University Lands Breaks Records With Oil And Gas Lease Sale
By: Mycah Glover
Updated: March 30, 2011
MIDLAND -- Wednesday was a big day for University Lands as they held their first oil and gas lease sale of the year.
The sale is held twice a year. It gives local oil companies a chance to come out and bid on the land where they'd like to drill.
University Lands' last sale -- which brought in $206 million for university lands -- broke all previous records. We're told today's sale shattered that record, bringing in more than $249 million.
The sale is held twice a year. It gives local oil companies a chance to come out and bid on the land where they'd like to drill.
University Lands' last sale -- which brought in $206 million for university lands -- broke all previous records. We're told today's sale shattered that record, bringing in more than $249 million.
