Santa Rita No. 1

This is an image of the transposed well infrastructure of Santa Rita No. 1, which, in 1923, marked the discovery of oil and gas assets on University Lands. The royalties gained from oil and gas leases not only helped develop UT Austin's campus. They were also a significant tool for Austin's general economic development. The City of Austin partnered with the state and with the local, flagship campus of the University of Texas to develop strategic research centers and infrastructures that would help lure high-tech industry to Austin, a strategy for diversifying and protecting the Texas economy from the volatilities of oil and gas markets.