University Lands FY23 Annual Report

UL Activity by Basin

Activity Summary

ƒ Six oil and gas development agreements were executed, adding approximately 1MM lateral feet obligation (LFO) over the next five years

NORTHERN MIDLAND BASIN

Wells Spud

88

ƒ 262 horizontal wells began production

Producing Wells

81

ƒ 2.43 million lateral feet put on production

Producing Lateral Ft

752,650

Avg Lateral Length

9,292

UL Development Activity Percentages are based on metrics weighted for wells spud and wells put on line

DELAWARE BASIN

Wells Spud

102

~41% in Delaware Basin

Producing Wells

107

~31% Northern Midland Basin

Producing Lateral Ft

1,070,916

~21% in Southern Midland Basin

Avg Lateral Length

10,009

~7% Central Basin Platform

SOUTHERN MIDLAND BASIN

Oil & Gas Lease Sale #132

Wells Spud

72

ƒ ~17,500 acres leased

Producing Wells

70

ƒ $18.7MM in lease bonus

Producing Lateral Ft

530,988

ƒ ~$1,064 per acre average bonus

Avg Lateral Length

9,482

ƒ Leases sold as “blocks” to promote

horizontal development

CENTRAL BASIN PLATFORM

Wells Spud

23

Producing Wells

18

Producing Lateral Ft

81,049

Avg Lateral Length

6,754

31

Made with FlippingBook - Online magazine maker