The Haynesville Shale is a major dry natural gas play in East Texas and northwest Louisiana. At depths of 10,000 to 13,000 feet, it is one of the deepest shale plays in the United States. The Haynesville has experienced a significant resurgence in recent years as higher natural gas prices and proximity to Gulf Coast LNG export terminals have made the play increasingly attractive to operators. We buy mineral rights, royalty interests, NPRI, and ORRI across the Haynesville trend.
Approximate location of the Haynesville Shale shown in tan
Basin-level activity chart not yet available for the Haynesville Shale. For current activity, see our rig count dashboard and the state production pages linked above.
The Haynesville Shale is a Late Jurassic-age organic-rich shale that produces dry gas with minimal liquids content. The formation sits at depths of 10,000 to 13,000 feet and is significantly overpressured, which drives very high initial production rates — modern Haynesville wells can produce 20 to 30 million cubic feet per day initially. The formation is 200 to 300 feet thick in the productive area. The Cotton Valley formation, which overlies the Haynesville, is also productive in many areas and provides a secondary target. The Haynesville's depth creates high drilling and completion costs, but the prolific initial rates and the premium pricing associated with Gulf Coast gas markets make the economics work.
Comstock Resources is the largest Haynesville operator, with a concentrated acreage position across both Texas and Louisiana. Aethon Energy (backed by RedBird Capital) has built a significant position. Rockcliff Energy, Vine Energy (now Chesapeake), and Sabine Oil & Gas are also active. The Haynesville operator base is smaller than the Permian's but includes well-capitalized companies with long-term drilling programs.
Haynesville mineral values are heavily influenced by natural gas prices because the play produces dry gas with minimal liquids content. This makes Haynesville valuations more sensitive to gas price movements than oil-weighted plays. However, the play's proximity to Gulf Coast LNG export terminals provides a structural advantage for Haynesville gas compared to gas produced in more landlocked basins. Other key value drivers include well productivity (modern Haynesville wells produce at very high initial rates), Cotton Valley secondary production potential, and the operator's drilling program.
Haynesville royalties are a natural-gas price bet, and that is exactly why valuing them takes more care than an oil royalty. The basin’s deep, high-pressure wells come on at enormous rates and decline hard, so trailing twelve-month income whipsaws with both the gas strip and each new completion — an offer made off last year’s checks can be badly wrong in either direction. What actually drives value here: proximity to Gulf Coast LNG demand (the structural story that keeps rigs running), your operator’s cadence in your survey or section, and whether your tract sits in the Texas core (Panola, Harrison, San Augustine, Nacogdoches) or the Louisiana parishes where unit rules differ.
We price Haynesville interests against the forward gas curve and the operator’s actual drilling pattern around your tract, not the rear-view mirror — written offer in 48 hours, no fees, no obligation. Gas-weighted royalties are also the classic case for diversification-driven selling: if most of your inheritance rides on one commodity’s price, locking in today’s LNG-era value for part of the position is a legitimate strategy, not a capitulation.
Additional counties we cover within the Haynesville Shale, sorted by recent oil and gas activity:
Two factors have driven the Haynesville's resurgence: rising natural gas prices (driven by LNG export demand and reduced associated gas from oil plays during price downturns) and the basin's proximity to Gulf Coast LNG export terminals. Haynesville gas can reach export markets with minimal transportation cost, which gives it a pricing advantage over gas produced in more landlocked basins like the Marcellus or Appalachian Basin.
Haynesville minerals generally trade at lower values than core Permian minerals because natural gas is less valuable per unit than oil, meaning the expected future production income is lower. However, Haynesville minerals can still be quite valuable — particularly in the core of the play where modern wells produce at very high rates. The LNG export premium also provides structural support for Haynesville gas prices.
The Cotton Valley is a tight sand formation that overlies the Haynesville Shale and is productive in many of the same counties. Cotton Valley production provides a secondary income stream for mineral owners in the Haynesville trend. While the Cotton Valley is a more mature play with lower per-well rates, it adds to the total production and reserve base on many tracts.