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Oil & Gas Management
Oil and gas minerals generate significant revenue from the Permanent University Fund (PUF) Lands. In fiscal year 2024, University Lands (UL) maintained its focus on strategic and sustainable development of these valuable resources. UL takes an innovative and collaborative approach to optimizing resource extraction and stewardship of the PUF Lands. The combined expertise of our land, legal, geoscience, engineering, and other expert teams allows UL to achieve our goals through the following approaches:
Adopting Best Practices: Implementing advanced development strategies, including optimization of completion designs, well spacing, stacking, and landing depths, to enhance efficiency and output. Facilitating Development Programs: Collaborating with operators to design and maintain consistent, well-paced development programs tailored to maximize long-term value. Technical and Subsurface Analysis: Conducting rigorous technical studies and subsurface analyses to uncover untapped recoverable resources and refine exploration strategies. Promoting Growth and Economic Efficiency: Assisting operators in testing new formations, piloting innovative well spacing designs, and adopting completion methods to improve economic outcomes. Advancing Data Analytics : Enhancing compliance protocols and data retrieval processes, supported by cutting-edge data analytics, to drive informed decision-making.
Maximizing Horizontal Development: Identifying opportunities to repatriate acreage and fostering collaboration among operators to align and optimize horizontal development initiatives. Strategic Contract Negotiations: Crafting and negotiating agreements to ensure maximum value extraction while safeguarding the interests of the PUF Lands. Proactive Development Strategies: Identifying and implementing proactive strategies such as the new “Area Contract for Development” that promote the strategic development of acreage. Enforcing Contractual and Statutory Rights: Ensuring all agreements adhere to established contracts and applicable state laws, protecting the integrity of operations on the Lands.
These concerted efforts are designed to help operators achieve greater success while ensuring that revenue generated from the PUF Lands continues to benefit the University of Texas and Texas A&M Systems for generations to come. UL remains committed to innovation and stewardship, ensuring that both current and future development activities align with our mission to responsibly manage this unparalleled resource.
UNIVERSITY LANDS
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