University Lands presented one of its recent Permian Basin case studies at the 2019 Unconventional Resources Technology Conference (URTeC) held in Denver, CO this past week. Led by Senior Engineering Advisor Hongjie Xiong, the team illustrated the case for maximizing reservoir development with optimal full field development plans (FDPs). Utilizing optimal well spacing and corresponding well completion design, the study shows that there is a sweet spot that will allow operators to realize significant increased value in recovered resources.
University Lands’ Senior Engineering Advisor Hongjie Xiong on Thursday presented an SPE case study on well completion optimization at Marathon Oil’s Reservoir Engineering Forum. UL’s engineering team recently completed the seven- well case study using the latest complex fracture modeling and reservoir simulation technologies. The application of these technologies could potentially help operators save significant time and money on well completion and space piloting projects, thus speeding up field development decisions.
Industry leaders came together on Thursday, June 13 for University Lands’ 4th annual Partner Forum. Held at the stunning Wagner Noel Performing Arts Center in Midland, over 120 attendees representing 40 active operators on PUF Lands were updated on a broad range of University Lands priorities from full-field resource development to full-cycle water management.
UL has launched a new cost-sharing initiative to encourage oil and gas operators to implement measurable emission reduction programs on its lands.
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.
The University Lands Board for Lease Meeting will be webcast Monday, July 30th 2018 at 2:00pm CDT. This meeting can be viewed live or after from the following link. Monday, July 30, 2018 Webcast Link
University Lands held its 3rd annual Partner Forum on Wednesday, April 25th at the DoubleTree Hotel in Midland. Representatives from ~40 operating companies that work on PUF Lands attended the full-day event. Topics included updates from University Lands leadership; operator presentations from Elevation Resources, Oxy, Pacesetter, Shell, and Hunt Oil; lunch with IHS Markit; as well as a featured presentation from The Environmental Partnership. The day ended with a special appearance from Texas Land Commissioner, George P. Bush.
Click "continue" below to access the materials from the day:
University Lands is inviting qualified companies to submit their design, construction, operation, maintenance, and eventual decommissioning of water-related infrastructure on Permanent University Fund (PUF) lands. Please refer to the attachment for proposal details.
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.”
The Perryman Group estimates that on average almost 7,400 persons are at work on PUF Lands when viewed on a full-time equivalent basis, with a much higher number (often 20,000 or more) spending a portion of their workdays on the PUF Lands...