Sell Mineral Rights in Texas

Texas isn't one mineral market, it's five. We underwrite each play on its own terms before a number ever goes on the table.

No other state we cover has this much variety under one name. Texas mineral ownership spans the Permian basin's Midland and Delaware sub-basins across the west, the Eagle Ford's oil and condensate windows through Karnes and DeWitt counties in the south, the Haynesville's deep, hot dry gas in Harrison and Panola counties near the Louisiana line, the legacy Barnett shale gas fields around Tarrant, Johnson, and Parker counties, and the older Anadarko basin trend up in the Texas Panhandle around Hemphill and Wheeler counties.

Each of these is a genuinely different asset class, and packages compete hardest for capital in the core counties of the most active plays. Our desk prices the specific play, specific bench, and specific decline stage in front of us, not a statewide average that would misprice almost every real Texas tract.

Permian Basin: Multi-Bench Underwriting

Midland County and its neighbors Martin, Howard, and Reagan sit in the Midland basin, while Loving, Reeves, and Culberson counties anchor the Delaware basin to the west. Both are stacked-pay provinces, meaning a single spacing unit can hold multiple productive intervals, Wolfcamp A through D, Spraberry, and Bone Spring among them, each capable of being developed independently.

This is the core reason Permian packages need bench-by-bench review rather than a single blended number. An owner can be receiving royalty from a Wolfcamp A well while three or four other benches under the same acreage remain completely untested, and that undrilled inventory carries real, separately-priced value in a basin where operators are still actively competing for core acreage.

Eagle Ford: Oil Window Versus Condensate Window

Karnes and DeWitt counties sit in the Eagle Ford's condensate and volatile oil window, generally the most productive part of the trend, while acreage further northwest trends toward drier gas. Wells here were mostly drilled in the 2010-2015 window, so most Eagle Ford interests we evaluate today are mature, several years into decline rather than early flush production.

We check which window a specific tract falls in before valuing it, since condensate-rich acreage in the Eagle Ford's sweet spot has historically outperformed the play's gassier fringes by a wide margin on a per-lateral-foot basis.

Haynesville: Deep, Hot, and Gas-Priced

Harrison and Panola counties sit in the Texas portion of the Haynesville, a deep, high-pressure, high-temperature dry gas play that's more sensitive to natural gas pricing than any oil-weighted Texas play. Well costs here run higher due to depth, and that shows up in how operators pace development relative to gas price cycles.

Because Haynesville economics move directly with gas prices, we weight recent pricing trends more heavily in a Haynesville valuation than we would in an oil-weighted Permian or Eagle Ford package.

Barnett and Texas Panhandle: Legacy Gas Assets

The Barnett shale around Tarrant, Johnson, and Parker counties was one of the first major shale gas plays in the country and is now firmly in its mature, late-decline phase, with little new drilling. The Texas Panhandle's Anadarko basin trend around Hemphill and Wheeler counties carries a mix of older conventional production and some newer horizontal activity.

Both are legacy-production markets more than growth stories at this point, and we value them accordingly, weighting historical decline consistency over speculative new development that isn't materializing at scale in either area right now. Where a Panhandle tract carries both an old vertical well and a newer horizontal well on the same lease, we price the two streams separately rather than blending a declining conventional interval with a fresher unconventional one.