DFW Airport approves Chesapeake's Barnett shale lease

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.

Related Articles

People

08/13/2014

American Energy Partners LP has hired Jeffrey L. Mobley to serve as senior vice-president, major acquisitions.

Chesapeake, RKI E&P agree on Powder River acreage exchange

07/29/2014 Chesapeake Energy Corp. and RKI Exploration & Production LLC (RKI), both of Oklahoma City, have agreed to exchange nonoperated interests in 440...

Chesapeake to spinoff oil field services unit, divest $4 billion in assets

05/16/2014 Chesapeake Energy Corp., Oklahoma City, has decided to proceed with spinning off its oil field services business, currently conducted through its w...

Chesapeake mulls spinoff, sale of oil field services division

02/24/2014 Chesapeake Energy Corp. reported it is considering a potential spin-off to Chesapeake shareholders or an outright sale of Chesapeake Oilfield Servi...

Careers at TOTAL

Careers at TOTAL - Videos

More than 600 job openings are now online, watch videos and learn more!

 

Click Here to Watch

Other Oil & Gas Industry Jobs

Search More Job Listings >>
Stay Connected