Organizers of DFW West Homeowners in Grapevine, a coalition of more than 20 neighborhoods west of Texas 121 and north of Hall Johnson, report they're moving ahead.
The group is broken down by subdivision, with one or two leaders per subdivision. DFW West says it has a group of seven "specialists" who work in the energy industry. It's up to each subdivision's leaders to organize their homeowners.
"We're just a few weeks away from negotiating," one of the group's leaders says.
He also says the group has spoken to organizers of a group of neighborhoods in Grapevine east of 121 that have organized and signed a letter of intent to be represented by two independent landmen. Chris Warton, a leader of that group, says both sides plan to meet soon.
The Grapevine neighborhoods and some in Euless, all just west of Dallas/Fort Worth Airport, have received lease offers from Cimmaron Field Services on behalf of Chesapeake Energy. Click here to read our previous posts on Grapevine and here to read our previous posts on Euless. The offers: $3,000-per-acre signing bonus, 20 percent royalty.
Other tidbits from DFW West:
- Cimmaron is telling neighborhood organizers it's sent out 5,000 lease packets to the area.
- Neighborhood organizers say they control about 2,000 lots
and 400 acres. - On its web site, DFW West lists more than 20 neighborhoods that it's working with. In addition to the neighborhoods that Blogging the Barnett Shale has already reported, DFW West's site lists the Stonewood, Creekwood West, Los Robles, Walker Farms Timberline East, High Point, and Parkwood neighborhoods west of 121 and north of Hall-Johnsonin Grapevine. DFW West's site also lists the Glade Crossing group and the Euless neighborhoods of Glade Manor, Quail Run Estates, and Quali Creek Estates east of 121 off of Glade Road.
DFW West organizers are telling property owners they want to:
- Limit the size of the pooling unit to ensure the highest possible royalty payments.
- Negotiate no warranty of title into the lease, providing protection in cases of disputes over ownership of mineral rights.
- Limit the lease term, possibly to three years. The offered term is for five years.
- Ensure they know where the drill sites are.
- Negotiate protection on mortgage subordination.
- Negotiate protection on environmental concerns.
-- Scott Nishimura
(Photos: Grapevine's Great Wolf Lodge, traffic on Texas 114 at Texas 121)
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I am intersting in joinging DFW West. HOw can I get more information?
Posted by: tim gundlach | February 23, 2008 at 05:57 PM