University Lands FY22 Annual Report

Lands staff knows this and provides the time and attention required to make the best decision, in each case, that balances the desire for revenue with the best interests of the UT System and stewardship of the land. The second part of our mission—to protect the interests of The University of Texas System—is all about our people. Without great people, we cannot do this job. We cannot judge what is in or is not in the best interest of the UT System without trusting our people and knowing they are well trained and have this interest in the forefront of their minds. I am proud of our team and the job they do, day in and day out, to manage such an important resource and to do so knowing that they are protecting a world-class institution with each thoughtful decision made in their daily work. But it’s more than the University Lands team. Each of us at University Lands relies on colleagues at the UT System and consultants to get our work done. Because of strong relationships, aligned goals, and focused dedication to the Lands, the UT System’s interests continue to remain safe and protected. Lastly, to promote awareness and sensitivity for the environment, it is important that University Lands continues to focus on restoration of these lands when operations have ceased, improving the resource when and where we can, and requiring operators to use best practices in their operations. That is why we’re proud to work with operators who reach and achieve environmentally-focused goals, including recycling 100 percent of their produced water and reducing—and even eliminating— known methane emissions. At University Lands, we know that decades after the last drop of oil has been pulled from the Permian Basin, the land will still be there and we will still be charged with its environmental stewardship. That is why we care. We will still be there. As we look forward and think hard about all the future opportunities in emerging and renewable energies, it reminds me that University Lands and the Permian Basin are not just in the oil and gas business, but in the energy business. Today, we are leaders in the oil and gas space and will continue to work hard to maintain that position. But as society transitions to a low-carbon future over the next several decades, University Lands expects to also become a leader in the production of emerging energy for the benefit of Texas and beyond. In the new year, we look forward to celebrating the 100th anniversary of the Santa Rita No. 1 well, which was discovered on May 28, 1923. This well not only launched oil and gas development on the PUF Lands, but was the spark that lit the fire that became the Permian Basin. The impacts of that well and the wildcatters who discovered it can be felt in every corner of our great state. So thank you to those visionaries who first saw the Land’s potential, to our employees who protect the Lands day in and day out, and to the UT System for giving me and everyone here at University Lands the opportunity to make a difference in our daily work. Here’s to the next 100 years!


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