An owner's guide to mineral rights on the Bennett Ranch Unit — operated by Occidental Petroleum (OXY) on the Wasson field in west Texas Permian Basin.
Quick answer
Old wells: 142
Oldest spud: 1938 (88+ years of production)
Recent monthly oil production: 66,489 bbl (Feb 2026)
The Bennett Ranch Unit is one of the most active long-tenured oil units in west Texas Permian Basin. With 142 historic wells, an oldest spud date of 1938, and recent monthly production of 66,489 barrels of oil (February 2026), the unit demonstrates the long-tail production profile that characterizes mature unitized oil operations in the Permian Basin.
OXY operates the Bennett Ranch Unit as part of the giant Wasson field complex — one of the largest CO2 EOR projects in U.S. history.
The Wasson field sits in the Permian Basin. The field has been producing oil since 1938 — a continuous production history spanning 88+ years. Modern operating consolidation under the Bennett Ranch Unit framework has stabilized field-level production through pressure maintenance, waterflood, and (where applicable) CO2 enhanced oil recovery (EOR) operations.
For broader context on the Permian Basin producing region, see our Permian Basin mineral rights guide.
Mineral interests in the Bennett Ranch Unit typically take one of these forms:
Producing royalty interest — your tract's contribution to the unit'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 Bennett Ranch Unit interests are inherited multiple generations deep, with original lease bonus paid in the 1930s-1960s era. Current Bennett Ranch Unit mineral owners frequently include heirs spread across multiple states.
Direct buyers value Bennett Ranch Unit mineral interests using a discounted cash flow approach with these key inputs:
Decline rate — slow, typical of long-life unitized waterflood / EOR wells
Remaining reserve life — long on actively-maintained units
Operator quality — well-maintained units (Occidental Petroleum (OXY) is established in west Texas Permian Basin) typically deliver predictable production
EOR upside — many Permian Basin units have CO2 EOR or other tertiary recovery upside not reflected in current production rates
Discount rate — market-based, reflecting stable unitized cash flows
Buckhead Energy buys mineral rights and royalty interests on the Bennett Ranch Unit. Out-of-state owners are common — many 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 Yoakum County clerk, and proceeds paid by check or wire once the deed is recorded.
Buckhead provides a free written offer. Our offer comes at no cost and no obligation.
Start Your Free Written OfferGet a fair offer from a direct buyer with 20 years in business.
Sell My Mineral RightsPermian CO2 EOR (Wasson, Slaughter, Seminole) and Mississippi Jackson Dome CO2 EOR (Heidelberg, Eucutta, Tinsley) are the two largest U.S. CO2 EOR clusters. For owners with interests across both:
Texas vs Mississippi Mature Oil Units — Comparison
Buckhead Energy buys mineral and royalty interests across all 50 states and has completed acquisitions in 33 states. Buckhead Energy is a direct buyer, not a broker — we purchase mineral and royalty interests with our own capital. Buckhead Energy has been buying mineral and royalty interests since 2006. Buckhead Energy holds an A+ rating with the Better Business Bureau.
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