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Durant council awards oil-and-gas leases on city land to Freedom Oil & Gas
Summary
The council awarded oil-and-gas leases for two city tracts (34.99 acres and 181.87 acres) to Freedom Oil & Gas Corporation and approved recording contracts; staff noted previous lease revenue of roughly $600,000 appeared in the general fund.
The Durant City Council approved awards and contracts for oil and gas leases on city property to Freedom Oil & Gas Corporation, the city attorney recommended.
City Attorney (Mr. Elliott) recommended accepting the highest qualifying bids after explaining a delayed bid for one tract had been resolved. Council discussion noted there had been only a single bid on a 34.99‑acre tract (compared with a prior, higher bid) and two qualified bids for a separate 181.87‑acre tract; the attorney recommended awarding both awards to Freedom Oil & Gas. The council approved the awards and the related contract recordings by roll call.
Council members noted the city had already received roughly $600,000 from a prior lease and that receipts had been recorded in the general fund and included in the financial statements, though that transaction was not highlighted in the financial presentation. A councilor requested maps of the lease plots; staff said maps can be provided upon request.
