SB 1157 mandates that oil and gas leases on land owned by the Permanent University Fund (PUF) include provisions to eliminate routine methane flaring and venting by 2029. It requires operators to submit plans for reducing flaring and venting and to comply with EPA methane emission standards. The bill also directs The University of Texas Bureau of Economic Geology to assist in developing and reviewing these plans. Additionally, it modifies the Texas Natural Resources Code to limit flaring exceptions on university-owned land, only allowing it under strict conditions where pipeline connections are not feasible​.