HomeMy WebLinkAboutContract 43045 CITY SECRETARY
CONTRACT NO. 4 3 o 45
MEMORANDUM OF OIL AND GAS LEASE
STATE OF TEXAS §
§ KNOW ALL MEN BY THESE PRESENTS:
COUNTY OF TARRANT §
BE IT REMEMBERED that on the 19—ty of /�,�( 2012, a Paid Up Oil and
Gas Lease was made and entered into by and between the CITY FORT WORTH, a home rule
municipal corporation of the State of Texas, 1000 Throckmorton Street, Fort Worth, Texas 76102,
hereinafter called"(LESSOR)"; and VANTAGE FORT WORTH ENERGY,LLC, 777 Main Street, Suite
790, 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—dy of '2012.
LESSOR: LESSEE:
CITY OF FORT WORTH VANTAGEFO T WORTH ENERGY,LLC
a De ited Liability Company
By: Fernando Costa By: C rry Osborne
Title: Assistant City Manager Its: Attorney in Fact
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APPROVED AS TO FORM AND LEGAL? y 0 -,a-
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By. NContract Authoriaa ioA
Assistant City ttorney
Date:
Date
OFFICIAL RECORD
CITY SECRETARY 02-21-12 P03:34 IN
FT. WORTH, TX
03-29-12 A10:3. IN
ACKNOWLEDGEMENTS
THE STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned, a Notary Public, on this day personally appeared Fernando Costa,
Assistant City Manager of the City of Fort Worth, a home-rule municipal corporation of the State of
Texas, known to me to be the person whose name is subscribed to the foregoing instrument and, that he
has executed the same for the purposes and consideration therein pressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day o 2012.
[SEAL
Notary Public in and for the
State of Texas =� ;.Z EVONI
:,. My c A DANIELS
'.:p Jtdy iOMMISQ 2013
EXPIRES
My Cmmission Expires:
Print Name of Notary Public Here
THE STATE OF TEXAS §
COUNTY OF TARRANT §
BEFORE ME, the undersigned, a Notary Public, on this day personally appeared C. Barry
Osborne, Attorney in Fact of Vantage Fort Worth Energy, LLC, a Delaware Limited Liability Company
of the State of Texas,known to me to be the person whose name is subscribed to the foregoing instrument
and,that he has executed the same for the purposes and consideration therein expressed.
GIVEN UNDER MY HAND AND SEAL OF OFFICE this day of , 2012.
[SEA1.4, °°°m°
Notary Public in and for th �� _ ROBERT A ROUX
S e of Texas NOTARY PUBLIC
STATE OF TEXAS
My Co 's ion E pares: MY COMM.EXP.5.18.2015
Print Name of Notary Publi
OFFICIAL RECORD
CITY SECRETARY
FT. WORTHI TX
s
EXHIBIT A
0.168 acres, more or less, out of the Wade H. Hudson Survey A-718, Tarrant County, Texas and being all
of Lot 16, Block 7, of the Rosedale Addition to the City of Fort Worth, Tarrant County, Texas.
(LOT 16,BLOCK 7,ROSEDALE ADDITION
M&C Review Page 1 of 2
Official site of the City of Fort Worth,Texas
CITY COUNCIL AGENDA FRTEi
COUNCIL ACTION: Approved As Amended on 11/17/2009 -Amendment is Highlighted in Yellow
DATE: 11/17/2009 REFERENCE NO.: L-14889 LOG NAME: 06ADMIN
LEASES
CODE: L TYPE: NON-CONSENT PUBLIC NO
NO
SUBJECT: Authorize Administrative Approval and Execution of Leases for Natural Gas Drilling Under
City-Owned Properties of Five Acres or Less in Size
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 five acres or less in size.
DISCUSSION:
On January 18, 2007, (M&C G-15588) Fort Worth City Council authorized the City Manager to
approve and execute leases for natural gas drilling under City-owned non-park properties that are two
acres or less in size.
From time to time, the City is asked to lease isolated City-owned properties in various locations that
are five acres or less. 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 staff and the City's mineral
asset management consultant, Midkiff Oil and Gas. The leases would be executed through an
internal administrative process involving the Planning and Development Department, the City
Attorney's Office and the City Manager's Office.
The purpose of this change is to allow staff to negotiate and expedite processing of small leases in
order to ensure that the City is not excluded from units due to the time necessary for City Council
review.
Requirements and guidelines to be followed in determining eligibility for inclusion in the Administrative
Gas Lease Process are as follows:
City-owned property five acres or less;
No surface use of any kind;
No identified adverse impact to the surrounding neighborhood;
Compliance with the City's gas drilling ordinance;
Minimum bonus to be determined by current market rate;
Minimum royalty of 25 percent;
The distribution of lease bonus and royalties will be in accordance with the revenue distribution
policy approved by the City Council; and
No M/WBE goal will be required due to the size of the parcels.
The lease will be presented to City Council for consideration prior to execution for any City owned
properties under five acres if opposition to conversion is expressed by citizens in the
affected neighborhood or a Council Member requests such consideration.
http://apps.cfwnet.org/council_packet/mc_review.asp?ID=12668&councildate=11/17/2009 9/14/2012
M&C Review Page 2 of 2
FISCAL INFORMATION/CERTIFICATION:
The Financial Management Services Director certifies that this action will have no material effect on
City funds.
TO Fund/Account/Centers FROM Fund/Account/Centers
Submitted for City Manager's Office by: Fernando Costa (6122)
Originating Department Head: Susan Alanis (8180)
Additional Information Contact: Jean Petr (8367)
ATTACHMENTS
http://apps.cfwnet.org/council_packet/mc review.asp?ID=12668&councildate=11/17/2009 9/14/2012