sits

This county

Karnes CountyKarnesAtascosaGoliadWilsonGonzalesDe WittBexarKarnes County
Karnes County · RRC district 02Open Karnes County →
Oil, last 12 months
12,145 bbl
Gas in Jul 2026
16,012 mcf
Reporting to the state
since May 2022
Wells
1

Production

Month by month, from the state record

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

Gas output fell 31% over the last 12 months

208,995 mcf in the 12 months through Jul 2026, against 300,791 mcf in the 12 months before.

  • Gas (bars, left axis)
  • Oil (line, right axis)
  • Last 12 months
Gas output fell 31% over the last 12 monthsMonthly gas production and oil for KEYS UNIT, Aug 2023 to Jul 2026. Gas output fell 31% over the last 12 months. 208,995 mcf in the 12 months through Jul 2026, against 300,791 mcf in the 12 months before.Last 12 months: 208,995 mcfmcf per monthbbl per month0020k1,00040k2,00060k3,00080k4,000100k5,000Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Gas output fell 31% over the last 12 monthsMonthly gas production and oil for KEYS UNIT, Aug 2023 to Jul 2026. Gas output fell 31% over the last 12 months. 208,995 mcf in the 12 months through Jul 2026, against 300,791 mcf in the 12 months before.Last 12 monthsmcf per monthbbl per month0020k1,00040k2,00060k3,00080k4,000100k5,000Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, gas well 294810, 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.

91% 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)
91% 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. 91% 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
91% 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. 91% 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 294810, 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, May 2022 to Jul 20262023202420252026Magnolia Oil & Gas Operating…May 2022 to nowthrough Jul 2026
Operators of this lease over timeMagnolia Oil & Gas Operating LLC, May 2022 to Jul 20262023202420252026Magnolia Oil & Gas Operating LLCMay 2022 to nowthrough Jul 2026

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

Wells

1 well on this lease

Every well the Railroad Commission links to gas well 294810 in district 02. The API number is the state’s ID for a well.
Wells on KEYS UNIT
API numberWell no.Status
42-255-37257110HActive

SourceTexas Railroad Commission Wellbore Query, district 02, lease 294810.

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.

  • Condensate

    Phillips 66 Company gathers it.

    100% of it, on the list since May 8, 2022

  • Gas from gas wells

    Energy Transfer Company buys and gathers it.

    Energy Transfer Company buys it: 100% of it, on the list since May 8, 2022 · Energy Transfer Company gathers it: 100% of it, on the list since May 8, 2022

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
11 not plugged
Horizontal
1
First completion
May 8, 2022
Latest permit
Jul 26, 2021
Wells and acres on the permits for Keys Unit
API numberWell no.Acreson the permit
42-255-37257110H418.43

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 “Gas 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 Oil84684816,01213,8673$80.46$2.89
Jun 2026Magnolia Oil80280214,64312,6943$84.81$3.15
May 2026Magnolia Oil97296715,96314,0054$102.13$2.94
Apr 2026Magnolia Oil93593415,06213,5990$100.32$2.77
Mar 2026Magnolia Oil97898616,15214,6874$91.38$3.04
Feb 2026Magnolia Oil95994816,46414,9827$64.51$3.62
Jan 2026Magnolia Oil1,0861,08219,24917,58522$60.04$7.72
Dec 2025Magnolia Oil1,1611,16818,17016,5989$57.97$4.26
Nov 2025Magnolia Oil1,1771,17218,45016,8843$60.06$3.79
Oct 2025Magnolia Oil1,1651,16419,25417,59520$60.89$3.19
Sep 2025Magnolia Oil1,0841,08618,14817,3035$63.96$2.97
Aug 2025Magnolia Oil98097621,42820,4172$64.86$2.91
Jul 2025Magnolia Oil1,0701,07422,14721,2267$68.39$3.20
Jun 2025Magnolia Oil1,1281,12021,81820,9321$68.17$3.02
May 2025Magnolia Oil1,1291,12721,16220,1843$62.17$3.12
Apr 2025Magnolia Oil1,1801,22820,73619,7133$63.54$3.42
Mar 2025Magnolia Oil1,1041,12720,57019,4873$68.24$4.12
Feb 2025Magnolia Oil1,4291,41123,64122,6780$71.53$4.19
Jan 2025Magnolia Oil1,4821,47526,64725,5480$75.74$4.13
Dec 2024Magnolia Oil1,0201,03022,59521,6130$70.12$3.01
Nov 2024Magnolia Oil1,3731,36726,70925,6700$69.95$2.12
Oct 2024Magnolia Oil1,4591,46531,26130,0850$71.99$2.20
Sep 2024Magnolia Oil1,6761,68131,37130,1310$70.24$2.28
Aug 2024Magnolia Oil1,9661,96732,13430,7381$76.68$1.99
Jul 2024Magnolia Oil2,1392,13435,06433,6210$81.80$2.07
Jun 2024Magnolia Oil1,8661,86033,67832,2850$79.77$2.54
May 2024Magnolia Oil1,9091,91234,04832,6390$80.02$2.12
Apr 2024Magnolia Oil2,1072,12634,08032,7150$85.35$1.60
Mar 2024Magnolia Oil2,4382,44235,81834,34919$81.28$1.49
Feb 2024Magnolia Oil2,8042,78934,23032,7931$77.25$1.72
Jan 2024Magnolia Oil2,4722,48231,63030,3007$74.15$3.18
Dec 2023Magnolia Oil2,8282,84635,06133,6860$71.90$2.52
Nov 2023Magnolia Oil3,2143,18935,58034,1480$77.69$2.71
Oct 2023Magnolia Oil3,3583,34735,29933,6531$85.64$2.98
Sep 2023Magnolia Oil3,6823,74636,51134,7196$89.43$2.64
Aug 2023Magnolia Oil4,1754,16961,86459,02716$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 LLCFieldSugarkane (Austin Chalk)CountyKarnes County

Magnolia Oil & Gas Operating LLC in Karnes County

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Sugarkane (Austin Chalk) field

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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 “Gas sold” volume for the month the check covers and multiply it by your decimal. The answer should match the mcf 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, gas well 294810, 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.

FAQ

Questions about KEYS UNIT

Who operates the KEYS UNIT lease?

The Railroad Commission lists Magnolia Oil & Gas Operating LLC (operator number 521544) as the operator of this lease in Karnes County, Texas. The operator history on this page shows earlier operators and when the record changed.

How much has the KEYS UNIT lease produced?

The lease reported 12,145 bbl of oil and 208,995 mcf of gas in the last 12 months through Jul 2026. Monthly figures for 36 months are in the ledger on this page, taken from the Railroad Commission's production data.

Does this page show who owns the royalty?

No. Railroad Commission records show who operates a lease and what it reported, not who owns the minerals or receives royalty. Your division order and royalty stub name the lease and your decimal interest.

How do I check my royalty stub against this lease?

Multiply the lease's volume for a month by your decimal interest and compare it with the barrels and mcf on your stub for the same month. The two are seldom identical, since sales and reporting months can differ, but a large gap is worth a question to the operator.

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