Production Reporting and Royalties
Production & Royalties
The lessee is responsible for reporting production and paying royalties or causing
royalties to be paid by the due date. Oil reports and payments are due on the 5th
day of the second month following production. Gas reports and payments are due on
the 15th day of the second month following production. Royalty payments may be reported
and paid electronically. See the
Reporting Manual for detailed preparation instructions. Mailing address
is University Lands Accounting, P.O. Box 553, Midland,
Texas, 79702-0553.
- Oil and Condensate Report - UT-1 [ Excel |
PDF ]
- Adjustment Report for Oil and Condensate - UT-1A [
Excel | PDF ]
- Gas Report - UT-2 [ Excel |
PDF ]
- Gas Adjustment Report - UT-2A [ Excel | PDF ]
- Royalty Payment Summary - UT-3 [ Excel |
PDF ]
Contact: Scott Mims at ude.metsystu@smims
* Please note that copies of all forms submitted to the Texas Railroad Commission
for University leases must also be sent to University Lands Oil, Gas and Mineral
Interests, Midland.
Minimum Royalty
Minimum royalty is the amount of oil, gas, and shut-in royalties sufficient to maintain
the UT lease in force and effect. Lessees are responsible for paying, or causing
to be paid, the difference between the rental stated in the lease and total amount
of royalties received by University Lands Accounting in the immediately preceding
lease year. No additional amount is due if royalties equal or exceed the rental
amount. Late payments are subject to penalty. For leases issued after May 16, 2001,
minimum royalty is due one year after the expiration of the primary term and each
year thereafter.
Contact: Cindy Brooks at ude.metsystu@skoorbc
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Shut-in Royalty
UT leases may be extended and maintained by payment of shut-in royalty and the completion
of a shut-in certificate. The number of shut-in periods available varies from lease
to lease; refer to the UT lease agreement for specifics. The shut-in royalty fee
as adopted by the Board for Lease of University Lands on May 19, 1998 is $1,200.00
per UT lease. Payment of shut-in royalty after the expiration or other termination
of the UT lease will not revive or extend the UT lease.
Contact: James Holtzclaw at ude.metsystu@walcztlohj
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