30,843 wells across 1,842 recorded operators, with 126 drilling permits filed in the 24-month window at summary refresh.
Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-01.
Quick answer: The Palo Duro Basin formation in Texas has 30,843 wells on record across 1,842 recorded operators, with 126 drilling permits filed in the 24-month window at source refresh. Its operators with the most wells on record are Waggoner Operating,LLC, R2q Operating, Burk Royalty, Johnson & Ernst Operating Company and Quatro Oil And Gas. Source: Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-01.
The operators with the most well counts targeting the Palo Duro Basin formation in Texas:
| # | Operator | Wells in Palo Duro Basin |
|---|---|---|
| 1 | Waggoner Operating,LLC | 3,804 |
| 2 | R2q Operating | 1,600 |
| 3 | Burk Royalty | 943 |
| 4 | Johnson & Ernst Operating Company | 718 |
| 5 | Quatro Oil And Gas | 592 |
| 6 | S&G Oil | 559 |
| 7 | Bastrop Oil & Gas | 558 |
| 8 | Newport Operating | 394 |
| 9 | Stephens & Johnson Operating Company | 386 |
| 10 | Olenox CORP | 333 |
The Texas counties with the most Palo Duro Basin activity:
Wichita, Wilbarger, Hardeman, Foard, Hartley
The Palo Duro Basin is not among the Texas formations tracked separately in the yearly permit mix, so only statewide permit counts are shown.
| Year | State permits | This formation | Share | Median lateral |
|---|---|---|---|---|
| 2026 | 8,004 | — | — | — |
| 2025 | 8,037 | — | — | — |
| 2024 | 8,916 | — | — | — |
| 2023 | 9,280 | — | — | — |
| 2022 | 12,110 | — | — | — |
| 2021 | 9,907 | — | — | — |
| 2020 | 9,447 | — | — | — |
| 2019 | 15,566 | — | — | — |
Share of each year’s Texas drilling permits by target formation, for the formations with the most permits.
| Year | Permian Basin | Gulf Coast Basin (La - Tx) | Avalon-Bone Spring | Thirty-One Carbonate-Chert | Austin Chalk | East Texas Basin |
|---|---|---|---|---|---|---|
| 2026 | 58.1% | 17.8% | 0.5% | 1.4% | 0.7% | 5.9% |
| 2025 | 62.9% | 19% | 1.4% | 1.9% | 1.2% | 4.5% |
| 2024 | 65.7% | 20.9% | 0.5% | 2% | 0.7% | 3.8% |
| 2023 | 59.7% | 21.5% | 1.8% | 3.1% | 0.9% | 3.7% |
| 2022 | 44.7% | 16.7% | 2.9% | 4.6% | 2% | 3% |
| 2021 | 34.3% | 6.2% | 8.4% | 10.3% | 7.9% | 0.8% |
| 2020 | 24.4% | 3.3% | 11.6% | 9% | 11.2% | 0.3% |
| 2019 | 24.8% | 3.2% | 14% | 9.2% | 12.1% | 0.2% |
Buckhead Energy computes every figure on this page from grouped records in public oil and gas data. The page shows counts, sums, percentiles and indexes only; it does not list individual wells, leases or permits.
Counts under 3 wells and percentiles under 5 wells are withheld; totals are floors.
Share is the formation’s permits as a percent of the state’s permits that year. Median lateral length is published only when at least 5 permits stand behind it.
Last computed: 2026-11-01. These figures are informational only and are not a valuation of any mineral or royalty interest.
The Palo Duro Basin is a formation/play group recorded in Texas, with 30,843 wells on file across 1,842 distinct operators of record. Operators have filed 126 drilling permits targeting the Palo Duro Basin in the 24-month window at summary refresh. These are stored records, not a live measure of drilling.
Recorded formation activity provides regional context. It does not establish ownership, future production, royalty payments or a value for an individual tract. Consult qualified professionals about your specific interest.
30,843 wells target the Palo Duro Basin in Texas, worked by 1,842 recorded operators, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-01.
The Palo Duro Basin operators with the most wells on record in Texas are Waggoner Operating,LLC, R2q Operating, Burk Royalty, Johnson & Ernst Operating Company and Quatro Oil And Gas. The full ranking is in the table on this page. Formation summary date: 2026-11-01.
Operators filed 126 drilling permits targeting the Palo Duro Basin in the 24-month window at source refresh, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-01.
Operators filed 126 new drilling permits targeting the Palo Duro Basin in Texas in the 24-month window at source refresh. New permits and spuds record reported activity stages; they do not establish ongoing drilling, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-01.
Palo Duro Basin activity in Texas includes 30,843 wells on record and 1,842 recorded operators, with 126 drilling permits filed in the 24-month window at source refresh — from Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-11-01.
The primary counties recorded for Palo Duro Basin in Texas are Wichita, Wilbarger, Hardeman, Foard, Hartley. Formation summary date: 2026-11-01.
Value depends on your net mineral acres or royalty decimal, the operator, the remaining drilling locations, and current oil and gas prices. This page is informational only, not a valuation. Formation summary date: 2026-11-01.
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Get Your Free Written OfferFormation: Palo Duro Basin
State: Texas
Total wells: 30,843
Recorded operators: 1,842
Permits 24mo: 126
Summary date: 2026-11-01
