Midland College Board Unanimously Approves to Extend an Offer for an Oil & Gas Lease and Surface Use AgreementMarch 02, 2026

Today, after months of negotiations, the Midland College Board of Trustees unanimously voted (8-0) to approve the extension of an offer for an oil & gas lease and surface use agreement to Midland-Petro and Permian Deep Rock to utilize acreage of the college-owned property for responsible oil development.

If the offer is accepted by Midland-Petro and Permian Deep Rock and an agreement is made, the City of Midland could receive up to $200 million, strengthening the local economy and reinforcing Midland’s position as a leader in energy innovation and responsible development.

"This offer," said Mike Oestmann, Midland College Board Trustee, "required careful consideration of land use restrictions, student safety, and long-term implications for Midland College's ability to serve the community, which is, ultimately, our reason for existing."

Board Chairman Steve Kiser stated, "We believe this offer is fair and reasonable and is in the best interest of the community, the college, and its students."

Midland-Petro and Permian Deep Rock emphasized their pride in this potential deal with a respected community institution, highlighting mutual trust, responsible stewardship, and a shared commitment to Midland’s future. “We are proud to be part of this community and that Midland College is going to trust us to develop their minerals,” stated David H. Arrington of Midland-Petro and Permian Deep Rock.

Dr. Damon Kennedy, Midland College President, stated: "Since 1972, Midland  College has been committed to serving our community, expanding opportunities for students, and contributing to the region's economic strength. I appreciate our trustees carefully evaluating every option with our students' success and the community's future as the priority. We are ready to continue moving forward with the important business of the college.”