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
The Goldsmith-Landreth (Deep) Unit is one of the long-tenured oil units in west Texas Permian Basin, with the long-tail production profile that characterizes mature unitized oil operations in the Permian Basin (Central Basin Platform). For statewide context, see our Texas oil and gas production distribution, which shows aggregates only.
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 a long, continuous production history. 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 payment typically made by check after the deed is recorded.
Buckhead provides a free written offer. Our offer comes at no cost and no obligation.
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