Going Green

Saturday, July 26, 2008

Texas PUF to Benefit From Oil Land Deal

The old boys that sat down and wrote the Texas Constitution back in 1876 certainly created a blessing for the future college students of the state. They probably had no idea what they set in motion -- but they did a good thing.

UT banking on profit from oil land dealsUp to $1 billion possible to beef up its endowment

Copyright 2008 Houston Chronicle Austin Bureau

AUSTIN — The University of Texas System is looking to trade on high oil prices — and potentially raise up to $1 billion for its endowment — by selling future production from land it manages in West Texas.

The regents this week authorized UT officials to negotiate with one or more parties to sell a portion of its oil and gas production at a fixed price over a set time period.

The buyer would pay up front for...(complete article here).

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