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Texas · Permian Basin · Delaware Sub-Basin

Sell Mineral Rights
in Reeves County,
Texas.

Reeves County is the largest oil-producing county on the Texas side of the Delaware Basin and one of the most consistently drilled counties in the state. If you own mineral rights here, you sit over a thick stack of Wolfcamp and Bone Spring rock that operators have been drilling for years and will keep drilling for years. We are happy to help you understand what you have.

~2,600sq mi
County Area
Far west Texas
~10,000ft
Wolfcamp Depth
typical TVD
10,000ft
Standard Lateral
two-mile and longer
A–D
Wolfcamp Benches
Plus Bone Spring sands
Largest
Delaware TX Producer
By county
01 The Basin

The Texas heart of the
Delaware Basin.

Reeves County sits in far west Texas, on the Texas side of the Delaware sub-basin of the Permian. The Permian as a whole is the most active oil basin in the United States, and within the Permian, the Delaware sub-basin holds the thickest stacked unconventional reservoirs. Reeves is the largest oil-producing county on the Texas side of the Delaware.

Geographically, the county runs from the Pecos River corridor on the east toward the New Mexico state line on the north, with Pecos as the county seat and primary service hub. The Wolfcamp formation thickens beneath much of the county into multiple distinct benches (A, B, C, and D), with the three Bone Spring sands stacked above. Most spacing units in the county can support a meaningful well count across these intervals over the life of development.

Reeves is one of those counties where the rock does the talking. Multiple stacked targets, a deep operator bench, and pipelines built to handle the production. The drilling has been steady for years and the inventory still has a long way to run.

If you are reading this, you may own a piece of that. Maybe you inherited minerals through a chain that goes back to old ranching family conveyances. Maybe you have been receiving royalty checks for years and watched them grow as horizontals replaced verticals. Maybe an operator just sent you a letter offering to buy or lease. This page walks through the rock, the operators, the sub-geography, valuation, and the regulatory framework.

Starting point

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

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02 The Rock

Stacked pay across the
Delaware column.

Reeves County's productive geology is unusually stacked. The Wolfcamp formation runs deep beneath the county and is divided into Wolfcamp A, B, C, and D benches, each capable of supporting horizontal development. Above the Wolfcamp sit the three Bone Spring sands and the Avalon shale. Modern operators routinely develop multiple zones from the same surface pad.

Wolfcampprimary unconventional target

The Wolfcamp is the deepest and most productive unconventional target in Reeves County. 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 across most of the county, with operators drilling multiple horizontals per spacing unit across the two benches. Wolfcamp C and D are developed in select areas where reservoir quality supports it.

For mineral owners, Wolfcamp development typically means multiple wells per spacing 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
9,500 to 12,000 ft
Type
Calcareous mudstone
Active Benches
A and B primarily, C/D selective
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 Reeves County, but the 1st Bone Spring also produces meaningfully in parts of the county. Some spacing units have horizontals in all three Bone Spring intervals plus multiple Wolfcamp wells, leading to ten or more total wells per surface unit over the development cycle.

For mineral owners, Bone Spring inventory is one of the reasons Reeves County valuations carry strong multiples. Even after early Wolfcamp development is complete, the Bone Spring intervals support continued royalty income for many years.

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

Above the Bone Spring, the Avalon shale produces in select parts of Reeves County. The Avalon has been an inconsistent horizontal target across the basin but produces well in certain areas, particularly in the northern parts of the county closer to the New Mexico line. Older legacy vertical production from shallower zones still continues in some areas.

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

Avalon Depth
~7,000 ft
Type
Organic-rich shale
Status
Selective horizontal
Where Active
Variable across county
03 The Operators

Who is drilling on your
Reeves County minerals.

The Permian operator landscape consolidated dramatically through 2023 and 2024, with multi-billion-dollar mergers reshaping the operator list. The operators below are leaders in current Reeves County activity, but the county has many more meaningful operators than this list captures.

i.
ExxonMobil / XTO Energy
ExxonMobil, primarily through its XTO Energy subsidiary and the 2024 Pioneer Natural Resources acquisition, holds one of the largest acreage positions in the Texas Permian. In Reeves County, ExxonMobil operates extensively across the Wolfcamp and Bone Spring intervals. The company's scale supports continuous drilling programs and longer laterals than many smaller operators can execute.
Major · Largest TX Permian
Top Operator
ii.
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 Reeves County acreage and is among the most active drillers in the county.
Public · Pure-play Delaware
Top 5 in Reeves
iii.
ConocoPhillips
ConocoPhillips holds substantial Reeves County acreage through its 2021 acquisition of Concho Resources and the 2024 Marathon Oil acquisition. The company is a large public producer actively developing Wolfcamp and Bone Spring inventory across the county. ConocoPhillips's scale and capital base support consistent drilling activity through commodity cycles.
Major · Concho legacy
Top 5 in Reeves
iv.
EOG Resources
EOG Resources is one of the most disciplined large independents in the Permian and a meaningful operator in Reeves County. EOG's Delaware position spans both Texas and New Mexico sides of the basin, with a strong Reeves footprint. The company is known for consistently strong well results and selective drilling programs targeting the highest-quality acreage.
Public · Large independent
Top 5 in Reeves
v.
Long Tail of Public and Private Operators
Reeves County has many additional meaningful operators including Diamondback Energy (now combined with Endeavor Energy Resources), Chevron, Devon Energy, Coterra Energy, Apache, Matador Resources, and various private operators including legacy Centennial-area positions and a number of well-capitalized private equity-backed operators. Mineral owners may see different operator names on different wells within the same general area depending on which operator drilled which spacing unit.
Mixed · Many active
Many Active Operators
See a familiar name?

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

Ask About Your Operator →
04 The Geography

Not all Reeves County
minerals are built the same.

Reeves County covers roughly 2,600 square miles across far west Texas. The Wolfcamp and Bone Spring trends run through most of the county, with productivity varying meaningfully by area. Pecos is the largest city and regional service hub. Where in the county your minerals sit shapes everything from operator activity to formation depth and quality.

Pecos Core
Central county near county seat
The geographic and operational center of the county. Pecos serves as the regional service hub for Permian operations across far west Texas. 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 Reeves
Toward NM state line
Northern Reeves runs toward the New Mexico state line and the deepest part of the Delaware sub-basin. Wolfcamp quality is generally strong here, with active drilling continuing across the state line where geology permits. Cross-state spacing considerations occasionally affect leasing dynamics for owners near the boundary.
Activity: High Development: Active
Western Reeves / Culberson Border
Toward Culberson Co.
Western Reeves transitions toward Culberson County and the deeper parts of the Delaware Basin. Activity is meaningful here, with operators drilling across the county boundary. Wolfcamp depth increases moving west, which affects both well economics and lateral planning.
Activity: High Development: Active
Southern Reeves / Pecos River
Along Pecos River corridor
Southern Reeves follows the Pecos River corridor toward the Ward and Loving County borders. Activity here remains strong, with Wolfcamp and Bone Spring inventory supporting continuous drilling. Some spacing units sit in active rotation across multiple operators.
Activity: High Development: Active
Eastern Reeves / Ward Border
Toward Ward and Loving
Eastern Reeves transitions toward the Central Basin Platform side of the Permian. Activity remains meaningful, though the geological character begins to shift moving east. Many spacing units have established Wolfcamp and Bone Spring development with continuing infill activity.
Activity: High Development: Mature
Far Western / Mountain Margin
Toward Davis Mountains
The far western and southwestern portions of the county transition toward the Davis Mountains and the basin's structural margin. Activity thins toward the basin edge, but selective drilling continues where geology supports it. Mineral interests here are valued more on optionality than current activity.
Activity: Light to Moderate Development: Selective
05 Your Valuation

What your Reeves County
mineral rights are worth.

Valuation in Reeves County reflects what is one of the most active oil counties in Texas. 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 Reeves 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. Reeves County multiples tend to be among the strongest in Texas because the inventory depth supports years of additional development on most spacing 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 Reeves County minerals, particularly in the Pecos core, the northern part of the county, 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 your area, formation quality beneath your specific tract, 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 Reeves County mineral owners hold small fractional interests inherited across multiple generations, often spread across heirs in different states. Reeves'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 and homestead conveyances.
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 Reeves 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.

Reeves County operates under the Texas oil and gas regime, administered primarily by the Texas Railroad Commission. Texas is unusually friendly to mineral owners in many respects: clear surface and mineral severance, robust public records, and a long body of case law on lease interpretation. The on-the-ground realities reflect the dominance of horizontal Wolfcamp and Bone Spring development and the unit structures that go with two-mile and longer laterals.

The Railroad Commission and how spacing works

The Texas Railroad Commission (RRC) regulates oil and gas activity across the state. The RRC permits wells, conducts hearings on spacing and pooling applications, and maintains the public well database. Texas does not have forced pooling in the same form as some states, which means horizontal units in Reeves County are typically formed through voluntary pooling under lease pooling clauses. Modern horizontal units commonly span multiple sections to match two-mile or longer laterals.

Pooling and unit structures

Most Reeves County development today happens on pooled units. If your tract is part of a pooled unit, your royalty is calculated on your tract's proportional share of the unit, not on whether the lateral physically crosses your acreage. The pooling clause in your lease governs how this works. Modern leases typically authorize pooling into units of a specified maximum size; older leases may have more restrictive pooling language that can affect unit formation.

Post-production costs and lease language

Texas courts have generally allowed operators to deduct post-production costs (gathering, compression, processing, transportation) from royalty payments unless the lease specifically prohibits them. This makes lease language extremely important. Many older Reeves County leases are silent on the issue, which typically allows deductions. Modern leases often include cost-free royalty clauses or specific deduction limitations. Reading your specific lease's royalty language matters.

Title and county records

Mineral title in Reeves County is recorded with the County Clerk in Pecos. Texas mineral records are publicly accessible and the chain of title in Reeves often runs back through ranch family conveyances, with modern interests typically traced through deed records, probate filings, and title opinions.

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 Reeves County, Texas?
Reeves County values are among the strongest in the Delaware Basin because the stacked Wolfcamp benches and Bone Spring sands support a long runway 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 the 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 Reeves County so heavily drilled?
Reeves sits squarely over the deepest part of the Delaware sub-basin of the Permian, where the Wolfcamp section thickens and stacks into multiple distinct benches (A through D), with the Bone Spring sands above. That means many spacing units can support multiple horizontal wells across multiple intervals from a single surface pad. Combined with built-out pipeline takeaway and an active operator base, the county has been one of the most consistently drilled in Texas for the better part of a decade.
03
I inherited mineral rights in Reeves County but I do not have any documents. What do I do?
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 Reeves County Clerk in Pecos keeps deed records, and 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 Reeves 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 swings. People who sell typically want to convert future uncertain income into certain present value, simplify their estate, or use the capital for something else. Reeves 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.
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 post-production cost deductions. Is that normal in Texas?
Whether deductions are permitted depends entirely on the lease language. Texas courts have generally allowed operators to deduct post-production costs (gathering, compression, processing, transportation) unless the lease specifically prohibits them. Many older Reeves County leases are silent on the issue, while modern leases often include cost-free royalty clauses. 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
What does it mean if my minerals are "pooled" or in a "unit"?
Modern horizontal wells in the Delaware Basin are typically drilled on units that span multiple sections, because the laterals are two miles or longer. If your tract is part of a pooled unit, your royalty is calculated on your tract's proportional share of the unit, not on whether the lateral physically crosses your acreage. This is how most Reeves County development works today, and it is one reason small fractional interests can still see meaningful royalty income from large unit wells.
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 Reeves 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 and county 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 know Reeves County specifically, including the Wolfcamp bench geology, the operator landscape, and the unit structures common in the Delaware Basin. 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
Reeves County minerals
are actually worth.

Send us what you have, or what you think you have. We will pull Texas Railroad Commission and county 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 Reeves 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).