University Lands (UL) leases its acreage to companies for oil and gas development and retains a royalty interest in any production.

All paperwork and other materials related to leases for oil and gas development can be found under Forms, Policies & Procedures.

All oil and gas operations on UL acreage, as well as drilling and completion reporting, should be conducted as outlined in the University Lands Oil & Gas Leases Required Reporting & Compliance Procedures. A more detailed description can be found within, but, in summary, as the land and mineral owner, UL is entitled to all information pertinent to drilling and completions, including daily drilling, completion and operational reports; mud-logs; information related to core or drill stem tests; electric logs; flow-back test results; directional surveys; wellbore schematics; seismic; perforation information; etc. All information should be submitted to the email addresses as noted on the University Lands Oil & Gas Leases Required Reporting & Compliance Procedures document.

All UL leases are approved by the UT System Board of Regents or the Board for Lease of University Lands, which oversees lease sales, approves leases and sets rules around the leasing process. The current UL Lease form is Lease Form 50.

Damage rates for oil and gas-related surface activities are updated regularly and published in the University Lands Rate & Damage Schedule.