HomeMy WebLinkAboutContract 39450-A1NOTICE OF CONFIDENTIALITY RIGHTS: IF YOU ARE A NATURAL PERSON YOU MAY
REMOVE OR STRIKE ANY OF THE FOLLOWING INFORMATION FROM THIS INSTRUMENT
BEFORE IT IS FILED FOR RECORD IN THE PUBLIC RECORDS; YOUR SOCIAL, SECURITY
NUMBER OR YOUR DRIVER'S LICENSE NUMBER.
AMENDMENT TO OIL AND GAS LEASE
WHEREAS, City of Fort Worth ("Lessor") and Titan Operating, LLC ("Lessee") entered into that
certain Oil and Gas Lease dated October 19�', 2009, a Memorandum of Oil & Gas Lease of which is filed in
Document 4210009640, Official Public Records of Tarrant County, Texas (the "Lease"); and
WHEREAS, Lessor and Lessee desire to amend the Lease in the manner provided below.
NOW, THEREFORE, in consideration of the premises and other valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Lessor, and Lessee hereby amend the Lease, as follows:
Paragraph (7) Seven of the Lease is titled "Retained Acreage" and contains sub paragraph B
titled "Horizontal Wells". Lessor and Lessee agree to remove and replace sub paragraph (B)
titled "Horizontal Wells" of the Lease with the following:
B. Horizontal Wells
It is expressly understood and agreed that, subject to the other terms, provisions and
limitations contained in this Lease, Lessee shall have the right to drill "horizontal wells" under
the leased premises, or lands pooled therewith. The term "horizontal well" or "horizontally
drilled well" shall mean any well that is drilled with one or more horizontal drainholes having a
horizontal drainhole displacement of at least five hundred eighty-five (585) feet. For the
purposes of further defining the term "horizontal wells" and "horizontally drilled" reference is
made to the definitions contained within Statewide Rule 86, as promulgated by the Railroad
Commission of Texas, which definitions are incorporated herein for all purposes.
In the event of any partial termination of the Lease as provided in Paragraph 7A, then,
with regard to a well which is a horizontal well or a horizontally drilled well, Lessee shall be
entitled to retain all sands and horizons at all depths from the surface down to a depth which is
the stratigraphic equivalent of a depth of one hundred (100) feet below the base of the deepest
producing formation in such well which is capable of producing oil or gas in paying quantities,
but only in a spacing unit the area or number of acres of which are equal to the area or number
of acres determined by adding twenty (20) acres for each five -hundred thirty-six and six tenths
(536.6) feet horizontally drilled to the original forty (40) acres deemed to be a proration unit
for each vertical well. Each such tract around each horizontally drilled well shall be as nearly
in the shape of a square or a rectangle as is practical with the boundaries of the tract including
the entire horizontal drainhole and the lateral boundaries of such tract being approximately
equal distance from such drainhole and parallel thereto.
If production should thereafter cease as to acreage included in a proration unit or
pooled unit, this Lease will terminate as to such acreage unless Lessee commences reworking
or additional drilling operations on such acreage within ninety (90) days thereafter and
continues such reworking or additional drilling operations until commercial production is
restored thereon, provided that if more than ninety (90) days pass between the abandonment of
such well and the commencement of actual drilling operations for an additional well, or more
than ninety (90) days pass since the commencement of reworking operations without the
restoration of commercial production, the Lease shall terminate as to the applicable proration
unit.
At any time or times that this Lease terminates as to all or any portion of the acreage of
the leased premises, Lessee shall promptly execute and record in the office of the County Clerk
in the County where the leased premises are located, a proper release of such terminated
acreage and shall furnish executed counterparts of each such release to Lessor at the address
shown in Paragraph 19 hereof.
For the same consideration recited above, Lessor does hereby consent to, ratify, adopt and confirm all of
the terms and provisions of the Lease, as amended herein, and does hereby grant, lease, demise and let to
Lessee, its successors and assigns, the lands covered by the Lease, as amended herein, upon and subject to all of
the terms and provisions set out in the Lease, as amended. The undersigned hereby further declares that the
Lease, as amended, in all its terms and provisions, is and remains a valid and subsisting Oil and Gas Lease and
CITY SA
FT WORTH, TX 07-30-1 0 P03:59 IN P02 33 IN
declares that the Lease is binding upon the Lessor and Lessor's successors and assigns. Except as set forth
above, the remaining terms and provisions of the Lease shall remain in full force and effect.
EXECUTED this ffl day of , 2010.
LESSOR:
CITY OF FORT WORTH
By: Fernando Costa SS
Title: Assistant City Manager
APPROVED AS TO FORM AND LEGALITY:
'` l
Assistant City Attorney
Date: �5X
LESSEE:
TITAN OPERATING, LLC
Alz6zo::�5:o ) dS�=l
William B. Ford
Vice President, Land
STATE OF TEXAS
COUNTY OF TARRANT
ATTEST:
Secretary
ACKNOWLEDGMENTS
yk
BEFORE ME,iE � the undersigned, a Notary Public, on this day personally
appeared , 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.
GIVEN UNDER MY HAND AND SEAL OF OFFICE thisJ97� day of 2010.
rI(
�O;Y FLR'••�'.
I �*, �h%: EVONIA DANIELS
MY COMMISSIOIV EXPIPES
N tary Public, State of exas
o„w. Jalu Ty 2013
STATE OF TEXAS
COUNTY OF TARRANT
This instrument was acknowledged before me on the � 3 � da of
y , 2010, by
William B. Ford, Vice President of Land of Titan Operating, LLC, a Texas 1 ited 1 ability company, on behalf
of the limited liability company.
USA K. MORROW
My Commission Expires
Decembar 31, 2013
iblic, State of Texas