Olney Consolidated Field Overview

Counties: Richland (Illinois)

Field: Olney Consolidated

Production mechanism: continuous waterflood

Operators: Multiple long-tenured private operators

Distinguishing feature: long-tenured Richland County producer

About the Olney Consolidated Field

Multiple operators run the Olney Consolidated field — a long-tenured Richland County position. The field has been on continuous waterflood for decades.

The Olney Consolidated field is part of the broader Illinois Basin producing region — one of North America's longest-producing oil and gas regions, with continuous oil production recorded since the late 1800s. The field has the long-tail royalty cash flow profile that characterizes mature Illinois Basin operations: small monthly checks for many decades.

Producing Formations

The Olney Consolidated field produces from one or more of these Mississippian-age Illinois Basin reservoirs:

Cypress Sandstone

Aux Vases Sandstone

McClosky Limestone

For deeper formation context see our Aux Vases Sandstone, Cypress Sandstone, McClosky Limestone, Salem Limestone, and Tar Springs Sandstone formation pages.

Mineral Interest Profile

Mineral interests on the Olney Consolidated field typically take one of these forms:

Producing royalty interest — your tract's contribution to the field's monthly revenue, paid by the operator

Non-producing mineral interest — fee mineral ownership in a tract currently outside active producing zones

Overriding royalty interest (ORRI) — a royalty carved out of a working interest

Non-participating royalty interest (NPRI) — a royalty interest with no leasing or development rights

Many Olney Consolidated field interests are inherited multiple generations deep, with original lease bonus paid in the early 1900s. Current Illinois Basin mineral owners frequently include heirs spread across multiple states. Indiana's 20-year Dormant Mineral Act creates particular urgency for absentee owners on cross-border fields.

Valuation Considerations

Direct buyers value Olney Consolidated field mineral interests using a discounted cash flow approach with these key inputs:

Decline rate — typically 3-7% annual on long-life Illinois Basin waterflood fields

Remaining reserve life — often 15-30+ years on actively-maintained units

Operator quality — long-tenured Illinois Basin operators typically deliver predictable production

Discount rate — typically 9-13% for stable Illinois Basin waterflood cash flows

CCS / 45Q optionality — selected Illinois Basin acreage has Mt. Simon Sandstone CCS sequestration potential beneath the producing zones (Wabash Valley Resources hub area)

Selling Olney Consolidated Field Mineral Rights

Buckhead Energy buys mineral rights and royalty interests on the Olney Consolidated field. Out-of-state owners are common — many Illinois Basin interests are inherited multiple generations deep. We handle the entire process remotely: free written offer by email, deed signed before a notary in your state, recorded with the Richland County clerk, and proceeds wired the day of recording.