City Approves Oil and Gas Lease with Diamondback
City of Odessa cityCity · Odessa, TX- Disclosed value
- $10.00 bonus plus one-fourth (1/4) royalty on production
- From agendapacket
- Approved
- Jul 22, 2025
The 30-second brief
The Odessa City Council authorized an oil and gas lease with Diamondback Energy for approximately 0.13 mineral acres of city-owned land in Section 24, Block 42, Ector County. The three-year lease provides for a $10 bonus and a one-fourth royalty on oil and gas production, granting Diamondback exclusive exploration and drilling rights.
Diamondback Energy holds this contract with City of Odessa city. Its other public contracts on record include work for Ector County Independent School District and Martin County Hospital District.
Term as filed: Three (3) years primary term from effective date and as long thereafter as oil and/or gas is produced in paying quantities.
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Contract details
- Amount
- $10.00 bonus plus one-fourth (1/4) royalty on production
- Document date
- July 22, 2025
- Term
- Three (3) years primary term from effective date and as long thereafter as oil and/or gas is produced in paying quantities
- Vendor
- Diamondback Energy
- Agency
- City of Odessa city
- Source document
- City of Odessa AgendaPacket 2025-07-22 (AgendaPacket)
Diamondback Energy's other public contracts
More City of Odessa city contracts
Questions about this contract
Who was awarded the government contract by City of Odessa city?
Diamondback Energy was awarded this government contract by City of Odessa city, as recorded on July 22, 2025. The contract value is $10.00 bonus plus one-fourth (1/4) royalty on production.
How much is the Diamondback Energy contract with City of Odessa city worth?
The Diamondback Energy contract with City of Odessa city is valued at $10.00 bonus plus one-fourth (1/4) royalty on production.
What type of contract is this?
This is a government contract, documented as a agendapacket record.
Where was this contract approved?
This contract appears in City of Odessa AgendaPacket 2025-07-22 (AgendaPacket), dated July 22, 2025 from City of Odessa city. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Diamondback Energy hold?
Diamondback Energy may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Odessa city currently buying?
Explore City of Odessa city's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.