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white cloud Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Dec-04-11 10:17 AM
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Chesapeake decides against Southlake drilling
By Nicholas Sakelaris

SOUTHLAKE Chesapeake Energy will let its natural gas leases in the city expire and will not pursue drilling, making it the second gas company to pull out of Southlake this year.

The Oklahoma-based energy company mailed about 1,400 letters to Southlake leaseholders this month saying that a new city ordinance places unnecessary and restrictive conditions on the industry.

Leaseholders include the Carroll school district, which had a 402-acre lease that expired in March.

"I'm truly sorry that we won't have the opportunity to produce your minerals," Julie Wilson, vice president of urban development for Chesapeake, wrote in the Nov. 9 letter.

Dozens of Southlake mineral owners had contacted Chesapeake to see if the company planned to drill in the city or if it would challenge the city's ordinance.

The city's 10-month moratorium on new drilling applications has expired, opening the door for companies to apply to drill.

The letter makes it clear that Chesapeake won't apply.

Southlake's new drilling regulations were approved in October after months of debate, public hearings and consultant studies.

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