Executive Committee approves signing letter of intent
March 2, 2007 --
The Executive Committee of TCU’s Board of Trustees approved
signing a letter of intent to appoint Four Sevens Resources Co., Ltd.
as the university’s natural gas operator.
“The next step is to complete a process of negotiating a lease that
meets the university’s standards and is mutually acceptable by TCU and
Four Sevens,” said Brian Gutierrez, TCU vice chancellor for finance and
administration. “This includes making sure that the university is
satisfied with all aspects of drilling, including safety and security
before signing the lease.”
The university began assessing the feasibility of drilling for natural
gas on its campus early last month. The potential revenue from drilling
will help TCU continue building a national, world-class values-centered
university.
In addition to the potential financial aspects of the project, the
university’s students also will benefit through focused research.
Engineering, geology and environmental sciences students will conduct
on-site research while students from humanities and social sciences
will examine the social and political impact of the Barnett Shale.
