Latest posts on category "Lease Sale"
University Lands is pleased to announce we are accepting nominations for a possible Lease Sale (Date pending The Board for Lease of University Lands’ approval). We have a new application and process for nominating tracts; please follow the attached instructions. A link to the site is listed in the attachment. Nominations must be received no later than Midnight, Thursday, June 15, 2023. All nominations are kept confidential. For additional information email LeaseSale@utsystem.edu.
University Lands held its 129th mineral lease sale online with EnergyNet.com on September 19, 2018, which resulted in ~25,000 acres of Permanent University Fund (PUF) land being leased for a total of $24,000,000 in lease bonus revenue.
MIDLAND, Texas — University Lands, the entity charged with managing 2 million acres of land in West Texas for the benefit of the Permanent University Fund, completed a lease sale process Wednesday that generated $118 million in total revenue.
Approximately 43,724 acres were leased through the sale process, with some acres going for more than $12,000 per acre. The average per acre lease price was $2,700 per acre.
“We are very pleased with the results of today’s sale, which will move the ball forward significantly to ensure continued development of these assets,” said Mark Houser, CEO of University Lands. “Bringing in this level of revenue to support higher education and health care across Texas is an honor.”