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Texas oil lease

Producing

VIRGINIA UNIT

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

1 well

83bbl oil, last 12 months−56% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Lee County
Field
Giddings (Austin Chalk-3)
RRC lease
03-15483

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Where it sits

This county

Lee CountyLeeWilliamsonBastropWashingtonBrazosBurlesonAustinMilamLee County
Lee County
Gas, last 12 months
3,167 mcf
Oil in Jul 2026
0 bbl

Production by month

Oil output fell 56% over the last 12 months

  • Oil (bars)
  • Gas (line)
  • Last 12 months
Oil output fell 56% over the last 12 monthsMonthly oil production and gas for VIRGINIA UNIT, Aug 2023 to Jul 2026. Oil output fell 56% over the last 12 months. 83 bbl in the 12 months through Jul 2026, against 187 bbl in the 12 months before.Last 12 months: 83 bblbbl per monthmcf per month00102502050030750401,000501,250Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 56% over the last 12 monthsMonthly oil production and gas for VIRGINIA UNIT, Aug 2023 to Jul 2026. Oil output fell 56% over the last 12 months. 83 bbl in the 12 months through Jul 2026, against 187 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month00102502050030750401,000501,250Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

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

All of the gas went to a transmission line in the last 12 monthsShare of VIRGINIA UNIT gas by disposition code each month, Aug 2023 to Jul 2026. All 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
All of the gas went to a transmission line in the last 12 monthsShare of VIRGINIA UNIT gas by disposition code each month, Aug 2023 to Jul 2026. All 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, through Jul 2026.

Who has run this lease

The operator changed once, most recently in Aug 2025

Operators of this lease over timeU. S. Operating, Inc., Jan 2020 to Jul 2025; Magnolia Oil & Gas Operating LLC, Aug 2025 to Jul 20262020202120222023202420252026Changed Aug 2025U. S. Operating, Inc.Jan 2020 to Jul 2025Magnolia Oil & Gas Operating…Aug 2025 to now
Operators of this lease over timeU. S. Operating, Inc., Jan 2020 to Jul 2025; Magnolia Oil & Gas Operating LLC, Aug 2025 to Jul 20262020202120222023202420252026Changed Aug 2025U. S. Operating, Inc.Jan 2020 to Jul 2025Magnolia Oil & Gas Operating LLCAug 2025 to now

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

1 well on this lease

Wells on VIRGINIA UNIT
API numberWell no.Status
42-287-307181REActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%FromUntil
Shell Trading (Us) CompanyOilGathers100Jan 1, 2019–
Dcp Operating Company, LPCasinghead gasBuys100Apr 1, 2017–
Dcp Operating Company, LPCasinghead gasGathers100Apr 1, 2017–
Enterprise Crude Oil LLCOilGathers100Jan 1, 2016Jan 1, 2019

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

Who buys my oilOil price check

114.05 acres on the newest permit

A pooling certificate was filed

Permits for Virginia Unit
API numberWell no.Acreson the permit
42-287-307181114.05
42-287-307181RE114.05

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 VIRGINIA UNIT
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 2026Magnolia Oil0023230$80.46$2.89
Jun 2026Magnolia Oil0023230$84.81$3.15
May 2026Magnolia Oil00990$102.13$2.94
Apr 2026Magnolia Oil00880$100.32$2.77
Mar 2026Magnolia Oil10026260$91.38$3.04
Feb 2026Magnolia Oil2036360$64.51$3.62
Jan 2026Magnolia Oil5086860$60.04$7.72
Dec 2025Magnolia Oil104484480$57.97$4.26
Nov 2025Magnolia Oil206876870$60.06$3.79
Oct 2025Magnolia Oil503113110$60.89$3.19
Sep 2025Magnolia Oil1609329320$63.96$2.97
Aug 2025Magnolia Oil4205785780$64.86$2.91
Jul 2025U. S.805795790$68.39$3.20
Jun 2025U. S.14638838830$68.17$3.02
May 2025U. S.2809989980$62.17$3.12
Apr 2025U. S.2209989980$63.54$3.42
Mar 2025U. S.31881,1171,1170$68.24$4.12
Feb 2025U. S.2621,0591,0590$71.53$4.19
Jan 2025U. S.101171170$75.74$4.13
Dec 2024U. S.703883880$70.12$3.01
Nov 2024U. S.1206436430$69.95$2.12
Oct 2024U. S.905155150$71.99$2.20
Sep 2024U. S.1301,0171,0170$70.24$2.28
Aug 2024U. S.16656316310$76.68$1.99
Jul 2024U. S.2108818810$81.80$2.07
Jun 2024U. S.2001,0261,0260$79.77$2.54
May 2024U. S.408458450$80.02$2.12
Apr 2024U. S.001691690$85.35$1.60
Mar 2024U. S.204434430$81.28$1.49
Feb 2024U. S.20616516510$77.25$1.72
Jan 2024U. S.1406026020$74.15$3.18
Dec 2023U. S.1507747740$71.90$2.52
Nov 2023U. S.1307567560$77.69$2.71
Oct 2023U. S.21695305300$85.64$2.98
Sep 2023U. S.507357350$89.43$2.64
Aug 2023U. S.606976970$81.39$2.58

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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