For this report, we analyzed public mineral deed records from 68 Oklahoma counties, with an emphasis on business-to-business (B2B) transactions. To keep the dataset consistent, we excluded deeds where the grantee name includes “Trust,” since these often reflect family or estate transfers rather than market activity.
All charts and maps below are generated from Convey640 data. This report is for informational purposes only and is not investment advice.
Cody Tucker, Co-Owner
Convey640
INTRO
The mood in Oklahoma’s oil and gas industry for 2025 felt cautious, which was understandable with prices down. Even so, total recorded consideration came in higher than in 2024. For this year’s report, we’re illustrating more and talking less. Let’s dive in.
WHO (GRANTEE)
The Top Grantee chart is based on the number of tracts (STRs) acquired, not mineral acres. Tract count isn’t a perfect measure of capital deployed. One STR with 0.25 net mineral acres is weighted the same as an STR with 250 net mineral acres.
To better reflect spending, we also review the total recorded consideration in a section below.
WHO (GRANTOR)
Now that we’ve looked at Grantees, let’s look at Grantors. In Convey640, you can view both sides of each transaction. Inside the platform, you can see the Grantors tied to each Grantee to understand who’s buying, selling, and brokering.
HOW MUCH & WHEN
We believe total recorded consideration is the strongest publicly available indicator of active mineral investment. It’s derived from doc stamps (75¢ per $500 recorded).
For the sake of time, we did not consolidate multiple funds under a single parent company. As a result, totals may be split across related entities, and rankings may not perfectly reflect combined spending. The goal is simply to highlight some of the top companies and funds deploying capital in Oklahoma.
In 2025, total recorded consideration across the counties examined was over $480 million.
The chart below shows some of the top-spending Grantees. They represent 52% of the total consideration spent in 2025. Thank you to these companies (and those not listed) for investing in the great state of Oklahoma.
The charts below illustrate monthly trends in the number of mineral deeds filed and the number of tracts (STRs) acquired within those deeds. Please note that tract count does not directly translate to acreage.
WHERE
The map and chart below are based on the total tracts recorded.
When filtered to the consideration leaders above, the county-level concentration of their activity becomes clear.
Overlaying pooling applications highlights a consistent pattern: top buyers concentrate acquisitions in areas with a higher likelihood of near-term drilling.
CLOSING
We hope you enjoyed this year’s Mineral Report. Even with lower prices, Oklahoma continued to attract mineral investment. Where oil and gas prices go from here is anyone’s guess, but we’ll stay optimistic.
Oklahoma remains a strong place to deploy mineral capital, backed by a pro-industry state, hardworking people, and top-tier geology.
DATA POWERED BY CONVEY640
If you are active in Oklahoma or considering investments in Oklahoma, we strongly encourage you to explore the Convey640 platform. Our comprehensive platform spans A&D, Regulatory, Drilling, and Production data, trusted by many leading companies in the industry. Discover the value others have found in Convey640 with a free 7-day trial or schedule a personalized demo using the links below.
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