Join The Discussion

 

Fort Worth's TPG takes controlling interest in Hollywood, sports powerhouse

A Fort Worth firm has gone Hollywood.

read more >

Downtown Fort Worth TIF reaches parking agreement with four garages

The TIF board will meet Oct. 29 to consider the agreements.

read more >

Oil price drop goes unnoticed in Texas' Eagle Ford shale

CUERO, Texas — From her vantage point of the U.S. shale oil boom, Jill Potts doesn't see anything to worry about.

read more >

Renovated Daniel-Meyer to put TCU basketball in the spotlight

You might say the Texas Christian University men’s basketball team was the sacrificial lamb in the university’s football-motivated move from the Mountain West Conference to the Big 12 Conference. The rising

read more >

E-Mist finds focus: Ebola gives infection control start-up its moment in spotlight

In the space of 72 hours, George Robertson found his company’s products on the cover of The New York Times and himself on CNN and WFAA, along with innumerable mentions in various media around the world.

read more >

Arlington approves Chesapeake gas royalty settlement
A. Lee Graham

Reporter

Chesapeake Exploration LLC will pay the city of Arlington “a substantial lump sum” to resolve its claims for prior royalty underpayments and improper cost deductions, according to a newly approved settlement agreement.

Agreeing to the arrangement was the Arlington City Council. By 8-0 vote at its Aug. 19 regular meeting, the council settled the ongoing dispute alleging that Chesapeake Exploration, a subsidiary of Oklahoma City-based Chesapeake Energy Corp.,  underpaid royalties for natural gas collected from beneath outdoor parks and other public property.

Included in the settlement is Total E&P USA Inc., the Houston-based arm of French energy firm Total S.A. that owns about 25 percent of Chesapeake’s Barnett Shale property.

“This settlement compensates the city for past underpayments, but also ensures that no post-production costs will be charged against the city’s royalties in the future,” reads a portion of the settlement. The document also said the agreement ensures certainty regarding how Chesapeake and Total E&P will calculate royalties in the future.

“The result protects the public interest by assuring that the original intent of the leases will be honored,” according to the settlement.

Representing the city in the lawsuit was Shayne Moses, David Palmer and Tim Howell of Moses Palmer & Howell LLP, a Fort Worth law firm.

lgraham@bizpress.net

 

< back

Email   email
hide
Ebola
How worried are you about Ebola spreading?