HomeSITLA to mark 20 years, $1 billion

SITLA to mark 20 years, $1 billion

This year, SITLA celebrates 20 years as an independent agency managing and developing Utah’s trust land assets. Since 1994, the agency has generated more than $1 billion for its 12 beneficiaries. SITLA’s contributions, combined with investment by the state treasurer, have grown the permanent funds of all beneficiaries to $1.73 billion, with public schools holding approximately $1.6 billion. Also in 2014, SITLA’s Oil and Gas Group marks 20 years of ConocoPhillips operations within the Drunkards Wash Unit of the West Price Ferron Block. Acquisition of additional land within this unit from the federal government, propelled oil and gas development into a position of providing stable, long-term revenues to the Permanent School Fund and other beneficiaries. In fact, of the $700 million in gross revenues derived from oil and gas by SITLA since 1994, $140 million of that total originated from this unit.

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