5 East Fort Worth neighborhoods to meet

Discussion of a community gas lease for five neighborhoods in east Fort Worth is the subject of a meeting set for 6:30 p.m. to 8:30 p.m. Thursday at Eastern Hills High School's auditorium. On the agenda is an information session describing the lease, put together by a negotiating task force authorized to research terms of a desireable lease, and time for questions and answers. The lease will be sent to interested drillers, who will be invited to submit offers. The neighborhood associations involved are in the meeting represent Brentwood-Oak Hills, Chimney Wood, Eastern Hills, Central Meadowbrook and West Meadowbrook.

The most recent lease offer was from Holland Acquisitions, on behalf of Paloma Resources, for $7,000 an acre ($1,200 minimum) and 25 percent royalty. That compared to Holland's offer in August of $3,000/acre ($500 minimum) and 20 percent royalty from Holland.

-- Jim Fuquay

(Photo: Eastern Hills football)

Comments

[Archie]

Clayton...wake up and smell the coffee! Chesapeake going away and turning their back on 3,500 acres! Are you nuts? Even if that were possible there is always, XTO, Devon, Llano and on and on. If you are so disappointed in what the Task Force is doing, sign a lease. Paloma will be most happy to take advantage of you.

[Clayton]

An excerpt from an E-mail sent to the Brentwood-Oak Hills Neighborhood (BOHN) Association members 2-6-2008

>BOHN neighbors (new list) and BOHN nonresident property owners:
>
> The country may have just experienced Super Tuesday, but the day before
> was
> a Super Monday for BOHN residents.
>
> Chesapeake Energy officials from its Oklahoma City headquarters office
> stated that they have "practically written off" the New Beginnings
> International Church drill site because it appears to be "unpermitable."
>
> Now that Chesapeake Energy has bought Paloma Resources , it is up to Chesapeake to decide whether to >apply
> for
> a high-impact well permit on the land Paloma acquired at the New
> Beginnings
> International Church, and Chesapeake has apparently decided not to apply
> for
> this permit. I can only hope that the Chesapeake officials don't go back
> on
> their word on this matter.

>We can pat ourselves on the back for voicing our objections to this VERY
> high-impact well site, but the folks to whom we owe the biggest debt of
> grattitude are the ones in the 600-foot high-impact area who refused to
> sign

Seems to me the Task Force and the "just say No'ers" really are high-fiveing it. They may have actually succeeded in making sure that no one who had hopped to be a part of a gas unit can be. The New Beginnings site according to Chris O'Sullivan was ideal not only for it's accessibility but also it's proximity to gas pipelines. If it is considered unpermittable Chesapeake will move on, remember they say they are the big dog in this fight and sometimes the big dog gets bored. Chesapeake makes money on the stock market by their net acreage holdings, so they won't lose money on what has been leased so far. They just won't go any further in this area and move on to another. Maybe North Dakota or Wyoming. So go ahead and pat yourself on the back, but some of us were actually looking forward to being a part of this unit. The eight members of the Task Force may have ruined it for many thousands of people.
Thanks.

[Louis McBee]

To alicewonders:
We will make every attempt to keep our residents informed without revealing too much to the people we are negotiating with. Follow your neighborhood web sites and newsletters. Not sure where you are, but the neighborhoods that are involved in this effort are West Meadowbrook, Central Meadowbrook, Eastern Hills, Brentwood Oak Hills and Chimney Woods HOA. We comprise approximately 5,400 parcels and 3,400 acres. Just over 5 square miles. I'm not going to put my email or phone number here, but that contact information is not exactly hidden...if you want to look for it would be happy to communicate directly.

[waitdon'tsignyet]

To find out what is happening with the Task force Lease agreement go to www.neighborhoodlink.com/ftw/wmna.

[alicewonders]

Mr. McBee, thank you for your response. I appreciate the Task Force efforts to make the best deal for the neighborhoods and I feel I owe you an apology. My frustration stems from the lack of communication and up-date information from our leaders. Is there a forum where Eastsiders can receive information on the progress of negotiations? Or maybe this is it(?)

[Susan]

30K/30% may seem unreasonable now, but 18K/27% seemed impossible a year ago. My, how quickly times have changed. Property owners finally understand that they have they hold the bargaining power since they own what the drillers want (mineral rights). And, don't forget, the gas isn't going anywhere. Seems pretty clear that "patience pays."

[Louis McBee]

To Alicewonders:

If you think the Greater Meadowbrook Mineral Leasing Task Force is not representing your interests and just "skunking" you as you put it, sign a lease. There are plenty of land men willing to put your signature on their lease and lead you down the primrose path to riches beyond your wildest dreams.

Or you can wake up and realize that the Task Force is so diverse that what you write about could never happen. What is FACT is that since the Task Force began their work, the financial limits have constantly gone up, and up and up. So, instead of just trying to discredit the hard work of others perhaps a little support and encouragement would go a long way. Unless of course you are a driller or land acquisitions person hiding behind a "blog"....then you are doing exactly what we would expect you to do!

Give it a rest, we are holding together as a community.

Louis McBee

[alicewonders]

OK we met, a huge group of us. We listened and we believed that what was put before us was an honest effort to negotiate a real deal. Now I am beginning to doubt the integrity of the group that represented us. Were they really trying to help or was it just another ploy to stop drilling on the East side? Have we been skunked? Were the terms of the lease agreement so extreme that they would never receive consideration? Was there a "poison pill" included that would negate any negotiations? If not, why have we not heard from our leaders? Are the "just say no" group high fiving it at our expense? Face it. All around us people are negotating with the lease companies. As the circle of leasers grows larger into the outskirts of Fort Worth, one wonders if the intent is to leave us behind. One also wonders why the people opposed to gas drilling were not at this big meeting to protest. Hmmmmmm

[Stenotrophomonas]

If you're unfortunate enough to live close to a drill site, a truck route, a compressor, a pipeline, etc., even $30,000/acre plus a monthly check minus taxes will not begin to compensate for the loss of property value. No one in their right mind will consider paying full value for a house near a well site, especially since they won't have the bonus.
Keep your pen in your pocket and your hand firmly on your wallet.

[james]

Lease offer ?? or what the group wants?? 30kpa/30%ri ?? remember to get yourself in a gas unit and not out of one.

[waitdon'tsignyet]

Absolutely Archie! Everyone was attentive and nobody there protested or caused an interruption in the meeting. So good to see so many people stick together. We still have that EASTSIDE PRIDE that used to be on our car bumpers. I think this big group could do many good things for the neighborhood. We need to keep these five Eastside neighborhoods together to act as one on many of our issues!

[Archie]

I attended this groups organizational meeting last evening at the Eastern Hills High School and was very impressed with their presentation and their ability to organize such a large area in such a short time frame. I would say that their work is cut out for them in negotiating this lease, BUT...WOW! $30,00.00 per acre signing bonus and 30% royalty! That sounds like a lot, but considering what was being offered just a few months ago it also seems very possible.

I wish them the very best in their efforts and I will personally hold off signing anything until I see what they are capable of doing on their proposed community lease. What a dynamic group of people! I am so proud to be an "Eastsider." We've come a long way baby!
Archie