Dallas Airport OKs $5M Royalty Settlement From Chesapeake

Law360, Dallas (September 7, 2012, 4:57 PM EDT) -- The Dallas-Fort Worth International Airport Board on Thursday voted to agree to a $5 million settlement offer from Chesapeake Energy Corp. that came shortly before trial was set to begin in a dispute over royalties from natural gas drilling under airport land.

The airport, which sits on 18,000 acres of land above the Barnett Shale formation, leased its mineral rights to Chesapeake in 2006 for a 25 percent royalty. A dispute arose in 2008 when the airport argued it was owed more money under a "most...
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