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Leases for Oil and Gas Development

University Lands (UL) manages the mineral interests of the 2.1 million acres of PUF Lands. UL leases the land to oil and gas operating companies and retains a royalty interest in any mineral production. New and enhanced technology, including horizontal drilling and hydraulic fracturing, has led to significant growth in production in the recent decade.

Benefits of Operating on University Lands

  • Large Contiguous Blocks of Acreage with clean titles and one single land owner are available
  • Extensive GIS, geologic, well and production data is available and easily accessible online
  • Competitive Lease Terms
  • All processes and procedures are clear and well-established, including for permitting of geophysical, salt water disposal, water and brine contracts
  • A knowledgeable and experienced staff ready to assist
  • University Lands’ revenues are exclusively for the benefit of higher education

Snapshot: Oil and Gas Activity on PUF Lands

  • 1.4 Million Acres Leased for Development
  • 4,000 Active Leases
  • 20,000 Wells Drilled to Date
  • 1,900 Horizontal Wells Drilled
  • 9,000 Producing Wells
  • >200 Operating Companies
  • 220,000 Barrel of Oil Equivalent (BOE) Daily Gross Production
  • 40,000 BOE Daily Net Production
  • 202 Million BOE Proved Reserves
  • 1,548 Million BOE 3P (Proved, Probable and Possible) Reserves
  • 21,000 Identified Drilling Locations