From
Don Postell
Title
Resolution of City of Grand Prairie v. Chesapeake Energy
Presenter
Don Postell, City Attorney
Recommended Action
Approve
Analysis
The City of Grand Prairie has leased certain municipal properties to Chesapeake Energy for the development and production of natural gas. The city has determined that the calculation and payment of royalty interests by Chesapeake has been incorrect resulting in under payments to the City. A negotiated resolution of the differences has been reached pending city council approval.
Financial Consideration
A full briefing will be provided in executive session prior to city council consideration.