Take from the rich, give to the homeowners

Nottingham Estates, just inside Tarrant County in far northwest Grand Prairie, has formed the Nottingham Gas Lease Association to negotiate a favorable mineral rights lease with drillers. A Nov. 1 organizing meeting at Shady Grove Church drew more than 400 homeowners, and the group reports that it is receiving support from 85 percent to 90 percent of property owners in the neighborhood. The association is now seeking input from residents to determine what terms to include in a request for proposal that will be sent to oil and gas companies. Notthingham Estates includes 525 homes and  250 acres (not to mention streets named Robinhood Drive and Sherwood Drive!). For more information, or to submit comments, e-mail the group at nottinghamgas@gmail.com.

-- Jim

Comments

[B. Humphries]

What is it about the concept that we all live in Tarrant County

and it is the sweet spot of the Barnett Shale that you guys don't

understand? We are dealing with one commodity here. Leases for

one commodity, our mineral rights.

A persons standard of living, income, 401K or the kind of car they

drive is not at issue.

[Cyber man]

And we should all drive the same type car, and live in the same priced house, and Fort Worth land should be priced the same as land downtown Manhattan, and we should all be able to retire with the same exact retirement plan, and we all should be able to live the same length of time, etc., etc. etc.

And no I am not a landman.

[BC]

As stated by the authors of this blog, it all depends on the amount of competition in the area. If there is only one drillsite, and Chesapeake has it leased, then other companies are going to stay away. Out in the country (where Humphries has previous dealings) there are usually many possible drillsites. Why do people not get this concept? One car dealer may not offer you the same price on a vehicle as another. Raw land in Joshua is not going to be the same price per acre as land in Dowtown Ft. Worth. The Barnett shale is also better in some areas than another so companies may be willing to pay more to get into areas that have better wells. The Railroad Commission absolutely has nothing to do with making sure everyone gets a fair offer! Don't you think the RRC has better things to do B. (must stand for BS) Humphries?

[B. Humphries]

Jim, Great headline. This has been my point all along in this blog.

Now, if all homeowners were reaping the same rewards, from the same

gas field, as we should be, the have's and the have nots could have

been avoided. The theory has been the rich are getting richer and

the poor are getting shafted in bonus money from the Energy

Companys. Urban drilling has been stated as being something new

Urban leases have been new also. Most of us in this County didn't

have a clue how high the offers could go. We certainly didn't expect

a lease for our mineral rights to be a multiple choice, conducted

like a crap shoot from a business.