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For the second time this year the City of Lamesa is seeing a big financial windfall from a mineral lease of city-owned property. Lamesa City Council members this past Tuesday accepted a lone bid from CGS Operating of Decatur for an oil and gas lease on city property just south of Lamesa, near the municipal landfill. Interim City Manager Wayne Chapman said that lease, at $1,000 per acre, will result in a one-time bonus payment to the city of $266,759. The five-year lease agreement also includes royalties to be paid to the city if the company should drill on the site and produce ...

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Lamesa Press-Reporter

P.O. Box 710
Lamesa, TX 79331