By OGJ editors
HOUSTON, Aug. 4 -- The Dallas-Fort Worth International Airport board Aug. 3 approved a lease to Chesapeake Energy Corp., Oklahoma City, for the exploration of natural gas in the Barnett shale under the airport's 18,000 acres.
Chesapeake agreed to pay the airport an initial bonus of $181 million plus a royalty of 25% on all gas produced. The lease has yet to be approved by the city councils of Dallas and Fort Worth.
DFW airport officials worked with the Federal Aviation Authority to determine safety and security requirements for exploration and drilling. Most of DFW's 18,000 acres are available for exploration, and more than 9,000 acres are available for surface drilling.
All drilling activities require permits from DFW and must be approved by the FAA. The drilling will have no impact on airfield operations, DFW International officials said.