City Leases Mineral Rights to Diamondback Energy

Scope & details

The full contract record, as filed.

Contract amount

$10.00 bonus plus 1/4 royalty on production (per lease terms)

Contract type

OTHER

Contract term

Three (3) years primary term from effective date and as long thereafter as oil and/or gas is produced in paying quantities

Renewal

Lease continues beyond the three-year primary term so long as oil and/or gas is produced in paying quantities from the leased premises, with additional continuation options tied to continuous development and shut-in royalty provisions.

Document type

Agenda

Source document

city-of-odessa-city-council-meeting-agenda-july-22-2025_3ad.pdf

Related contracts

Other contracts from Diamondback Energy.

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Midland County Utility District Regular Meeting Agenda 2026-07-16

DISCUSSSED

MIDLAND COUNTY UTILITY DISTRICT, TexasJul 16, 2026

city-of-odessa-city-council-work-session-minutes-july-22-2025_9b3.pdf

approved

City of Odessa, TexasNAJul 22, 2025

donations_report_may_2025.pdf

approved

Midland Isd, Texas$12,000.00May 1, 2025

kent-county-meeting-notice-2024-10-28-pdf_1aa.pdf

pending

Balance of Kent County, TexasNAOct 28, 2024

city-of-jayton-meeting-notice-2024-10-28_338.pdf

pending

City of Jayton, TexasNAOct 28, 2024

Frequently asked questions

Common questions about this contract, answered from the record.

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.

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.

View Diamondback Energy's 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.

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