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Board awards three-year oil-and-gas lease on district mineral acres to Camino Natural Resources
Summary
Following a public bid process run in the local paper, the board awarded a three-year lease covering about 38 acres to Camino Natural Resources; the bid includes an upfront bonus and a 3/16 royalty, and staff recommended allocating proceeds to the building fund.
District staff told trustees the board ran a public solicitation in the Chickasha Express and received a single bid from Camino Natural Resources for the district'owned mineral interest north'northeast of town (roughly 38 acres). Camino'representative Chris Barbee explained the company is based in Denver with local Oklahoma operations and answered questions about likely drilling units and location.
Staff said the bid included per'acre bonuses for portions of the acreage and a 3/16 royalty for a three'year lease; trustees discussed whether proceeds should be allocated to the building fund and raised the expectation that gross production is uncertain and could vary widely. The board moved to award the three'year lease to Camino Natural Resources; the motion passed.
