City Leases Mineral Rights to Diamondback Energy
City of OdessaCity · Odessa, TX- Disclosed value
- $10.00 bonus plus 1/4 royalty on production (per lease terms)
- From agenda
- Approved
- Jul 22, 2025
The 30-second brief
The Odessa City Council authorized an oil and gas lease with Diamondback Energy covering approximately 0.13 city-owned mineral acres in Ector County. The three-year lease, awarded following RFP 25-51310-05, provides for a bonus payment and a one-fourth royalty on oil and gas production.
Diamondback Energy holds this contract with City of Odessa. 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.
See who signed off on this contract.
See who signed offFree account · 30-second setup · No credit card
Contract details
- Amount
- $10.00 bonus plus 1/4 royalty on production (per lease terms)
- 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
- Source document
- city-of-odessa-city-council-meeting-agenda-july-22-2025_3ad.pdf (Agenda)
Diamondback Energy's other public contracts
More City of Odessa contracts
Questions about this contract
Who was awarded the government contract by City of Odessa?
Diamondback Energy was awarded this government contract by City of Odessa, as recorded on July 22, 2025. The contract value is $10.00 bonus plus 1/4 royalty on production (per lease terms).
How much is the Diamondback Energy contract with City of Odessa worth?
The Diamondback Energy contract with City of Odessa is valued at $10.00 bonus plus 1/4 royalty on production (per lease terms).
What type of contract is this?
This is a government contract, documented as a agenda record.
Where was this contract approved?
This contract appears in city-of-odessa-city-council-meeting-agenda-july-22-2025_3ad.pdf (Agenda), dated July 22, 2025 from City of Odessa. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
Show 2 more questions
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 currently buying?
Explore City of Odessa's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.