Mineral Deposits in Texas
Mineral deposits are not uncommon in Texas, with 4 of the top 10 oil fields in the nation residing within its borders. Texans are accustomed to seeing large oilrigs pumping away, but with U.S. oil production predicted to drop in 2016, it is important to know whether you reside within one of the more profitable areas for drilling if you are looking to put your mineral rights up for sale.
Largest Mineral Deposits in Texas
While Texas is one of the nation’s leading producers of crude oil and natural gas, there are many different shales and deposits spread throughout the state each, with its owns characteristics and many being more advantageous than others. Below are just a few of the largest and most profitable fields in Texas:
- Permian Basin: Located near west Texas, this basin has been drilled for over 90 years and is considered one of the most stable deposits in the state. At approximately 250 miles wide and 300 long, it is the only deposit that has not reported a decline in production in recent years.
- Eagle Ford Shale: With 37 oil rigs currently drilling at this deposit, the Eagle Ford Shale located in south Texas was discovered in 2008. With new fracking innovations this shale is now able to be more efficient and accessible than ever before.
- Barnett Shale: This large central Texas shale is producing over 30% of the state’s total natural gas despite being located under the heavily populated DFW metropolitan area.
With the wild fluctuations in oil prices, selling mineral rights at the wrong time can result in a lot of possible lost income. Therefore, it’s important for individuals hoping to sell their mineral rights to work with someone who understands how these kinds of deals work.
Contact our Mineral Auction Team Today
If you reside in one of these or another large and profitable mineral deposit, selling your mineral rights may prove to be a great investment. Our team of representatives at The Mineral Auction has experience dealing in many different mineral deposits and can create a personalized auction plan for your property. Call us today at [phone number] to see what we can do to help you make the most out of your land.