Title
Resolution - A Resolution to Assign that Certain Gas Lease By and Between Carrizo Oil & Gas, Inc. and the Mansfield Park Facilities Development Corporation (MPFDC) to ARP Barnett, LLC and Atlas Resource Partners, L.P. for MPFDC-owned property described as 1524 Moody Lane, 204 Alvarado Street, and 665 W. Broad Street
Requested Action
Consider approving resolution
Recommendation
Approve resolution
Description/History
The MPFDC and City Council approved by resolution in March 2007 to lease minerals to Carrizo Oil & Gas, Inc. on MPFDC-owned properties located at 1524 Moody Lane, 204 Alvarado Street, and 665 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 MPFDC by letter that Carrizo will assign their mineral interest in the properties referenced above to Atlas Resource Partners, L.P. The MPFDC approved the Consent to Assign at their April 19th meeting.
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