OTHERAPPROVED

Midland College Board of Trustees Meeting Agenda March 2026

Surface Use & Oil/Gas Lease Approved with Midland-Petro D.C. Partners

$15,000,000 (initial payment) plus $20,000,000 (second payment); additional $100,000 per horizontal well with a take point outside Chaparral UnitMidland CollegeMIDLAND-PETRO D.C. PARTNERS LLCMarch 2, 2026

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Description

Midland College Board of Trustees authorized a major Surface Use Agreement and Oil and Gas Lease with Midland-Petro D.C. Partners, LLC for operations on college property. Compensation includes $35 million in payments to the college, plus fees for future wells. Agreement also includes obligations for fencing, landscaping, and infrastructure improvements.

Contract Details

Contract Amount

$15,000,000 (initial payment) plus $20,000,000 (second payment); additional $100,000 per horizontal well with a take point outside Chaparral Unit

Vendor

MIDLAND-PETRO D.C. PARTNERS LLC

Agency

Midland College, TX

Contract Type

OTHER

Document Date

March 2, 2026

Contract Term

Effective January 6, 2024; until all wells plugged and abandoned and premises restored

Renewal Info

Term persists until cessation of all oil and gas activities, plugging and abandonment, and restoration. Additional fees may accrue with each new qualifying well; modifications require formal amendment by both parties.

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