University Lands FY24 Annual Report

221

FINANCIALS

FY 2023

FY 2024

VARIANCE

$ millions, subject to rounding

Oil (MBBL)

17,879

19,962

12%

Gas (MMCF)

38,433

41,757

9%

NGLs (BBL)

6,219

6,832

10%

Million Barrels of Oil Equivalent (MBOE)

30,504

33,754

11%

West Texas Intermediate (WTI)

$81.45

$80.00

-2%

Avg. Oil Price Received ($/BBL)

$82.08

$80.45

-2%

Avg. Gas Price Received ($/MCF)

$3.64

$1.49

-59%

Avg. NGL Price Received ($/BBL)

$26.46

$21.84

-18%

Oil Revenue

$1,484

$1,582

7%

Gas Revenue

$139

$63

-55%

NGL Revenue

$163

$150

-8%

Bonuses, Unitization Payments

$79

$55

-31%

TOTAL

$1,865

$1,850

-1%

Water, Caliche, Damages

$36

$40

11%

Grazing

$5

$5

-4%

Easements, Renewables & Salt Water Disposal

$77

$79

3%

Interest, Penalty, Assignment Fees

$3

$2

-24%

TOTAL

$121

$127

4%

TOTAL REVENUE

$1,986

$1,977

-0.4%

General & Administrative + Operating Costs

22

28

27%

$/Barrel of Oil Equivalent Production

0.72

0.83

15%

NET REVENUE

$1,964

$1,949

-1%

ANNUAL REPORT 2024

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