HomeMy WebLinkAboutResolutions - No. 87-96RESOLUTION NO. 87-96
RESOLUTION AWARDING BIDS ON CERTAIN OIL AND GAS LEASES
ON PROPERTY LOCATED IN THE AREA OF THE
WHITE SLOUGH WATER POLLUTION CONTROL PLANT
WHEREAS, on June 3, 1987 the City Council of the City of Lodi
adopted Resolution No. 87-60 "A Resolution of the City Council of the
City of Lodi Declaring Its Intention to Call for Bids for a Certain Oil
and Gas Lease and Making Findings in Connection Therewith";
WHEREAS, pursuant to Resolution No. 87-60, the City Clerk
published the subject resolution in both the "Lodi News Sentinel" and
the "Stockton Record", newspapers of general circulation published and
printed in the city and county where the property is situated;
WHEREAS, pursuant to Resolution No. 87-60, the City Clerk did
receive and open the following bids at the July 15, 1987 council
meeting:
Bid 1
NGC Energy Company
2320 Courage Drive
Suite 110
Fairfield, CA 94523
Parcel 1 390 acres at $20.00 per acre $7,800.00
(first years rental)
Cash bonus $4,095.00
$11,895.00
(Check received in the amount of
$11,895.00 which includes the
1st years rental and cash bonus)
One-sixth (1/6th) royalty
Term of lease shall be for three (3)
years and for such longer period
(not to exceed 35 years) during
which oil, gas and other hydrocarbon
substances shall be produced from
said leased land, or lands, with
with which the leased land may be
pooled.
Bid 2
Sun Exploration and Production
2151 Alessandro
Suite 190
Ventura, CA 93001
Parcel 2 137. acres at $20.00 per acre $2,740.00
(first years rental)
Cash bonus $ 685.00
$3,425.00
(Check received in the amount
of $3,425.00 which includes
the 1st years rental and cash
bonus)
One-sixth (1/6th) royalty
Term of lease shall be for three (3)
years and for such longer period
(not to exceed 35 years) during
which oil, gas and other hydrocarbon
substances shall be produced from
said leased land, or lands, with
with which the leased land may be
pooled.
WHEREAS, Resolution No. 87-60 provides that bids may be submitted
on either Parcel 1 (390 acres +) or Parcel 2 (137 acres +) or may
be submitted on Parcels 1 and 2 combined (527 acres +)
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Lodi that the award of bid on certain oil and gas leases on property
located in the area of the White Slough Water Pollution Control Plant
shall be made to NGC Energy Company on Parcel and the Sun Exploration
and Production Company on Parcel 2 as heretofore set forth.
Dated: August 5, 1987
I hereby certify that Resolution No. 87-96 was passed and adopted by
the City Council of the City of Lodi in a regular meeting held August
5, 1987 by the following vote:
Ayes: Council Members - Olson, Snider and Reid
Noes: Council Members - None
Absent: Council Members - Hinchman and Pinkerton
oved as to form
Vo d M. Stein
City Attorney
k", )h
Alice M. Re mche
City Clerk
87-96