Natural gas drilling signed to Chesapeake

The natural gas exploration lease for TCU’s campus has been transferred from Four Sevens Resources Co. Ltd. to Chesapeake Exploration, LLC.The Board of Trustees executive committee signed a letter of intent in March to appoint Four Sevens as the university’s natural gas operator.

Julie Wilson , vice president of corporation development at Chesapeake, said Chesapeake purchased the leasehold assets from Four Sevens on July 2, which means the leases gathered by Four Sevens are transferred to Chesapeake.

Wilson said TCU was aware of the transaction, however, Brian Gutierrez , vice chancellor of finance and administration , who has been involved working with the gas companies, was unable to be reached before publication.

Tracy Syler-Jones, vice chancellor for marketing and communication, said the negotiation to transfer the lease was made between Four Sevens and Chesapeake.

TCU signed with Four Sevens in August, Syler-Jones said.

Plans to begin drilling were scheduled for Jan. 10, 2008, in the Remote Parking lot north of Amon Carter Stadium . The lot is commonly known as the overflow lot by students.

The rig will run for seven months at a time and will stop during football season when it cannot be active, between August and January, according to an Aug. 7 press release from the university.

Chesapeake announced in July that it has entered into a Land Services Agreement whereby Four Sevens and Sinclair Oil and Gas Co. have agreed to work on an exclusive basis in certain areas of Tarrant County to acquire leases on Chesapeake’s behalf, according to a Chesapeake press release.