Property owners in two Grapevine neighborhoods are reporting lease offers. A homeowner in the Shadow Glen subdivision near Glade Road and Texas 121, behind Delaney Vineyard, reports a lease offer today from Cimmaron Field Services on behalf of Chesapeake Energy. The terms: $3,000-per-acre signing bonus, minimum $450 per lot, 5-year term, 20 percent royalty, and no surface access operations.
A homeowner in the Creekwood Estates subdivision north of Parr Park reports an offer of $3,000 per acre and a 20 percent royalty. Check back for more updates on this offer.
Grapevine has been anticipating drilling for some time. The City Council stiffened drilling regulations a year ago. (Click here to read Grapevine's gas drilling ordinance; enter "gas drilling" in the search bar.) Earlier this year, the Grapevine-Colleyville School District agreed to a lease deal with Chesapeake. And drilling is underway at Dallas/Fort Worth Airport, also under an agreement with Chesapeake.
Blogging the Barnett Shale wants to hear whether any offers are going out to your Grapevine neighborhood. Send an email to firstname.lastname@example.org or use the "comments" section on the bottom of this blog post. Please give us the following information: bonus offer per acre, royalty, term, land company, drilling company, whether a specific drill site has been mentioned, and whether your neighborhood is organizing. If it is, please forward us the contact info for your neighborhood.
And, to really help us verify your offer, if you can, please fax us a copy of your cover sheet and lease form to (817) 390-7773. We won't publish information about your specific property.
(Archive photo: Annual Grape Stomp, Delaney Vineyards, Grapevine)