Production by state
Your royalty check is a tiny slice of a state-sized stream. Whether that stream is growing or declining is the context behind every income-multiple valuation — growth states support the top of the 3–6× band; decline makes the low end honest.
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How a seller reads this
- State trend ≠ your wells. A growing state can hold declining wells (and vice versa). The state line sets context; your check stubs and decline curve set the value.
- Gas and oil diverge. Watch the line that matches your minerals — gas-weighted interests live on the gas trend and the LNG cycle.
- Growth attracts capital. Rising state production is why buyers concentrate mail in some counties — and why competitive listing works hardest there.
Source: U.S. Energy Information Administration. Snapshot data; refreshed periodically.
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