Basins & Plays

Minerals are priced by basin, not by state.

A basin decides your geology. A state line decides your law. Most basins cross one, and the difference between the two sides is frequently larger than owners realize. These pages cover both.

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Multi-state basins

Basins that cross a state line

These are the pages where the law matters most, because two owners with nearly identical geology and nearly identical leases can end up with materially different checks depending on which side of a line they are on.

Bakken / Williston

North Dakota and Montana. A cost free 16 percent for unleased North Dakota owners against one eighth in Montana, a 20 year abandonment statute on one side and none on the other, and a 6 percent royalty withholding on the other.

Marcellus Shale

Pennsylvania and West Virginia. Deductions are lawful under Kilmer on one side of the line and largely forbidden under Tawney and Romeo on the other. Plus the Dunham Rule, which decides whether you own the gas at all.

Utica Shale

Eastern Ohio and beneath Appalachian Marcellus acreage. Ohio gives a surface owner two independent statutory routes to take a severed mineral interest, and the Ohio Supreme Court has confirmed both work.

Powder River Basin

Wyoming. Seven potential targets stacked under one section, a statutory royalty definition that protects your check, and no state income tax when you sell.

DJ Basin / Niobrara

Colorado, Wyoming, and Nebraska. What SB 19-181 did to development timing, the 45 percent pooling threshold that gives unleased owners real leverage, and the Codell inventory nobody counts.

Uinta Basin

Utah. 910 permits in 90 days across Uintah and Duchesne, more than anywhere outside the Delaware and Midland, and a consolidation nobody has explained to owners.

San Juan Basin

New Mexico. More than 23,000 producing wells of long-life gas, priced by most buyers as though slow meant finished.

San Joaquin & California

Kern County alone has 34,272 producing wells, more than any county in America, and almost no buyer will quote it.

Smackover & Lithium Brine

Arkansas, northeast Texas, and north Louisiana. A century old oil formation that became the country's biggest lithium prospect. Arkansas set a 2.5 percent royalty by ruling; Texas has not decided who owns the lithium at all.

Permian Basin

West Texas and southeast New Mexico. The most valuable minerals on earth and the most heavily mailed. Stacked benches, and a state line where the tax and royalty regimes diverge sharply.

Oklahoma

Our home basins

Texas

Texas basins

Overlooked

The plays nobody writes for owners

Mineral buyers follow rigs, so the marketing budgets go where the drilling is. These are fields with very large owner populations, real production, and almost no coverage written for the families who hold them. Being ignored by buyers is not the same as being worthless, and it usually means the first offer you get is a low one.

Not sure which basin you are in?

Send a check stub, a legal description, or just a county and a family name. We will tell you what basin you sit in, what has been drilled and permitted around you, what the interest is worth and how we got there, and whether we think you should keep it. Free, and no obligation of any kind.

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