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| Natural gas drilling site in the Barnett Shale, North Texas |
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| Mark West |
DALLAS, TX – HFF announced today that it has closed the sale
of a ground lease encumbering 106 urban natural gas drilling sites located in
the Barnett Shale in North Texas, one of the largest producing onshore
natural gas fields in the United States.
HFF
marketed the sites on behalf of the seller, Fort Worth, Texas-based 111 Realty
Investor, LP, and procured the buyer.
The sites were cross-collateralized and cross-defaulted
under one single lease to Chesapeake Energy.
The ground lease has 35 years of remaining lease term with five, five-year renewal options.
Approximately 83 of the 106 sites have multiple producing wells in place
today with future drilling opportunities on each of the properties for many
years to come.
The ground lease has 35 years of remaining lease term with five, five-year renewal options.
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| Coler Yoakam |
The
HFF team representing the seller was led by senior managing director Mark
West and managing director Coler Yoakam.
For a complete copy of the company’s
news release, please contact:
Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell:
617-543-4873 | www.hfflp.com
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