The Arlington, TX, City Council voted 8-1 to award Chesapeake Energy Corp. for its Bobcat 1H well on a site that is about a half-mile southwest of the Cowboys Stadium. The approval followed a public hearing and an agreement by Chesapeake to coordinate heavy truck traffic around events at the stadium and the nearby Rangers Ballpark, the Fort Worth Star-Telegram reported. As many as a dozen wells could be placed on Chesapeake’s Truman site accessing the mineral resources of about 1,200 property owners. Some area residents had expressed concerns about traffic and pollution, but others at the council meeting said they supported development of their mineral rights.
Samson Oil & Gas Limited, an Australian company with development and exploration acreage in the U.S., announced Friday that it has agreed to sell its gas assets in the Jonah and Lookout Wash fields in the Wyoming portion of the Green River Formation to a group of private buyers for $6.3 million. The sale will cause Samson to recognize a tax loss that will offset some of the income tax liability it previously incurred by the sale of acreage in Goshen County, WY, which was completed in November. The tax benefit is estimated to be about $8 million. The sale is also consistent with the company’s strategy of focusing on developing the Bakken Formation in North Dakota and the Niobrara Formation in Wyoming.
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