The resurgence of oil and gas exploration in Oklahoma has turned out to be a surprising source of new revenue for the University of Oklahoma.
As Bloomberg News reported recently, the university has been the recipient of millions of dollars from mineral rights on land given to the school decades ago. Until recently, the mineral rights didn’t produce much. Now they are.
A lot of it is coming from the late OU alumnus Henry Mosier and his wife Ida Mosier. Initially, the land and mineral rights produced about $30,000 a year.
In 2014, it produced $2.35 million all because it’s located in Kingfisher county, one of the three main counties that make up the STACK, one of Oklahoma’s hottest oil and gas plays.