Research list
Mineral and Royalty Companies: Every U.S. Listed Company Compared From Its Filings (2026)
Mineral and royalty companies own oil and gas minerals and royalties and earn a share of what operators produce, without drilling themselves. Six are listed on U.S. exchanges today, after two mergers in 2025; here is each one as its own latest filing describes it.
Where to look first
Six companies listed on U.S. exchanges make their living mainly from owning oil and gas minerals and royalties. Their filings describe the same kind of asset in different units, so the comparison below quotes each one as it is filed rather than forcing them into one number.
| Question | Answer |
|---|---|
| Which companies own the most mineral acreage? | Black Stone Minerals and Kimbell Royalty Partners, by gross acres in their filings |
| Which are focused on the Permian? | Viper Energy and Texas Pacific Land |
| Which buy from individual owners? | Black Stone, Kimbell, Viper, Texas Pacific Land and WhiteHawk invite owners to sell; Dorchester does not |
| Which left the market recently? | PHX Minerals in 2025, to WhiteHawk, and Sitio Royalties in 2025, to Viper |
How we checked
Every company below was read on its own page or filing on October 5, 2026, and each figure is given as that source states it. Nothing here is paid placement, and AMR earns nothing from any organization listed.
Acreage is quoted from each company’s latest 10-K or 10-Q on SEC EDGAR. Some state gross acres, some net royalty acres, and two normalize to a one eighth royalty, so the figures do not compare one to one. This is reference, not investment advice: it gives no prices, yields or opinions, and royalty trusts, which are passive trusts rather than companies, are in their own list.
How the companies compare
| Company | Ticker | Headquarters | Basins |
|---|---|---|---|
| Black Stone Minerals | NYSE: BSM | Houston, Texas | Haynesville and Bossier, Permian, Williston, Eagle Ford; interests in 41 states |
| Kimbell Royalty Partners | NYSE: KRP | Fort Worth, Texas | Permian, Mid Continent, Haynesville, Appalachia, Williston, Eagle Ford, DJ and Rockies |
| Viper Energy | Nasdaq: VNOM | Midland, Texas | Permian Basin only, after selling every non Permian asset on February 9, 2026 |
| Dorchester Minerals | Nasdaq: DMLP | Dallas, Texas | Permian, Bakken, Rockies and South Texas; mineral acreage in 28 states |
| Texas Pacific Land | NYSE: TPL | Dallas, Texas | Permian Basin |
| WhiteHawk Minerals | NYSE: WHK | Philadelphia, Pennsylvania | Haynesville and Appalachia |
1. Black Stone Minerals, the widest mineral footprint
Black Stone Minerals (NYSE: BSM) is a publicly traded partnership based in Houston, Texas.
- Acreage, as its filing states it
- Mineral interests in about 16.9 million gross acres, plus nonparticipating royalties in 1.8 million and overriding royalties in 1.6 million, at December 31, 2025
- Basins
- Haynesville and Bossier, Permian, Williston, Eagle Ford; interests in 41 states
- Buys from individual owners
- Yes, through a seller form on its acquisitions page
- Legal form
- Publicly traded partnership
Read on October 5, 2026: SEC EDGAR, Black Stone Minerals, 10-K for 2025
2. Kimbell Royalty Partners, royalties in 28 states
Kimbell Royalty Partners (NYSE: KRP) is a partnership taxed as a corporation based in Fort Worth, Texas.
- Acreage, as its filing states it
- Mineral and royalty interests in about 12.5 million gross acres, plus overriding royalties in about 4.8 million, at June 30, 2026
- Basins
- Permian, Mid Continent, Haynesville, Appalachia, Williston, Eagle Ford, DJ and Rockies
- Buys from individual owners
- Yes, through an owner form
- Legal form
- Partnership taxed as a corporation
Read on October 5, 2026: SEC EDGAR, Kimbell Royalty Partners, 10-Q for the quarter to June 30, 2026
3. Viper Energy, a Permian royalty company
Viper Energy (Nasdaq: VNOM) is a corporation (a partnership until november 2023) based in Midland, Texas.
- Acreage, as its filing states it
- About 87,440 net royalty acres at June 30, 2026, down from 96,003 at December 31, 2025
- Basins
- Permian Basin only, after selling every non Permian asset on February 9, 2026
- Buys from individual owners
- Yes, by email to its minerals team
- Legal form
- Corporation (a partnership until November 2023)
Read on October 5, 2026: SEC EDGAR, Viper Energy, 10-Q for the quarter to June 30, 2026
4. Dorchester Minerals, a partnership that pays out its royalties
Dorchester Minerals (Nasdaq: DMLP) is a publicly traded partnership based in Dallas, Texas.
- Acreage, as its filing states it
- Mineral interests in 2,953,000 gross and 473,000 net acres, plus royalty and overriding royalty acreage, at December 31, 2025
- Basins
- Permian, Bakken, Rockies and South Texas; mineral acreage in 28 states
- Buys from individual owners
- No invitation to sell on its site
- Legal form
- Publicly traded partnership
Read on October 5, 2026: SEC EDGAR, Dorchester Minerals, 10-K for 2025
5. Texas Pacific Land, a Permian landowner with royalties
Texas Pacific Land (NYSE: TPL) is a corporation based in Dallas, Texas.
- Acreage, as its filing states it
- About 894,000 surface acres and about 224,000 net royalty acres stated on a one eighth basis, in its June 30, 2026 report
- Basins
- Permian Basin
- Buys from individual owners
- Yes, its contact page invites owners selling royalty acreage
- Legal form
- Corporation
Its own royalty acreage page gives about 28,000 net royalty acres, which is the filing’s figure divided by eight; the two describe the same holdings on different bases.
Read on October 5, 2026: SEC EDGAR, Texas Pacific Land, 10-Q for the quarter to June 30, 2026
6. WhiteHawk Minerals, the newest listing, since June 2026
WhiteHawk Minerals (NYSE: WHK) is a corporation based in Philadelphia, Pennsylvania.
- Acreage, as its filing states it
- Not stated in its first quarterly report; its own site gives about 3.6 million gross unit acres, undated
- Basins
- Haynesville and Appalachia
- Buys from individual owners
- Yes, its land acquisitions page asks sellers in Pennsylvania, Louisiana, Texas and Oklahoma
- Legal form
- Corporation
Its acreage comes from its own site, not a filing, and the page carries no date; treat it as the company’s own description until a filing states it.
Read on October 5, 2026: SEC EDGAR, WhiteHawk Minerals, 10-Q for the quarter to June 30, 2026, its first
Merged or delisted since 2022
The sector has consolidated quickly, which is why older lists name companies that no longer trade.
| Company | What happened | Last filing |
|---|---|---|
| PHX Minerals | Acquired by WhiteHawk Minerals on June 23, 2025, and delisted | last 10-K, 2024 |
| Sitio Royalties | Merged into Viper Energy on August 19, 2025, and delisted | last 10-Q, June 2025 |
| Brigham Minerals and Falcon Minerals | Merged into Sitio Royalties in 2022 | See Sitio’s filings |
Common questions
What is a mineral and royalty company?
A company that owns mineral or royalty interests and earns a share of what operators produce from them, without drilling or paying for wells itself.
How is a royalty company different from a royalty trust?
A company can buy new interests and manage its holdings; a royalty trust is a passive vehicle that holds a fixed set of interests and passes the income through, as AMR’s list of royalty trusts explains.
What is a net royalty acre?
A unit that turns a royalty share into acres at a standard royalty rate; companies use different standard rates, which is why their figures differ.
Do these companies buy mineral rights from individuals?
Five of the six invite owners to sell on their own sites; each entry above says how.
Summary
The listed mineral sector is now six companies, after two mergers in 2025. For their holdings, read their filings; for the law that governs the minerals they own, see AMR’s Mineral Rights by State.
Sources
Every page below was opened on October 5, 2026.
- Black Stone Minerals, 10-K for 2025
- Kimbell Royalty Partners, 10-Q for the quarter to June 30, 2026
- Viper Energy, 10-Q for the quarter to June 30, 2026
- Dorchester Minerals, 10-K for 2025
- Texas Pacific Land, 10-Q for the quarter to June 30, 2026
- WhiteHawk Minerals, 10-Q for the quarter to June 30, 2026, its first
Cite this list
American Mineral Registry. "Mineral and Royalty Companies: Every U.S. Listed Company Compared From Its Filings (2026)." Release 2026.10.1, October 5, 2026. https:// americanmineralregistry.com/ research/ mineral-and-royalty-companies
[Mineral and Royalty Companies: Every U.S. Listed Company Compared From Its Filings (2026)](https:// americanmineralregistry.com/ research/ mineral-and-royalty-companies), American Mineral Registry, release 2026.10.1 (October 5, 2026).
<a href="https:// americanmineralregistry.com/ research/ mineral-and-royalty-companies">Mineral and Royalty Companies: Every U.S. Listed Company Compared From Its Filings (2026)</ a>, American Mineral Registry, release 2026.10.1 (October 5, 2026).
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