The lengthy Barnett Shale chapter on Glencrest Resources hasn't met its end yet. In Wednesday's Work & Money section, S-T staffer Jim Fuquay updates property owners' efforts to get out of the leases they signed more than a year ago, but still haven't received signing bonuses on.
Here's the top of Jim's story:
After waiting more than a year for her bonus check after signing mineral rights leases with Glencrest Resources, Reva Campbell was all ears when Dale Property called about leasing her properties.
But after reviewing the five parcels she owns, Dale had mixed news for the Forest Hill resident.
“Dale called back and said Glencrest had filed four leases," Campbell said. "But I had one property they didn’t file, and they signed me on that one
Campbell is one of the thousands of homeowners who signed mineral rights leases more than a year ago with Glencrest Resources and has still not received a signing bonus. They are looking for a way out, and now it appears that a few have made some headway. The turnaround may be a further indication of the competitive nature of the field and an indication that the issue of the unpaid Glencrest leases may be coming to a head.
Rosa Yaites said that when Dale offered late last year to review her lease, she accepted, although she says she had signed with Glencrest. But she ended up signing a lease with Dale, anyway. She was told by Dale representatives that their review showed there was not an existing mineral rights lease covering her property, she said.
Like Campbell, Yaites said Dale paid her a $750 signing bonus, the same Glencrest promised but never paid.
-- Scott Nishimura