Title
Resolution - A Resolution to Consider Request by Carrizo Oil & Gas, Inc. to Assign that Certain Gas Lease by and Between Carrizo Oil & Gas, Inc. and the City of Mansfield to ARP Barnett, LLC and Atlas Resource Partners, L.P. for City-owned property described as: 105 Walnut Street, 206 S. First Avenue, 602 Elizabeth Lane, 940 W. Broad Street, 103 S. First Avenue, 526 Patterson Drive, 740 W. Kimball Street, and 799 W. Broad Street
Requested Action
Consider approving resolution
Recommendation
Approve resolution
Description/History
The City Council approved by resolution in October 2006 to lease minerals to Carrizo Oil & Gas, Inc. on City-owned properties located at 105 Walnut Street, 206 S. First Avenue, 602 Elizabeth Lane, 940 W. Broad Street, 103 S. First Avenue, 526 Patterson Drive, 740 W. Kimball Street, and 799 W. Broad Street. The lease required the drilling operator (Carrizo) to receive consent from the mineral owner if the operator assigns any of the operator's mineral interests.
Carrizo has notified the City by letter that Carrizo will assign their mineral interest in the properties referenced above to Atlas Resource Partners, L.P.
Justification
As required by lease, Carrizo is requesting consent to assign its interest in the lease to Atlas and that such consent not be unreasonably withheld.
Funding Source
N/A
Prepared By
Shelly Lanners, Director, Community Services
817-276-4265