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Royalty Clerk

Texas oil lease · RRC district 03 · Lease 23462

Producing

WOLF UNIT

Wolf Unit is an oil lease in Milam County, Texas, operated by Magnolia Oil & Gas Operating LLC in the Giddings (Austin Chalk-3) field. The Railroad Commission shows 34,656 bbl of oil in the 12 months through Jul 2026.

Oil lease dossier · 3 wells

34,656bbl oil, last 12 months−29% vs prior year
Operator
Magnolia Oil & Gas Operating LLC
County
Milam County
Field
Giddings (Austin Chalk-3)
RRC lease
03-23462

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Where it sits

This county

Milam CountyMilamFallsBellWilliamsonBrazosBurlesonRobertsonMilam County
Milam County · RRC district 03Open Milam County →
Gas, last 12 months
159,159 mcf
Oil in Jul 2026
2,945 bbl
Reporting to the state
since Jan 2020
Wells
3

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 29% over the last 12 months

34,656 bbl in the 12 months through Jul 2026, against 49,060 bbl in the 12 months before.

  • Oil (bars, left axis)
  • Gas (line, right axis)
  • Last 12 months
Oil output fell 29% over the last 12 monthsMonthly oil production and gas for WOLF UNIT, Aug 2023 to Jul 2026. Oil output fell 29% over the last 12 months. 34,656 bbl in the 12 months through Jul 2026, against 49,060 bbl in the 12 months before.Last 12 months: 34,656 bblbbl per monthmcf per month002,0005,0004,00010k6,00015k8,00020k10k25kOct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
Oil output fell 29% over the last 12 monthsMonthly oil production and gas for WOLF UNIT, Aug 2023 to Jul 2026. Oil output fell 29% over the last 12 months. 34,656 bbl in the 12 months through Jul 2026, against 49,060 bbl in the 12 months before.Last 12 monthsbbl per monthmcf per month002,0005,0004,00010k6,00015k8,00020k10k25kJan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, oil lease 23462, district 03. 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.

80% of the gas went to a transmission line in the last 12 months

Flaring peaked at 79.2% of the gas in Jan 2024.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
80% of the gas went to a transmission line in the last 12 monthsShare of WOLF UNIT gas by disposition code each month, Aug 2023 to Jul 2026. 80% of the gas went to a transmission line in the last 12 months. Flaring peaked at 79.2% of the gas in Jan 2024.Share of the lease’s gas by disposition code, per month0%50%100%Flared 79.2%Oct 23Jan 24AprJulOctJan 25AprJulOctJan 26AprJul
80% of the gas went to a transmission line in the last 12 monthsShare of WOLF UNIT gas by disposition code each month, Aug 2023 to Jul 2026. 80% of the gas went to a transmission line in the last 12 months. Flaring peaked at 79.2% of the gas in Jan 2024.Share of gas by disposition code0%50%100%Flared 79.2%Jan 24JulJan 25JulJan 26Jul

SourceTexas Railroad Commission Production Data Query, gas disposition by code, lease 23462, district 03. 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.

Over the last 12 months, 17.2% of the gas was flared. 32 months went above 3%, which we mark in the ledger below.

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.

The operator changed 2 times, most recently in Dec 2023

If your statements skip or shrink around a change, ask the new operator's owner relations department whether the month is in suspense.

Operators of this lease over timeTreadstone Energy Prtnr Op, LLC, Jan 2020 to Nov 2021; LRR Pecos Valley, LLC, Dec 2021 to Nov 2023; Magnolia Oil & Gas Operating LLC, Dec 2023 to Jul 20262020202120222023202420252026Changed Dec 2021Changed Dec 2023Treadstone Energy Prtnr Op, L…Jan 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, Jan 2020 to Nov 2021; LRR Pecos Valley, LLC, Dec 2021 to Nov 2023; Magnolia Oil & Gas Operating LLC, Dec 2023 to Jul 20262020202120222023202420252026Changed Dec 2021Changed Dec 2023Treadstone Energy Prtnr Op, LLCJan 2020 to Nov 2021LRR Pecos Valley, LLCDec 2021 to Nov 2023Magnolia Oil & Gas Operating LLCDec 2023 to now

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

Wells

3 wells on this lease

Every well the Railroad Commission links to oil lease 23462 in district 03. The API number is the state’s ID for a well.
Wells on WOLF UNIT
API numberWell no.Status
42-331-334911Active
42-331-350513HAActive
42-331-351114HAActive

SourceTexas Railroad Commission Wellbore Query, district 03, lease 23462.

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

    Energy Trans Crude Marketing LLC and 4J Energy, LLC gather it.

    Energy Trans Crude Marketing LLC gathers it: 75% of it, on the list since Jul 1, 2021 · 4J Energy, LLC gathers it: 25% of it, on the list since Jul 1, 2021

  • Gas from oil wells

    Energy Transfer Company buys and gathers it.

    Energy Transfer Company buys it: 100% of it, on the list since Nov 1, 2016 · Energy Transfer Company gathers it: 100% of it, on the list since Jul 7, 2016

Companies that used to be listed: Buckhead Midstream, LLC (gathers it, until Jul 1, 2021); Shell Trading (Us) Company (gathers it, until Jul 1, 2021); Sunoco Ptnrs. Mktg.&terminals LP (gathers it, until Jul 1, 2021); Texican Crude&hydrocarbons, LLC (gathers it, until Jul 1, 2021); Buckhead Midstream, LLC (gathers it, until Jul 1, 2020); Shell Trading (Us) Company (gathers it, until Jul 1, 2020).

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

1,090.86 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
33 not plugged
Horizontal
3
First completion
Feb 9, 1998
Latest permit
Oct 1, 2021

A pooling certificate was filed

Your tract may share its production with neighbours in a pooled unit. The unit acres the operator uses to divide production can differ from the acreage on one permit.

The wells on this lease state different acreage

The permits state between 1,090.86 and 1,336.8 acres. Use the acres from your own division order for the well you are paid on.

Wells and acres on the permits for Wolf Unit
API numberWell no.Acreson the permit
42-331-351114HA1,090.86
42-331-350513HA1,090.86
42-331-3349111,336.80

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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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 WOLF 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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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 WOLF UNIT
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3Flaredmcf, code 4WTI$ per bblHenry Hub$ per MMBtu
Jul 2026Magnolia Oil2,9453,05515,11114,269314$80.46$2.89
Jun 2026Magnolia Oil2,0702,16313,08512,346181$84.81$3.15
May 2026Magnolia Oil2,6602,70711,70310,780380$102.13$2.94
Apr 2026Magnolia Oil2,5532,50613,91013,198150$100.32$2.77
Mar 2026Magnolia Oil2,4602,48913,98413,016359$91.38$3.04
Feb 2026Magnolia Oil2,5492,63512,99210,3332,398$64.51$3.62
Jan 2026Magnolia Oil3,0262,78412,8378,6663,923$60.04$7.72
Dec 2025Magnolia Oil3,1283,17613,2309,3213,670$57.97$4.26
Nov 2025Magnolia Oil3,0762,95612,9508,3434,367$60.06$3.79
Oct 2025Magnolia Oil3,3683,35513,88310,5913,044$60.89$3.19
Sep 2025Magnolia Oil3,4113,52213,3408,8644,252$63.96$2.97
Aug 2025Magnolia Oil3,4103,35712,1347,4794,407$64.86$2.91
Jul 2025Magnolia Oil3,3123,50913,11710,1002,801$68.39$3.20
Jun 2025Magnolia Oil3,5163,42713,8289,9963,592$68.17$3.02
May 2025Magnolia Oil3,5983,50913,9669,2104,524$62.17$3.12
Apr 2025Magnolia Oil3,9744,01014,2109,1314,839$63.54$3.42
Mar 2025Magnolia Oil4,3354,41415,3198,4176,662$68.24$4.12
Feb 2025Magnolia Oil3,7713,68614,0578,8265,103$71.53$4.19
Jan 2025Magnolia Oil4,7954,98019,48814,0984,954$75.74$4.13
Dec 2024Magnolia Oil4,7344,57919,68514,8833,275$70.12$3.01
Nov 2024Magnolia Oil4,7564,77119,39512,6635,226$69.95$2.12
Oct 2024Magnolia Oil2,7672,81614,1995,1667,801$71.99$2.20
Sep 2024Magnolia Oil5,0344,80220,21911,1257,724$70.24$2.28
Aug 2024Magnolia Oil4,4684,57117,80910,4715,956$76.68$1.99
Jul 2024Magnolia Oil5,0404,93920,83412,6096,775$81.80$2.07
Jun 2024Magnolia Oil4,9844,91119,56011,7296,436$79.77$2.54
May 2024Magnolia Oil5,4815,63020,33612,8416,057$80.02$2.12
Apr 2024Magnolia Oil5,5515,60920,69013,5015,795$85.35$1.60
Mar 2024Magnolia Oil6,4476,32722,87614,5866,847$81.28$1.49
Feb 2024Magnolia Oil5,4345,72218,41411,1795,958$77.25$1.72
Jan 2024Magnolia Oil2,9062,9097,27305,761$74.15$3.18
Dec 2023Magnolia Oil6,1356,18514,8164,7698,536$71.90$2.52
Nov 2023LRR Pecos6,5276,22118,63312,0735,207$77.69$2.71
Oct 2023LRR Pecos6,0136,22018,69511,9325,428$85.64$2.98
Sep 2023LRR Pecos6,7336,53222,40713,8917,040$89.43$2.64
Aug 2023LRR Pecos7,4977,67122,05911,9918,524$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 LLCFieldGiddings (Austin Chalk-3)CountyMilam County

Magnolia Oil & Gas Operating LLC in Milam County

All Magnolia Oil & Gas Operating LLC leases →

Giddings (Austin Chalk-3) field

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Leases within 10 km

Found by the location of their wells.

  • STEWART A

    8,815 bbl last 12 months · 0 km away

  • GRAIDEN

    14,775 bbl last 12 months · 0 km away

  • ROBYN

    5,459 bbl last 12 months · 0 km away

  • WOLF "A" UNIT

    903 bbl last 12 months · 0.8 km away

  • STEWART UNIT

    1,830 bbl last 12 months · 0.9 km away

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 23462, district 03, 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.