The $9 million offer made by Oklahoma City-based Chesapeake Energy to settle a lawsuit filed by the Dallas Fort Worth International Airport Board was discussed by the board this week. It’s unclear if the matter was formally approved.
The board held a closed session as it sought the advice of legal counsel in settling the Tarrant County lawsuit filed June 15. The DFW board accused Chesapeake of violating the terms of its contract to drill gas wells on airport property. The suit said Chesapeake failed to live up to a 2012 compromise settlement in which the company agreed to drill more than the 112 wells already drilled. At least 14 more wells were to be drilled but the lawsuit said Chesapeake failed to drill six wells by the end of 2015 and another 8 wells by the end of this year.
Chesapeake agreed to settle the suit by paying DFW $8 million and another $1 million for royalty. In addition, the company’s settlement offer included a plan to plug and abandon certain wells.