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KEYS UNIT

Operated by MAGNOLIA OIL & GAS OPERATING LLC (P-5 521544) in the SUGARKANE (AUSTIN CHALK) field. Every figure below is a volume the Railroad Commission published, multiplied by a monthly price you can check.

Oil lease lease 12003District 02Field 86950300OilCasinghead gasSaveExport
Value, all time
$70.0 M
Feb 2020 – May 2026
Value, last 12 filed months
$3.8 M
at the published price for each month
Months reported
76
no gaps in the span
Streams
2
oil, casinghead gas

The SUGARKANE (AUSTIN CHALK) field

The Railroad Commission's own record for the field this lease produces from, including the spacing rule that governs how close together its wells may be drilled.

These are facts about the field, not about this lease. The field holds 527 leases and 806 wells, and the rule below applies to all of them.

Discovered
2006-09-07
as the register files it
Field class
Oil and gas
the register's own label
Between wells
0 ft
minimum
From a lease line
330 ft
minimum

A drilling unit in this field needs at least 80 acres. The field rule took effect on 2016-01-12.

The Commission's schedule remark for this field reads: “ INTO SUGARKANE (AUSTIN CHALK) EFF. 11/07/17.”

What this lease produced, and what it was worth

Oil and condensate are valued on the volume the state records as disposed of; gas and casinghead gas on the volume produced. They are different columns of different files, and the difference is not cosmetic.

StreamBasisVolumeValue
OilDisposition1,009,651 bbl$53,257,377
Casinghead gasProduction4,781,395 Mcf$16,739,565
Total$69,996,941

Wells on this lease (3)

Every wellbore the Railroad Commission records against this lease key, with the depth, the last completion and the plug date exactly as filed. A well with no plug date is not stated to be producing — the state files no such flag.

These wells centre on 29.0418, -97.8297. A lease has no coordinate of its own — that point is the mean of its wells, and they span 0.3 miles.

29.04168, -97.82966 · centre of the wells drawn, derived

What these wells add up to

Every figure below is counted over all of this lease's wells, not over the rows listed above. The Railroad Commission files two facts about a well's state — a plug date and a proration-schedule flag — and a well can carry both, so they are published as separate counts and never merged into a status.

On the schedule
0.0%
0 of 3 wells
With a plug date
0.0%
0 of 3 wells
Median depth
10,386 ft
3 wells filed one
Completion to plug
—
no well filed both dates

What the state filed about each well

On the RRC proration schedule
00.0%
A plug date is filed
00.0%
BothOn the schedule and plugged. Neither fact cancels the other.
00.0%
NeitherNo plug date, and not on the schedule.
3100.0%

A plug date is the date the Commission recorded the wellbore as sealed with cement and abandoned. It is the only end-of-life fact Texas files. There is no "active" flag on a well, so this page does not print one — a well with no plug date is not stated to be producing.

How deep they were drilled

Between 10,358 and 10,421 ft, median 10,386 ft, over the 3 wells that filed a depth.

Completions filed
Feb 2020
3 of 3 wells

3 wells

42-25536587102H10,358 ftFeb 2020——
42-25536588104H10,386 ftFeb 2020——
42-25536589106H10,421 ftFeb 2020——

The API number is the state's, prefixed 42 for Texas. A well is matched to this lease by the lease key the Commission files on the wellbore record, so a well that has moved between leases appears under each one it was filed against.

Every month this lease reported (76)

Volume × price = value, one row per cycle. The price columns are the same series published on the prices page — nothing here is modelled.

76 months

May 20262,97529,357106.413.05$405,986
Apr 20262,70727,35898.932.87$346,313
Mar 20262,71924,85089.753.15$322,294
Feb 20262,38723,97763.503.75$241,496
Jan 20262,76724,05959.138.00$356,035
Dec 20252,74329,04156.664.41$283,587
Nov 20252,23024,02958.593.93$225,004
Oct 20252,55129,75859.383.30$249,824
Sep 20252,76031,75662.743.08$270,873
Aug 20253,46134,75163.933.01$326,028
Jul 20254,25934,90966.743.32$399,976
Jun 20254,54534,17366.483.13$409,069
May 20253,93732,53560.553.23$343,549
Apr 20253,06031,02662.363.54$300,750
Mar 20253,09532,87367.704.27$349,844
Feb 20253,34640,33570.884.34$412,252
Jan 20254,14443,10074.324.28$492,393
Dec 20244,45943,39368.993.12$443,072
Nov 20243,69144,05869.052.20$351,722
Oct 20244,12947,10471.372.28$402,150
Sep 20243,71743,77069.612.36$362,228
Aug 20244,06452,47575.632.06$415,649
Jul 20244,34453,54979.932.15$462,164
Jun 20244,32951,18378.082.63$472,823
May 20244,62950,30078.812.20$475,393
Apr 20244,70348,99584.451.66$478,461
Mar 20244,91749,17580.301.55$470,817
Feb 20244,81546,19576.091.78$448,769
Jan 20244,37648,80773.023.30$480,484
Dec 20235,71653,98771.262.61$548,267
Nov 20235,44551,41277.892.81$568,453
Oct 20235,52062,43185.443.09$664,371
Sep 20235,22665,56589.042.74$644,646
Aug 20235,654080.522.67$455,260
Jul 20235,67468,88874.852.64$606,687
Jun 20235,66861,28968.962.26$529,285
May 20236,23165,15670.622.23$585,162
Apr 20237,37570,03378.122.24$732,852
Mar 20238,42472,03172.852.39$786,070
Feb 20237,96764,06375.112.47$756,360
Jan 20239,86372,55176.533.39$1,000,598
Dec 20229,59872,26076.415.73$1,147,367
Nov 20229,90475,71485.005.65$1,269,336
Oct 20228,79681,19887.185.86$1,242,961
Sep 20229,14575,46684.888.16$1,392,308
Aug 202215,07376,38094.529.13$2,121,832
Jul 202215,03176,826101.587.54$2,106,277
Jun 202215,55656,334115.097.98$2,239,728
May 20221,6285,021109.378.43$220,397
Apr 20221400104.226.84$14,591
Mar 20228,50860,647108.885.08$1,234,219
Feb 202210,54575,26991.054.86$1,325,842
Jan 202211,02683,11281.844.54$1,279,504
Dec 202112,45192,36671.323.90$1,248,151
Nov 202110,25379,52577.435.24$1,210,350
Oct 202111,099106,10679.795.71$1,491,865
Sep 202110,805103,61169.865.35$1,309,251
Aug 202112,875110,09266.024.22$1,314,661
Jul 202114,821110,12670.783.98$1,487,561
Jun 202116,19389,22269.493.38$1,426,877
May 202120,062100,74763.483.02$1,577,557
Apr 202116,75264,59560.362.76$1,189,331
Mar 202114,28754,72061.302.72$1,024,464
Feb 202116,92160,86457.805.55$1,315,704
Jan 202122,567100,40850.412.81$1,419,776
Dec 202025,834106,45644.642.68$1,438,049
Nov 202027,451105,68638.772.71$1,350,322
Oct 202030,876108,91336.972.48$1,411,419
Sep 202032,43294,82937.091.99$1,391,711
Aug 202040,794103,85939.982.39$1,878,658
Jul 202048,455103,85938.371.83$2,048,773
Jun 202054,112103,01934.901.69$2,062,643
May 202070,271120,01716.921.81$1,406,786
Apr 202074,379123,20614.751.80$1,319,401
Mar 202074,580115,89230.341.86$2,477,879
Feb 202051,80970,75349.881.98$2,724,371

How to read this page

The arithmetic is one multiplication per stream per month. Here it is, worked, on a real row from the table above.

May 2026 — as filed, then multipliedworked
Oil                2,975 bbl  × $106.41 =   $316,570
Casinghead gas    29,357 Mcf  × $  3.05 =    $89,417

────────────────────────────────────────────────────
Month total                                 $405,986

The volumes are the state's, unchanged

Every barrel and every Mcf on this page is a number the Railroad Commission of Texas published in its monthly production query. Nothing is modelled, estimated or filled in.

The dollars are a multiplication, not a valuation

Volume × a published monthly price. It is not what the operator was paid: it takes no account of a contract, a differential, a transportation deduction, or the share any one owner holds.

Oil and gas are priced differently

Oil is a Texas realisation — the crude oil first purchase price. Gas is a benchmark, because no free Texas wellhead gas series exists at any date. The prices page publishes the difference rather than correcting it away.

A lease is not a well

The state reports oil on lease and gas on well, and this page is the lease grain. 02/O/12003 is the state's own key, not one this site invented.