This paper presents physical lumped element models for the structures employing a split-ring resonator (SRR) coupled with a pair of microstrip antennas. The results of 3D EM simulations, circuit simulations and measurement results are provided. For experimental verification, a resonator device was fabricated on an FR4 epoxy glass substrate. Mismatch between the values of resonant frequency that are predicted by the models and that are measured is less than 3%. As a benchmarking case for the proposed model, a reference oscillator was designed and implemented. A phase noise of −139.51 dBc/Hz at 3 MHz frequency offset was measured with a center frequency of 1.617 GHz.