Original Santa Rita Oil Rig Moves to UT Austin Campus
In 1940, the original equipment from the Santa Rita #1 well was salvaged when the Marathon Oil Company replaced it with an all-steel pulling derrick and associated equipment. That original equipment was preserved through the efforts of the Texas State Historical Association and in 1958 it was installed
on the UT Austin campus in recognition of its importance to education in the state. Its presence commemorates a time of transformation for both the University of Texas and Texas A&M University Systems, which shared in the Land’s royalties.
1929 1990 1958
Board for Lease of University Lands
Santa Rita Well Plugged The Santa Rita #1 well was taken out of service and plugged in 1990 after 67 years of service.
On March 29, 1929, the 41st Legislature passed “Chapter 282,” which created four management organzations for University Lands, including the Board for Lease (BFL) of University Lands, with authority over the leasing of oil and gas on Permanent University Fund (PUF) Lands.
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