TRACK JUSTIFY
TRACK JUSTIFY is a Texas oil lease in Milam County, Railroad Commission district 03, operated by Magnolia Oil & Gas Operating LLC. It has 1 wellbore on file with the Commission. Reported production runs from January 2026 to August 2026, totalling 62,250 barrels. The lease is currently producing. Fitting a decline curve to that history and pricing the remaining production at today's forward curve values the whole lease — a 100% undivided interest — at about $39.3M, with roughly $8.9M expected over the next twelve months. An individual royalty owner receives their own decimal interest times that figure. Over the last twelve months on file it averaged 13,086 barrels a month. Its strongest month on the record we hold was February 2026, at 20,389 barrels. In our own backtest, leases producing at this rate are forecast to within about 18% of what they went on to produce, and that measured error is the range shown on the page rather than a confidence of our own devising.
Key facts about TRACK JUSTIFY
- Who operates TRACK JUSTIFY?
- TRACK JUSTIFY is operated by Magnolia Oil & Gas Operating LLC, Railroad Commission of Texas operator number 521544.
- Where is TRACK JUSTIFY?
- TRACK JUSTIFY is a Texas oil lease in Milam County, Texas, in Railroad Commission district 03. Its Railroad Commission lease number is 28289.
- Is TRACK JUSTIFY still producing?
- TRACK JUSTIFY is currently producing. The most recent month of production reported to the Railroad Commission of Texas for TRACK JUSTIFY is August 2026.
- How much has TRACK JUSTIFY produced?
- TRACK JUSTIFY has reported 62,250 barrels of oil (bbl) to the Railroad Commission of Texas between January 2026 and August 2026, from 1 wellbore.
- How much is TRACK JUSTIFY worth?
- The remaining production from TRACK JUSTIFY is estimated to be worth about $39.3M in total as of 26 August 2026, within a range of $32.2M to $46.4M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in TRACK JUSTIFY is a fraction of it. The estimate fits an Arps decline curve to the production TRACK JUSTIFY has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for TRACK JUSTIFY is an estimate of value, not an offer and not an appraisal.
- How much income does TRACK JUSTIFY generate in a year?
- TRACK JUSTIFY is forecast to net about $8.9M across the whole undivided lease over the twelve months following 26 August 2026, before income tax. A royalty owner in TRACK JUSTIFY receives a fraction of that, set by the decimal interest printed on their check stub.
Lease record
| Operator | Magnolia Oil & Gas Operating LLC |
|---|---|
| Field | Giddings (Eagleford) |
| County | Milam County, Texas |
| RRC district | 03 |
| Lease number | 28289 |
| Wellbores | 1 |
| Reported production | 62,250 bbl |
| First reported | |
| Last reported | |
| Estimated royalty value | $39.3M |
Where TRACK JUSTIFY sits
Source: Railroad Commission of Texas lease production records, complete through . Figures on this page were computed on .
Production figures are as reported to the Railroad Commission of Texas. The value shown is an estimate produced by fitting a decline curve to that reported history; it is not an offer or an appraisal. How this estimate is calculated.