Oil and gas exploration from West Texas’ Permanent School Fund lands is currently earning school kids in Texas more than ever this year.
According to the Texas General Land Office, last month private oil and gas firms paid $9.3 million for the right to explore on land owned by the state’s fund, which was set up to assist in paying Texas state government’s share of K-12 education.
The companies bid for exploration rights on 6,971 acres. Last month’s quarterly lease sale resulted in a record year with a total of $133.5 million. For this and other news regarding lease sales visit the General Land Office’s website.
For a detailed look at today’s record Permanent School Fund oil and gas lease sale, visit http://www.glo.texas.gov/what-we-do/energy-and-minerals/oil_gas/sealed-bid-sales/past/index.html.
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