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Texas · Permian Basin · Midland Sub-Basin

Sell Mineral Rights
in Midland County,
Texas.

Midland County is the heart of the Midland Basin and the headquarters city for much of the Permian oil industry. The Spraberry and Wolfcamp section under the county is among the most extensively developed stacked-pay areas in the country. If you own mineral rights here, you are sitting on one of the most valuable pieces of oil real estate in the United States. We are happy to help you understand what you have.

~900sq mi
County Area
Most actively drilled
~10,000ft
Wolfcamp Depth
typical TVD
10,000ft
Standard Lateral
with longer pilots
Multiple
Stacked Targets
Spraberry, Wolfcamp A/B, Dean
RRCD08
Railroad Commission
District 08
01 The Basin

The headquarters of the Permian.

Midland County sits squarely in the center of the Midland sub-basin of the Permian, in West Texas. The Permian is the largest oil-producing basin in the United States, and within the Permian, the Midland and Delaware sub-basins together drive the bulk of national onshore oil growth. Midland County is the operational and geographic heart of the Midland side.

The city of Midland is the regional headquarters for much of the Permian oil industry. Many of the largest pure-play Permian operators are headquartered or have major offices there. The county is unusually compact, roughly 900 square miles, and the share of that surface that has seen modern horizontal development is high. The stacked Spraberry and Wolfcamp section under the county supports many wells per spacing unit, with operators routinely drilling pads of eight to twelve or more horizontal wells targeting different benches and intervals.

Few counties in the country have a denser footprint of horizontal oil development than Midland County. Spraberry on top of Wolfcamp on top of more Wolfcamp, all from the same surface pad.

If you are reading this, you may own a piece of that. Maybe you inherited minerals through a chain that goes back to original West Texas ranch land. Maybe you have been receiving royalty checks for decades, or just started receiving them after a recent operator change. Maybe you got a letter from a buyer offering to purchase your interest. This page walks through the rock, the operators, the sub-geography across the county, valuation, and the regulatory landscape under the Texas Railroad Commission.

Starting point

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

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02 The Rock

Stacked pay across the
Spraberry-Wolfcamp section.

Midland County's productive geology is a thick, stacked, organic-rich section. The Spraberry sits on top, divided into the Upper, Middle (Jo Mill), and Lower Spraberry. The Dean sits between Spraberry and Wolfcamp. Below that, the Wolfcamp formation is divided into Wolfcamp A, B, C, and D benches, each capable of supporting horizontal development. Modern operators routinely develop multiple zones from the same surface pad.

SpraberryUpper, Jo Mill, Lower

The Spraberry formation is the upper part of the productive Midland Basin section. It is typically divided into the Upper Spraberry, the Middle Spraberry (commonly called the Jo Mill), and the Lower Spraberry. Each interval is its own potential horizontal target, and operators in Midland County routinely drill horizontal wells in more than one Spraberry bench within the same spacing unit.

Spraberry has been producing in Midland County for many decades. Vertical Spraberry wells were drilled across the county through the second half of the twentieth century, and many of those legacy verticals still produce. Modern horizontal development has dramatically expanded what the Spraberry can deliver, with each bench treated as a separate target.

Depth Range
6,500 to 8,500 ft
Type
Mixed sandstones and shales
Active Benches
Upper, Jo Mill, Lower
Status
Heavily developed
WolfcampA, B, C, D benches

The Wolfcamp formation sits below the Dean and is the deepest active unconventional target in Midland County. It is divided into multiple distinct benches, each capable of supporting horizontal development. Wolfcamp A and B are the primary current targets across the county, with operators drilling multiple horizontals per spacing unit across those two benches. Wolfcamp C and D are developed selectively in parts of the county.

For mineral owners, Wolfcamp development typically means multiple wells per spacing unit drilled over the life of development. Each well represents 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, but cumulative recoveries per well have generally increased over time.

Depth Range
9,000 to 11,500 ft
Type
Calcareous mudstone
Active Benches
A and B primarily
Typical Lateral
10,000 ft, longer pilots
Dean & Other Targetsinterbedded section

The Dean formation sits between the Spraberry and the Wolfcamp. It is a thinner, mixed sand and shale interval that operators drill selectively across Midland County, sometimes as a primary target and sometimes opportunistically alongside Spraberry and Wolfcamp development. Above and around these primary targets, additional intervals including the Clearfork and shallower zones produce in parts of the county, with significant 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 and other intervals, plus legacy vertical production that continues to generate income for many years.

Dean Depth
~8,500 ft
Clearfork Depth
5,000 to 6,500 ft
Type
Mixed clastics and carbonates
Status
Selective horizontal, legacy vertical
03 The Operators

Who is drilling on your
Midland County minerals.

The Permian operator landscape went through a dramatic wave of consolidation in 2023 and 2024. The Midland Basin in particular saw multiple multi-billion-dollar mergers reshape the operator list. The five entries below cover the leaders in current Midland County activity, but the county has many more meaningful operators than this list captures.

i.
ExxonMobil (Pioneer legacy)
ExxonMobil completed its acquisition of Pioneer Natural Resources in 2024. Pioneer had built itself into the largest operator in the Midland Basin, with very substantial Midland County acreage. Under the ExxonMobil umbrella, that acreage continues to be developed at a similar pace. For mineral owners, this means many royalty payments in the county now come from ExxonMobil entities rather than Pioneer.
Major · Pioneer legacy
#1 in Midland
ii.
Diamondback Energy & Endeavor
Diamondback Energy completed its acquisition of Endeavor Energy Resources in 2024, combining two of the largest pure-play Midland Basin operators into a single entity. The combined company holds a very large Midland County position and is among the most active drillers in the county. Endeavor was previously the largest privately held operator in the Permian.
Public · Pure-play Midland
Top 2 in Midland
iii.
ConocoPhillips
ConocoPhillips holds substantial Midland Basin acreage from its 2021 acquisition of Concho Resources, with a meaningful Midland County footprint. ConocoPhillips also added to its Permian position through the Marathon Oil acquisition completed in 2024. The company is an active driller across Spraberry and Wolfcamp inventory in the county.
Major · Concho / Marathon legacy
Top 5 in Midland
iv.
Chevron
Chevron holds a large legacy Permian position spread across both the Midland and Delaware sub-basins, with meaningful Midland County acreage. Chevron's Permian development pace has been steady, and the company is one of the longest-tenured operators in the basin. Royalty owners under Chevron-operated leases tend to receive consistent communications.
Major · Long-tenured Permian
Top 5 in Midland
v.
Long Tail of Public and Private Operators
Midland County has many additional meaningful operators including Apache through APA Corporation, Ovintiv, Vital Energy, Matador Resources, SM Energy, Callon Petroleum legacy assets now under APA, Surge Energy, 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 spacing unit, and many owners now see operator transitions as a result of the 2023 to 2024 consolidation wave.
Mixed · Many active
Many Active Operators
See a familiar name?

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

Ask About Your Operator →
04 The Geography

Not all Midland County
minerals are built the same.

Midland County covers about 900 square miles in West Texas. Although the county is one of the most uniformly developed in the Permian, productivity and development pace still vary by sub-area. The city of Midland sits roughly in the center, and surrounding ranch country has been heavily drilled across the surrounding sections. Where in the county your minerals sit shapes everything from operator activity to formation depth and quality.

North Midland
Northern townships
Northern Midland County transitions toward Martin County. Spraberry and Wolfcamp development here is among the most active in the county, with very dense pad activity. Much of the historic Pioneer and now ExxonMobil core acreage sits across this area, along with Diamondback acreage from the Endeavor merger.
Activity: Highest Development: Mature, infill
Midland Urban & Suburban
Central county
The city of Midland and surrounding suburban areas overlie productive Spraberry and Wolfcamp section. Drilling occurs at the city's edges and in unincorporated land, often with additional surface use considerations for urban density. The minerals beneath developed surface remain commercially valuable, though surface logistics shape pad placement.
Activity: Selective Development: Surface-constrained
East Midland
Eastern townships
Eastern Midland County runs toward Glasscock County. Activity is high here, with operators drilling across the county line where geology permits. The eastern flank of Midland County has been a consistent area of drilling investment through multiple cycles, and remaining Spraberry and Wolfcamp inventory is meaningful.
Activity: High Development: Active
South Midland
Southern townships
Southern Midland County runs toward Upton County. Wolfcamp quality is generally strong here, with operators drilling continuously across the county boundary. Many spacing units sit in active rotation, and the southern county has historically been a focus of Diamondback and other operators.
Activity: High Development: Active
West Midland
Western townships
Western Midland County transitions toward Ector County and the city of Odessa. Spraberry and Wolfcamp development continues across this boundary, and operator footprints often span both counties. Activity here is consistent, with deep stacked inventory across most spacing units.
Activity: High Development: Active
Legacy Vertical Footprint
Countywide
Midland County has many decades of legacy vertical production, with thousands of older wells across Spraberry, Clearfork, and shallower intervals. Many of these wells continue to produce and contribute royalty income alongside modern horizontal development. Some legacy units have been re-developed horizontally on top of the older vertical production.
Activity: Legacy continues Development: Often re-developed
05 Your Valuation

What your Midland County
mineral rights are worth.

Valuation in Midland County reflects what is genuinely one of the most active onshore oil counties in the US. 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 Midland 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 the stacked Spraberry and Wolfcamp benches, and commodity outlook. Midland County multiples tend to be among the highest in the country 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 Midland County minerals, particularly in the active operator footprints across the county, 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 your area, formation quality beneath your specific section, comparable lease bonuses paid on surrounding tracts, 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 Midland County mineral owners hold small fractional interests inherited across multiple generations, often spread across heirs in different states. Midland'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 land grants and ranch ownership.
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 Midland 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 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.

Midland County operates under the Texas oil and gas regime, administered primarily by the Texas Railroad Commission. Texas is generally considered one of the most operator-friendly regulatory environments in the country, with well-established rules and a long body of case law. The on-the-ground realities for mineral owners reflect Texas-specific lease conventions, the Railroad Commission's record-keeping system, and Texas property law.

The Railroad Commission and spacing

The Texas Railroad Commission (RRC), specifically District 08, regulates oil and gas activity in Midland County. The RRC permits wells, conducts hearings on spacing and pooling applications, and maintains the public well database. Texas does not have forced pooling for unleased minerals in the same way some states do, which makes voluntary leasing especially important. Modern horizontal development in the Midland Basin typically uses larger spacing units that match two-mile or longer laterals.

Texas lease conventions

Texas lease conventions are well-established but vary widely in their details. Royalty rates have generally trended higher over time in active areas, and lease terms for the most active counties often include shorter primary terms, defined depths, Pugh clauses, and varying post-production cost language. Reading your specific lease carefully matters, especially the cost-deduction provisions.

University Lands and other large owners

The Permanent University Fund, administered by University Lands, holds substantial mineral acreage across parts of West Texas. Some of that acreage sits in or near Midland County. State and university acreage is leased on terms that can differ from privately owned fee minerals, and adjacent leasing dynamics can affect timing of nearby drilling. Many private fee mineral owners hold interests adjacent to or interspersed with these larger institutional holdings.

Cost deductions and division orders

Texas allows post-production cost deductions when permitted by lease language. Royalty owners may see deductions for gathering, processing, transportation, and treating, depending on what their specific lease allows. Operator transitions from the recent consolidation wave have led to many new division orders, which sometimes change how royalties are calculated. Reading new division orders carefully and comparing them to your lease 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 Midland County, Texas?
Midland County mineral values tend to carry among the strongest multiples of any oil county in Texas, because the stacked Spraberry and Wolfcamp section supports many years of additional drilling on most spacing units. 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 Midland County such a productive part of the Permian?
Midland County sits in the heart of the Midland sub-basin of the Permian. The productive section is unusually thick and stacked, with the Spraberry, Dean, and Wolfcamp formations all capable of supporting horizontal development from the same spacing unit. Modern horizontal drilling and completion technology have unlocked these reservoirs at scale, and infrastructure has been built out across the county to keep up. Operators routinely drill many wells per spacing unit targeting different intervals.
03
I inherited mineral rights in Midland 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 Midland County Clerk's office keeps deed records. The Texas Railroad Commission maintains a public database of wells, operators, and production. 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 Midland 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. Midland 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
What is the city of Midland's relationship to drilling activity?
Midland is the regional headquarters city for the Permian Basin oil industry. Many of the largest operators in the basin are headquartered or have major offices there, and a significant share of basin commerce flows through the city. Drilling activity occurs across the county, including on the city's outskirts. Urban and suburban drilling brings additional surface use considerations, but it does not change the underlying mineral ownership or royalty math.
07
What does the Pioneer-ExxonMobil deal mean for Midland County mineral owners?
ExxonMobil completed its acquisition of Pioneer Natural Resources in 2024. Pioneer was the largest operator in the Midland Basin, with very substantial Midland County acreage. Going forward, those wells and leases are operated under the ExxonMobil umbrella. For royalty owners, it generally means a different name on the check and a different operator portal, but the underlying lease terms continue. Operator transitions sometimes also change how royalties are calculated and how cost deductions are handled, so reading new division orders carefully is worth doing.
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 Midland 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 stacked Spraberry and Wolfcamp development, the Texas Railroad Commission process, and the operator landscape after the recent wave of consolidation. We work with mineral interests of all sizes including small fractional positions. You should always get multiple offers and we encourage it. If ours is not the best one you receive, that is useful information for you. Either way, we are happy to help you understand what you have.

Find out what your
Midland 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 Midland 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).