Developers Buy Lake Texoma Lodge For $14.6 Million

Thursday, November 16th 2006, 6:10 am
By: News On 6

OKLAHOMA CITY (AP) -- A development company headed by two Oklahoma energy magnates will get to transform the Lake Texoma Lodge into a resort-style complex.

Commissioners of the state Land Office chose Pointe Vista Development to create the resort along the shores of Lake Texoma, which is the state's second largest lake and straddles the Oklahoma-Texas border west of Durant.

The company agreed to pay about $14.6-million for the lodge and surrounding property. It plans to spend up to $350-million on the development that will include condominiums, cabins, a water park and a family style motel.

Partners in Pointe Vista are Chesapeake Energy Chairman and CEO Aubrey McClendon and Mark Fisher, founder, president and chief executive officer at Chaparral Energy.