Airport Participation in Oil and Gas Development (2018) / Chapter Skim
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SUMMARY AIRPORT PARTICIPATION IN OIL AND GAS DEVELOPMENT This synthesis explores oil and gas development on or near airports from four different perspectives: (1) the regulatory perspective; (2)
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2 CASE STUDIES The airports that participated in the case studies illustrate different approaches to oil and gas extraction that include both directional drilling from outside airport property and development of oil and gas wells on airport property. The case studies also demonstrate how airports evaluated the market, solicited interest, and negotiated lease terms.
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3 LESSONS LEARNED FROM AIRPORT EXPERIENCES The airport case studies provide a rich trove of information that is summarized in the report; however, each case study is well worth reading for any airport contemplating an oil or gas lease or reviewing current holdings. Here are some of the highlights.
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4 Right of First Refusal Most of the case study airports experienced assignment of oil and gas leases to other parties during the term of a lease. The City and County of Denver added a right of first refusal clause that enabled it to buy back the leasehold when a lessee proposed assignment.
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