Neighborhoods organize for leasing

The Star-Telegram published an extensive report Nov. 11 detailing efforts by Tarrant County neighborhoods and associations to organize to deal with natural gas leasing. For a copy of the story, click this link: Download neighborhoods_organize.doc

Comments

[J. Evans]

we are in between two locations on Sycamore for Wells. The one we got offers for was for the one by the Braums of Crowley/Sycamore. It started at 4,000 acre with a sign on of 400 for our plot by Chesapeke, then we got one for a 500 sign on from Paloma. When all was said and done at the end of 2007 we were offered 900 sign on. We decided not to sign and to hold out. how can I find out if they are going to make any more offers in this area. Nothing is going up in these locations for those who have already signed.

[Clayton]

April,That depends on your location in the unit. If you are copletely surrounded you may be left out of the unit if the company with the majority leased around you can declare the unit. You will recieve something for you minerals and you can try to get into the unit after the lease you have is expired but, what you will recieve will be little and what it may cost to get in after the fact will overshadow the benefit. I would findout where you are in the unit and how much really is signed around you. You never know. Maybe you can help out in your neighborhood. Also your lease may be assigned or traded to the other company, which would include you in the unit but only at the terms set in your lease. So that may be better than nothing.

[April]

Clayton: what happens if you are with one company in a lease and
you are surrounded in a neighborhood that has signed with a
different company? will you still be included in a pool? if the
different company drills than yours? thanks

[Clayton]

Hey Chuck, since D.H. really hates Paloma and can't wait to poke fun instead of help, how about I actually help you out a little. I don't know about Permian Land Co. but their name obviously refers to the Permian Basin, which is another area of activity here in Texas. Look at the lease you have received. Is it with XTO Energy specifically? Does the lease have XTO on it? If not you may be dealing with a broker for XTO or worse a flipper who is trying to buy then flip your lease. If it is an XTO lease, look at the details. Do you like them? If it were me, I'd get with my neighbors, collect enough folks to add up to about 8 or 10 acres and call XTO and tell them you want $10000.00 per net mineral acre, 25% royalty, on a 3 year 2 year with a $7500.00 option. This only works of course with a group, so have a party and get together.

[D.H.]

Paloma offered 7.000.00 dollars an acre plus a free turkey if sign before Christmas.

[Chuck Rearick]

We live in southwest Arlington, about halfway between Bowen and Fielder and between California and Mayfield. We just got a letter from Permian Land Company in FW, an agent for XTO Energy offering $5000 per net mineral acre, 25% royalty and three year lease with two year option @ $2500.

I have heard of XTO Energy, but nothing about Permian Land and nothing has been mentioned in the blog. Could find nothing on them doing a Google search either.

Does anyone have any information on Permian Land? Are they legit or could it be a scam?

Chuck Rearick
hotshoe495@yahoo.com