ELEPHANT RED
ELEPHANT RED is a Texas gas lease in Washington 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 September 2023 to August 2026, totalling 2,110,209 thousand cubic feet. 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 $5.2M, with roughly $2.4M 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 39,198 thousand cubic feet a month. Its strongest month on the record we hold was October 2023, at 154,583 thousand cubic feet. 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 ELEPHANT RED
- Who operates ELEPHANT RED?
- ELEPHANT RED is operated by Magnolia Oil & Gas Operating LLC, Railroad Commission of Texas operator number 521544.
- Where is ELEPHANT RED?
- ELEPHANT RED is a Texas gas lease in Washington County, Texas, in Railroad Commission district 03. Its Railroad Commission lease number is 298951.
- Is ELEPHANT RED still producing?
- ELEPHANT RED is currently producing. The most recent month of production reported to the Railroad Commission of Texas for ELEPHANT RED is August 2026.
- How much has ELEPHANT RED produced?
- ELEPHANT RED has reported 2,110,209 thousand cubic feet of gas (Mcf) to the Railroad Commission of Texas between September 2023 and August 2026, from 1 wellbore.
- How much is ELEPHANT RED worth?
- The remaining production from ELEPHANT RED is estimated to be worth about $5.2M in total as of 27 August 2026, within a range of $4.3M to $6.1M. That figure is the whole lease, undivided — not any one owner's share. A royalty interest in ELEPHANT RED is a fraction of it. The estimate fits an Arps decline curve to the production ELEPHANT RED has already reported, prices the remaining production at the current forward strip, and discounts it at 12% a year. The figure shown for ELEPHANT RED is an estimate of value, not an offer and not an appraisal.
- How much income does ELEPHANT RED generate in a year?
- ELEPHANT RED is forecast to net about $2.4M across the whole undivided lease over the twelve months following 27 August 2026, before income tax. A royalty owner in ELEPHANT RED 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 (Austin Chalk, Gas) |
| County | Washington County, Texas |
| RRC district | 03 |
| Lease number | 298951 |
| Wellbores | 1 |
| Reported production | 2,110,209 mcf |
| First reported | |
| Last reported | |
| Estimated royalty value | $5.2M |
Where ELEPHANT RED 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.