CEO MESSAGE
At University Lands, 2022 was a banner year. Not only did we end the fiscal year with our highest production and revenue ever, which you can read more about in the pages that follow, we also received national attention thanks to a certain buzzworthy article. Last fall, Bloomberg published an extensive article on The University of Texas System endowment and the lands that have helped make it the second largest in the country, close on the heals of top contender, Harvard University. The article highlighted the many natural resources these lands hold and opined that it is more than oil and gas that will generate returns over the next few decades. While I’m proud of these accolades and achievements, none of it happened overnight. Our continued growth and success are a culmination of well-designed strategies implemented at University Lands well before my time at the helm. University Lands and its employees are committed to our mission: to maximize the revenue from the PUF Lands, protect the interests of The University of Texas System, and promote awareness and sensitivity for the environment. This mission—the connective tissue that holds us together and focuses our collective efforts—is important enough to discus in more detail in this letter. First, when it comes to maximizing revenue from PUF lands, we know that currently our revenue is dominated by oil and gas royalties. We embrace this and work with operators every day to help grow this royalty revenue. We also know that University Lands generates revenue from many other diverse sources that require and deserve our focus. The University
William R. “Billy” Murphy, Jr., University Lands CEO (left) with Harold G. Hamm, Founder of Continental Resources (right)
5
Made with FlippingBook - Online magazine maker