Home / Where We Buy / Texas / Loving County
Texas · Permian Basin · Northern Delaware Core

Sell Mineral Rights
in Loving County,
Texas.

Loving County is the least populated county in the United States and one of the most active oil counties in the world. Almost everything that happens on the ground here is oil and gas. If you own mineral rights in Loving, you are sitting in the heart of the Northern Delaware Basin core. We are happy to help you understand what you have.

~670sq mi
County Area
Northern Delaware
~10,000ft
Wolfcamp Depth
typical TVD
10,000ft
Standard Lateral
with longer pilots
Multiple
Stacked Targets
Wolfcamp A/B, Bone Spring, Avalon
Least
Populated US County
Mentone, county seat
01 The Basin

A county built almost
entirely on oil and gas.

Loving County sits in far west Texas, on the New Mexico state line, in the heart of the Northern Delaware sub-basin of the Permian. It has the smallest population of any county in the United States, typically reported in the range of 60 to 100 residents. The county seat, Mentone, is essentially a courthouse, a school, and a handful of buildings. Everything else is oilfield.

That demographic reality is a direct function of the geology. The Northern Delaware Basin under Loving County is one of the thickest, most stacked unconventional reservoir sections in the country. Operators have been drilling here at scale since the early 2010s, and Loving has become a meaningful contributor to total US oil production despite covering only about 670 square miles. Together with neighboring Reeves, Ward, and Winkler counties, it forms the most active part of the Texas side of the Delaware Basin.

Loving County is unusual in American life. Almost no one lives here, but the rock under it is among the most valuable real estate in the oil and gas business.

If you are reading this, you may own a piece of that rock. Maybe your family has held the minerals for generations through old ranch chains. Maybe you inherited from a grandparent and have only a vague idea of what is there. Maybe you are receiving royalty checks from a name like Continental, Centennial, Mewbourne, or XTO and wondering what the underlying interest is actually worth. This page walks through the geology, the operators, the geography of the county, valuation, and the regulatory landscape.

Starting point

Have minerals in Loving County? Send us what you have and we will take a look.

Send Us the Details →
02 The Rock

Stacked pay across the
Northern Delaware.

The productive section under Loving County is unusually thick. The Wolfcamp formation, divided into Wolfcamp A, B, C, and D benches, is the deepest active target. Above it sit the three Bone Spring sands, then the Avalon shale. Modern operators routinely develop multiple zones from the same surface pad, with some pads supporting more than ten wells targeting different formations.

Wolfcampprimary unconventional target

The Wolfcamp under Loving County is the deepest and most consistently productive unconventional target. It is divided into multiple distinct benches (Wolfcamp A, B, C, and D), each capable of supporting horizontal development. Wolfcamp A and B are the primary current targets, with operators drilling multiple horizontals per unit across the two benches.

For mineral owners, Wolfcamp development typically means multiple wells per unit drilled over the life of development, with each well representing a separate revenue stream tied to the same minerals. Modern Wolfcamp completions use very large amounts of proppant and have steeper initial decline curves than older vintage wells.

Depth Range
9,000 to 12,000 ft
Type
Calcareous mudstone
Active Benches
Wolfcamp A and B primarily
Typical Lateral
10,000 ft, longer pilots
Bone Spring1st, 2nd, and 3rd Sands

Above the Wolfcamp sit the three Bone Spring sands, each a separate horizontal target. The 2nd and 3rd Bone Spring are the most consistently developed across Loving, but the 1st Bone Spring also produces meaningfully across parts of the county. Some units have horizontals in all three Bone Spring intervals plus multiple Wolfcamp wells, leading to very high total well counts per unit.

For mineral owners, Bone Spring inventory is one of the reasons Loving County valuations carry strong multiples. The depth of remaining locations across multiple intervals supports continued royalty income for many years even after early Wolfcamp development is complete.

Depth Range
7,500 to 10,000 ft
Type
Mixed sandstones and shales
Active Sands
1st, 2nd, 3rd
Status
Heavily developed
Avalon & Shallower Targetssecondary horizons

Above the Bone Spring, the Avalon shale produces in parts of Loving County. The Avalon has been an inconsistent horizontal target across the basin but produces well in certain areas. Older vertical production from shallower zones still continues across many parts of the county, with legacy wells dating back decades in some cases.

The practical implication for mineral owners is that even units with extensive Wolfcamp and Bone Spring development may have additional inventory in shallower zones, plus legacy vertical production that continues to generate income.

Avalon Depth
~7,000 ft
Status
Selective horizontal, legacy vertical
Where Active
Variable across county
Owner Implication
Optionality on additional zones
03 The Operators

Who is drilling on your
Loving County minerals.

The Permian operator landscape consolidated dramatically through 2023 and 2024, with multiple multi-billion-dollar mergers reshaping the operator list. The operators below are leaders in current Loving County activity, but Loving has additional meaningful operators beyond this list.

i.
ExxonMobil / XTO Energy
ExxonMobil holds substantial acreage across the Northern Delaware through XTO Energy and the 2024 acquisition of Pioneer Natural Resources. While Pioneer's strongest position was in the Midland Basin, the combined ExxonMobil position now stretches across both sub-basins of the Permian, with meaningful Wolfcamp and Bone Spring inventory in Loving and surrounding counties.
Major · Pioneer legacy
Top Major Operator
ii.
Continental Resources
Continental Resources, the company founded by Harold Hamm, has built a meaningful Northern Delaware position with active drilling in Loving and surrounding counties. Continental went private in 2022 in a take-private transaction, so it now reports less detailed public information, but well permits and completions show consistent activity in Loving.
Private · Major Permian
Top 5 in Loving
iii.
Permian Resources
Permian Resources, formed by the 2022 merger of Centennial Resource Development and Colgate Energy, has built one of the largest pure-play Delaware Basin positions. The company expanded further with the 2023 acquisition of Earthstone Energy. Permian Resources holds significant Loving County acreage from the Centennial legacy and is among the most active drillers.
Public · Centennial legacy
Top 5 in Loving
iv.
Mewbourne Oil Company
Mewbourne is one of the largest private operators across the Northern Delaware, with substantial leasehold in Loving and surrounding Texas and New Mexico counties. The company has been a consistent Permian developer for decades. Privately held operators like Mewbourne report less public information than the majors, but Mewbourne's drilling pace and well results have been consistent.
Private · Major Permian
Top Private Operator
v.
Long Tail of Public and Private Operators
Loving County has additional meaningful operators including Diamondback Energy (now combined with Endeavor Energy Resources), ConocoPhillips through its Concho Resources legacy, Coterra Energy, Matador Resources, Marathon (now part of ConocoPhillips), and various private operators. Mineral owners may see different operator names on different wells within the same general area depending on which operator drilled which unit.
Mixed · Many active
Many Active Operators
See a familiar name?

We know how these operators develop in Loving County. Happy to give you context on yours.

Ask About Your Operator →
04 The Geography

Not all Loving County
minerals are built the same.

Loving County is geographically small, covering roughly 670 square miles, but productivity and operator activity vary across it. The Pecos River runs through the southwestern part of the county. Mentone, the county seat, sits roughly central. Where in the county your minerals sit shapes formation depth, operator footprint, and how soon development is likely to reach you.

Mentone Core
Central Loving
The geographic and operational center of the county. Spacing units in this area have typically seen extensive Wolfcamp and Bone Spring development, with many already at multi-vintage well counts. Remaining inventory is meaningful given the depth of stacked pay.
Activity: Highest Development: Mature, infill
Northern Loving
NM state line
Northern Loving sits on the New Mexico state line, with operator activity continuing across the border into Lea and Eddy counties. Cross-state unit considerations occasionally affect leasing dynamics for owners near the line. Wolfcamp and Bone Spring quality is generally strong across this area.
Activity: High Development: Active
Eastern Loving / Winkler Border
East county line
Eastern Loving transitions toward Winkler County and the eastern flank of the Northern Delaware. Activity here is high, with operators drilling continuously across the county boundary. Many units sit in active rotation with consistent permit flow.
Activity: High Development: Active
Southern Loving / Reeves Border
Pecos River corridor
Southern Loving runs along the Pecos River and transitions into Reeves County, the most active oil county in Texas by current production. Operators drill seamlessly across the border. Wolfcamp and Bone Spring quality is strong, and many of the most active operators concentrate effort along this corridor.
Activity: Highest Development: Heavy infill
Western Loving / Reeves & NM
Western county
Western Loving sits closest to the deepest part of the Delaware Basin core. Activity is consistent here with strong Wolfcamp results. Some of the longest laterals drilled in the basin run through this area, and unit configurations frequently span multiple sections.
Activity: High Development: Active
University Lands & Other Public
Scattered tracts
The University of Texas / Texas A&M University Lands system holds substantial mineral acreage across the Texas Permian, with University Lands tracts present in parts of Loving and surrounding counties. University Lands tracts are leased on different terms than fee minerals. Mineral interests adjacent to University Lands may interact with state leasing dynamics.
Activity: Active state leasing Development: Variable
05 Your Valuation

What your Loving County
mineral rights are worth.

Valuation in Loving County reflects what is genuinely one of the most active oil counties in the world. Multiple stacked formations, deep remaining inventory, well-capitalized operators, and consistent infrastructure investment all support strong mineral valuations. The four scenarios below cover what we see most often.

01
Producing Minerals with Active Royalty Income
Valued on cash flow plus deep remaining inventory
If your Loving County minerals are actively producing, valuation typically starts with the trailing twelve months of royalty income. A buyer applies a multiple based on expected remaining well life, future drilling potential across stacked Wolfcamp and Bone Spring intervals, and commodity outlook. Loving County multiples tend to be among the highest in the country because the inventory depth supports decades of additional development on most units.
What shapes the number: well vintage and remaining life across multiple existing wells, how many additional Wolfcamp and Bone Spring locations remain undrilled, your royalty rate, the operator quality, and your lease cost-deduction language.
02
Unleased Minerals in Active Development
Valued on drilling proximity and future potential
Unleased Loving County minerals are valued aggressively on expected development timing. Operators are competing for acreage across the county, which supports strong lease bonus and royalty rate negotiations. Unleased minerals also carry optionality. Given how active Loving is, unleased positions rarely stay unleased for long once an operator has surrounded them.
What shapes the number: nearby permit activity, the operator's recent drilling pace in your area, formation quality beneath your specific tract, comparable lease bonuses paid on surrounding tracts, and whether your acreage is part of an operator's near-term drilling plan.
03
Small Fractional Interests & Inherited Positions
Often worth substantially more than expected
Many Loving County mineral owners hold small fractional interests inherited across multiple generations, often spread across heirs in different states. Loving's deep stacked pay and high operator activity mean even small fractional interests can carry meaningful value. We pay these interests the same attention as larger ones and are comfortable doing the title research, including chains that go back to original Texas patents and old ranch deeds.
What shapes the number: net mineral acre count, royalty rate if leased, producing status, accumulated unpaid suspense (sometimes meaningful for inherited interests), and whether other heirs holding the same chain are also active.
04
Leased but Not Yet Producing
Valued on lease terms and proximity to activity
If your Loving County minerals are leased but not yet producing, value depends substantially on the lease terms and how quickly the operator is moving toward drilling. Permian leases typically have three to five year primary terms with extension by production. A lease held by an active major operator is worth materially more than one held by a passive leaseholder waiting on conditions.
What shapes the number: your royalty rate, primary term expiration, the specific operator holding the lease, recent drilling activity in adjacent units, and whether your lease has a Pugh clause or similar acreage-protection language.
Your specific situation

We would rather look at real facts than speak in generalities. Send us what you have.

Request an Analysis →
06 The Regulatory Landscape

Texas rules,
Northern Delaware realities.

Loving County operates under the Texas oil and gas regime, administered primarily by the Railroad Commission of Texas. The on-the-ground realities reflect long horizontal laterals that often span multiple sections, the role of the General Land Office and University Lands as mineral owners on certain tracts, and Texas-specific pooling and unitization practices that differ from neighboring New Mexico.

The Texas Railroad Commission and how spacing works

The Railroad Commission of Texas (RRC), despite its name, regulates oil and gas activity in Texas. The RRC permits wells, conducts hearings on spacing and unitization applications, and maintains a public well database. Texas does not have compulsory pooling in the same way as some other states, which means operators must reach voluntary agreements with mineral owners to pool acreage into drilling units, or use Mineral Interest Pooling Act procedures in limited circumstances.

Long laterals and unit configurations

Loving County is one of the parts of Texas where operators routinely drill very long horizontal laterals, sometimes two or three miles. Unit configurations frequently span multiple sections to match these lateral lengths. For mineral owners, the practical effect is that a small fractional interest in one section may participate in production from a well that crosses several sections, with allocation governed by the unit agreement and the lease pooling provisions.

University Lands and state mineral acreage

The University Lands system, managed for the Permanent University Fund of the University of Texas and Texas A&M University systems, holds substantial mineral acreage across the Texas Permian. University Lands tracts are leased on standardized state terms that differ from typical fee mineral leases. If your minerals are adjacent to or surrounded by University Lands, the state's leasing dynamics may affect your situation. The Texas General Land Office administers other categories of state mineral acreage.

Post-production costs and royalty deductions

Texas courts have generally allowed operators to deduct post-production costs (gathering, processing, compression, transportation) from royalty payments unless the lease specifically prohibits them. Whether your specific lease permits which deductions depends entirely on the lease language. Reading your lease's royalty clause carefully and checking how the operator is calculating deductions is worth doing.

07 Questions We Hear Often

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.

01
How much are mineral rights worth in Loving County, Texas?
Loving County values tend to carry among the strongest multiples in the country, because it sits in the heart of the Northern Delaware Basin core where the stacked Wolfcamp and Bone Spring section is unusually thick and operator activity is consistent. That said, values vary widely depending on where in the county you own, whether your minerals are leased or producing, the operator, your royalty rate, and lease cost-deduction language. The only way to know what your specific minerals are worth is to look at the actual facts. We are happy to do that for you, at no cost and with no obligation to sell.
02
Why is Loving County so active when it has almost no population?
Loving County is the least populated county in the United States, with roughly 60 to 100 residents depending on the year. Almost everything happening on the ground is oil and gas. The county sits in the Northern Delaware Basin core where Wolfcamp and Bone Spring stacked pay is unusually thick, and operators have been developing it aggressively for more than a decade. The lack of population is part of why activity moves quickly. There is little surface conflict, and the entire county economy is essentially built around the oilfield.
03
I inherited mineral rights in Loving County but I do not have any documents. What do I do?
You are not alone. This is very common in Loving County because the original mineral chains often go back generations to ranch families with interests now spread across many heirs. Start by gathering anything you do have: old letters from operators, tax statements, probate records, royalty stubs, division orders. The Loving County Clerk's office in Mentone keeps deed records. The Texas Railroad Commission maintains a public well database. We can usually identify what someone owns with just a name and a rough idea of where the minerals are located, because Texas mineral records are publicly accessible.
04
Should I sell my Loving County mineral rights now or hold them?
That depends on your situation. People who hold typically want long-term royalty income, do not need cash for other priorities, and are comfortable with commodity price volatility. People who sell typically want to convert future uncertain income into certain present value, simplify their estate, or use the capital for something else. Loving County's deep stacked-pay inventory makes the holding case strong, but the same characteristics also support strong sale valuations. Neither is wrong. We can help you think through the tradeoffs without pressure to pick a side.
05
What is the difference between an offer to lease and an offer to buy my minerals?
Leasing gives an operator the right to develop your minerals for a period of time, typically three to five years, with extension if production is established. In exchange you receive a bonus payment per net mineral acre and a royalty percentage on any production. You still own the minerals. Buying transfers ownership entirely, in exchange for a lump sum. After a sale, you no longer own the minerals and you receive no future royalties. Both have their place. Buying typically delivers more value up front, leasing preserves long-term upside.
06
My royalty statements have a lot of cost deductions. Is that normal in Texas?
Whether deductions are permitted depends entirely on your specific lease language. Texas courts generally allow operators to deduct post-production costs (gathering, processing, compression, transportation) unless the lease specifically prohibits them. Some leases have no-deduction or gross proceeds language that limits what can be taken out. Reading your lease carefully and checking how the operator is calculating deductions is worth doing. We can help review your statements and lease language together if helpful.
07
My family has held these minerals for generations. Is that common?
Very common in Loving County. Many of the original mineral chains here trace back to ranching families and homestead patents from the late 1800s and early 1900s. Over generations the interests have been subdivided across heirs, often spread across many states. We work with these chains regularly and are comfortable doing the title research, including chains that go back to original Texas patents.
08
Can I sell mineral rights I inherited if other family members inherited the same minerals?
Yes, you can sell your undivided fractional interest without needing the other heirs to participate. This is extremely common in Loving County, where many interests have been subdivided across generations of heirs. A good buyer will work with your specific interest, not require you to round up cousins. We do this all the time.
09
How does the sale process actually work?
Step one, we do the research. You send us what you have, we pull Texas Railroad Commission records, we check operator activity in the unit, and we build an analysis. Step two, we send you a written summary with our reasoning. Step three, if you want to proceed, we handle the mineral deed preparation, you sign at a notary, and funds are wired at close. We move on your timeline, whether that is quick or deliberate. There is no charge for the research and no obligation to sell.
10
Why should I sell to Timberline Minerals specifically?
We are a family-owned office with roots in Texas and Montana. We work across the primary US basins and we are comfortable with Northern Delaware specifics including pooling and unitization, long-lateral spacing, and the Texas Railroad Commission process. We work with mineral interests of all sizes including small fractional positions. Our process is straightforward: we research the tract, share what we find, and make an offer. The decision to sell is yours, and we are happy to help you understand what you have either way.

Find out what your
Loving County minerals
are actually worth.

Send us what you have, or what you think you have. We will pull Texas Railroad Commission records, check operator activity in your area, 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.

Request a Valuation (512) 626-7267
Free · No Obligation · Your Timeline
08 Keep Reading

More for Loving County
mineral owners.

Guide · 6 min read
I inherited mineral rights. What now?
A walkthrough of the first few things to look at, whether you just found out or have been sitting on it for years.
Read the guide  →
Guide · 8 min read
How mineral rights are valued
The core inputs that go into a mineral valuation. Production, inventory, operator, lease terms, and what each one actually means in practice.
Read the guide  →
Guide · 5 min read
What to look for in an offer
Reading an offer letter, understanding what is and is not included, and the questions worth asking before responding.
Read the guide  →
Market Pulse

Permian status, April 2026

The Permian produced approximately 6.7 million barrels per day of crude oil in March 2026, the most recent month with confirmed data, accounting for roughly forty-eight percent of total US crude production. Year-over-year growth has slowed from prior peaks but remains positive. For Lea and Eddy mineral owners, the practical takeaway is that operator activity continues to be concentrated in stacked Wolfcamp and Bone Spring development across the Delaware sub-basin, with consolidation among public producers reshaping who operates which spacing units.

12 month oil production trend
6,700
thousand barrels per day
Latest month
+20(+0.3%)
thousand barrels per day
Month over month
+280(+4.4%)
thousand barrels per day
Year over year
Last updated April 2026. Source: US Energy Information Administration, Short-Term Energy Outlook (April 2026).