SWAPO, a group representing several southwest Arlington neighborhoods, reports it's negotiated a lease agreement with GMB Professional Land Services on behalf of Paloma Resources that calls for a $16,850-per-acre signing bonus and 25 percent royalty. The signing bonus is the highest thus far anong neighborhood leases in the Barnett Shale.
Click here to view a map of SWAPO's coverage area. The group says the area is expanded and now includes neighborhoods from U.S. 287 and Eden Road on the west, Sublett and Collard roads on the north, Hardisty on the east, and Curry Road on the south. S.J. Stovall and Allan Saxe parks are within the area.
SWAPO stoked competition for its leases from Paloma, Dale Resources on behalf of Chesapeake Energy, and Caffey on behalf of Hollis R. Sullivan, which has been signing leases in south Arlington and Kennedale.
-- Scott Nishimura
(Photos: Festival at S.J. Stovall Park)