HomeMy WebLinkAboutRES 11-288 RESOLUTION NO. 11-288
WHEREAS, the City of Beaumont entered into an amended lease with Cimarex
Energy Company, of Tulsa, Oklahoma, executed July 28, 2010 for 275.44 acres of land
in the A. Savery League, and,
WHEREAS, Ballard Exploration Company, Inc., of Houston, Texas, is preparing to
drill the Garden Villas No. 1 well; and,
WHEREAS, Ballard Exploration intends to form a pooled gas unit of approximately
265.1489 acres which includes 38.4914 acres out of the City of Beaumont lease with
Cimarex; and,
WHEREAS, a Letter Agreement with Cimarex Energy Company was signed on
September 16, 2011 by the City Manager to allow for the 38.4914 acres to be included in
the unit; and,
WHEREAS, City Council ratification of the Letter Agreement will remain in effectfor
a period of one year; provided that a unit formed in accordance with the agreement will
remain in effect for as long as production or operations maintain rights in accordance with
the lease;
WHEREAS, the Letter Agreement needed to be executed in order for the City of
Beaumont to participate in the well;
NOW, THEREFORE, BE IT RESOLVED BY THE
CITY COUNCIL OF THE CITY OF BEAUMONT:
THAT the statements and findings set out in the preamble to this resolution are hereby, in
all things, approved and adopted; and
THAT the Pooling Letter Agreement with Cimarex Energy Company executed on
September 16, 2011 is hereby ratified.
PASSED BY THE CITY COUNCIL of the City of Beaumont this the 4th day of
October, 2011.
- yor Becky Ames -