Accounting
- Mineral Interests
- Surface Interests
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Accounting
Contacts
University Lands Accounting is responsible for the timely deposit
of all University Lands revenue and allocation of revenue to the proper leases and accounts.
University Lands Accounting audits oil and gas production, reconciles oil and gas royalty payments and monitors
lease compliance. The enhancement of revenue through marketing oil and gas royalty production
in kind is also under the direction of this division.
The Accounting division maintains the official oil and gas lease files, dating back to the first producing lease in 1923.
All new documents are digitized into our document management system. Our goal is to digitize all active leases documents and
make them available to our Website.
The Texas Education Code (Chapter 66) requires monthly reporting on all producing oil and gas leases.
Many oil and gas lease operators and payors who file reports monthly to University Lands must do so electronically.
More than 95% of oil and gas royalties and production on PUF lands is reported using electronic payment and reporting methods.
Increasing use of Electronic Data Interchange technology by the University Lands Office and oil and gas purchasers and operators
on PUF lands has reduced operator reporting errors by 86% and substantially improved data availability.
On September 1, 2001 the Accounting division deployed an online electronic accounts receivable function,
e-CARE (Electronic Customer Accounts Receivable), enabling customers to correct their accounts online as well as report electronically.
University Lands Accounting performs desk audits and reconciliations on oil and gas leases utilizing both statistical and
non-statistical sampling methods.
University Lands Accounting also works with the UT System Audit Office to select operators and
gas processing plants for company audits.
For specific information or assistance, contact
the University Lands Accounting staff.