OTHERAPPROVED

Midland College Board of Trustees Meeting Agenda March 2026

$35 Million Surface Use & Oil/Gas Lease to Midland-Petro D.C. Partners

$15,000,000 within 30 days of execution, plus $20,000,000 upon commencement or 270 days after execution, plus one-time easement fees of $100,000 per qualifying wellMidland CollegeMIDLAND-PETRO D.C. PARTNERS LLCMarch 2, 2026

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Description

Midland College District authorized a major Surface Use Agreement and Oil and Gas Lease with Midland-Petro D.C. Partners, LLC for campus oil and gas development in return for $35 million in fixed payments, easement fees, and infrastructure improvements. The agreement runs from January 6, 2024 until all oil and gas operations cease and restoration is complete.

Contract Details

Contract Amount

$15,000,000 within 30 days of execution, plus $20,000,000 upon commencement or 270 days after execution, plus one-time easement fees of $100,000 per qualifying well

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 – through the life of oil and gas operations, expiring when all wells plugged and site restored per agreement

Renewal Info

Term extends until all oil and gas wells are plugged and site is restored. Renewals/extensions dependent on continued oil/gas production. Amendments by written agreement only between parties. Obligations regarding restoration, indemnification, and insurance survive termination.

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