Milwaukee-based Zilber Ltd. announced recently that Chesapeake Energy, under lease agreements with Zilber, has successfully completed two natural gas wells on Zilber’s Mountain Valley Lake development in Burleson, Texas, just south of Fort Worth. The land, which was acquired by Zilber Ltd. in 1996 from a land subsidiary of the Texas-based Bass Brothers, includes the development of Mountain Valley Lake and single family homes on part of the 1,000 acres that were included in the original acquisition. All of the land rests on top of the Barnett Shale Formation, which has led to significant natural gas production over the last four years. Zilber began to develop the lake and surrounding home sites in 1998 and it entered into the agreement to explore for natural gas with Chesapeake Energy in 2005.
