HomeMy WebLinkAboutRES 93-055 _ 9 3 - s's
RESOLUTION
WHEREAS,bids were received for a three (3)year oil, gas, and mineral
lease on three (3) parcels of real property owned by the City of Beaumont; and,
WHEREAS, Dan E. Orbeck, Jr. and NBB Oil & Gas Partners (U.S.A.)
c/o Duncan Energy Company submitted bids in the amounts as follows:
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Total Bonus Payments $ 5,299.25 $ 101.00
Annual Delay Rental $ 646.25 $ 10.00
Royalty Payments 23% 25.12%
Shut-in Gas Wells $ 70.00/Well $5.00/Well
Minimum Royalty Payment $ 25.00/Acre $ 10.00
WHEREAS, the City Council is of the opinion that the bids submitted
above are the best bids meeting specifications and should be accepted;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
That the bids submitted above for a three (3)year oil, gas, and mineral lease on three
(3) parcels of real property owned by the City of Beaumont in the amounts stated
above be accepted by the City of Beaumont and that the City Manager be and he is
hereby authorized to execute the contracts in substantial form and to assign the
contracts to the exploration companies.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 0 ., day
of arc-t-t- , 1993.
Mayor -
11.3,.S.S