Sell Hot Springs County mineral rights
What Hot Springs County mineral and royalty interests are worth, who buys them, and how to sell directly to a principal buyer with no commission. Every figure is an estimate subject to verification of your specific interest.
Last updated June 2026.
What are Hot Springs County mineral rights worth?
Hot Springs County is a steady, established producing county in the Bighorn Basin. Producing interests are valued on the standard income multiple, roughly 36 to 72 times your average monthly royalty check, and value moves with oil prices. Value rests mainly on existing production, and a steady interest can still be worth a meaningful multiple of its check. This is an estimate, subject to verification of your specific interest, not an offer.
Hot Springs County, where deep Madison carbonate adds to conventional oil production, is part of the Bighorn Basin. Production comes from the Phosphoria, Tensleep, and Madison, so a royalty here is an oil-weighted royalty check. The most active operators on the county's wells include Merit Energy Company, Breitburn Operating LP, and Legacy Reserves Operating LP. The most recent drilling on record was spudded in 2022. Owners in Hot Springs County often sell to convert a long-held interest into cash, to settle an estate spread across several heirs, or because a modest steady check no longer justifies the recordkeeping.
Hot Springs County oil and gas activity
Public state commission records show 1,104 active oil and gas wells in Hot Springs County . The most recent drilling on record was spudded in 2022. These figures are pulled from the state oil and gas commission and are an activity snapshot, not a measure of any one owner's interest.
Top operators in Hot Springs County
The most active operators in Hot Springs County by well count, from the state commission. We name operators because the record is public; this is not an endorsement and implies no relationship.
- Merit Energy Company (689 wells)
- Breitburn Operating LP. (93 wells)
- Legacy Reserves Operating LP (64 wells)
- New Era Petroleum INC (45 wells)
- Citation Oil & Gas Corporation (39 wells)
Producing formations in Hot Springs County
The formations and pools that actually produce in Hot Springs County, from the well records:
- Phosphoria
- Tensleep
- Madison
Producing interests in the Bighorn Basin are valued on the standard income multiple, roughly 36 to 72 times the average monthly royalty check, with value leaning on existing production in an established area. Because production is oil-weighted, value moves with oil prices. This is an estimate, subject to verification, not an offer.
How Hot Springs County minerals are valued
Producing interests anywhere are valued on a multiple of the income they pay: roughly 36 to 72 times your average monthly royalty check, the same as 3 to 6 times your annual royalty. Average your last three to six checks, then multiply. Where you land inside that band depends mostly on how fast your wells decline, plus the operator, royalty rate, and any undeveloped drilling upside. For the full method and a free on-screen estimate, see what are my mineral rights worth.
Who buys mineral rights in Hot Springs County
Hot Springs County owners hear from brokers, marketplaces, and direct buyers. A broker lists your interest and takes a commission, usually up to 6 percent of your proceeds. Ironwood Royalty is a principal buyer, which means the offer comes from us and there is no commission in the middle. We show you a value range before we ask for anything, explain the undeveloped upside instead of quietly keeping it, and never use a 72-hour deadline to rush a decision on a generational asset.
How to sell Hot Springs County minerals
The order of operations is the same everywhere, and it protects you:
- Know your value range before you talk to any buyer.
- Ask every buyer to quote per net royalty acre so offers are truly comparable.
- Ask directly whether the offer accounts for undeveloped drilling upside.
- Confirm the price is firm and not subject to a quiet reduction during due diligence.
See the full walkthrough in how to sell mineral rights. If you inherited the interest, start with our guide for heirs, which covers recording title and the stepped-up basis that can make a near-term sale very tax-efficient.
Hot Springs County is part of the Bighorn Basin. For the basin-wide value bands and the other counties we buy in, see the Bighorn Basin page.
Hot Springs County mineral rights questions
- How much are Hot Springs County mineral rights worth?
- Producing Hot Springs County royalties are valued at roughly 36 to 72 times your average monthly royalty check. As established acreage, value leans on existing production and moves with oil prices. This is an estimate, not an offer.
- What formations produce in Hot Springs County?
- Hot Springs County produces from the Phosphoria, Tensleep, and Madison, which is why a single tract can sometimes be paid from more than one zone. Stacked pay can lift the total value even when each interest looks small. Your value still follows the same income multiple applied to your actual check.
- How active is drilling in Hot Springs County?
- State commission records show about 1,104 active oil and gas wells in Hot Springs County, with operators including Merit Energy Company, Breitburn Operating LP, and Legacy Reserves Operating LP. We name operators because the record is public; this is not an endorsement. The activity is a county snapshot, not a measure of any one owner's interest.
Activity data for Hot Springs County: Wyoming Oil and Gas Conservation Commission (WOGCC) active wells (Wyoming GIS Center ArcGIS public service) (pulled 2026-06-17) . Public record, used with attribution.
See what your Hot Springs County minerals could be worth
Run a free estimate for an honest on-screen range, then talk it through with a real person. An estimate, not an offer, and never any pressure.