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Texas oil lease

Producing

TRACK JUSTIFY

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

1 well

82,550bbl oil, since Jan 2026
Operator
Magnolia Oil & Gas Operating LLC
County
Milam County
Field
Giddings (Eagleford)
RRC lease
03-28289

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Where it sits

This county

Milam CountyMilamFallsBellWilliamsonBrazosBurlesonRobertsonMilam County
Milam County
Gas, since Jan 2026
17,892 mcf
Oil in Jul 2026
9,243 bbl
First check

Production started January 2026; the first check is due by about May 31, 2026 (estimate).

When is my first royalty check due?

Production by month

Oil output fell 27% since Jan 2026

  • Oil (bars)
  • Gas (line)
Oil output fell 27% since Jan 2026Monthly oil production and gas for TRACK JUSTIFY, Jan 2026 to Jul 2026. Oil output fell 27% since Jan 2026. Monthly average of 10,068 bbl in the latest 3 months, against 13,810 bbl in the first 3.bbl per monthmcf per month005,0002,00010k4,00015k6,00020k8,00025k10kOct 25Jan 26AprJul
Oil output fell 27% since Jan 2026Monthly oil production and gas for TRACK JUSTIFY, Jan 2026 to Jul 2026. Oil output fell 27% since Jan 2026. Monthly average of 10,068 bbl in the latest 3 months, against 13,810 bbl in the first 3.bbl per monthmcf per month005,0002,00010k4,00015k6,00020k8,00025k10kJan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

Where the gas went

55% of the gas went to a transmission line in the 6 months reported

Flaring peaked at 98.8% of the gas in Jan 2026.

  • Transmission line (2)
  • Lease fuel (1)
  • Flared (4)
55% of the gas went to a transmission line in the 6 months reportedShare of TRACK JUSTIFY gas by disposition code each month, Jan 2026 to Jul 2026. 55% of the gas went to a transmission line in the 6 months reported. Flaring peaked at 98.8% of the gas in Jan 2026.Share of the lease’s gas by disposition code, per month0%50%100%Flared 98.8%Oct 25Jan 26AprJul
55% of the gas went to a transmission line in the 6 months reportedShare of TRACK JUSTIFY gas by disposition code each month, Jan 2026 to Jul 2026. 55% of the gas went to a transmission line in the 6 months reported. Flaring peaked at 98.8% of the gas in Jan 2026.Share of gas by disposition code0%50%100%Flared 98.8%Jan 26Jul

SourceTexas Railroad Commission Production Data Query, through Jul 2026.

  • Transmission line (2)

    55% · 9,835 mcf

  • Flared (4)

    43% · 7,699 mcf

  • Lease fuel (1)

    2.0% · 358 mcf

43.0% of the gas flared in the 6 months reported. 6 months above 3%.

1 well on this lease

Wells on TRACK JUSTIFY
API numberWell no.Status
42-331-351322HEActive

SourceTexas Railroad Commission Wellbore Query.

Buyers and gatherers

Companies named on the Form P-4, by product
CompanyProductRoleShare%From
Energy Trans Crude Marketing LLCOilGathers34Jan 1, 2026
Enterprise Crude Oil LLCOilGathers33Jan 1, 2026
Shell Trading (Us) CompanyOilGathers33Jan 1, 2026
Magnolia Oil & Gas Operating LLCCasinghead gasBuys100Jan 1, 2026
Hilcorp Freestone Gas Services,Casinghead gasGathers100Jan 1, 2026

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

Who buys my oilOil price check

1,921.68 acres on the newest permit

  • Worth asking

    An allocation well is on this lease

    A well drilled across several tracts shares its production by an allocation formula, so the decimal is not always your acres over the unit acres. Ask the operator for the allocation formula and the tract factor for your land.

Check your decimal on this lease
Permits for Track Justify
API numberWell no.Acreson the permit
42-331-351322HE1,921.68

SourceRailroad Commission drilling permits, Oct 3, 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

7 months, newest first

Ledger for TRACK JUSTIFY
MonthOil producedbblOil soldbblGas producedmcfGas soldmcf, codes 2+3FlaredmcfWTI$/bblHenry Hub$/MMBtu
Jul 20269,2439,1142,7712,497221$80.46$2.89
Jun 202611,05711,69372563574$84.81$3.15
May 20269,9059,368000$102.13$2.94
Apr 202610,91410,7662,6562,487108$100.32$2.77
Mar 202613,71813,7564,1203,741275$91.38$3.04
Feb 202620,38920,9695,3734754,802$64.51$3.62
Jan 20267,3246,6012,24702,219$60.04$7.72

Flared above 3%

SourceTexas Railroad Commission Production Data Query, through Jul 2026. Prices: EIA, through Aug 2026. Updated Oct 2, 2026.

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Nearby

This lease belongs to

OperatorMagnolia Oil & Gas Operating LLCFieldGiddings (Eagleford)CountyMilam County

Magnolia Oil & Gas Operating LLC in Milam County

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Giddings (Eagleford) field

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