Sell mineral rights in the Powder River Basin

Where the Powder River Basin lies and which counties matter

The basin covers more than 43,000 square miles, with small corners in South Dakota and Nebraska, and the oil resurgence is concentrated in the Wyoming portion (EIA, 2014).

Converse and Campbell counties are the center of activity. In 2024, Converse County produced 40.5 percent of Wyoming's oil and Campbell County produced 23.0 percent, out of a state total of 106.6 million barrels (WSGS, 2024). Johnson County, on the west side of the basin, is managed with Campbell and Sheridan by the BLM Buffalo Field Office, which describes the area as holding vast deposits of oil, gas and coal. Mineral rights in Johnson County see fewer rigs but sit in the same fairway.

On the Montana side, production is small and conventional. Powder River County produced about 1.2 million barrels of oil in 2024, almost all from the Bell Creek field, which ranked second among Montana oil fields that year (Montana Board of Oil and Gas Conservation, 2024). Mineral rights there are priced on steady older wells, not new drilling.

What Powder River Basin wells produce

Powder River wells produce oil first, with associated gas. In 2024, the five most productive reservoirs in the basin were the Frontier, Niobrara, Parkman and Turner sandstones and the Mowry Shale (WSGS). The Mowry is also the basin's main source rock, and the Shannon, Sussex, Teapot and Muddy are further horizontal targets. Older vertical wells still produce from conventional zones such as the Minnelusa and Tensleep, so mineral rights on one tract can carry royalty from wells of very different ages.

The turnaround came with horizontal drilling. Basin oil output rose from 38,000 barrels per day in 2009 to 78,000 in early 2014, with the Turner, Parkman and Niobrara growing from 12 to 46 percent of that output (EIA, 2014). Laterals now run past 2.5 miles (WSGS).

Gas is a smaller story. Coalbed natural gas output peaked above 584 billion cubic feet in 2009 and has declined since (WSGS). If your mineral rights carry an old coalbed lease, check whether those wells still produce.

Why mineral rights buyers compete in the Powder River Basin

Buyers compete here because the basin has stacked targets and many undrilled locations. An operator can land a lateral in the Turner, come back for the Parkman or Niobrara, and later test the Mowry under the same section, so a buyer of Powder River Basin mineral rights is pricing future wells as well as the ones already flowing.

The scale of planned drilling is public. The BLM's Converse County Oil and Gas Project, approved in December 2020, authorized up to 5,000 wells across about 1.5 million acres of mostly private surface over federal minerals (BLM, 2025). A court hold on new permits under that study was still in place in June 2025 (BLM, 2025). Buyers of mineral rights follow those filings closely.

One Wyoming detail matters more than elsewhere: much of the basin is split estate, where the surface is private but the minerals are federal. Before anyone makes an offer, confirm that your deed conveys private mineral rights, not just surface.

What Powder River Basin mineral rights are worth

Producing mineral rights are usually valued as a multiple of recent monthly royalty checks, adjusted for well age, decline and how many more laterals the operator can drill on the unit. Fresh permits lift the offer; a single older well does not.

Non-producing mineral rights are valued by the net mineral acre. Buyers weigh distance to active rigs, whether you are leased and at what royalty rate, which formations are proven nearby, and whether the acreage sits inside a planned development area.

Buyers verify everything before they bid. In Wyoming they use the Wyoming Oil and Gas Conservation Commission's data explorer for wells, permits and production; in Montana they use the Board of Oil and Gas Conservation's online data and GIS map. They also read county records, your lease and your division orders. Gather those documents first and every offer on your mineral rights arrives faster.

How to sell Powder River Basin mineral rights

Fill in the short form with your county, your interest type and whether it is producing. Your request goes to up to three independent buyers who are active in that county, and each one makes its own offer on your mineral rights.

You keep control. Take the best offer, negotiate, or keep your mineral rights if the numbers are not right. Owners never pay; the buyers pay us for the introduction. If you decide to sell mineral rights, letting several buyers compete is the fastest way to learn what the market will pay.

How to get offers for Powder River Basin mineral rights

Tell us the state and county and what you own. We send your request to up to 3 mineral rights buyers who purchase in that part of the Powder River Basin. They review the public records and contact you with offers, and you choose whether to sell, sell part, or keep.

Powder River Basin mineral rights questions

Last reviewed October 13, 2026. This page is general information, not legal or tax advice. Facts come from the official sources listed above; confirm anything that matters to your sale with a qualified professional.