Galen Scott
gscott@weatherforddemocrat.com
The DFW International Airport Board of Directors Thursday unanimously approved a lease with Oklahoma City-based Chesapeake Energy Corporation to begin natural gas exploration below the Airport’s 18,000 acres.
Chesapeake will pay DFW $181 million in initial bonus and a royalty of 25 percent on all gas produced after the lease is approved by the Dallas and Fort Worth City Councils.
Per federal aviation requirements, airports generally need a lot of open space to protect the safety of people both in the air and on the ground. Much of that undeveloped acreage is batting an eye at energy companies eager to develop the gas-rich Barnett Shale.
Jeff Fegan, CEO of DFW International Airport, called the DFW deal possibly one of the largest single lease opportunities remaining in the Barnett.
“The drilling will create jobs and business opportunities for a number of local firms and the revenue will keep costs down for the airlines that operate here, making our airport even more attractive to new airline competition,” he said.
In addition to DFW Airport, several dozen wells were reportedly drilled under Fort Worth’s two other airports, Alliance and Meacham. Airports in Oklahoma City and Tulsa are also drilling for oil and Denver International Airport has reportedly brought in about $1.7 million a year since drilling began on its 33,000 acres ten years ago.
Mineral Wells Airport is owned by the City of Mineral Wells but lies mostly within the boundaries of Parker County. The airport had its minerals leased more than 20 years ago, according to airport manager Bobby Bateman.
He said two or three producing wells have already been drilled on the airport’s land, which totals about 500 acres.
In addition, Brian Engel, a public affairs manager for Devon Energy, confirmed the acquisition of a drilling lease on acreage owned by the Parker County Airport along Interstate 20 outside Hudson Oaks. He said the company plans to drill toward the end of the year.
As drilling rigs go up at DFW, known as the third largest airport in the country, derricks and drilling pads will become part of the scenery as passenger airlines prepare to land and first-time visitors get their first taste of Texas.
Around 250 potential drill sites to be developed from approximately 20 well pad sites on DFW land have been identified, according to a Chesapeake news release.
Bateman suggested passengers unfamiliar with drilling rigs may not recognize the towering structures at night, but probably could during the day.
“I’m sure that most people would relate that right to the TV show Dallas,” he said.
Almost all of DFW’s 18,000 acres are available for exploration, and more than 9,000 acres are available for surface drilling. DFW updated its construction and fire prevention standards and added a chapter to specifically address oil and gas exploration and production. All drilling activities require permits from DFW, which must be approved by the FAA, and drilling is not expected to impact airfield operations.
Because of Federal Aviation Administration height restrictions, Bateman said the drilling rigs at DFW would probably be, “a pretty good ways off from the runways.”
Including an estimated $750 million of capital needed to fully develop approximately 470 billion cubic feet of unproved natural gas reserves, Chesapeake’s all-in acquisition cost to develop the DFW leasehold is estimated at $1.98 per thousand cubic feet of natural gas.
Local News
August 8, 2006
DFW Airport approves drilling lease with Chesapeake
Other airports taking advantage of dual-purpose property
- Local News
-
-
Photos tell history of Weatherford
Weatherford is a town rich in tradition and history, and it was that history that motivated local researchers Jonelle Bartoli and Brenda McClurkin to document it through their new book, "Images of America: Weatherford, The Early Years."
The more than 100-page book details the lifestyles and changes for Weatherford through photographs and tidbits of information, dating back to the mid-1880s. - Court reviews departments' capital needs
- Controversy caused by judge's campaign material
- Former Willow Park employee claims firing unfair
-
Sheriff, judge at odds over mailer
Parker County Sheriff Larry Fowler sent out a statement and automatic phone calls across the county Wednesday saying he did not endorse incumbent 43rd District Judge candidate Trey Loftin, following a mailer sent by the judge’s campaign that included a quote from Fowler.
However, Loftin said Thursday Fowler made the referenced statement to a room full of people at a fundraiser for Loftin and agreed to let Loftin’s campaign quote the sheriff. - Film director looking for local actors
-
Book Smart
- Pastors: bring prayer back
- Weatherford council approves rezoning requests
- City won’t accept recall petitions
- More Local News Headlines
-
Beryl Makes Landfall on Florida Coast
UN Blames Syrian Forces for Shelling Houla
Raw Video: Gay Protest Blocked in Moscow
Vatican in Chaos After Butler Arrested for Leaks
Jimmy Carter Endorses Egypt's Election Results
Biden Addresses West Point Graduating Class
Dozens of Children Killed in New Syria Attack
Raw Video: Activists Allege Massacre in Syria
NJ Man Charged With Murder in Death of Patz
Support, Fun for Kids of Fallen Soldiers at Camp
Fugitive Penguin Caught, Returned to Aquarium
50 Years Later, Underground Fire Still Burning
Light Show Transforms Sydney Opera House
Raw Video: Unruly Passenger Restrained in Miami
Raw Video: Robber Uses Drive-thru Window
Raw Video: Dragon Arrives at Space Station
Calif.'s Coronado Named Nation's Best Beach
CEO Salaries Become Sore Issue in Labor Disputes
