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Texas · Permian Basin · Midland Sub-Basin

Sell Mineral Rights
in Martin County,
Texas.

Martin County sits at the heart of the Midland Basin and at the center of Pioneer Natural Resources' heritage Spraberry trend acreage, which ExxonMobil now operates following the 2024 acquisition. If you own mineral rights here, you sit in one of the most consistently developed parts of the Permian. We are happy to help you understand what you have.

Core
Midland Basin
Top tier acreage
~9,500ft
Wolfcamp Depth
typical TVD
10,000ft
Standard Lateral
with longer pilots
Stacked
Pay Targets
Spraberry, Wolfcamp, Dean
XOM+more
Top Operator
Pioneer legacy footprint
01 The Basin

The historic heart
of the Midland Basin.

Martin County sits in north-central Midland Basin, bordered by Howard County to the east, Midland County to the south, Andrews to the west, and Dawson to the north. Stanton, the county seat, sits along Interstate 20 about twenty miles northeast of Midland. The county covers roughly 915 square miles, and almost all of it produces.

The Spraberry trend that defines this part of West Texas is named for an old Dawson County farm and runs through the heart of Martin County. Vertical Spraberry production began in earnest in the 1950s, and many older mineral chains in the county trace back to that era. The horizontal era reset what was possible. Operators began drilling long laterals through the Lower Spraberry and into the Wolfcamp benches, and Martin County turned out to have some of the thickest, most consistent stacked pay in the basin.

Martin County is what the Midland Basin looks like at its best. Predictable rock, deep inventory, and operators with long-term capital plans built around it.

If you are reading this, you may own a piece of that. Maybe you inherited minerals through a chain that goes back to old family farms or original ranch sections. Maybe you have been receiving royalty checks for decades and recently got a different name on the check stub when ExxonMobil closed on Pioneer. Maybe an operator just sent you a letter asking to lease unleased acreage. This page walks through the rock, the operators, the geography, valuation, and the regulatory landscape.

Starting point

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

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02 The Rock

Stacked pay through the
Spraberry trend.

Martin County's productive geology is unusually consistent. The Spraberry section sits above the Wolfcamp, with the Dean sandstone interval between them in many parts of the county. Modern operators routinely develop multiple zones from the same surface pad, with some pads supporting eight or more wells across different intervals. The rock quality and consistency are why this part of the basin draws sustained capital.

SpraberryLower & Middle benches

The Spraberry formation gives the trend its name. In Martin County, the Lower Spraberry and Middle Spraberry are both routinely targeted by horizontal development. These intervals are silty, organic-rich, and laterally continuous across most of the county. Vertical Spraberry wells from the 1950s and 1960s are still found across many older leases, with many having been recompleted or replaced by modern horizontals.

For mineral owners, Spraberry development typically means one or more horizontals per spacing unit at the Lower Spraberry interval, with a separate set of wells often planned for the Wolfcamp benches below. Each well represents a separate revenue stream tied to the same minerals.

Depth Range
7,000 to 8,500 ft
Type
Siltstone and shale
Active Benches
Lower and Middle Spraberry
Typical Lateral
10,000 ft, longer pilots
WolfcampA and B primary benches

Below the Spraberry sits the Wolfcamp section, which in Martin County is divided into Wolfcamp A, B, C, and D benches. Wolfcamp A and B are the primary horizontal targets currently, with operators routinely drilling multiple wells per spacing unit across the two benches. Wolfcamp C and D have been developed selectively in some areas.

For mineral owners, Wolfcamp inventory is a meaningful part of why Martin County valuations carry strong multiples. Even after early Spraberry development is complete, the Wolfcamp benches typically support continued royalty income for many years.

Depth Range
8,500 to 10,500 ft
Type
Calcareous mudstone
Active Benches
Wolfcamp A and B primarily
Status
Heavily developed
Dean & Other Intervalssecondary horizons

The Dean sandstone sits between the Spraberry and Wolfcamp and produces meaningfully across parts of Martin County. The Dean has been developed both as standalone horizontal targets and as commingled production with the Spraberry on some older completions. Above the Spraberry, shallower intervals including the San Andres also produce in parts of the county, primarily as legacy vertical production.

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

Dean Depth
~8,000 ft
San Andres Depth
3,500 to 5,000 ft
Status
Selective horizontal, legacy vertical
Where Active
Variable across county
03 The Operators

Who is drilling on your
Martin County minerals.

The Permian operator landscape consolidated dramatically through 2023 and 2024, with multiple multi-billion-dollar mergers reshaping the operator list. Martin County felt this directly: ExxonMobil acquired Pioneer Natural Resources in 2024, and Diamondback combined with Endeavor Energy Resources. The names below are the largest current operators in the county.

i.
ExxonMobil (Pioneer legacy)
ExxonMobil acquired Pioneer Natural Resources in 2024, inheriting Pioneer's substantial Martin County position. Pioneer built its Sprayberry trend acreage over decades and made Martin County one of its core development areas. ExxonMobil now operates that footprint with the same scale of capital and longer-dated planning horizon. Most legacy Pioneer royalty owners now see ExxonMobil names on their division orders and check stubs.
Major · Pioneer legacy
Largest in Martin
ii.
Diamondback Energy (Endeavor combined)
Diamondback Energy completed its combination with Endeavor Energy Resources in 2024, creating one of the largest pure-play Permian operators. The combined company holds significant Martin County acreage and is among the most active drillers in the area. Endeavor was itself a substantial Martin County operator before the combination, so the merger consolidated multiple meaningful positions.
Public · Pure-play Permian
Top 3 in Martin
iii.
Coterra Energy
Coterra Energy, formed by the 2021 merger of Cabot Oil & Gas and Cimarex Energy, holds a significant Permian position with meaningful Martin County development. Coterra inherited Cimarex's experienced Permian team and continues to drill Spraberry and Wolfcamp inventory across its leasehold.
Public · Cimarex legacy
Active Operator
iv.
Ovintiv
Ovintiv holds a meaningful Midland Basin position with activity in and around Martin County. The company's Permian program has been a consistent contributor to its overall production, and Martin County sits within the higher-quality acreage Ovintiv has prioritized for development.
Public · Midland Basin
Active Operator
v.
Long Tail of Public and Private Operators
Martin County has additional meaningful operators including SM Energy, Birch Resources, Surge Energy, and various private operators that have built positions through acreage trades and acquisitions. Mineral owners may see different operator names on different wells within the same general area depending on which operator drilled which spacing unit and which acreage trades have happened over the years.
Mixed · Many active
Many Active Operators
See a familiar name?

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

Ask About Your Operator →
04 The Geography

Not all Martin County
minerals are built the same.

Martin County covers about 915 square miles. The Spraberry and Wolfcamp trends run through almost the entire county, but productivity, development pace, and operator footprint vary by area. Where in the county your minerals sit shapes everything from the operator on your check to formation thickness and remaining inventory.

Stanton Core
T1S-T2S Block 36-37
The geographic and operational center of the county, near the Stanton townsite and the I-20 corridor. Spacing units in this area have typically seen extensive Spraberry and Wolfcamp 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 Martin / Dawson Border
Northern Blocks
Northern Martin runs to the Dawson County line. Activity continues to be strong here, with operators drilling consistently across the county boundary where geology permits. Spraberry and Wolfcamp quality remains good across most of the northern county.
Activity: High Development: Active
Eastern Martin / Howard Border
Eastern Blocks
Eastern Martin transitions toward Howard County, where activity has been heavy on both sides of the county line. Several operators run programs that cross the boundary, and the rock quality holds well into Howard. Spacing unit considerations occasionally affect leasing for owners near the border.
Activity: High Development: Active
Southern Martin / Midland Border
Southern Blocks
Southern Martin runs to the Midland County line and sits closer to the operational core of the basin. Spraberry and Wolfcamp quality is strong here, and major operators run continuous programs across the boundary. Many spacing units in this area sit in active rotation.
Activity: Highest Development: Active core
Western Martin / Andrews Border
Western Blocks
Western Martin transitions toward Andrews County and the western edge of the Midland Basin. Activity continues here but begins to thin slightly compared to the central and eastern county. Wolfcamp and Spraberry sections remain productive across most of the western tier.
Activity: Moderate to High Development: Active
Legacy Vertical Footprints
Scattered countywide
Across Martin County, many tracts hold legacy vertical Spraberry production from completions stretching back to the 1950s and 1960s. These older wells often continue to produce at low rates alongside modern horizontal development on the same spacing units. Mineral owners with old chains of title sometimes have multiple vintages of production tied to one tract.
Activity: Legacy plus modern Development: Mixed vintages
05 Your Valuation

What your Martin County
mineral rights are worth.

Valuation in Martin County reflects what is genuinely one of the best parts of the Midland Basin. Multiple stacked formations, deep remaining inventory, well-capitalized operators including ExxonMobil and Diamondback, and consistent infrastructure 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 Martin 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 Spraberry and Wolfcamp intervals, and commodity outlook. Martin County multiples tend to be among the strongest in the Midland Basin because the inventory depth supports many additional years of development on most spacing units.
What shapes the number: well vintage and remaining life across multiple existing wells, how many additional Spraberry and Wolfcamp 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 Martin County minerals, particularly in the Stanton core, southern Martin, or active operator footprints, 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.
What shapes the number: nearby permit activity, the operator's recent drilling pace in the surrounding area, formation quality beneath your specific tract, comparable lease bonuses paid on surrounding acreage, and whether the section is part of an operator's near-term drilling plan.
03
Small Fractional Interests & Inherited Positions
Often worth substantially more than expected
Many Martin County mineral owners hold small fractional interests inherited across multiple generations, often spread across heirs in different states. Martin'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 ranch sections and Spraberry-era leases.
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 Martin 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 like ExxonMobil or Diamondback is worth materially more than one held by a passive leaseholder.
What shapes the number: your royalty rate, primary term expiration, the specific operator holding the lease, recent drilling activity in adjacent spacing 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.

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06 The Regulatory Landscape

Texas rules,
Permian realities.

Martin County operates under the Texas oil and gas regime, administered primarily by the Texas Railroad Commission. Texas mineral law is well-established, with a long body of court decisions shaping how leases, royalties, and post-production costs are handled. The on-the-ground realities reflect Texas's historical treatment of mineral interests as separate property estates.

The Texas Railroad Commission and spacing

The Texas Railroad Commission (RRC) regulates oil and gas activity statewide. The RRC permits wells, conducts hearings on spacing exceptions and pooling applications, and maintains a public well and production database. Texas has a large body of field rules covering specific producing areas, with modern horizontal development typically operating under field rules adapted to multi-well horizontal development at lateral lengths up to two miles or more.

Texas mineral estates and severed minerals

Texas treats mineral rights as a separate estate that can be owned independently of the surface. Mineral interests in Martin County have been severed and conveyed many times over the years, with chains of title going back to original land patents. The Martin County Clerk's office in Stanton holds deed records, and these records are publicly accessible.

Pooling and spacing units

Modern horizontal development in Martin County typically operates under pooled or unitized spacing arrangements that combine multiple tracts into a single drilling unit. Texas does not have compulsory pooling for most situations, so operators rely on lease pooling clauses or voluntary unit agreements. The pooling language in your specific lease determines how production from a horizontal well drilled across multiple tracts is allocated to your interest.

Post-production costs and lease language

Texas law generally permits operators to deduct certain post-production costs from royalty payments unless the lease language prohibits it. Whether your specific lease permits which deductions depends entirely on the lease language. Reading your lease carefully and checking how the operator is calculating any deductions is worth doing. We can help review your statements and lease language together if helpful.

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 Martin County, Texas?
Martin County values are among the strongest in the Midland Basin because the Spraberry and Wolfcamp stack supports decades of additional drilling on most spacing units, and because the county sits in the heart of Pioneer's legacy footprint now operated by ExxonMobil. 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 your 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 Martin County considered a core Midland Basin county?
Two reasons. First, the Spraberry and Wolfcamp section beneath Martin County is unusually thick and consistent, which makes well results predictable for operators planning long-term development. Second, the county sat at the heart of Pioneer Natural Resources' heritage Sprayberry trend acreage, which Pioneer assembled over decades and developed densely. ExxonMobil acquired Pioneer in 2024 and inherited that position. The combination of strong rock and a well-capitalized operator means Martin County has remained on the most active list in the basin.
03
I inherited mineral rights in Martin County but I do not have any documents. What do I do?
You are not alone. This is a common situation. Start by gathering anything you do have: old letters from operators, tax statements, probate records, royalty stubs, division orders. The Martin County Clerk's office in Stanton keeps deed records. The Texas Railroad Commission maintains a public database of wells, operators, and production. We can usually identify what someone owns with a name and a rough idea of where the minerals sit, because Texas mineral records are publicly accessible.
04
Should I sell my Martin 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. Martin 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
ExxonMobil now operates a lot of Martin County wells. What does that mean for my royalties?
ExxonMobil acquired Pioneer Natural Resources in 2024 and inherited Pioneer's substantial Martin County position. For most royalty owners, the practical change has been a different name on division orders and check stubs, with mostly continuity in development plans on legacy Pioneer acreage. Major operators tend to bring consistent payment processes and large-scale development capital. We can help you understand what the operator change has meant for your specific interest if you have questions.
06
What are post-production cost deductions and how do they affect my checks?
Post-production costs are expenses operators sometimes deduct from royalty payments for moving and processing oil and gas after it leaves the wellhead. Things like gathering, compression, processing, and transportation. Whether these can be deducted from your royalty depends entirely on your specific lease language. Some leases prohibit deductions, others permit them. Reading your lease carefully and checking how the operator is calculating deductions is worth doing. We can help review statements and lease language together if helpful.
07
What is the difference between Spraberry and Wolfcamp on my mineral interest?
In Martin County, Spraberry sits above Wolfcamp in the rock column, and both produce. Operators often drill multiple horizontals targeting different intervals (Lower Spraberry, Wolfcamp A, Wolfcamp B) from the same pad. For mineral owners, the practical effect is that one spacing unit may have multiple wells across different intervals, each producing royalty for its own life. Your royalty share applies to all wells drilled into your tract, regardless of which interval they target.
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 Martin County, where many interests have been subdivided across generations of heirs, often spread across multiple states. 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 spacing 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 Midland Basin specifics including Spraberry and Wolfcamp development patterns, Pioneer-to-ExxonMobil transition dynamics, and Texas Railroad Commission records. 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
Martin 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 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.

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

More for Martin 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).