University Lands FY24 Annual Report

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WATER SUPPLY & LOGISTICS

Water is a critical resource on the PUF Lands, essential for oil and gas development, grazing, agriculture, and other surface activities. Recognizing its importance, University Lands (UL) is dedicated to safeguarding groundwater through comprehensive management strategies that encompass the entire water cycle. In fiscal year 2024, UL continued to implement its Groundwater Management Plan, which emphasizes the protection and conservation of aquifers beneath the PUF Lands. This plan balances commercial activities with sustainable water use, ensuring the long-term health of the Permian Basin’s water resources. Key initiatives include: Water Supply & Logistics

Promoting Water Recycling:

Research & Collaboration:

To ensure accurate accounting of water usage, UL requires mineral developers to meter and report water volumes extracted and transported. This data collection involves over 461 operator-owned water meters and nine water import meters, reported monthly. Monitoring & Reporting:

UL actively participates in research and works diligently with subject matter experts and environmental organizations to enhance water management practices. For instance, Richard Brantley, Senior Vice President of Operations, is a past chairman and active member of the Permian Basin Water in Energy Conference. The conference fosters industry collaboration on best practices and explores new opportunities, such as the beneficial reuse of produced water. It brings together water management companies, researchers, and regulators to conserve groundwater and minimize seismic risks.

UL encourages operators to recycle produced water for drilling and completion processes, reducing dependence on fresh groundwater. Recycling produced water can decrease fresh groundwater usage by approximately 60% per well. However, this practice requires additional infrastructure, such as recycling facilities and transfer systems.

Looking ahead, UL plans to enhance its water management strategies in 2025, focusing on the full water management cycle to further conserve and protect the PUF Lands’ water resources. This commitment reflects UL’s dedication to continuous improvement and environmental stewardship. By integrating these initiatives, UL strives to ensure the sustainable use of water resources, balancing the needs of commercial ventures with the imperative to protect and conserve groundwater for future generations.

barrels of produced water were used for oil and gas well completions in FY24, preserving a significant volume of groundwater across University Lands. 120 MILLION

ANNUAL REPORT 2024

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