UNIVERSITY LANDS PUTS REVENUE TO USE FOR TEXANS'BENEFIT

摘要

The year was 1923,when Warner Brothers launched its film studio and the first baseball was pitched at Yankee Stadium.Halfway across the country,one of the first commercial oil discoveries in the Permian Basin took place on Permanent University Fund (PUF) lands at the Santa Rita No.1 well.These oil-rich lands have since proven to be a tremendous gift to the state of Texas,West Texas communities,and the 350,000 students of the states two largest university systems,the University of Texas and Texas A&M.The story began in 1839 when the congress of the Republic of Texas set aside land to establish and endow what it hoped would become a world-class university.Today,University Lands manages surface and mineral interests on more than 2.1 million acres in 19 counties,to the benefit of the PUF endowment,now the country's largest public university endowment,valued at $22 billion.More than 250 companies operate the 9,000 producing wells across University Lands'4,000 oil and gas leases.Some of the larger producers include Royal Dutch Shell PLC,Sequitur Energy Resources LLC,Diamond-back Energy,and Pioneer Natural Resources Co.