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Oil and gas development has been a cornerstone of Texas higher education and a critical component of the Texas economy for more than 100 years.  The benefits of oil and gas development to the University of Texas and Texas A&M Systems have been immeasurable, resulting in countless opportunities for millions of students and providing critical support for major advances in medicine, healthcare, education, and research in the State of Texas since the late 1800s.  University Lands recognizes that oil and gas developers are facing the most challenging time in the history of the industry due to the consequences of the COVID-19 pandemic and geopolitical events.  To help mitigate the effects of these events on our operators, University Lands is considering all reasonable operator requests and will take action to approve certain requests if University Lands management determines that granting the request falls within statutory constraints and maintains the fiduciary duties owed by University Lands to the University of Texas and Texas A&M Systems and the Permanent University Fund.   For example, at this time, an operator’s request to defer drilling obligations may be considered reasonable.   University Lands staff will review each request and consider all facts, with due consideration and weight given to the current crises affecting our operators, and will respond as quickly as possible.

 

To notify University Lands of requests and initiate a discussion, operators should email UL_LandMinerals@utsystem.edu.   University Lands is committed to doing what it can, working with our operators, to restore stability to the industry, which is so critical to the institutions we serve, the State of Texas, and the United States.