# Olney Consolidated Field Mineral Rights in Richland County, Illinois

## TL;DR

The Olney Consolidated Field is a long-tenured Illinois Basin producer in Richland County, Illinois, operating under continuous waterflood from Mississippian-age reservoirs including Cypress Sandstone, Aux Vases Sandstone, and McClosky Limestone. Many mineral interests are inherited multiple generations deep from original early-1900s leases, creating small but stable long-tail royalty payments typical of mature Illinois Basin operations. Direct buyers evaluate these interests using 15-30+ year reserve life assumptions and 9-13% discount rates for stable waterflood cash flows.

## Key Takeaways

- **Olney Consolidated Field is a long-tenured Richland County, Illinois producer** operating on continuous waterflood managed by multiple private operators in the Illinois Basin
- **Production comes from three Mississippian-age formations**: Cypress Sandstone, Aux Vases Sandstone, and McClosky Limestone
- **Typical mineral interests are inherited multiple generations deep** from original leases dating to the early 1900s, with heirs often spread across multiple states
- **Cash flow profile is characterized by small monthly checks over decades**, reflecting the long-tail decline rates (3-7% annual) typical of mature Illinois Basin waterflood operations
- **Remaining reserve life typically spans 15-30+ years** on actively-maintained waterflood units with predictable production from long-tenured operators
- **Valuation uses discounted cash flow methodology** with discount rates of 9-13% for stable waterflood operations
- **Out-of-state owners are common** and can sell remotely with deed signing, county recording, and wire transfer handled by direct buyers
- **Select acreage may have Mt. Simon Sandstone CCS potential** beneath producing zones, adding 45Q tax credit optionality in areas near the Wabash Valley Resources hub

## Page Highlights

**Field Overview**: The Olney Consolidated Field is managed by multiple long-tenured private operators in Richland County, part of the broader Illinois Basin — one of North America's longest-producing regions with continuous oil production since the late 1800s.

**Producing Formations**: Production derives from Mississippian-age Illinois Basin reservoirs including Cypress Sandstone, Aux Vases Sandstone, and McClosky Limestone, all maintained under continuous waterflood operations.

**Mineral Interest Profile**: Interests typically include producing royalty, non-producing fee mineral ownership, overriding royalty (ORRI), and non-participating royalty (NPRI), with many inherited multiple generations from early-1900s leases creating dispersed out-of-state ownership.

**Valuation Considerations**: Direct buyers use discounted cash flow models incorporating 3-7% annual decline rates, 15-30+ year remaining reserve life, operator quality assessment, 9-13% discount rates, and potential CCS/45Q optionality from underlying Mt. Simon Sandstone sequestration potential.

**Selling Process**: Remote sales are standard for out-of-state owners, with free written offers, local notary deed signing, county clerk recording, and wire transfer of proceeds on recording day.

**Regional Context**: The field is one of nine major Illinois Basin fields listed, including Clay City Consolidated, Salem Consolidated, Loudon, New Harmony Consolidated, Mt. Carmel, Lawrence, Main Consolidated, Bridgeport, and Westfield.

## Related Topics

- [Illinois Basin — The Definitive 2026 Guide](https://www.buckheadenergy.com/illinois-basin)
- [How to Sell Mineral Rights](https://www.buckheadenergy.com/how-to-sell-mineral-rights)
- [What Are My Minerals Worth?](https://www.buckheadenergy.com/what-are-my-minerals-worth)
- [Should I Sell?](https://www.buckheadenergy.com/should-i-sell)
- [Getting a Fair Price](https://www.buckheadenergy.com/getting-a-fair-price)
- [US Drilling Activity Index](https://www.buckheadenergy.com/us-drilling-activity-index)
- [Oil & Gas Market Data Hub](https://www.buckheadenergy.com/oil-gas-market-data)

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**About Buckhead Energy**: Buckhead Energy is a BBB-accredited mineral rights acquisition company buying mineral and royalty interests across 33 states with its own capital since 2007.

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