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Big State Oil Lease Sale Boosts School Fund
The Austin Oil lease sale, one of the largest in state history, paid the Permanent School Fund $21.47 million, lifting the fund above $1.01 billion. About 292,886 acres were leased at an average $54.65 per acre, with new in kind royalty provisions promising higher future income amid stricter environmental safeguards.
MENTIONED IN THIS ARTICLE
The
Austin
Land Commission
Bob Armstrong
Armstrong
Parks and Wildfire Department
Reau
Padre Island
Mitchell, Pella and
Diamond
Trac i Matagorda County
Linward Shivers
University of Texas
Foc
San Antonio