The government is also paying $115 million to Murphy Oil Co. of El Dorado, AR; Chevron Texaco Corp. of New York; and Conoco Inc. of Houston for similar rights in the Destin Dome area of Pensacola in northwest Florida.
For Collier Enterprises, the largest land-holding company in South Florida, the deal marks the end of a seven-year saga in trying to unload its mineral rights to the government in exchange for cash or a traded federal property.
Collier's rights are at Big Cypress National Preserve, Florida Panther Wildlife Refuse and Ten Thousand Islands National Refuge. Congress still has to approve both deals.
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