City officials say Pedestal Oil Company, Inc., withdrew its proposal Friday following widespread opposition from area residents and those who use the recreational lake.
In a statement, Oklahoma City Mayor Mick Cornett thanked Pedestal for recognizing the importance of Lake Hefner to the community. Cornett also thanked those who contacted his office and shared their views.
City officials say public feedback to the unsolicited proposal was overwhelmingly against it. The proposal was still in the early stages of the public consideration process.
Under the proposal, the company would have paid the city a royalty of 21 percent. Proceeds would have gone toward improvements at Lake Hefner, Lake Stanley Draper and Lake Overholser.