National Geoscience Data Repository System, Phase III: Implementation and Operation of the Repository

The NGDRS steering committee met at Chevron's office on March 2, 1999 in Houston, Texas to review and discuss issues of data transfer and the future of the Stapleton prospect for establishment of a national core repository. Company representatives reaffirmed their commitment in principal to the NGDRS project. Given the downturn in oil prices and final results from the due diligence of the Stapleton property, AGI has decided to forego pursuing acquisition and build-out of the Stapleton Airport property. The major petroleum companies indicated that rising the $10-12 million endowment would be difficult in the current climate. The completion of the due diligence of the property also revealed major concerns about the environmental liability associated with the property, which would require indemnification of the AGI by the City of Denver. Given these complicating results, AGI officially terminated efforts regarding the Stapleton property effective March 31, 1999. Several steering committee members put forth a proposal that the companies make their non-proprietary holdings public and list them in the NGDRS GeoTrek metadata catalog. Most of these holdings are at C&M Storage in Schulemburg, Texas. The companies are discussing methods to allow for public access to these data with C&M