Loading...
HomeMy WebLinkAboutContract 39534 RECORDED ELECTRONICALLY CITY SECRETARY ID: D209298337 CONTRACT NO. a95.'-�-q County: TARRANT Date: Nov 12, 2009 Time: 08:51 AM MEMORANDUM OF OIL AND GAS LEASE STATE OF TEXAS § § KNOW ALL MEN BY THESE PRESENTS: COUNTY OF TARRANT § BE IT REMEMBERED that on the day of d Cr"o 0 E(Z-, 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 XTO Energy Inc., 810 Houston Street, Fort Worth, Texas 76102, 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 the J_5 day of 0 CT0 B F(C-.2009. LESSOR: LESSEE: CITY OF FORT WORTH XTO ENERGY INC. 42: AA By: By: Title: Assistant City Manager Its: ATTEST: Contract Authorization City Secretary o�Q tog- ---Date APPROVED AS TO FORM AND LEGALITY: By �-- Assistant Ci! A orney Date: OFFICIAL RECORD CITY SECRETARY 1 FT.WORTH,TX ACKNOWLEDGEMENTS THE STATE OF TEXAS § § COUNTY OF TARRANT § BEFORE ME, �A In l a- la R(P_LS the undersigned notary public, on this day personally appeared F�j-nia flA6 �'2SfQ known to me to be the person whose name is subscribed to the foregoing instrument and, that (s)he has executed the same for the purposes and consideration therein expressed. rr '' GIVEN under my hand and seal of office this 1 day of OC-4,Q,e-6 2009. Notary Public, State of Texas My Commission Expires: EVONIA DANIELS Commission Number: My COMMISSION EXPIRES JUIy 10,2013 .,11E..•�p� Qi THE STATE OF TEXAS COUNTY OF TARRANT This instrument was acknowled ed before me this of�� i�L1Etr , 2009, by �LlL)J Il 5 I�i QC , W as ( UQ �'u�C( Ilti KI +C-1 i W) of XTO Energy Inc. on behalf of said corporation. - (�)(LLLI ' ` �.a Notary Public, State of Texas trfssriyvs�stissrsrxssrtfiirrtu»rsC r.. 1 My Commission Expires: cHARLA F.WILKE NOTARY PUBLIC STATE OF TEXAS Commission Number: *'. ,+* COMMISSION EXPIRES: OFFICIAL RECORD CITY SECRETARY l=T.WORTH,TX Exhibit A 6.874 acres, more or less, being a called 5.981 acres, situated in the Franklin Richards Survey, A-1297, Tarrant County, Texas, being Lot 1, Block 1, Guinn School Addition, an Addition to the City of Fort Worth, Tarrant County, Texas, according to the Plat thereof recorded in Volume A, Page 6788, Plat Records, Tarrant County, Texas. (Guinn School) N ICIAL RECORDY SECRETARYT.WORTH,TX 3 11aiLn1 of 2 City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 9/29/2009 DATE: Tuesday, September 29, 2009 REFERENCE NO.: L-14845 LOG NAME: 06GUINN SCHOOL 0062040 SUBJECT: Approve Acceptance of Lease Agreement with XTO Energy Inc., in the Amount of$17,185.00 for Natural Gas Drilling under 6.874 Acres of City-Owned Properties Known as Guinn School Located at 1150 South Freeway RECOMMENDATION: It is recommended that the City Council approve the acceptance of a lease agreement for natural gas drilling under 6.874 acres more or less of City-owned properties known as Guinn School to XTO Energy Inc., for a two-year primary term. DISCUSSION: A Request For Bid Proposals (RFP)for Guinn School was advertised for three consecutive weeks in the Fort Worth Star-Telegram, published on July 9, 2009, July 16, 2009 and July 23, 2009. The following sealed bid for the gas lease was received and opened on July 30, 2009. Bidder Lease Bonus/Acre Total Lease Bonus Percent Ro Ily Chesapeake Exploration, LLC $2,778.00 $19,096.72 25.00 Percent TO Energy, Inc. $2,500.0 $17,185.00 25.0 Percent! The bid received was evaluated by staff and the City's Mineral Management Consultant, Midkiff Oil and Gas. 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. Upon review of the drill plans submitted by the bidders, XTO has the closest drillsite that can access this tract and has most of the surrounding acreage leased. Therefore, it is recommended that award of this lease go to XTO Energy, Inc. Timely award and execution of this lease will allow for inclusion of these properties in the drilling unit currently being formed. In accordance with the City's Mineral Management Consulting Agreement, City Secretary Contract Number 37980, the net transfer to the City is estimated to be $16,411.68 more or less. The City has established a Minority Women Business Enterprise (M/WBE) participation goal of 3 percent on City-owned property of 40 acres or more without an investment goal. On leases of City-owned property of 700 acres or more, the City has established an option of either a 3 percent M/WBE goal or the inclusion of an M/WBE investor. This lease is less than 40 acres therefore no M/WBE participation goal is required. Revenues received from this lease will be deposited according to Council Resolution No. 3614-04-2008 adopted April 15, 2008 and M&C G-16617 approved April 22, 2008, which earmarks current and future unrestricted gas well revenues up to a total of$15,000,000.00 for street improvements in the http://apps.cfwnet.org/ecouncil/printmc.asp?id=12363&print true&DocType=Print 9/30/2009 ' Page 2 of 2 Transportation and Public Works Gas Well Revenue Fund—Unrestricted Revenues Unspecified Center. The property is located in COUNCIL DISTRICT 8, Mapsco 77K. FISCAL INFORMATION /CERTIFICATION: The Financial Management Services Director certifies that the Planning and Development Department is responsible for the collection and deposit of funds due the City. FUND CENTERS: TO Fund/Account/Centers FROM Fund/Account/Centers C223 446100 201929990200 $17.185.00 C223 531260 201929990200 $773.32 CERTIFICATIONS: Submitted for City Manager's Office by: Fernando Costa (6122) Originating Department Head: Susan Alanis (8180) Additional Information Contact: Jean Petr (8367) ATTACHMENTS 1. Accounting records M&C 06 GUINN SCHOOL 0062040.0 (CFW Intemal) 2. Exhibit 1.pdf (Public) http://apps.cfwnet.org/ecouncil/print nc.asp?id=12363&print=true&DocType=Print 9/30/2009 - M { i Ic 44j a. I m I . S' I " R `" ; _ • • - r7j y r 1 I f 1,47' I J "r F '�� kms'* T� Y7J '" •` 1 5 �• 1 { # _ 1 . d • Y✓ Al 1 , .fit _E Y �F ,� -ice.�y�� ...� � J�4 � S". '�- � • y ! _ 1 1 11 X11 � • "• • � •,