The Wolfcamp formation

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What kind of interest do you own? Not sure Producing — I get monthly or quarterly checks Leased but not producing — bonus paid, no checks yet Not leased / not producing — I just own the minerals I am not sure

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Net mineral acres

Royalty fraction Not sure 1/8 (12.5%), historical standard3/16 (18.75%), modern standard1/5 (20%), common in the Permian1/4 (25%), hot plays1/6 (16.67%), federal minimum since 2022

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The Wolfcamp is the workhorse of the Permian Basin. Deposited in the Permian period, it is not one bed but a stack of organic-rich shale and carbonate benches, commonly split into the Wolfcamp A, B, C, and D, that operators drill horizontally through both the Delaware Basin on the New Mexico and far West Texas side and the Midland Basin on the eastern side. Because the column is so thick and stacked, a single section of minerals can support many wells across multiple benches, which is the main reason producing Wolfcamp interests are valued so highly. For a mineral owner, the practical point is that a Wolfcamp royalty is usually a long-lived, multi-bench income stream, and its value still follows the standard income multiple applied to your actual checks, not to any headline resource number.

Wolfcamp geology

Age and lithology

Permian-age (roughly 270 to 300 million years old) interbedded organic-rich shale, mudstone, and carbonate, deposited in a deep-water basin setting. Source: USGS National and Global Petroleum Assessment.

Stacked benches

Commonly subdivided into the Wolfcamp A, B, C, and D benches, each a separate horizontal target, which is why one tract can host several wells.

Where it produces

Both the Delaware Basin (Lea and Eddy counties in New Mexico; Loving, Reeves, Ward in Texas) and the Midland Basin (Midland, Martin, Howard, Glasscock, Reagan, Upton).

How much oil and gas the Wolfcamp holds

The USGS assessed the Wolfcamp and Bone Spring of the Delaware Basin to hold a mean of about 46.3 billion barrels of undiscovered, technically recoverable oil, plus large associated gas and natural gas liquids. The earlier Midland Basin Wolfcamp assessment estimated a mean of about 20 billion barrels of oil. These are undiscovered play-wide resource estimates, not proven reserves and not a measure of any individual property.

Source: USGS Fact Sheet 2018-3073 (Wolfcamp and Bone Spring, Delaware Basin) and Fact Sheet 2016-3092 (Wolfcamp, Midland Basin).

Counties in the Wolfcamp play

These are the counties and parishes we cover where state commission records show the Wolfcamp producing, with active well counts from that same record.

What the Wolfcamp means for your minerals

A resource estimate for a play is not the value of your acreage. Your mineral and royalty interest is valued on the income your wells actually pay, roughly 36 to 72 times your average monthly royalty check, the same as 3 to 6 times your annual royalty. Where you land in that band depends on your wells decline, the operator, your royalty rate, and any undeveloped drilling upside. For the full method and to request your free estimate, see what are my mineral rights worth.

The Wolfcamp is part of the Permian Basin. For the basin-wide value bands and the counties we buy in, see the Permian Basin page.

Wolfcamp questions

What is the Wolfcamp formation?

The Wolfcamp is a thick, stacked Permian-age shale and carbonate interval in the Permian Basin of West Texas and southeast New Mexico. It is the largest continuous oil and gas accumulation the USGS has assessed in the United States, and it is the primary horizontal target across both the Delaware and Midland basins.

Does a Wolfcamp resource estimate tell me what my minerals are worth?

No. USGS Wolfcamp figures are undiscovered, technically recoverable resource estimates for the entire play, not proven reserves and not a per-acre value. Your minerals are valued on the income your specific wells actually pay, roughly 36 to 72 times your average monthly royalty check. This is an estimate, subject to verification, not an offer.

Why are Wolfcamp minerals so valuable?

Because the Wolfcamp is a thick stack of separate benches, one tract can support many horizontal wells, so a producing Wolfcamp interest tends to be a long-lived, multi-well income stream. That is why Wolfcamp counties like Midland, Martin, Lea, and Eddy carry some of the highest mineral values in the country.

Sources

• USGS Fact Sheet 2018-3073, Delaware Basin Wolfcamp and Bone Spring
• USGS Fact Sheet 2016-3092, Midland Basin Wolfcamp

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