Abstract: The “Wolfcamp Shale” of the Permian Basin in west Texas is a prime source of oil reserves within the USA. Despite its growing importance, definitive ages and stratigraphic correlations across the basin remain unclear. Fusulinid studies have assigned an approximate age of Late Pennsylvanian (Missourian) to early Permian (Leonardian) for the “Wolfcamp Shale,” but exact horizons for regional stage boundaries are not well defined. Analysis of conodont specimens from three cored basinal shale intervals of the Shell Stevens L1V well in the northern part of the Midland Basin (Lynn County, Texas) improves interpretation of regional stage boundaries within the “Wolfcamp Shale” and provides an accurate means of correlation to depositional cycles on the Eastern Shelf in central Texas. Conodont biostratigraphic markers were compared to log correlations and sequence stratigraphic correlations. Associated gamma-ray (GR) and resistivity (RES) logs show distinct log markers for the Pennsylvanian–Permian boundary and base of the Leonardian Stage that are traceable to immediately adjacent wells and possibly to portions of the southern part of the Midland Basin. Third- and fourth-order sequence stratigraphic cycles were delineated using core lithology, conodont abundances, and gamma-ray and resistivity readings. These sequences are linked to those observed in the Eastern Shelf stratigraphic sections and provide a useful secondary mode of correlation.