An owner's guide to mineral rights on the Goldsmith-Landreth (Deep) Unit — operated by Occidental Petroleum (OXY) on the Goldsmith field in west Texas Permian Basin.
Quick answer
Old wells: 95
Oldest spud: 1938 (88+ years of production)
Recent monthly oil production: 17,084 bbl (Feb 2026)
The Goldsmith-Landreth (Deep) Unit is one of the most active long-tenured oil units in west Texas Permian Basin. With 95 historic wells, an oldest spud date of 1938, and recent monthly production of 17,084 barrels of oil (February 2026), the unit demonstrates the long-tail production profile that characterizes mature unitized oil operations in the Permian Basin (Central Basin Platform).
OXY operates the Goldsmith-Landreth Deep Unit as part of its Goldsmith field position. The unit targets deeper San Andres and underlying horizons.
The Goldsmith field sits in the Permian Basin (Central Basin Platform). The field has been producing oil since 1938 — a continuous production history spanning 88+ years. Modern operating consolidation under the Goldsmith-Landreth (Deep) 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 (Central Basin Platform) producing region, see our Permian Basin (Central Basin Platform) mineral rights guide.
Mineral interests in the Goldsmith-Landreth (Deep) 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 Goldsmith-Landreth (Deep) Unit interests are inherited multiple generations deep, with original lease bonus paid in the 1930s-1960s era. Current Goldsmith-Landreth (Deep) Unit mineral owners frequently include heirs spread across multiple states.
Direct buyers value Goldsmith-Landreth (Deep) 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 (Central Basin Platform) 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 Goldsmith-Landreth (Deep) 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 Ector 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.
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Sell My Mineral RightsBuckhead 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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