HomeMy WebLinkAboutContract 38551 CONTRACT No' '
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MEMORANDUM OF OIL AND GAS LEASE
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF TARRANT §
BE IT REMEMBERED that on the _2,1_ day of fit'toa-t 1_ , 2009, a Paid Up
Oil and Gas Lease was made and entered into by and between the CITY OF FORT WORTH, a
home rule municipal corporation of the State of Texas, 1000 Throckmorton Street, Fort
Worth, Texas 76102, hereinafter called "(LESSOR)"; and DALE PROPERTY SERVICES,
L.L.C., 2100 Ross Avenue, Suite 1870, LB-9, Dallas, Texas 75201, hereinafter called
("LESSEE"), where LESSOR hereby grants, leases and lets exclusively to LESSEE for the
purpose of exploring for, developing, producing and marketing oil and gas, together with any
liquid or gaseous substances produced in association therewith, from the following described
land situated in Tarrant County, Texas,to-wit:
SEE EXHIBIT"A"ATTACHED HERETO AND MADE A PART HEREOF
Subject to the other provisions therein contained, said lease provides for a primary term
of two (2) years, from the date thereof, and as long thereafter as oil or gas or other substances
covered therein are produced in paying quantities from the leased premises or from lands pooled
therewith, or this lease is otherwise maintained in effect pursuant to the provisions therein.
An Executed copy of said Oil and Gas Lease is in the possession of LESSEE at its
address indicated above.
Executed this theal day of 1 L--, 2009.
LESSOR: LESSEE:
CITY OF FORT WORTH DALE PROPERTY SERVICES, L.L.C.
By: F_e_y-na^Ja 0osTA
Title: Assistant City Manager Its: WesWercl'
TTEST: C, Isa z��
Contract authorization
City Secretary
Date
APPROVED AS TO FORM AND LEGALITY:
B(
Assistant City ttorney
Date: -/7--v y
OFFICIAfj:y
CCiYSE
07 WO
05-08-09 A10:26 IN
1
ACKNOWLEDGEMENTS
THE STATE OF TEXAS §
COUNTY OF �r rg,i7 §
BEFORE ME, the undersigned notary public, on
this day personally appeared �h�n�o C'o�T , known to me to be the person whose
name is subscribed to the foregoing instrument and acknowledged that (s)he has executed the
same for the purposes and consideration therein expressed.
GIVEN under my hand and seal of office this day of /�f�
2009.
HFTIE'ANE —
Notary Public, State of Texas
My Commission Expires:
Commission Number:
STATE OF TEXAS §
COUNTY OF DALLAS §
BEFORE ME, ��� �� � the undersigned notary public, on
this day personally appeared Mi" 11Ac_.tA-F",(1-O , known to me to be the person whose
name is subscribed to the foregoing instrument and acknowledged that (s)he has executed the
same for the purposes and consideration therein expressed.
GIVEN under my hand and seal of office this 21 day of P&P-1 C-
,
2009.
Nota lic, State of Texa
My Commission Expires: —
Commission Number: """ RYAN REX BELLOMY
.. ...
Notary Public,state of Texas
My Commission Expires
August 17, 2011
2
EXHIBIT A
0.1721 acres of land, more or less, being all of Lot 6, Block 36, J.M. Moody Addition to the City
of Fort Worth, Tarrant County, Texas.
3
City of Fort Worth, Texas
Mayor and Council Communication
COUNCIL ACTION: Approved on 1/18/2007
DATE: Thursday, January 18, 2007 REFERENCE NO.: G-15588
LOG NAME: 30CITY LEASES
SUBJECT:
Authorize the Provision for Administrative Approval of Leases for Natural Gas Drilling under City-Owned
Properties of Two Acres or Less in SizeA
RECOMMENDATION:
It is recommended that the City Council authorize the City Manager to approve and execute leases for
natural gas drilling under City-owned properties that are two acres or less in size.
DISCUSSION:
On May 17, 2005, (M&C G-14798) Fort Worth City Council authorized City staff to advertise a request for
proposals from private companies to drill for natural gas under 3,651 estimated mineral acres of City-
owned properties.A A Most of these properties range from 3 to 800 acres or more in size.
From time to time, the City is asked to lease isolated City-owned properties in various locations that are
two acres or Iess.A A City staff is recommending that gas leases for these properties be administratively
approved for natural gas drilling leases after evaluation of the gas company's drilling plan, reputation,
financial status, project team, and compliance history by engineering staff and the City's mineral asset
management consultant, JPMorgan Chase.A A Staff will report the negotiated lease bonuses and royalty
to the City Council through the regular monthly gas lease report.A A The leases would be executed
through an internal administrative process involving the Engineering Department, the City Attorney's Office
and the City Manager's Office.
Requirements and guidelines to be followed in determining eligibility for inclusion in the Adminstrative Gas
Lease Process are as follows:
A A A A*A A A A City-owned property two acres or less that is not a City park
A A A A*A A A A No surface use of any kind
A A A A*A A A A No identified adverse impact to the surrounding neighborhood
A A A A*A A A A Compliance with the City's gas drilling ordinance
A A A A*A A A A Minimum bonus to be determined by current market rate
A A A A*A A A A Minimum royalty of 25 percent
A A A A*A A A A The distrubution of lease bonus and royalties will be in accordance with the revenue
A A A A A A A A A A distribution policy approved by the City Council
A A A A*A A A A No MWBE goal will be required due to the size of the parcels
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 and
royalty revenue until the City requests wire transfer of the funds.
Logname: 30CITY LEASES Page 1 of 2
FISCAL INFORMATION / CERTIFICATION:
The Finance Director certifies that this action will have no material effect on City funds.
FUND CENTERS:
TO Fund/Account/Centers FROM Fund/Account/Centers
CERTIFICATIONS:
Submitted for City Manager's Office by: Marc A. Ott (8476)
Originating Department Head: A. Douglas Rademaker (6157)
Additional Information Contact: Jean Petr (8367)
ATTACHMENTS
No attachments found.
Logname: 30CITY LEASES Page 2 of 2