American Royalty Buyers is a direct buyer of non-operated working interests in the Permian Basin and across the United States — including positions with upcoming capital or plugging liability others avoid.
A working interest is an ownership stake in the oil and gas lease itself — the right to drill and produce, together with the obligation to pay a share of the costs. A non-operated working interest (a “non-op” interest) is a working interest in a well or unit that someone else operates. You own a share of the well and its production, but another company — the operator — drills the wells, runs day-to-day operations, and makes the decisions. Unlike a royalty, a working interest is cost-bearing: you receive your share of revenue net of the royalty burden, but you also pay your share of drilling and operating costs through joint interest billings (JIBs).
A non-operated working interest is the one ARB-eligible instrument that costs money to own. You receive revenue, but you also pay your share of operating costs and capital — and you carry plugging-and-abandonment liability at the end of a well’s life.
Selling a working interest is a different exercise from selling a royalty or mineral interest, because the buyer is taking on obligations, not just a revenue stream. A non-op working interest carries authorizations for expenditure (AFEs) when new wells are proposed, ongoing joint interest billings for operating costs, exposure to months when costs exceed revenue, and end-of-life plugging and abandonment (P&A) liability. Valuation is therefore margin-based — revenue minus lease operating expense, capital, and production taxes — and diligence covers the joint operating agreement (JOA), the operator’s development plans, and any AFE backlog.
Because a working interest is cost-bearing, its value turns on margins and obligations, not just gross revenue. The factors a buyer weighs include:
ARB is a Fort Worth, Texas direct buyer of non-operated working interests — and we buy the positions many others avoid, including interests with upcoming AFEs, thin margins, or end-of-life P&A exposure. We purchase with our own capital and assume the cost obligations going forward, so you step out of the JIBs and the plugging liability entirely. There are no fees or commissions, we deliver a written, no-obligation offer, we handle the title and assignment work and coordinate any operator or JOA requirements, and we pay by wire at closing.
American Royalty Buyers does not provide tax, legal, or investment advice, and the descriptions above are general and educational. Every interest is different — confirm the specifics of your interest, and consult a qualified professional, before any transaction.
It is an ownership stake in an oil and gas lease where another company operates the wells. You own a share of production and pay your share of drilling and operating costs through joint interest billings, but you do not run operations or make the development decisions.
A royalty (mineral, NPRI, or ORRI) is cost-free — the holder receives revenue without paying expenses. A working interest is cost-bearing: you receive revenue net of the royalty burden but also pay your share of operating costs, capital, and end-of-life plugging liability. That cost exposure is the defining difference.
A joint interest billing (JIB) is the operator’s monthly bill for your share of operating costs. An authorization for expenditure (AFE) is the cost estimate the operator sends when proposing a new well or major project, asking you to fund your share. Both are normal parts of owning a non-operated working interest.
Yes. American Royalty Buyers buys non-operated working interests including those with upcoming AFEs, thin margins, or plugging-and-abandonment exposure. ARB purchases with its own capital and assumes the cost obligations going forward, so you step out of the JIBs and the P&A liability.
Value is margin-based — revenue net of operating costs, capital, and taxes — and it accounts for remaining development, the operator, decline, P&A liability, and the JOA terms. There is no universal price; ARB provides a free, no-obligation valuation built from your specific interest.
Usually you do not need consent, but the joint operating agreement may give other parties a preferential right to purchase or require notice. ARB reviews the JOA and handles those requirements as part of closing, at no cost to you.