Dale Resources has signed a lease to drill under Lone Star Park at Grand Prairie, which will put it among the easternmost well locations in the Barnett Shale in Dallas County. Dale is paying $1.14 million and a 25 percent royalty for the 317-acre property. The money goes to the Grand Prairie Sports Facilities Development Corp., a city entity. Dale just Wednesday hit total depth (that's TD for you insiders) on a well immediately west of the racetrack. Chesapeake Energy and Harding Co. also have a presence in western Dallas County.
-- Jim
Bob, if you sign a lease, and a title search show's you don't own
the minerals, the lease for you is rejected. It is not hard to find
out if you own your minerals., or if the developers do.
This sounds like it might be dirty business by someone. Like the
developers who retained the minerals. If all else fails in your
research of mineral ownership, get together and hire a lawyer
to find out what you need to know, as a group, before anyone signs
any lease offers. If it smells fishy to you, it probably is.
You will all need to protect your property rights.
Posted by: B. Humphries | October 29, 2007 at 06:57 PM
Anyone have any information on Davis Land and the CIMMARON ESTATES properties they are trying to sign up?
If I am not mistaken, the developers kept all the mineral rights.
What happens in a case like this where the property owners sign a lease and they don't actually own the rights??
Posted by: Bob | October 23, 2007 at 08:26 PM