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Texas oil lease

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PHILIP

Philip is an oil lease in Burleson County, Texas, operated by Magnolia Oil & Gas Operating LLC in the Giddings (Eagleford) field.

1 well

10,065bbl oil, last 12 months−22% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Burleson County
Field
Giddings (Eagleford)
RRC lease
03-27856

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Where it sits

This county

Burleson CountyBurlesonMadisonBastropWashingtonBrazosLeeRobertsonGrimesMilamBurleson County
Burleson County
Gas, last 12 months
8,965 mcf
Oil in Jul 2026
742 bbl

Production by month

Oil output fell 22% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 22% over the last 12 monthsMonthly oil production and gas for PHILIP, Aug 2023 to Jul 2026. Oil output fell 22% over the last 12 months. 10,065 bbl in the 12 months through Jul 2026, against 12,898 bbl in the 12 months before.Last 12 months: 10,065 bblbbl per monthmcf per month005005001,0001,0001,5001,5002,0002,000Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 22% over the last 12 monthsMonthly oil production and gas for PHILIP, Aug 2023 to Jul 2026. Oil output fell 22% over the last 12 months. 10,065 bbl in the 12 months through Jul 2026, against 12,898 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month005005001,0001,0001,5001,5002,0002,000Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

Since May 2026 the lease's gas goes to lease fuel instead of a transmission line

Flaring peaked at 35.2% of the gas in Feb 2024.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
Since May 2026 the lease's gas goes to lease fuel instead of a transmission lineShare of PHILIP gas by disposition code each month, Aug 2023 to Jul 2026. Since May 2026 the lease's gas goes to lease fuel instead of a transmission line. Flaring peaked at 35.2% of the gas in Feb 2024.Share of the lease’s gas by disposition code, per month0%50%100%May 2026: line to fuelFlared 35.2%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Since May 2026 the lease's gas goes to lease fuel instead of a transmission lineShare of PHILIP gas by disposition code each month, Aug 2023 to Jul 2026. Since May 2026 the lease's gas goes to lease fuel instead of a transmission line. Flaring peaked at 35.2% of the gas in Feb 2024.Share of gas by disposition code0%50%100%May 26: line to fuelFlared 35.2%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    67% · 5,983 mcf

  • Lease fuel (1)

    32% · 2,907 mcf

  • Flared (4)

    0.8% · 75 mcf

0.8% of the gas flared in the last 12 months. 20 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, Jul 2020 to Nov 2021; LRR Pecos Valley, LLC, Dec 2021 to Nov 2023; Magnolia Oil & Gas Operating LLC, Dec 2023 to Jul 2026202120222023202420252026Changed Dec 2021Changed Dec 2023Treadstone Energy Prtnr Op, L…Jul 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, Jul 2020 to Nov 2021; LRR Pecos Valley, LLC, Dec 2021 to Nov 2023; Magnolia Oil & Gas Operating LLC, Dec 2023 to Jul 2026202120222023202420252026Changed Dec 2021Changed Dec 2023Treadstone Energy Prtnr Op, LLCJul 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.

1 well on this lease

Wells on PHILIP
API numberWell no.Status
42-051-343031HEActive

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 21, 2020–
Energy Transfer CompanyCasinghead gasGathers100Jul 21, 2020–
Buckhead Midstream, LLCOilGathers10Jul 21, 2020Jul 1, 2021
Flint Hills Resources, LPOilGathers10Jul 21, 2020Jul 1, 2021
Shell Trading (Us) CompanyOilGathers10Jul 21, 2020Jul 1, 2021
Sunoco Ptnrs. Mktg.&terminals LPOilGathers70Jul 21, 2020Jul 1, 2021

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

Who buys my oilOil price check

2,440.57 acres on the newest permit

An allocation well is on this lease

Permits for Philip
API numberWell no.Acreson the permit
42-051-343031HE2,440.57

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 PHILIP
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Magnolia Oil7427204882373$80.46$2.89
Jun 2026Magnolia Oil8058064702273$84.81$3.15
May 2026Magnolia Oil83973150124310$102.13$2.94
Apr 2026Magnolia Oil84089065239220$100.32$2.77
Mar 2026Magnolia Oil9298816534050$91.38$3.04
Feb 2026Magnolia Oil8521,0765323071$64.51$3.62
Jan 2026Magnolia Oil7716943731371$60.04$7.72
Dec 2025Magnolia Oil7607228776218$57.97$4.26
Nov 2025Magnolia Oil1,0198931,0908500$60.06$3.79
Oct 2025Magnolia Oil9391,0639296756$60.89$3.19
Sep 2025Magnolia Oil7737008506046$63.96$2.97
Aug 2025Magnolia Oil7968781,5501,28517$64.86$2.91
Jul 2025Magnolia Oil1,4431,4291,9511,7021$68.39$3.20
Jun 2025Magnolia Oil1,4621,59494569213$68.17$3.02
May 2025Magnolia Oil5663422781843$62.17$3.12
Apr 2025Magnolia Oil1,0321,0735883399$63.54$3.42
Mar 2025Magnolia Oil1,1101,07946822613$68.24$4.12
Feb 2025Magnolia Oil697729647347161$71.53$4.19
Jan 2025Magnolia Oil1,1861,24494559899$75.74$4.13
Dec 2024Magnolia Oil1,2051,07073440484$70.12$3.01
Nov 2024Magnolia Oil9721,07449822466$69.95$2.12
Oct 2024Magnolia Oil9671,048977592165$71.99$2.20
Sep 2024Magnolia Oil1,0791,052957585132$70.24$2.28
Aug 2024Magnolia Oil1,1791,0631,160779133$76.68$1.99
Jul 2024Magnolia Oil1,2481,2351,234762224$81.80$2.07
Jun 2024Magnolia Oil1,1801,2261,076640196$79.77$2.54
May 2024Magnolia Oil1,3431,4041,328922158$80.02$2.12
Apr 2024Magnolia Oil1,018903844488116$85.35$1.60
Mar 2024Magnolia Oil1,2421,2521,195749198$81.28$1.49
Feb 2024Magnolia Oil1,2611,2501,179532415$77.25$1.72
Jan 2024Magnolia Oil1,3001,2601,022596178$74.15$3.18
Dec 2023Magnolia Oil1,3201,4111,247817182$71.90$2.52
Nov 2023LRR Pecos1,2011,2211,334978123$77.69$2.71
Oct 2023LRR Pecos1,3271,3671,6221,124254$85.64$2.98
Sep 2023LRR Pecos1,3031,2451,510937333$89.43$2.64
Aug 2023LRR Pecos1,3131,1791,4431,010202$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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This lease belongs to

OperatorMagnolia Oil & Gas Operating LLCFieldGiddings (Eagleford)CountyBurleson County

Magnolia Oil & Gas Operating LLC in Burleson County

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