x
Breaking News
More () »

Midland College considering on campus drill site

The project could be worth millions in mineral royalty revenue for MC, City of Midland, and homeowners

MIDLAND, Texas — On May 21, during a Midland College board meeting, Midland-Petro presented a multi-million dollar idea to the school's President and board of trustees.

The petition: Midland College issue a Request for Proposal (RFP) for an Oil and Gas Lease of Midland College's mineral interest. 

This lease request also includes an 11-12 acre drill site on the northeastern section of the campus where it borders the Midland Air Park.

Credit: Midland-Petro
Rendering of possible Midland College drill site

Royalty estimates distributed to the college, a couple of public entities, as well as some lucky homeowner range in the millions of dollars.

Estimates for the 50-year lease of the horizontal drilling project stand at a minimum of $20M for Midland College, $155 M for the city and around $300M split between homeowners and businesses.

Although, Midland College President Dr. Steve Thomas says that large revenue numbers aren't the only thing the board considers in a project of this magnitude.

"Their primary interest as a board is what is in the best interest of Midland College from both a revenue standpoint and from a land usage standpoint," said Thomas.

Thomas says with the city's economic trend and expected population growth the college will need to make sure any potential plans do not impede future expansion.

"It's really difficult to project 5,10 years from now the way this community is changing so rapidly, so our board is going to have to be very thoughtful and very deliberate about what's in the best interest of serving our students and our community as a college," said Thomas.

Midland-Petro has also discussed a possible sign on bonus for the college and with its off-site wells providing the entire campus with irrigation water.

Their plan also includes building berms and sound walls at a combined height of 25 feet with separate entry routes for trucks and staff in order to not interfere with campus parking or traffic.

Dr. Thomas notes this proposal is far from a done deal and will require several rounds of debate, discussion, and possible planning among Midland College Board Members and Midland-Petro representatives.

"We don't want to sacrifice what we've had for the 46 years here as a beautiful campus and great asset for this community for the short term of additional revenue coming off a mineral lease," said Dr. Thomas.

The Midland College Board of trustees is expected to discuss the proposal further in their next Executive Session on June 18.

Before You Leave, Check This Out