Chesapeake Energy Corp. on Tuesday began a natural gas exploration and production project at Dallas/Fort Worth International Airport.
Chesapeake expects the project to be the largest natural gas exploration effort at a major U.S. airport and the single largest natural gas lease in the Barnett Shale formation.
In 2006, Chesapeake paid Dallas/Fort Worth International Airport $186 million in initial bonus and will continue to pay a 25-percent revenue-sharing royalty on all natural gas produced from the airport lease.
DFW has allocated $40 million of the bonus for renovations of the airport's four original terminals.
A group of minority investors hold a 20-percent working interest in the wells.
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