Fort Worth Energy and XTO Energy, which just over a week ago reached agreement on the terms of a mineral rights lease to offer residents of Fort Worth’s Ryan Place and Berkeley Place neighborhoods, plan to meet with Mistletoe Heights Neighborhood Association representatives next week.
At the same time, leasing rival Four Sevens Energy is stepping up its own efforts in the area, reportedly offering bonus payments as high as $12,500 an acre to property owners who agree to sign leases.
While a number of commercial properties in the area have been leased, neighborhood association leaders have urged homeowners not to sign a lease until the groups can jointly negotiate more favorable terms.
The Fort Worth Energy/XTO lease, which Ryan Place Improvement Association President Dan Roberts said could be mailed to homeowners as soon as this weekend, offers $10,000 an acre in bonus and a 25 percent royalty. Those are rich terms, but the lease also includes restrictions on where drilling and production equipment may be located and dictates environmental and safety issues.
That lease, which includes elements modeled after an earlier lease between XTO, Vargas Energy and the Tanglewood Neighborhood Association, has been proposed as a model or template for other neighborhood associations to use.
Norm Stemple, head of the drilling committee for Mistletoe Heights, said his group expects to meet with XTO and Fort Worth Energy Thursday to work on issues specific to that neighborhood, which is bisected by Forest Park Boulevard just south of Rosedale Street.
He said concerns include the location of a drill site as far north of the neighborhood as possible and the path of a natural gas gathering line that would carry gas from the well to a larger pipeline.
“We’re focusing on environmental issues, not dollars,” Stemple said.
FOR MORE ON THIS STORY, see the Star-Telegram story Saturday.