Not a number per acre. The honest answer for Texas depends on whether your interest produces, what the wells around it are doing this quarter, and what the state's law lets a buyer deduct. Here is how we value Texas minerals when we buy them, with this month's activity, so you can check anyone's offer, including ours.
Updated 2026-11-02 with Enverus activity. Written by Stephen Clayman, career landman and owner of Berlin Royalties, a buyer in Texas. Read it knowing that.
Information only, not an offer. Nothing on this page is a price, a quote, or a commitment to buy at any level. It explains how Texas minerals are generally valued so you can judge offers. A real offer, ours or anyone's, is built from the specific wells, title, decimal, and market on the day it is made, and it can be higher or lower than anything this page might lead you to expect.
A producing Texas royalty is worth a multiple of what it pays, set by how fast the wells are declining and what gas and oil are expected to sell for: commonly expressed as some number of years of current checks, lower for mature wells and higher for young ones, and only a tract-specific valuation says which. Non-producing Texas minerals are worth what the drilling around them makes likely, which ranges from nearly nothing in a quiet county to thousands of dollars an acre ahead of active rigs. Any offer that does not say which of those it is pricing is a guess.
From Enverus, as of 2026-11-02: 138 active rigs in Texas, 929 drilling permits approved in the last 90 days, and 388 wells reporting first production in the last 90 days. That is heavy activity, which means non-producing acreage in the right counties carries real location value and producing interests near those rigs can gain undrilled locations that a cash-flow-only offer will miss.
Rigs running now: Harrison County (5 rigs, 14 permits), Hemphill County (1 rig, 7 permits), Howard County (4 rigs, 36 permits), Karnes County (6 rigs, 54 permits), Loving County (16 rigs, 116 permits), Martin County (13 rigs, 230 permits), Midland County (29 rigs, 147 permits), Panola County (8 rigs, 20 permits), Reeves County (29 rigs, 138 permits), Roberts County (1 rig, 4 permits), Rusk County (2 rigs, 14 permits), Ward County (4 rigs, 33 permits), Webb County (12 rigs, 82 permits).
Permits or new completions, no rig at the moment: Lipscomb County, Ochiltree County.
Quiet this quarter (producing interests valued on cash flow; non-producing acreage priced conservatively): Anderson County, Andrews County, Angelina County, Archer County, Atascosa County, Borden County, Brazos County, Burleson County, Carson County, Cherokee County, Cochran County, Crane County, Crockett County, Culberson County, Dawson County, Denton County, DeWitt County, Dimmit County, Ector County, Erath County, Fayette County, Freestone County, Frio County, Gaines County, Glasscock County, Gonzales County, Gray County, Gregg County, Grimes County, Hansford County, Hockley County, Hood County, Houston County, Hutchinson County, Irion County, Jack County, Johnson County, La Salle County, Lavaca County, Lee County, Leon County, Live Oak County, Lubbock County, Madison County, Marion County, McMullen County, Mitchell County, Montague County, Moore County, Nacogdoches County, Palo Pinto County, Parker County, Pecos County, Reagan County, Robertson County, Sabine County, San Augustine County, Scurry County, Shelby County, Smith County, Somervell County, Stephens County, Sterling County, Tarrant County, Terry County, Upshur County, Upton County, Washington County, Wheeler County, Wichita County, Wilson County, Winkler County, Wise County, Yoakum County, Young County, Zavala County.
Each county page carries its own counts, formations, and the operators permitting there.
Start with the checks: the last twelve months of statements, or a single stub, which carries the operator, your decimal, and the property. Pull the wells in the unit from public records and Enverus, fit a decline to their production history, apply a price deck, discount the stream, and add a risked value for any undrilled locations the operator's permits suggest. Then subtract what the law allows to come out first: severance tax, and for Texas the payment rules under Tex. Nat. Res. Code §§ 91.402, 91.403. The method, with a worked example, is on our valuation methodology page, and the value calculator runs the lump-sum-versus-hold comparison on your own numbers.
Off the map, not off a formula. The questions are: is the tract inside an active unit or a permitted one, what did the nearest wells make in their first year, how many undrilled locations the spacing allows, and how likely the operator is to drill them in the next few years given its rig count and its permits. A tract three miles from a rig in Texas is a different asset from a tract three miles from nothing, and the price difference is a multiple, not a percentage. Our non-producing minerals page walks through it.
By producing well count: HILCORP, OCCIDENTAL, EXXON, CONOCOPHILLIPS, DIAMONDBACK, CRESCENT ENERGY COMPANY. The operator on your check is not offering to buy your minerals, but its permits and its rig count are the best public signal of what your acreage is worth next year.
People ask for a price per acre because that is how land sells. Minerals do not sell that way, and the per-acre figures that circulate online are averages of unlike things: a producing Haynesville royalty and a quiet tract of the same size can differ by a hundredfold. We will give you a per-acre number for your tract, with the wells and the permits it came from, free. We will not give you one for Texas, because there is no such number.
Text a photo of a check stub or a deed to 918-984-1645, or send the county and a legal description. You will get a written number within two business days with the wells, the decline, and the price deck it came from, and it holds for 7 days while you check it against anyone else's. Free, and the same answer whether or not you sell.
Get a Free Valuation How the Preliminary Offer WorksRig, permit, completion and operator counts are from Enverus as of 2026-11-02. Berlin Royalties is the trade name of Berlin Resources LLC, a mineral buyer and landman shop in Tulsa, and a potential counterparty to any sale you make, which is why we would rather you checked the arithmetic than took our word. This page is general information, not an offer, an appraisal, or legal or tax advice; any offer we make is a separate written document and may differ from anything described here.