Sell Mineral Rights
in Chaves County,
New Mexico.
Chaves County sits on the Northwest Shelf of the Permian Basin. The geology here is shallower and more conventional than the Wolfcamp-driven counties to the south, with long-life San Andres and Yeso production carrying many leases for decades. If you own minerals here, we are happy to help you understand what you have.
The shallower side
of the Permian.
Chaves County is one of the largest counties by area in New Mexico, stretching across the southeastern part of the state with Roswell at its center. Geologically, Chaves sits on the Northwest Shelf of the Permian Basin, which is the shallower carbonate platform that wraps around the deeper Delaware sub-basin to the south.
Where Lea and Eddy Counties to the south are defined by deep, thick unconventional Wolfcamp and Bone Spring development, Chaves is defined by shallower, mostly conventional production. The San Andres formation has been produced across Chaves for many decades, with vertical wells supporting steady, slow-declining oil production. Above the San Andres, the Yeso also produces in parts of the county. Closer to the southern county line, where the basin begins to deepen toward Eddy, Bone Spring activity has crept north into parts of Chaves.
If you own minerals in Chaves, what you have likely looks different from what someone in Lea County has. You may have a position with decades of producing San Andres history, a recent shallow horizontal lease, an undeveloped tract waiting on a leasing cycle, or something in between. This page walks through the rock, the operators, the geography, valuation, and the regulatory landscape, including the substantial role of the New Mexico State Land Office.
Have minerals in Chaves County? Send us what you have and we will take a look.
Conventional carbonates
and a touch of Bone Spring.
Chaves County's productive geology is dominated by the San Andres carbonate, with the shallower Yeso above it and selective Bone Spring activity along the southern county line. This is a different stack than the deeper Wolfcamp-driven inventory of Lea and Eddy. Wells tend to be shallower, longer-lived, and more conventional in nature.
The San Andres is the dominant producing formation across much of Chaves County. It is a shallow carbonate that has produced oil across the Northwest Shelf for many decades, with a significant portion of historical New Mexico oil production coming from San Andres reservoirs across this part of the state.
For mineral owners, San Andres production tends to behave differently than Wolfcamp production. Wells are shallower, often vertical, and many have been on production for a long time with relatively shallow decline curves. Some operators have pursued horizontal San Andres development as well. Royalty income from San Andres wells is typically more stable and longer-lived than the steeper-decline modern horizontals to the south.
Above the San Andres sits the Yeso (and the related Glorieta), another shallow carbonate interval that produces in parts of Chaves County. The Yeso has been a significant target across the broader Northwest Shelf, with both vertical and selective horizontal development depending on the area.
For mineral owners, Yeso production often coexists with San Andres production on the same lease, sometimes in the same wellbore, with operators commingling production where regulators allow. Long-term Yeso wells can carry leases for many years even at modest production rates.
The Bone Spring is the dominant unconventional target in the Delaware sub-basin to the south, and the play extends north into the southern part of Chaves County where the basin geometry permits. This is not the dominant story in Chaves the way it is in Eddy or Lea, but operators have selectively pursued Bone Spring locations in southern Chaves, particularly along the Eddy County line.
For mineral owners in southern Chaves, the practical implication is that your tract may carry both shallower San Andres or Yeso potential and deeper Bone Spring optionality. Mineral owners further north in the county generally do not have meaningful Bone Spring exposure.
Who is drilling on your
Chaves County minerals.
The operator landscape in Chaves is more fragmented than in Lea or Eddy, with a mix of long-time conventional operators, smaller independents, and the occasional larger Permian player working the southern part of the county. The list below covers some of the more visible names, but many smaller operators also hold leases here.
We know how operators develop in Chaves County. Happy to give you context on yours.
Not all Chaves County
minerals are built the same.
Chaves is a very large county, covering roughly 6,000 square miles. Productive areas are mostly concentrated in the eastern and southeastern parts of the county, with the western half stretching into ranch country and the foothills toward Lincoln County. Where in Chaves your minerals sit shapes everything from formation depth to operator activity.
What your Chaves County
mineral rights are worth.
Valuation in Chaves County reflects the conventional, long-life nature of most production here. Multiples are generally lower than in the deep Delaware core to the south, but stable San Andres production can carry meaningful long-term value. The four scenarios below cover what we see most often.
We would rather look at real facts than speak in generalities. Send us what you have.
New Mexico rules,
Northwest Shelf realities.
Chaves County operates under the New Mexico oil and gas regime, administered primarily by the New Mexico Oil Conservation Division. The on-the-ground realities reflect the substantial role of the New Mexico State Land Office as a mineral owner, BLM administration of federal minerals through the Roswell and Carlsbad field offices, and increasingly active state-level regulation around methane emissions and water use.
The NMOCD and how spacing works
The New Mexico Oil Conservation Division (NMOCD), part of the Energy, Minerals and Natural Resources Department, regulates oil and gas activity on state and private minerals in Chaves County. NMOCD permits wells, conducts hearings on spacing and unitization applications, and maintains the public well database. Spacing patterns in Chaves often reflect the legacy conventional development, with smaller spacing units typical for older vertical San Andres development and larger units for selective horizontal projects.
The New Mexico State Land Office and trust lands
The New Mexico State Land Office is one of the largest mineral owners across Chaves County. State trust lands were granted to New Mexico at statehood and are held to fund public schools, universities, and other state programs. State land is leased through public auctions held by the Land Office. Royalties on state mineral production flow into the Land Grant Permanent Fund. If your minerals are adjacent to or surrounded by state acreage, the state's leasing dynamics may affect your situation.
BLM Roswell, BLM Carlsbad, and federal minerals
Federal minerals in Chaves County are administered by BLM, primarily through the Roswell Field Office, with portions of the southern county also touching BLM Carlsbad jurisdiction. Federal lease sales are conducted quarterly. Standard federal lease royalty rates are 12.5 percent for older leases and 16.67 percent for newer leases under the Inflation Reduction Act. New Mexico federal minerals are now being leased under the higher royalty rates.
Methane rules and cost deductions
New Mexico has been one of the more active states in regulating methane emissions and venting, with rules that have shaped operator economics and infrastructure investment. Royalty owners may see cost deductions related to gas processing, gathering, and compliance with state rules depending on lease language. Reading your specific lease's post-production cost language matters in New Mexico.
The real questions
mineral owners ask.
We have been through these conversations hundreds of times. Below are honest answers to the things people actually want to know.
Find out what your
Chaves County minerals
are actually worth.
Send us what you have, or what you think you have. We will pull NMOCD and BLM records, check operator activity in your section, and put together a plain-English summary with our reasoning laid out. If it makes sense to go further, we move on your timeline. If not, you have a free breakdown you can take anywhere.