27
GAINES
DAWSON
HIGHLIGHTED UL DEVELOPERS
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ANDREWS
MARTIN
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WELL ACTIVITY
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Northern Midland Basin & Central Basin Platform
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WARD
ECTOR
MIDLAND
CRANE
WINKLER OVING
WINKLER
UPTON
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ECTOR
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MIDLAND
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REAGAN
IRION
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30
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120
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Miles
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SCHLEICHER
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PECOS
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CROCKETT
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CRANE
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UPTON
Et parisciis aut faccusa
REEVES
SUTTON
TERRELL
Delaware Basin & Central Basin Platform
Southern Midland Basin, Pecos Basin & Val Verde Basin
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Miles
BREWSTER
Key Oil & Gas Development Activity PECOS 0 30
60
120
Miles
The PUF Lands span the Delaware Basin, Northern Midland Basin, Southern Midland Basin, and the Central Basin Platform with more than 200 companies operating ≈11,500 producing wells. New development in FY24 saw a total of 291 wells come online, of which 289 were horizontal wells with a cumulative ≈3.1 million lateral feet. Production from PUF Lands hit 431,500 barrels of oil equivalent per day, and UL’s cumulative net royalty production for the fiscal year was 33.7 million barrels of oil equivalent. To ensure continued development and value creation, UL negotiated eight development agreements on approximately 70,000 acres, adding approximately 2.6MM lateral feet obligation of drilling commitment over the next 6 years.
ANNUAL REPORT 2024
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