Tucked into the history of the Santa Rita No. 1, the famed 1923 Texas well that first tapped the bounty of Permian crude, is a $516.23 royalty payment.

On Aug. 24, 1923, the Permanent University Fund, which benefits Texas higher education, received its first oil royalty payment from the Santa Rita, an arrangement that continued until the well was plugged in 1990.

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