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DALLAS-The DFW International Airport Board has awarded gasdrilling rights for its 18,000 acres to Oklahoma City-basedChesapeake Energy Corp., delivering a deal with $181 million ofupfront cash and a 25% royalty on gas production from itsfields.
The nation's second-largest independent producer, winning aunanimous nod, was one of three proposals under consideration forthe historic pact. The lease, approved at yesterday's boardmeeting, now passes to Dallas and Fort Worth city councils forfinal approvals. The board's action creates the airport'sthird-largest revenue generator, trailing landing fees and parkingincomes, if the wells live up to their projected yield.
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