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TCU rises 20 places on influential U.S. News & World Report ranking

St. John's College in Annapolis, Md., has long disdained the rankings game. The liberal arts school, which focuses on the great works of Western civilization, was known for not responding to requests from U.S. News & World Report for information that the magazine uses to sort the nation's colleges.

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Fort Worth-based Woodmont plans $80M Hard Rock Hotel retail center

Woodmont Outlets of Fort Worth, an affiliate of The Woodmont Co., has partnered with Cherokee Nation Businesses for a proposed upscale retail development at Hard Rock Hotel & Casino Tulsa.

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Barnett still packs economic punch, study finds

Despite reduced drilling and unstable gas prices, Fort Worth continues reaping the rewards of the Barnett Shale, according to a newly released study by The Perryman Group.7

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Time to make more Do-Nuts in DFW

Shipley Do-Nuts has signed a development agreement with Adkins Development Corp. to accelerate expansion in the Dallas-Fort Worth market.

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Leo's Foods to shutter Fort Worth plant, lay off 84

In a filing with the Texas Workforce Commission, Leo’s Foods will begin terminating employees over a 14 day period beginning Oct. 10.

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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

 

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