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Home My WebLink AboutContract 32095-A1 CITY SErRE7- C41VTRACT NCr AMENDMENT TO OIL AND GAS LEASE STATE OF TEXAS § COUNTIES OF TARRANT § Recitals i. Under date of July 5, 2005, CITY OF FORT WORTH ("Lessor"), whose mailing address is 1000 Throckmorton St., Ft. Worth, TX 76102, entered into an Oil and Gas Lease ("Lease"), with Chief Holdings LLC. A Memorandum of the Lease is recorded at D205228842, Official Records of Tarrant County, Texas. ii. The Lease is now owned by Quicksilver Resources Inc., whose address is 777 West Rosedale, Suite 300, Fort Worth, Texas 76104 (Quicksilver Resources Inc. is hereinafter referred to as "Lessee"). iii. Lessor and Lessee wish to clarify and amend the description of the lands covered in Exhibit A of the Lease. NOW, THEREFORE, for and in consideration of the sum of Ten Dollars and NO/100 ($10.00) and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Lessor and Lessee agree as follows: 1. The description of the lands set out in the Lease shall be deleted and replaced with the lands described in Exhibit "A" attached to this Amendment, and containing 53.4935 acres, more or less, located in Tarrant County, Texas. 2. Lessor and Lessee hereby does adopt, ratify, and confirm said Lease as to all of the terms and provisions therein, and Lessor does hereby lease, grant, demise, and let the interest of the undersigned in the land described in Exhibit "A" hereto, unto Lessee, its successors and assigns, subject to and in accordance with all of the terms and provisions of the said Lease, as amended, in its entirety. 4. The provisions hereof shall be binding upon the parties hereto, their respective heirs, legatees, devisees, personal representatives, successors and assigns. IN WITNESS WHEREOF, this Amendment is executed this Z day of , 2009, but effective for all purposes as of July 5, 2005. LESSOR: CITY OF FORT WORTH ATTEST: By: 7 7��;Z_�4 NN L-.,K j��o Y\ Fernando Costa Assisty- City Manager LESSEE: QUICKSILVER RESOURCES INC. APPROVED AS TO ECRM AND LEGALITY.- ��_ amu^w-- By: ASSIST T CITY ATTORNEY "ortrei t Authorizati _ . OICIAL RECORi� C�I; Date I A SECRETARN 02-10-09 A10 :28 I N'+�WORTH,TX. Amend to City Secretary Contract No 32095 ACKNOWLEDGMENTS STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on this /0 day of , 2009, by .e �+c�c— �� for the City f Fort Worth. L.— ' HETTIE LANE MY COMMISSIOy NEXPIRES Jul 26,2011 Notary Public, State of Texas STATE OF TEXAS § COUNTY OF TARRANT § This instrument was acknowledged before me on the . q+A- day of , 24P, by the /)per - n, , apt of Quicksilver Rejources Inc., a Delaware corporation. — — '�Iotary Pu lic, State of as Is MIMI ELAINE KEENOM My Commission Expires March 13,2013 OFFIG ALr RECORi! �INSIECRETARV a WORTH,T Amend to City Secretary Contract No 32095 EXHIBIT A 53.4935 acres, more or less, more particularly described as follows: Tract 1: 23.1579 acres, more or less, located in the C. R. HARMON SURVEY, A-737, Tarrant County, Texas, being 25.0809 acres described in Deed (Volume 9633, Page 1462) dated June 30, 1989, from Gary Dale Segraves and wife, Donna E. Segraves to the City of Fort Worth, less and except 1.923 acres, more or less, being the portion of 2.161 acres described in Deed (D203104007) dated January 30, 2003, from City of Fort Worth to City of Haslet that lies within such 25.0809 acre tract. Tract 2: 12.5 acres, more or less, located in the C. R. HARMON SURVEY, A-737, Tarrant County, Texas, being the same land described in Deed dated October 6, 1993, from Denton L. Sewell and wife, Gladys Sewell to the City of Fort Worth, recorded in Volume 11271, Page 2379, Official Public Records, Tarrant County, Texas. Tract 3: 4.3139 acres, more or less, located in the THOMAS WALDEN SURVEY, A-1921, Tarrant County, Texas, being the same land described in Deed dated November 7, 1989, from Sunbelt Savings, F.S.B. to the City of Fort Worth, recorded in Volume 9754, Page 860, Official Public Records, Tarrant County, Texas. Tract 4: 2.275 acres, more or less, located in the THOMAS WALDEN SURVEY, A-1921, Tarrant County, Texas, being the same land described in Deed dated April 17, 1989, from Gary Dale Segraves and wife, Donna E. Segraves to the City of Fort Worth, recorded in Volume 9569, Page 387, Official Public Records, Tarrant County, Texas. Tract 5: 7.064 acres, more or less, located in the THOMAS WALDEN SURVEY, A-1921, Tarrant County, Texas, being the same land described in Deed dated November 7, 1989, from Sunbelt Savings, F.S.B. to the City of Fort Worth, recorded in Volume 9754, Page 870, Official Public Records, Tarrant County, Texas. Tract 6: 2.3695 acres, more or less, located in the THOMAS WALDEN SURVEY, A-1921, Tarrant County, Texas, being the same land described in Deed dated November 7, 1989, from Sunbelt Savings, F.S.B. to the City of Fort Worth, recorded in Volume 9754, Page 847, Official Public Records, Tarrant County, Texas. Tract 7: 1.4648 acres, or less, located in the THOMAS WALDEN SURVEY, A-1921 and the C. R. HARMON SURVEY, A-737, Tarrant County, Texas, being 1.5148 acres described in Exhibits "A" and `B" in Dedication of Easement (Volume 9569, Page 1142) dated March 30, 1989, from Gary Dale Segraves to the City of Fort Worth, less and except .05 acres, more or less, being the portion of 2.161 acres described in Deed (D203104007) dated January 30, 2003, from City of Fort Worth to City of Haslet that lies within such 1.5148 acre tract. Tract 8: 0.3484 acres, or less, located in the C. R. HARMON SURVEY, A-737, Tarrant County, Texas, being 0.5364 acres described in Deed (Volume 9601, Page 2393) dated May 12, 1989, from Gary Dale Segraves and Donna E. Segraves to the City of Fort Worth, less and except .188 acres, more or less, being the portion of 2.161 acres described in Deed (D203104007) dated January 30, 2003, from City of Fort Worth to City of Haslet that lies within such 0.5364 acre tract. Amend to City Secretary Contract No 32095 City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 6/28/2005 DATE: Tuesday, June 28, 2005 LOG NAME: 30CHIEFHOLD REFERENCE NO.: **C-20815 SUBJECT: Approve Acceptance of Lease Agreement with Chief Holdings, L.L.C., for Natural Gas Drilling under City-Owned Properties Located South of Alliance Airport RECOMMENDATION: It is recommended that the City Council approve the acceptance of a lease agreement for natural gas drilling under City-owned properties located south of Alliance Airport, with Chief Holdings L.L.C., for one two-year term. DISCUSSION: On August 24, 2004, (M&C C-20233) the City Council authorized City staff to advertise a request for proposals from private companies to drill for natural gas under City-owned properties located south of Alliance Airport and further described in Exhibit "A" (See Attachment). The total available acreage is 53.4224 net mineral acres. A request for bid proposals (RFP) was advertised for three consecutive weeks in the Commercial Recorder, published on March 24, 31 and April 7 of 2005. The following sealed bid for the gas lease was received and opened on April 14, 2005. Bidder Lease Bonus/Acre Total Lease Bonus % Royalty Chief Holdings, L.L.C. $2,500.00 $133,556.00 25 The bid received was evaluated by staff and the City's mineral asset management consultant, JPMorgan Chase. In addition to the lease bonus rate and royalties paid to the City, the bidder's drilling plan, reputation, financial status, project team and compliance history were also evaluated. In accordance with the Alternative Assets Agency Account Agreement between JPMorgan Chase and the City (City Secretary Contract 29698), JPMorgan Chase will serve as the depository of the lease bonus revenue until the City requests wire transfer of the funds. It is anticipated that the lease bonus and royalty proceeds will be deposited into the City's Aviation Improvements Capital Projects fund and designated for general aviation improvements. The property is located in COUNCIL DISTRICT 2, Mapsco 7T, U, X, and Y. Logname: 30CEHEFHOLD Page 1 of 2 FISCAL INFORMATION/CERTIFICATION: The Finance Director certifies that the Engineering Department is responsible for the collection of funds due the City under this agreement TO Fund/Account/Centers FROM Fund/Account/Centers GC24 446100 013240439020 $0.00 Submitted for City Manager's Office b Marc Ott (8476) Originating Department Head: A. Douglas Rademaker (6157) Additional Information Contact: A. Douglas Rademaker (6157) Logname: 30CHIEFHOLD Page 2 of 2 Exhibit A SOUTH ALLIANCE AIRPORT CITY PROPERTIES 53.4224 acres Tract 1: 24.9 acres, more or less, part of the C.R. Harmon Survey, Abstract No. 737, Tarrant County, Texas, described as the West and East Tracts in a Warranty Deed dated June 30, 1989 from Gary Dale Segraves and wife, Donna E. Segraves to City of Fort Worth and recorded in Volume 9633, Page 1462 in the Official Public Records of Tarrant County, Texas. Tract 2: 12.5 acres, more or less, part of the C.R. Harmon Survey, Abstract No. 737, Tarrant County, Texas, described in a Warranty Deed dated October 6, 1993 from Denton L. Sewell and wife, Gladys Sewell to City of Fort Worth and recorded in Volume 11271, Page 2379 in the Official Public Records of Tarrant County, Texas. Tract 3: 4.3139 acres, more or less, part of the Thomas Walden Survey, Abstract No. 1921, Tarrant County, Texas, described in a Special Warranty Deed dated November 7, 1989 from Sunbelt Savings, F.S.B. to The City of Fort Worth and recorded in Volume 9754, Page 860 in the Official Public Records of Tarrant County, Texas. Tract 4: 2.2750 acres, more or less, part of the Thomas Walden Survey, Abstract No. 1921 and the C. Harmon Survey, Abstract No. 737, Tarrant County, Texas, described in a Warranty Deed dated April 17, 1989 from Gary Dale Segraves and wife, Donna E. Segraves to The City of Fort Worth and recorded in Volume 9569, Page 387 in the Official Public Records of Tarrant County, Texas. Tract 5: 7.0640 acres, more or less, part of the Thomas Walden Survey, Abstract No. 1921, Tarrant County, Texas, described in a Special Warranty Deed dated November 7, 1989 from Sunbelt Savings, F.S.B. to The City of Fort Worth and recorded in Volume 9754, Page 870 in the Official Public Records of Tarrant County, Texas. Tract 6: 2.3695 acres, more or less, part of the Thomas Walden Survey, Abstract No. 1921, Tarrant County, Texas, described in a Special Warranty Deed dated November 7, 1989 from Sunbelt Savings, F.S.B. to The City of Fort Worth and recorded in Volume 9754, Page 847 in the Official Public Records of Tarrant County, Texas.