University Lands FY23 Annual Report

FINANCIALS

FY 2023

FY 2022

Variance

$ millions, subject to rounding

Oil (MBBL)

17,505

17,879

2%

Gas + NGLs (MMCF)

54,453

55,800

2%

Million Barrels of Oil Equivalent (MBOE)

26,581

27,179

2%

West Texas Intermediate (WTI)

$87.81

$81.45

-7%

Avg. Oil Price Received

$88.60

$82.08

-7%

Avg. Gas Price Received (including NGLs)

$7.43

$5.32

-28%

Oil Revenue

1,556

1,484

-5%

Gas Revenue

421

302

-28%

Bonuses, Unitization Payments

147

79

-46%

Total

$2,125

$1,864

-12%

Water, Caliche, Damages

25

36

42%

Grazing

7

5

-30%

Easements, Renewables & Salt Water Disposal

62

77

25%

Interest, Penalty, Assignment Fees

2

3

74%

26%

Total

$96

$121

TOTAL REVENUE (Gross)

$2,220

$1,986

-11%

General & Administrative + Operating Costs

16%

19

22

$/Barrel of Oil Equivalent Production

13%

0.72

0.82

NET REVENUE

$2,201

$1,964

-11%

26

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